MIRA
INFORM REPORT
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Report Date : |
9th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
POWER
WLL TRADE & SERVICES WLL |
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Registered Office : |
Wikalat
Street, Between 29th & 30th Streets, Industrial
Area, PO Box: 31931, Doha, Qatar |
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Country : |
Qatar |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
29042, Doha |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Wholesalers and retailers of automotive spare parts and related accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$
150,000 |
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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 |
POWER TRADE & SERVICES 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 |
2004 |
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Commercial Registration Number |
29042, 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 |
6 |
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Line of Business |
Wholesalers and retailers of automotive spare parts and related accessories. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
POWER
TRADE & SERVICES WLL
ADDRESS
Registered & Physical Address
Street : Wikalat Street, Between 29th
& 30th Streets
Area : Industrial Area
PO Box : 31931
Town : Doha
Country : Qatar
Telephone : (974) 4607586
Facsimile : (974) 4607586
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Magdi
Abdul Maksoud Zahran Egyptian Managing Director
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Neshat
Nasif Egyptian Director
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Eid
Abdullah Al Mohandi Qatari Director
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 29042, Doha
Issued
Capital : QR 200,000
Paid
up Capital : QR 200,000
Name of Shareholder (s) Percentage
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Eid
Abdullah Al Mohandi 51%
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Magdi
Abdul Maksoud Zahran 25%
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Neshat
Nasif 24%
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
: Engaged in the
wholesale and retail of automotive spare parts and related accessories.
Import
Countries :
Europe and Japan.
Operating
Trend : Steady
Subject
has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Qatari Riyals (QR)
Year
Ending 31/12/05 :
Total
Revenue QR
3,875,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Doha
Bank Ltd
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
Acc No. 227-130399-1-10-0
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2004, subject is involved in the wholesale and retail of automotive spare
parts and related accessories.
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.
Maximum
suggested credit figure: US$ 150,000
RATING EXPLANATIONS
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RATING |
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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