MIRA INFORM REPORT

 

 

Report Date :           

28.09.2011

 

IDENTIFICATION DETAILS

 

Name :

AL TAQADOM TRADING COMPANY WLL

 

 

Registered Office :

Al Handasah Street (Civil Engineering Street), P O Box     5513, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.01.1991

 

 

Com. Reg. No.:

7220, Dubai

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates through several divisions

 

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 :

Usually Correct

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                                     : AL TAQADOM TRADING COMPANY WLL

Also Known As                                      : ULTRA MODERN NOVELTY

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 1st January 1991

Commercial Registration Number            : 7220, Dubai

Chamber Membership Number                : 219/1

Issued Capital                                        : QR 400,000

Paid up Capital                                      : QR 400,000

Total Workforce                                     : 25

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

AL TAQADOM TRADING COMPANY WLL

 

 

ALSO KNOWN AS

 

ULTRA MODERN NOVELTY

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Al Handasah Street (Civil Engineering Street)

PO Box             : 5513

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44418035 / 44418038

Facsimile          : (974) 44328351

Email                : altqdum@qatar.net.qa

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Salman Abdul Rasool Al Mansouri                                                      Managing Director

 

·       Jassim Hassan Khalf                                                                         Director

 

·       Omar Al Mannai                                                                                Director

 

·       C P Sagar                                                                                        Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st January 1991

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 7220, Dubai

 

Chamber Member No. : 219/1

 

Issued Capital              : QR 400,000

 

Paid up Capital            : QR 400,000

 

Name of Shareholder (s)

 

·       Salman Abdul Rasool Al Mansouri

 

·       Jassim Hassan Khalf

 

·       Omar Al Mannai

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       Office Equipment Division

 

Engaged in the import and distribution of stationery, shredders, cabinets, filing systems, photocopiers and computer consumables.

 

·       Ultra Modern Novelty Division

 

Engaged in the import and distribution of novelty items and products.

 

Import Countries: Japan, Germany and the United Kingdom

 

Brand Names: EPSON, SHARP, HP and SAMSUNG

 

Operating Trend: Steady

 

Subject has a workforce of 25 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 Sale                                  QR 12,440,000                          QR 12,910,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44490222

Fax: (974) 44438182

 

 

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.49.18

UK Pound

1

Rs.76.65

Euro

1

Rs.66.63

 

 

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.