MIRA INFORM
REPORT
|
Report Date : |
25.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAHAD TRADING CONTRACTING SERVICES GALLERY
AND CO WLL |
|
|
|
|
Registered Office : |
Al Mansoura Road,
Plot No. 25, P O Box 17285, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
16.06.2009 |
|
|
|
|
Com. Reg. No.: |
25027, Doha |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Wholesale and retail of building materials, plumbing materials and sanitaryware products as well as offering plumbing contracting services |
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 : |
US$ 150,000 |
|
Status : |
Satisfactory |
|
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, 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 |
Bottom of Form
SUMMARY
Company Name : FAHAD TRADING CONTRACTING SERVICES GALLERY AND CO
WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 16th June 2009
Commercial Registration Number : 25027, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 12
Activities : Wholesale and retail of building materials, plumbing materials and
sanitaryware products as well as offering plumbing contracting services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mohamed Yacoub Miah, Financial Controller
COMPANY NAME
FAHAD TRADING
CONTRACTING SERVICES GALLERY AND CO WLL
company ADDRESS
Registered & Physical Address
Location : Al Mansoura Road, Plot No. 25
PO Box : 17285
Town : Doha
Country : Qatar
Telephone : (974) 44432892
Facsimile : (974) 44317064
Mobile : (974) 55522453
Email : kareematamim@qatar.net.qa
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Ismail Miah Bangladeshi Managing Director
·
Fahd
Otaiba Hassan Otaiba Al Mazrouie Qatari Director
·
Abdullah
Mohamed - General
Manager
·
Sayed
Ayoub Eddine - Commercial
Manager
·
Mohamed
Yacoub Miah - Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 16th
June 2009
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 25027, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Mohamed
Ismail Miah
·
Fahd
Otaiba Hassan Otaiba Al Mazrouie
OPERATIONS
Activities: Engaged in the wholesale and retail of
building materials, plumbing materials and sanitaryware products. Subject also
offers plumbing contracting services.
Import
Countries: Germany, Italy
and India.
International
Suppliers:
·
Inchor India
·
GFC India
·
Kitchen
Maker Germany
·
Grohe Germany
·
Bonus Italy
Operating Trend: Steady
Subject has a workforce
of 12 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 2,450,000 QR 2,800,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Yacoub Miah, Financial Controller
BANKERS
·
Doha
Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.25 |
|
UK Pound |
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.