MIRA INFORM REPORT

 

 

Report Date :

22.07.2011

 

IDENTIFICATION DETAILS

 

Name :

AL SAHBA FOODSTUFF TRADING CO WLL

 

 

Registered Office :

Bukanan Building, 1st Floor Salwa Road PO Box   5842 Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1993

 

 

Com. Reg. No.:

22663, Doha

 

 

Legal Form :

With Limited Liability – WLL

 

 

Line of Business :

Import and distribution of foodstuff.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

EUR 100,000

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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, 2011

 

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

 

 

SUMMARY

 

Company Name                                     : AL SAHBA FOODSTUFF TRADING CO WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability – WLL

Start Date                                             : 1993

Registration Date                                   : 31st May 2000

Commercial Registration Number            : 22663, Doha

Chamber Membership Number                : 5235/1

Issued Capital                                        : QR 200,000

Paid up Capital                                      : QR 200,000

Total Workforce                                     : 15

Activities                                               : Import and distribution of foodstuff.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : EUR 100,000

Person Interviewed                                 : Mohamed Ahmed Fathala, General Manager

COMPANY NAME

 

AL SAHBA FOODSTUFF TRADING CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Bukanan Building, 1st Floor

Street               : Salwa Road

 

PO Box             : 5842

 

Town                 : Doha

Country             : Qatar

 

Telephone         : (974) 44693281 / 44693560 / 44497525

Facsimile          : (974) 44693284 / 44503093 / 44497531

Mobile               : (974) 55888152

Email                : sahabahfoods@qatar.net.qa

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Doha.

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                 Position

 

·       Ismail Ahmed Al Fathala                    Palestinian                                Managing Director

 

·       Abdullah Ali Al Ghanem                       Qatari                                     Director

 

·       Mohamed Ahmed Fathala                         -                                        General Manager

 

·       Mohamed Al Sayed                                  -                                        Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1993, however subject was registered on 31st May 2000.

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 22663, Doha

 

Chamber Member No. : 5235/1

 

Issued Capital              : QR 200,000

 

Paid up Capital            : QR 200,000

 

Name of Shareholder (s)                         Percentage

 

·       Abdullah Ali Al Ghanem                                      51%

 

·       Ismail Ahmed Al Fathala                                     49%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of frozen food, juices, fruit & vegetables, meat and poultry, and

     processed food.

 

Import Countries: Thailand, India, Philippines, Italy, South Africa, Australia, Brazil and the United Kingdom.

 

International Suppliers:

 

·       Delmonte                  Philippines

·       Medfruits                  Italy

·       Moon                       South Africa

·       Sadia Chicken          Brazil

 

Operating Trend: Steady

 

Subject has a workforce of 15 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Qatari Riyals (QR)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                QR 8,900,000                            QR 9,400,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Qatar National Bank

Government House Road

PO Box: 1002

Doha

Tel: (974) 44413511 / 44407407

Fax: (974) 44415020

 

·       Doha Bank Ltd

PO Box: 3818

Doha

Tel: (974) 44435444

Fax: (974) 44416631 / 44410625

 

·       Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44428686

Fax: (974) 44428734

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1993, Al Sahba Foodstuff Trading Co WLL is engaged in the import and distribution of frozen food, juices, fruit & vegetables, meat and poultry, and processed food.

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.43

UK Pound

1

Rs.71.89

Euro

1

Rs.63.41

 

 

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.