MIRA
INFORM REPORT
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Report Date : |
15th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
METAL FORMING CENTRE WLL |
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Registered Office : |
Shop
No. 142, Souq Al Harj, PO Box : 7394, Doha, Qatar |
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Country : |
Qatar |
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Date of Incorporation : |
11.05.1979 |
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Com. Reg. No.: |
19099,
Doha |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Manufacturers of scaffolding and other metal products, foundry operators, wrought iron and steel fabrication works, electro-plating and electro-galvanizing. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
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$
300,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
METAL FORMING CENTRE 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 |
11th May 1979 |
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Commercial Registration Number |
19099, Doha |
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Issued Capital |
QR 500,000 |
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Paid up Capital |
QR 500,000 |
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Total Workforce |
250 |
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Line of Business |
Manufacturers of scaffolding and other metal products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
METAL
FORMING CENTRE WLL
ADDRESS
Registered & Physical Address
Building : Shop No. 142
Area : Souq Al Harj
PO Box : 7394
Town : Doha
Country :
Qatar
Telephone : (974) 4433572
Facsimile : (974) 4355061
Email : info@mfc-qatar.com
Premises
Subject
operates from a small suite of offices that are owned and located in the
Central Business Area of Doha.
Branch Offices
Location Description
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Al
Karajat Street, No. 48 Factory
premises
Gate No. 28
Industrial
Area
Doha
Tel : (974) 4600494 / 4604170
Fax : (974) 4600395
KEY PRINCIPALS
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Ismail
Nemat Abbas Al Farsi Managing
Director
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Mohamed
Ismail Nemat Abbas Al Farsi Director
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Adel
Hemza Hashmi General
Manager
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Mohamed
Munir Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 11th May 1979
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 19099, Doha
Issued
Capital : QR 500,000
Paid
up Capital : QR 500,000
Name of Shareholder (s)
·
Ismail
Nemat Abbas Al Farsi
·
Mohamed
Ismail Nemat Abbas Al Farsi
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
manufacture of scaffolding and other metal products, foundry operators, wrought
iron and steel fabrication works, electro-plating and electro-galvanizing.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of approximately 250 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
45,000,000 QR
48,900,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Doha
Bank Ltd
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1979, subject is owned and managed by Mr Ismail Nemat Abbas Al Farsi and Mr
Mohamed Ismail Nemat Abbas Al Farsi who are both well respected in the local
business community.
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 business is considered to be a fair trade risk and the above credit
figure is deemed to be within subject’s financial means.
Maximum
suggested credit figure: US$ 300,000
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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