MIRA INFORM REPORT
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Report Date : |
12th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AL
SHAMAL CONTRACTING CO WLL |
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Registered Office : |
Mushreb
Street 13200,
Doha Qatar |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
4520, Doha |
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Legal Form : |
With Limited Liability -
WLL |
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Line of Business : |
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RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL SHAMAL CONTRACTING CO WLL |
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Country of Origin |
Qatar |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
1992 |
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Commercial Registration Number |
4520, Doha |
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Issued Capital |
QR 200,000 |
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Paid up Capital |
QR 200,000 |
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Total Workforce |
120 |
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Line of Business |
Subject operates several divisions (see below for details). |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL SHAMAL
CONTRACTING CO WLL
ADDRESS
Registered &
Physical Address
Location : Mushreb Street
PO Box : 13200
Town : Doha
Country : Qatar
Telephone : (974) 4363581
Facsimile : (974) 4697718
Mobile : (974) 5560185 / 5801611
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Doha.
KEY PRINCIPALS
Abdulla Ali Ba
Matter Manai Managing
Director
Mohamed Abdullah
Ali Ba Matter Manai Director
Hamad Abdullah Ali
Ba Matter Manai Director
K L Hassan General
Manager
C V Mosan Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1992
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With
Limited
Liability - WLL)
Commercial Reg.
No. : 4520, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
Abdulla Ali Ba
Matter Manai
Mohamed Abdullah
Ali Ba Matter Manai
Hamad Abdullah Ali
Ba Matter Manai
Note to the
Legal Form
A limited liability
company must have between two and thirty members. Its minimum capital cannot be
less than QR 200,000. The capital is divided into shares of not less than QR 1,000 each. The company must keep a
register of members. The liability of members is restricted to the nominal
value of their shares in the registered capital.
LINE OF BUSINESS
Operations : Subject’s activities are performed through
the following divisions:
Abdullah Ali & Sons Foodstuff Division
Engaged in the
import and distribution of general foodstuff products.
Contracting Division
Engaged as general
building, construction and maintenance contractors.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 120 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total Revenue QR 18,900,000 QR 22,250,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
Commercial Bank of
Qatar Ltd (QSC)
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 15,000,000:
Established in
1992, subject is owned and managed by members of the Manai family who are well
respected in the local business community.
According to local
sources subject is making steady progress in the local business market and nothing
detrimental has been reported regarding the manner in which payments are
fulfilled. As such the business is considered to be a fair trade risk.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent.
Maximum suggested
credit figure: US$ 250,000
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |