MIRA INFORM REPORT

Report Date :

22.05.2012

IDENTIFICATION DETAILS

Name :	NATIONAL MATTRESS FACTORY (MATNAFLEX)
Registered Office :	Street No. 10, Gate 52, Industrial Area, P O Box 7505, Doha
Country :	Qatar
Date of Incorporation :	17.01.2011
Com. Reg. No.:	4225/9, Doha
Legal Form :	Sole Proprietorship
Line of Business :	Manufacturers of mattress springs and bed accessories
No. of Employees :	70

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 31^st, 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 : NATIONAL MATTRESS FACTORY (MATNAFLEX)

Country of Origin : Qatar

Legal Form : Sole Proprietorship

Registration Date : 17^th January 2011

Commercial Registration Number : 4225/9, Doha

Invested Capital : QR 4,000,000

Total Workforce : 70

Activities : Manufacturers of mattress springs and bed accessories.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

NATIONAL MATTRESS FACTORY (MATNAFLEX)

company ADDRESS

Registered & Physical Address

Street : Street No. 10, Gate 52

Area : Industrial Area

PO Box : 7505

Town : Doha

Country : Qatar

Telephone : (974) 44601356

Facsimile : (974) 44653777 / 44602690

Email : aljameel@qatar.net.qa

Premises

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

KEY PRINCIPALS

Name Position

· Mohamed Abulrahim Al Emadi Proprietor & General Manager

· Fahd Mohamed Abulrahim Al Emadi Assistant General Manager

· Emad Hamid Commercial Manager

· Shadi Abdullah Mohamed Production Manager

LEGAL FORM & OWNERS

Date of Establishment : 17^th January 2011

Legal Form : Sole Proprietorship

Commercial Reg. No. : 4225/9, Doha

Invested Capital : QR 4,000,000

Mr Mohamed Abulrahim Al Emadi is the sole proprietor of the business.

AFFILIATED COMPANIES

· National Foam Factory

Doha

· Al Jameel Exhibition

Airport Road

Doha

Tel: (974) 44650101 / 44650202 / 44650303

OPERATIONS

Activities: Engaged in the manufacture of mattress springs and bed accessories. Subject also distributes sofas and other furniture.

Import Countries: Europe and the Far East.

Subject has a workforce of 70 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

· Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44490222

Fax: (974) 44438182

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%)

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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.