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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
KINGFISHER FOODS WLL |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.02.2008 |
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Com. Reg. No.: |
38124, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesalers and retailers of seafood and related products. |
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No. of Employees : |
9 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : KINGFISHER FOODS WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 7th February 2008
Commercial Registration Number : 38124, Doha
Membership Number : 15485/1
Import Licence Number : 62459
Issued Capital : QR 1,500,000
Paid up Capital : QR 1,500,000
Total Workforce : 9
Activities : Wholesalers and retailers of seafood and related products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Abdoun, Finance Manager
KINGFISHER FOODS WLL
Building : Al Otaibi
Building
Street : Old Al
Rayyan Road
Area : Al Rayyan
Area
PO Box : 31644 &
37936
Town : Doha
Country : Qatar
Telephone : (974) 44820968
Facsimile : (974) 44816625
Email : kingfisherfoodsdoha@gmail.com
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Suburban Business Area of Doha.
Name Position
· Sheikh Sultan Bin Ahmed Bin Sultan Jassim Al Thani Managing Director
· Sheikh Hamad Bin Ahmed Bin Sultan Jassim Al Thani Director
· Mohan Daz General
Manager
· Mohamed Abdoun Finance
Manager
· Mohamed Kinakool Sales
Manager
· Sunil Kunath Purail Operations
Manager
Date of
Establishment : 7th
February 2008
Legal Form : With Limited
Liability – WLL
Commercial Reg. No. : 38124, Doha
Membership No. :
15485/1
Import Lic. No. : 62459
Issued Capital : QR 1,500,000
Paid up Capital : QR 1,500,000
· Sheikh Sultan Bin Ahmed Bin Sultan Jassim Al Thani
· Sheikh Hamad Bin Ahmed Bin Sultan Jassim Al Thani
Activities: Engaged in the wholesale and retail of seafood and related products.
Import Countries: India, China, Vietnam, Australia and the United
Arab Emirates.
Operating Trend: Steady
Subject has a workforce of 9 employees.
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
19,000,000 QR
23,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Abdoun,
Finance Manager
·
Qatar Islamic Bank
Al Khleej
Insurance Building
Grand Hamad Avenue
PO Box: 559
Doha
Tel: (974)
44409409
Fax: (974)
44412700
No complaints regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.37 |
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|
1 |
Rs.87.44 |
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Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.