MIRA INFORM REPORT

 

 

Report Date :

03.07.2013

 

IDENTIFICATION DETAILS

 

Name :

AL MAJID JAWAD (AMJAD) WLL

 

 

Registered Office :

City Investment Building, Office No. 3, C Ring Road, PO Box 19100, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

22.02.1994

 

 

Com. Reg. No.:

16369, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject’s activities are performed through the following divisions

·         Marketing Distribution Agency (MDA) Division,

·         Restaurant Division.

 

 

No. of Employees :

180

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

 Qatar

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

QATAR - ECONOMIC OVERVIEW

 

Qatar has prospered in the last several years with continued high real GDP growth. Throughout the financial crisis Qatari authorities sought to protect the local banking sector with direct investments into domestic banks. GDP had rebounded in 2010 largely due to the increase in oil prices, and 2011's growth was supported by Qatar's investment in expanding its gas sector. GDP slowed to 6.3% in 2012 as Qatar's gas sector expansion moved toward completion. Economic policy is focused on developing Qatar's nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar the world's highest per-capita income country and the country with the lowest unemployment. Proved oil reserves in excess of 25 billion barrels should enable continued output at current levels for 57 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 13% of the world total and third largest in the world. Qatar's successful 2022 world cup bid will likely accelerate large-scale infrastructure projects such as Qatar's metro system, light rail system, and the Qatar-Bahrain causeway. The Hamad International Airport is projected to open by the end of 2013 with an annual passenger capacity of 24 million.

 

Source : CIA

 

 

 

SUMMARY

 

Company Name                         : AL MAJID JAWAD (AMJAD) WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 22nd February 1994

Commercial Registration Number            : 16369, Doha

Chamber Membership Number                : 1018/1

Issued Capital                                        : QR 200,000

Paid up Capital                                      : QR 200,000

Total Workforce                                     : 180

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

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Mohamed Jaber, Financial Manager

 

 

 

 

 

COMPANY NAME

 

AL MAJID JAWAD (AMJAD) WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : City Investment Building, Office No. 3

Street               : C Ring Road

PO Box             : 19100

Town                 : Doha

Country             : Qatar

 

Telephone         : (974) 44356440 / 44356446

Facsimile          : (974) 44357350

Email                : amj@qatar.net.qa

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Ramada Hotel                                                                                   Restaurant premises

     Doha

 

·       Landmark Shopping Mall                                                                    Restaurant premises

     Doha

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ahmed Mahdi Al Majid                                                                       Managing Director

 

·       Faisal Hassan Jawad                                                             Director

 

·       Anil Ibrahim                                                                                      General Manager

 

·       Kevin Critshell                                                                                   Operations Manager

 

·       Mohamed Jaber                                                                                Financial Manager

 

·       Ravin Dimill                                                                                       Restaurant Operations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22nd February 1994

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 16369, Doha

 

Chamber Mem. No.      : 1018/1

 

Issued Capital              : QR 200,000

 

Paid up Capital            : QR 200,000

 

Name of Shareholder (s)

 

·       Ahmed Mahdi Al Majid

 

·       Faisal Hassan Jawad

 

 

AFFILIATED COMPANIES

 

·       Al Majid Group

Doha

     Tel: (974) 44478478

     Fax: (974) 44477700

 

 

OPERATIONS

 

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

 

·       Marketing Distribution Agency (MDA) Division:

 

       Under this division subject operates as a marketing agency specialising in consumable products and general foodstuff items.

 

·       Restaurant Division

 

Through this division the company operates two fast food restaurants under franchise from “Dairy Queen” of the United States of America. Subject is in the process of opening a new restaurant in October 2012 called the “Out Back Steak House”.

 

Import Countries: Italy, United Kingdom, Thailand, New Zealand, Brazil and the United States of America

 

Agencies Held:

 

·       Azipal Chicken                      Brazil

·       Jasmine Rice                        Thailand

·       Anchor Milk Powder              New Zealand

·       Highland Spring Water Ltd     United Kingdom

·       Nestle Products                    Italy

·       Amrol Confectionery Corp      United States of America

·       Cumberland Packing Corp      United States of America

 

Operating Trend: Steady

 

Subject has a workforce of 180 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Qatari Riyals (QR)

 

                                                Year Ending 31/12/11:                Year Ending 31/12/12:

 

Total Sales                                QR 147,435,000             QR 151,200,000

 

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

 

The above figures were provided by Mr Mohamed Jaber, Financial Manager

 

 

BANKERS

 

·       Commercial Bank of Qatar Ltd (QSC)

PO Box: 3232

Doha

Tel: (974) 44490222

Fax: (974) 44438182

 

·       Doha Bank Ltd

Al Jasrah Street

PO Box: 3818

Doha

Tel: (974) 44435444

Fax: (974) 44416631 / 44410625

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                  September 2000           June 2003                    September 2003

Credit amount                            20,000                          100,000             300,000

Amount overdue             0                                  0                                  0

Payment terms                          60 days                         60 days                         60 days

Payment Method                       Letters of Credit             Letters of Credit             Letters of Credit

Paying record                            No Complaints               No Complaints               No Complaints

Currency                                   Pounds Sterling             US Dollars                     US Dollars

 

 

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.59.41

UK Pound

1

Rs.90.38

Euro

1

Rs.77.60

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.