MIRA INFORM
REPORT
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Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ALAFAQ FRUIT AND VEGETABLE CO WLL |
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Registered Office : |
Central Market, P
O Box 490, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.01.1990 |
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Com. Reg. No.: |
1836/12 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers
of fruit and vegetables. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Qatar |
a2 |
a2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : ALAFAQ FRUIT AND VEGETABLE CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st January 1990
Commercial Registration Number : 1836/12
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Total Workforce : 35
Activities : Wholesalers and retailers of fruit and vegetables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ALAFAQ FRUIT AND VEGETABLE CO WLL
company ADDRESS
Registered & Physical Address
Location : Central Market
PO Box : 490
Town : Doha
Country : Qatar
Telephone : (974) 44680929
Facsimile : (974) 44680928
Mobile : (974) 5543717
Email : info@qnie.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Sheikh Faisal Bin Jassim Al Thani Qatari Managing Director
·
Ghanem Saeed Majid Qatari Director
·
Ihsan Walid Al Khayami Syrian General Manager
·
Hussain Abu Samra - Commercial
Manager
·
Mostafa El Masry - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
January 1990
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 1836/12
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Name of
Shareholder (s)
·
Sheikh Faisal Bin Jassim Al Thani
·
Ghanem Saeed Majid
AFFILIATED COMPANIES
·
Qatar National Import and Export WLL
Doha
·
Arla
Food Qatar WLL
Doha
·
Alafaq
Real Estate Investment
Doha
·
Al Nama
Real Estate Investment
Doha
OPERATIONS
Activities: Engaged in the wholesale and retail of
fruit and vegetables.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 35 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 11,100,000 QR 11,385,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
United
Bank Ltd
PO Box: 242
Doha
Tel: (974) 44438666 / 44424900
Fax: (974) 44424600
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
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Indian Rupees |
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US Dollar |
1 |
Rs.45.38 |
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UK Pound |
1 |
Rs.73.31 |
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Euro |
1 |
Rs.63.70 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.