MIRA INFORM REPORT

 

 

Report Date :

21.07.2011

 

IDENTIFICATION DETAILS

 

Name :

AL BISHRI TRADING & CONTRACTING COMPANY WLL

 

 

Registered Office :

Najma Street, Najma Area, Souq Al Haraj, near Famous Restaurant, 1040 Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

1974

 

 

Com. Reg. No.:

19799

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers, Retailers and Distributors of Plumbing Equipment, Tiles, Bathroom Fittings and Sanitary Ware

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US DLRS 150,000

Status :

Moderate

Payment Behaviour :

No complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2010

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Qatar

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

Al Bishri Trading & Contracting Company WLL (Correct)

 

AL BISHRI TRADING AND CONTRACTING COMPANY (Requested)

 

Company ADDRESS

 

Street                           :  Najma Street

 

Area                             :  Najma Area, Souq Al Haraj, near Famous Restaurant

 

P.O. Box           :  1040

Town                 :  Doha

Country             :  Qatar

 

Telephone         :  (974) 4432 5476 / 4441 5206 / Mobile (974) 581 7534

                                    (Waleed Hashim Ayatallah)

Fax                   :  (974) 4441 6909 / 4432 8211

E-Mail               :  hussein2002@yahoo.com  / doha@4500100.com  /

                                    albishrico@aol.com

 

Also Known As :  Al Bushri Trading & Contracting Co WLL / Al Bishri

                        Trading And Contracting Company

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                             Position

 

1. Abdulsatar Ibrahim Al Bishri                            Managing Director

 

2. Mohammed Abdullah Al Ali                             Director

 

3. Khaled Mohammed Abdullah Al Ali                  Commercial Manager

  (son of the above)

 

4. Noori Mohammed                                           Sales Manager

  (Bangladeshi national)

 

5. Hussein Ahmed                                             Joint Sales Manager

 

6. Abdul Hameed Mohammad Abu Guzaiba         Finance Manager

 

7. Waleed Hashim Ayatallah                               Accountant

 

 

Total Employees : 60

PAYMENTS

 

No complaints regarding payments have been heard from local suppliers

or banks.

 

We consider it is acceptable to deal with subject for MEDIUM amounts.

 

Opinion on maximum credit        : QR 400,000

 

Trade risk assessment               : Normal

 

Opinion on the credit figure of US DLRS 150,000 :

 

The above figure is higher than normally seen in one amount, however could prove admissible if split into two transactions provided the total indebtedness is strictly monitored.

 

 

TRADE REFERENCES

 

NAME               : CONEX SANBRA LIMITED

Street               : Whitehall Road

Town                 : Tipton

Country             : West Midlands

Country             : UK

 

NAME               : J.H. LAMONT AND COMPANY LIMITED

Street               : Glasgow Road

Town                 : Edinburgh

Country             : Scotland, UK

 

 

PRINCIPAL BANKERS

 

NAME               : QATAR ISLAMIC BANK SAQ

 

Branch              : Grand Hamad Street

PO Box             : 559

Town                 : Doha

 

Telephone         : (974) 4440 9409

Fax                   : (974) 4441 2700

 

Account No.      : 5020191833

 

The Company also has an account with following banks :

 

1. Commercial Bank of Qatar Ltd

   Main branch

   PO Box 3232

   Doha

   Telephone: (974) 4449 0222

   Fax      : (974) 4443 8182

 

2. Qatar National Bank SAQ

   Main Branch

   PO Box 1000

   Doha

   Telephone: (974) 4440 7777

   Fax      : (974) 4443 1036

 

3. Doha Bank Ltd

   2/F Doha Bank Building, Grand Hamad Avenue

   PO Box 3818

   Doha

   Telephone: (974) 4243 5444

   Fax      : (974) 4241 6631

 

4. Al Ahli Bank of Qatar SAQ

   Suhim Bin Hamad Street

   Al-Sadd Area

   PO Box 2309

   Doha

   Telephone: (974) 4423 2222

   Fax      : (974) 4444 4562

 

 

FINANCIAL INFORMATION

 

Private companies in Qatar are not required to publish or disclose

balance sheets. However, the subject interviewed offered the

following information :

 

Sales Turnover               : QR  20,000,000 - 2009 - approx

                                    : QR  20,000,000 - 2010 - approx

 

Net Profit                       : QR   2,200,000 – 2009 – approx

                                    : QR   2,500,000 – 2010 - approx

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 1974

 

History : The company was established in Qatar in 1974 as a

Proprietorship owned by Abdul Satar Ibrahim Al Bishri (Qatari national). In 1987, the legal status of the company was changed into general partnership Abdul Satar Ibrahim Al Bishri and Mohammad Abdullah Al Hammadi (Qatari national). In 1998, subject became a Limited Liability Company with the present shareholding structure.

 

C.R. No. : 19799 (issued on: 20 January 1998, expiry date: 20 January 2011, to be renewed)

 

Authorised Capital : QR 400,000

 

Paid-Up Capital : QR 400,000

 

Limited Liability Company with the following shareholders :

 

                                                            Percentage

 

1. Abdul Satar Ibrahim Al Bishri                      50%

  (Qatari national) 

 

2. Mohammed Abdullah Al Ali                           50%

  (UAE national)

 

Affiliated companies of Al Bishri Trading & Contracting Company WLL :

 

Associates

 

Emirates Trading and Contracting Est.

P.O Box 1040

Doha

Telephone: (974) 4432 5476 / 4441 5206 

Fax      : (974) 4441 6909

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers, retailers and distributors of plumbing equipment, tiles, bathroom fittings and sanitary ware.

 

Building contractors.

 

NACE Code: 4120 / 4673

 

Imports from UK, India, Pakistan, Taiwan, UAE, China, Spain, Italy, Germany and Egypt.

 

The Company does not export, all sales are domestic.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented premises comprising administrative offices, one medium-sized retail showroom with integrated storage facilities located at the heading address, as well as 3 branch offices located elsewhere in Doha.

 

 

SPECIAL NOTE

 

You enquired on: Al Bishri Trading And Contracting Company. Please note that subject is also known by this name. Subject’s correct name is as per heading.

 

The street name which you provided: Dphanajma Street is incorrect. Please note that subject's correct administrative office address is as per heading.

 

Interviewed: Hussein Ahmed (Joint Sales Manager)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.46

UK Pound

1

Rs.71.67

Euro

1

Rs.62.94

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.