MIRA INFORM REPORT

 

 

Report Date :           

04.10.2011

 

IDENTIFICATION DETAILS

 

Name :

RAWNAQ CO WLL

 

 

Registered Office :

Al Tarbiya Street, Al Aswaq Commercial Area, P O Box 9261, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.03.1992

 

 

Com. Reg. No.:

14336, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Wholesale and retail of stationery, gift items, crystal ware, household   appliances and school accessories

 

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$ 200,000

 

 

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

 

SUMMARY

 

Company Name                                     : RAWNAQ CO WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Start Date                                             : 1989

Registration Date                                   : 2nd March 1992

Commercial Registration Number            : 14336, Doha

Membership Number                              : 02475/1

Issued Capital                                        : QR 400,000

Paid up Capital                                      : QR 400,000

Total Workforce                                     : 18

Activities                                               : Wholesale and retail of stationery, gift items, crystal ware, household

                                                              appliances and school accessories.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Mohamed El Sayed, Finance Manager

 

COMPANY NAME

 

RAWNAQ CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Tarbiya Street

Area                 : Al Aswaq Commercial Area

PO Box             : 9261

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44881878 / 44414525 / 44414420

Facsimile          : (974) 44414490

Email                : alrawnaq@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.

 

Branch Office (s)

 

Location                                                                                          Description

 

·       Bin Omran Area                                                                                Showroom premises

Doha

Tel: (974) 44885808

 

·       Airport Road                                                                                     Showroom premises

Doha

Tel: (974) 44669555

 

·       Al Rawnaq Centre                                                                             Showroom premises

Doha

     Tel: (974) 44414505

 

·       Wakraa Area                                                                                    Showroom premises

Doha

Tel: (974) 44649185

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Ibrahim Al Darwish                                                 Managing Director

 

·       Ibrahim Mohamed Ibrahim Al Darwish                                      Director

 

·       Mohamed Ibrahim Mubarak                                                                Commercial Manager

 

·       Mohamed El Sayed                                                                           Finance Manager

 

·       Shams Al Haq                                                                                  Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1989, however subject was registered on 2nd March 1992

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 14336, Doha

 

Membership No.          : 02475/1

 

Issued Capital              : QR 400,000

 

Paid up Capital            : QR 400,000

 

Name of Shareholder (s)

·       Mohamed Ibrahim Al Darwish

·       Ibrahim Mohamed Ibrahim Al Darwish

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of stationery, gift items, crystal ware, household appliances and

    school accessories.

 

Import Countries: United Kingdom, France, India and Taiwan

 

Operating Trend: Steady

 

Subject has a workforce of 18 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 9,180,000                            QR 10,000,000

 

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

 

The above figures were provided by Mr Mohamed El Sayed, Finance Manager

 

 

BANKERS

 

·       Qatar International Islamic Bank

PO Box: 664

Doha

Tel: (974) 44435535 / 44435548

Fax: (974) 44444101

 

 

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 and the above credit figure is within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.42

UK Pound

1

Rs.76.72

Euro

1

Rs.65.85

 

 

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.