MIRA INFORM REPORT

 

 

Report Date :

11.07.2012

 

IDENTIFICATION DETAILS

 

Name :

ALMANA AND PARTNERS WLL

 

 

Registered Office :

Nasrallah Centre, 1st Floor, Al Khaleejis Street, Al Jasra Area, P O Box 49, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

9134, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates several divisions

·         FMCG Division

Office Equipment Division

Electrical & Appliance Division

 

 

No. of Employees :

340

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : ALMANA AND PARTNERS WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Start Date                                             : 1959

Registration Date                                   : 1991

Commercial Registration Number            : 9134, Doha

Chamber Membership Number                : 1/1136

Issued Capital                                        : QR 1,000,000

Paid up Capital                                      : QR 1,000,000

Total Workforce                                     : 340

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

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Fadi Quitisha, Finance Manager

COMPANY NAME

 

ALMANA AND PARTNERS WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Nasrallah Centre, 1st Floor

Street               : Al Khaleejis Street

Location            : Al Jasra Area

PO Box             : 49

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44422221

Facsimile          : (974) 44439610

Email                : almanaco@qatar.net.qa

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Saad Mohamed Abdullatif Almana                                                      Chairman

·       Khalid Mohamed Abdullatif Almana                                                     Managing Director

·       Ahmed Abdul Rahman Almana                                                           Director

·       Abdulla Abdul Rahman Almana                                                          Director

·       Fadi Quitisha                                                                                    Finance Manager

·       Anil Kumar Daz                                                                                 Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1959, however it was registered in 1991

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 9134, Doha

 

Chamber Member No. : 1/1136

 

Issued Capital              : QR 1,000,000

 

Paid up Capital            : QR 1,000,000

 

Name of Shareholder (s)

·       Saad Mohamed Abdullatif Almana

·       Khalid Mohamed Abdullatif Almana

·       Ahmed Abdul Rahman Almana

·       Abdulla Abdul Rahman Almana

 

 

AFFILIATED COMPANIES

 

·       Qatar Cleaning Company

PO Box: 5772

Doha

Qatar

Tel: (974) 44870083

Fax: (974) 44872610

Email: qccclean@qatar.net.qa

 

·       Almana Engineering & Contracting Company

PO Box: 1909

Doha

Qatar

Tel: (974) 44328390

Fax: (974) 44427294

Email: almanae@qatar.net.qa

 

 

OPERATIONS

 

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

 

·       FMCG Division

 

Engaged in the import and distribution of personal care and hygiene products, including razors and shaving equipment.

 

·       Office Equipment Division

 

     Engaged in the import and distribution of office equipment and machinery, including faxes and photocopiers.

 

·       Electrical & Appliance Division

 

Engaged in the import and distribution of household electrical appliances, including refrigerators, air conditioning systems, televisions and dishwashers.

 

Import Countries: Europe, United States of America and the Far East.

 

International Suppliers:

 

·       Konica Minolta                      Japan

·       Godrej                                  India

·       Alcad Ltd                              United Kingdom

·       Brintons                               UK

·       Camborne                             UK

·       Cebag BV                                     Netherlands

·       Frigidaire International            United States of America

·       Daewoo Airconditioners         Korea

·       Keeprite                               Canada

 

Operating Trend: Steady

 

Subject has a workforce of approximately 340 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 296,000,000             QR 310,000,000

 

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

 

The above figures were provided by Mr Fadi Quitisha, Finance Manager

 

 

BANKERS

 

·       HSBC Bank Middle East

Abdullah Bin Jassim Street

PO Box: 57

Doha

Tel: (974) 44423124

Fax: (974) 44416353

 

·       ANZ Grindlays Bank Plc

Rayyan Road

PO Box: 2001

Doha

Tel: (974) 44418222 / 44327711

Fax: (974) 44428077

 

·       Standard Chartered Bank

Abdullah Bin Jassim Road

PO Box: 29

Doha

Tel: (974) 44414252

Fax: (974) 44413739

 

 

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.55.81

UK Pound

1

Rs.86.53

Euro

1

Rs.68.58

 

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%)

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.