MIRA INFORM REPORT

 

 

Report Date :

22.05.2012

 

IDENTIFICATION DETAILS

 

Name :

AL MUFTAH GROUP WLL

 

 

Registered Office :

Al Muftah Building, Al Saad Street, P O Box 875, Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

27.11.1994

 

 

Com. Reg. No.:

17093

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates several divisions

·         Carpentry Division

Décor & Furniture Division

Elevator Division

Tyres & Lubricants Division

 

 

No. of Employees :

330

 

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

 

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 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                                     : AL MUFTAH GROUP WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 27th November 1994

Commercial Registration Number            : 17093

Issued Capital                                        : QR 3,000,000

Paid up Capital                                      : QR 3,000,000

Total Workforce                                     : 330

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

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

AL MUFTAH GROUP WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Muftah Building

Street               : Al Saad Street

PO Box             : 875

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44446868

Facsimile          : (974) 44441445

Email                : almuftah@almuftah.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdul Rahman Muftah Al Muftah                                                         Managing Director

 

·       Ibrahim Abdul Rahman Muftah Al Muftah                                             Director

 

·       Khalid Abdul Rahman Muftah Al Muftah                                               Director

 

·       Ali Abdul Rahman Muftah Al Muftah                                                    Director

 

·       V K Choudhary                                                                                 Finance Manager          

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th November 1994

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 17093

 

Issued Capital              : QR 3,000,000

 

Paid up Capital            : QR 3,000,000

 

Name of Shareholder (s)

·       Abdul Rahman Muftah Al Muftah

·       Ibrahim Abdul Rahman Muftah Al Muftah

·       Khalid Abdul Rahman Muftah Al Muftah

·       Ali Abdul Rahman Muftah Al Muftah

 

 

AFFILIATED COMPANIES

 

·       Al Muftah Trading & Contracting Co WLL

Al Muftah Building

Al Saad Street

PO Box: 875

Doha

Tel: (974) 44446868

Fax: (974) 44441415

 

·       Al Muftah Business Equipment

PO Box: 875

Doha

Tel: (974) 44441037

 

·       Al Muftah Projects & Industrial Services

PO Box: 2578

Doha

Tel: (974) 44442642

 

·       Al Reemco Trading & Decoration

PO Box: 3358

Doha

Tel: (974) 44323580

 

·       Tristar Group Co WLL

Rayyan Road

PO Box: 4746

Doha

Tel: (974) 44428600

 

·       Sterling Catering Services

Rayyan Road

PO Box: 4746

Doha

Tel: (974) 44320320

 

·       English Modern School

Muntazah Area

PO Box: 875

Doha

Tel: (974) 44672405

 

·       Al Tadomon Motors

PO Box: 4875

Doha

Tel: (974) 44441037

 

 

OPERATIONS

 

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

 

·       Carpentry Division

 

     Engaged in the provision of carpentry work and services.

 

·       Décor & Furniture Division

 

     Engaged in the manufacture of furniture and operates as decoration contractors.

 

·       Elevator Division

 

     Engaged in the import, distribution and maintenance of elevators.

 

·       Tyres & Lubricants Division

 

Engaged in the import and distribution of tyres and lubricants.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 330 employees.

 

 

FINANCIAL DATA

 

Companies registered in Qatar are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Doha Bank Ltd

Salwa Road

PO Box: 2176

Doha

Tel: (974) 44882180 / 44884888 / 44882181

     Fax: (974) 44881768

 

·       Qatar National Bank SAQ

PO Box: 1002

Doha

Tel: (974) 44413511 / 44407407

     Fax: (974) 44415020

 

 

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 and the above credit figure is considered to be within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.68

UK Pound

1

Rs.86.52

Euro

1

Rs.69.86

 

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.