MIRA INFORM REPORT
|
Report Date : |
16th May 2006 |
IDENTIFICATION DETAILS
|
Name : |
MANNAI
CORPORATION QSC |
|
|
|
|
Registered Office : |
Mannai Complex Salwa Road, Ramada Junction Salwa Industrial Area 76, Doha Qatar |
|
|
|
|
Date of Incorporation : |
14th
August 1982 |
|
|
|
|
Com. Reg. No.: |
12,
Doha |
|
|
|
|
Legal Form : |
Qatari
Shareholding Company - QSC |
|
|
|
|
Line of Business : |
Holding company for the
Mannai Group as well as operating a number of divisions. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 750,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
MANNAI CORPORATION QSC |
|
Country of Origin |
Qatar |
|
Legal Form |
Qatari Shareholding Company - QSC |
|
Start Date |
1951 |
|
Registration Date |
14th August 1982 |
|
Commercial Registration Number |
12, Doha |
|
Issued Capital |
QR 210,000,000 |
|
Paid up Capital |
QR 210,000,000 |
|
Total Workforce |
1,700 |
|
Line of Business |
Holding company for the Mannai Group as well as operating a number of divisions. |
|
Financial Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
MANNAI CORPORATION QSC
ADDRESS
Registered & Physical Address
Building : Mannai Complex
Street : Salwa Road, Ramada Junction
Area : Salwa Industrial Area
PO Box : 76
Town : Doha
Country : Qatar
Telephone : (974) 4558888
Facsimile : (974) 4558880
Email : mancorp@mannai.com.qa
Premises
Subject operates from a large suite of offices, workshops and warehousing facilities that are owned and located in the Industrial Area of Doha.
KEY PRINCIPALS
Ahmed Abdullah Al Mannai Chairman
Khalid Attiyah Al Mannai Managing Director
Abdullah Ahmed Abdullah Al Mannai Director
Peter Rush General Manager
Alekh Grewal Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s operations date back to 1951, however it was registered on 14th August 1982.
Legal Form : Qatari Shareholding Company - QSC
Commercial Reg. No. : 12, Doha
Issued Capital : QR 210,000,000
Paid up Capital : QR 210,000,000
Name of Shareholder (s)
Ahmed Abdullah Al Mannai
Khalid Attiyah Al Mannai
Abdullah Ahmed Abdullah Al Mannai
AFFILIATED COMPANIES
Subject is a member of the Mannai Group of Companies, which comprises the following concerns:
Mannai Trading Co Ltd
Rayyan Road
Salwa Industrial Area
PO Box: 76
Doha
Tel: (974) 4412555 / 4600111
Fax: (974) 4411982 / 4601780
Mansal Offshore QSC
Mannai Complex
Salwa Road
PO Box: 1310
Doha
Tel: (974) 4425755 / 4421202
Fax: (974) 4433626 / 4558228
Email: mansal@mannai.com.qa
Mideast Constructors WLL
PO Box: 3325
Doha
Tel: (974) 4415025 / 4558888
Fax: (974) 4558097
Email: mecon@mannai.com.qa
Manweir Limited
PO Box: 4038
Doha
Tel: (974) 4600099
/4601721 / 4600111
Fax: (974) 4601883
Email: manweir@mannai.com.qa
Technical Services Company Ltd (Techserv)
PO Box: 4038
Doha
Tel: (974) 4810111
A.G. Middle East
PO Box: 76
Doha
Tel: (974) 4419099
Fax: (974) 4354571
Email: agme@mannai.com.qa
Mannai Marine Co Ltd
PO Box: 8776
Doha
Tel: (974) 4412230 / 4412240
Manwell Technical Services
PO Box: 76
Doha
Tel: (974) 4810171
Fax: (974) 4601780
Mannai Air Travel
PO Box: 76
Doha
Tel: (974) 4442423
Mannai International LLC
PO Box: 9204
Dubai
United Arab Emirates
Tel: (971-4) 3373712
Fax: (971-4) 3440165
E.I.M. Investment Company Ltd
Autostrade Road
Mokattan
El Qalaa Free Zone
Cairo
Egypt
Tel: (20-2) 5060451
LINE OF BUSINESS
Operations : The Mannai Corporation QSC acts as a
holding company for the Mannai Group of Companies offering a central
co-ordination and support for the various companies. As well as this function
the subject also operates the following divisions:
Consumer Products Division
Engaged in the marketing and distribution of well-known brands of home appliances, TV & Video equipment and air-conditioners. Subject stocks brands such as Toshiba, White-Westinghouse, Ignis, Moulinex, Coleman, Seiko, and Bompani.
Energy & Industrial Markets Division
This division represents the start-up point for winning projects in Qatar. It is responsible for trading, partnering and identifying of new projects in the State of Qatar.
Computer
& Office Systems Division (COS)
This
division provides IT Services, telecommunication equipment, office automation
products and office interiors. It started in 1983 and have undergone steady
growth and are now the authorized dealers for
HP and Compaq products. On the Software side, COS is Oracle’s Certified
e-Business Solutions Partner. It also markets a range of office products like
copiers, printers, office furniture and paper handling equipment.
Heavy Equipment Division
Engaged in the import and distribution of heavy construction equipment and machinery, diesel engines, transmission, fuel pumps, and fuel injectors. It also provides repair and maintenance services.
Import Countries : Europe, United States of America
and the Far East.
Subject has a workforce of approximately 1,700 employees.
FINANCIAL HIGHLIGHTS
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
HSBC Bank Middle East
Abdullah Bin Jassim Street
PO Box : 57
Doha
Tel : (974) 4423124
Fax : (974) 4416353
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction March 2001
Credit amount 100,000
Amount overdue 0
Payment terms 60 days
Payment Method Letters of Credit
Paying record No Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Mannai Corporation QSC has operations dating back to 1951 acts as a holding company for the Mannai Group as well as operating a number of divisions.
Subject is a member of the Mannai Group of Companies, which has a number of diversified ventures located throughout the country.
No problems were uncovered during this investigation regarding either the payment record or the operating history. In view of the above comments we are of the opinion that the subject is trustworthy for respecting its financial trade commitments.
Maximum suggested credit figure: US$ 750,000
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |