MIRA INFORM REPORT
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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
AL RAIS TRADING ESTABLISHMENT |
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Registered Office : |
Al Asmakh
Street, P O Box 3542 &
4117, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.11.1993 |
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Com. Reg. No.: |
6771, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of electrical household appliances |
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No. of Employees
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22 |
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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Maximum Credit Limit : |
US$ 200,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : AL RAIS TRADING ESTABLISHMENT
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 7th November 1993
Commercial Registration Number : 6771, Doha
Chamber Membership Number : 274/3
Invested Capital : QR 200,000
Total Workforce : 22
Activities : Distributors of electrical household appliances
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
AL RAIS TRADING ESTABLISHMENT
Registered &
Physical Address
Location : Al
Asmakh Street
PO Box : 3542 & 4117
Town : Doha
Country : Qatar
Telephone : (974) 44322727
/ 44438999 / 44414050 / 44422744
Facsimile : (974) 44424818
/ 44427880
Email : generalcol@qatar.net.qa / info@alraisgroup.com / sales@alraisgroup.com
Premises
Subject operates
from a medium sized suite of offices and a showroom with storage facilities
that are rented and located in the Central Business Area of Doha.
Name Nationality Position
·
Abdulrazzaq Shukrullah Al Rais Qatari Proprietor
·
Mohamed Abdulrazzaq Shukrullah Al Rais Qatari General
Manager
·
Azzar
Al Islam - Assistant
General Manager
·
Hani Shaker - Advertising
Manager
Date of Establishment : 7th
November 1993
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 6771, Doha
Chamber Member No. : 274/3
Invested Capital
: QR 200,000
Mr Abdulrazzaq Shukrullah Al Rais is the sole
proprietor of the business.
Activities: Engaged in the import, distribution of
household appliances, including refrigerators, televisions, deep
freezers, irons, vacuum
cleaners, gas cookers and other electrical household equipment.
Import
Countries: Malaysia and
China.
International Suppliers:
·
Everest Malaysia
·
General
Col China
·
Media China
Operating Trend: Steady
Subject has a
workforce of 22 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
14,750,000 QR
14,910,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank
Saderat Iran
PO Box: 2256
Doha
Tel: (974) 44430346 / 44430344
Fax: (974) 44430121
No complaints
regarding subject’s payments have been reported.
Credit amount 200,000 150,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
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 |
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US Dollar |
1 |
Rs.49.85 |
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UK Pound |
1 |
Rs.77.97 |
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Euro |
1 |
Rs.65.62 |
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 |
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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.