MIRA INFORM REPORT

Report Date :

07.07.2012

IDENTIFICATION DETAILS

Name :	MODERN FOOD CENTRE

Registered Office :	Street No. 36, Gate No. 58, Industrial Area, P O Box 21419, Doha

Country :	Qatar

Financials (as on) :	31.12.2011

Year of Establishment :	2000

Com. Reg. No.:	44436, Doha

Legal Form :	Limited Liability Company

Line of Business :	Wholesale and packaging of general dried foodstuff, rice, spices and sugar

No. of Employees :	24

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Qatar

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : MODERN FOOD CENTRE

Country of Origin : Qatar

Legal Form : Limited Liability Company – LLC

Start Date : 2000

Registration Date : 1^st June 2009

Commercial Registration Number : 44436, Doha

Issued Capital : QR 3,200,000

Paid up Capital : QR 3,200,000

Total Workforce : 24

Activities : Wholesale and packaging of general dried foodstuff, rice, spices and

sugar.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

MODERN FOOD CENTRE

company ADDRESS

Registered & Physical Address

Street : Street No. 36, Gate No. 58

Area : Industrial Area

PO Box : 21419

Town : Doha

Country : Qatar

Telephone : (974) 44602007

Fax : (974) 44602074

Mobile : (974) 66755741

Email : mfcmodern@gmail.com / modernfood@qatar.net.qa

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Mubarak Abdul Ahad Indian Managing Director

· Alexander Thomas Indian Director

· Joepachan T G Tehekkuetu Indian Director

· Hamad Khamis Obaidly Qatari Director

· Rassak V V - General Manager

LEGAL FORM & OWNERS

Date of Establishment: 2000, however subject was registered on 1^st June 2009

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 44436, Doha

Issued Capital : QR 3,200,000

Paid up Capital : QR 3,200,000

Name of Shareholder (s)

· Hamad Khamis Obaidly

· Mubarak Abdul Ahad

· Alexander Thomas

· Joepachan T G Tehekkuetu

OPERATIONS

Activities: Engaged in the import, wholesale and packaging of general dried foodstuff, rice, spices and sugar.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 24 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Qatari Riyals (QR)

Year Ending 31/12/10: Year Ending 31/12/11:

Total Sales QR 10,400,000 QR 11,000,000

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

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

BANKERS

· 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

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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.42
UK Pound	1	Rs.86.04
Euro	1	Rs.68.61

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.