MIRA INFORM REPORT
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Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
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Name : |
GULF INTERNATIONAL ENTERPRISES |
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Registered Office : |
Cleopatra
Building, Mushreib Street, P O Box 8339, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
12.06.1994 |
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Com. Reg. No.: |
16710, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuff products |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : GULF INTERNATIONAL ENTERPRISES
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 12th June 1994
Commercial Registration Number : 16710, Doha
Chamber Membership Number : 3549/3
Invested Capital : QR 100,000
Total Workforce : 40
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Alfred Sequeira, General Manager
COMPANY NAME
GULF INTERNATIONAL ENTERPRISES
company ADDRESS
Registered & Physical
Address
Building : Cleopatra Building
Street : Mushreib Street
PO Box : 8339
Town : Doha
Country : Qatar
Telephone : (974) 44417672
Facsimile : (974) 44356041
Mobile : (974) 55530998
Email : alfigie@qatar.net.qa
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 Position
·
Sheikh
Mohamed Jassim Khalid Al Thani Proprietor
·
Alfred
Sequeira General
Manager
·
Rita
Sequeira Finance
Manager
·
Sirjit
Nambiyar Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th
June 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 16710, Doha
Chamber Member No. : 3549/3
Invested Capital
: QR 100,000
Sheikh Mohamed
Jassim Khalid Al Thani is the
sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, including crisps, rice, sugar, tea,
frozen meat and poultry.
Import
Countries: Europe,
Malaysia, India, Brazil and the United Arab Emirates.
International
Suppliers:
·
Mr
Crisps Malaysia
·
Mami
Noodle Malaysia
·
Three
Horses Netherlands
·
Oranjeboom Netherlands
·
Double
Bull Rice India
·
Hunter
Food United Arab Emirates
·
Kikchik
Chicken Brazil
Operating Trend: Steady
Subject has a
workforce of 40 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 37,200,000 QR 40,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Alfred
Sequeira, General Manager
BANKERS
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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.49.08 |
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UK Pound |
1 |
Rs.78.78 |
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Euro |
1 |
Rs.67.76 |
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.