MIRA INFORM REPORT

 

 

Report Date :           

20.10.2011

 

IDENTIFICATION DETAILS

 

Name :

DANDY COMPANY LTD

 

 

Formerly Known As :

GULF WILLIAMS AND DANISH DAIRY CO

 

 

Registered Office :

Commercial Building, 1st Floor, Ramada Street, P O Box   2239, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1973

 

 

Com. Reg. No.:

6573, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Production of fresh dairy products, fruit juices, flavoured drinks and ice creams as well as long life food products

 

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$ 750,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                                     : DANDY COMPANY LTD

Previously Known As                              : GULF WILLIAMS AND DANISH DAIRY CO

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 1973

Commercial Registration Number            : 6573, Doha

Chamber Membership Number                : 389/1

Issued Capital                                        : QR 13,500,000

Paid up Capital                                      : QR 13,500,000

Total Workforce                                     : 350

Activities                                               : Production of fresh dairy products, fruit juices, flavoured drinks and ice

                                                              creams as well as long life food products

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 750,000

Person Interviewed                                 : Deepu Joseph, Finance Manager

COMPANY NAME

 

DANDY COMPANY LTD

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Commercial Building, 1st Floor

Street               : Ramada Street

PO Box             : 2239

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44422980 / 44368540

Facsimile          : (974) 44440243

Mobile               : (974) 5621712

Email                : dandy@qatar.net.qa

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Street No. 2 Gate No. 75                                                                   Owned factory premises
Industrial Area

Doha

Tel: (974) 44603500 / 44603600

Fax: (974) 44603700

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sheikh Talal Mohamed Bin Jaber Al Thani                                           Managing Director

 

·       Zubair Siddiqi                                                                                    General Manager

 

·       Rohit Jain                                                                                         Deputy General Manager

 

·       Noorullah Khan                                                                                 Sales Manager

 

·       Hakim Irfan                                                                                       Maintenance Manager

 

·       Shashank Bhaskar                                                                            Production Manager

 

·       Deepu Joseph                                                                                   Finance Manager

 

·       Mohamed Farook                                                                              Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1973

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 6573, Doha

 

Chamber Member No. : 389/1

 

Issued Capital              : QR 13,500,000

 

Paid up Capital            : QR 13,500,000

 

Name of Shareholder (s)                                                     Percentage

 

·       7 Brothers Group Holding Co                                                  75%

PO Box: 3805
Doha

Qatar                                                                         
Tel: (974) 44355501 / 44355502
Fax: (974) 44355504

 

·       Simex Contracting WLL                                                         20%

     Doha

     Qatar

·       Al Basateen Real Estate Co                                                     5%

Doha

Qatar

 

 

OPERATIONS

 

Activities: Engaged in the production of fresh dairy products, fruit juices, flavoured drinks and ice creams as well as long life food products.

 

Import Countries: India, Sri Lanka and Australia

 

Operating Trend: Steady

 

Subject has a workforce of approximately 350 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 65,800,000                          QR 70,000,000

 

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

 

The above figures were provided by Mr Deepu Joseph, 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.49.18

UK Pound

1

Rs.77.49

Euro

1

Rs.67.96

 

 

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.