MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
DOMOPAN QATAR WLL |
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Registered Office : |
C Ring Road, P O
Box 24023, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
2006 |
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Com. Reg. No.: |
32130, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the
manufacture of pre-fabricated and portable houses. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DOMOPAN QATAR WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2006
Commercial Registration Number : 32130, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 30
Line of Business : Manufacturers of pre-fabricated and portable houses.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
DOMOPAN QATAR WLL
ADDRESS
Registered & Physical Address
Location : C Ring Road
PO Box : 24023
Town : Doha
Country : Qatar
Telephone : (974) 4430646
Facsimile : (974) 4317457
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
·
Fouad
Hamdan General
Manager
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Haytham
Hamdan Human
Resources Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2006
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 32130, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
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Domopan SpA
Via Salmeggia 2
20132 Milan
Italy
Tel : (39-2) 45471081
Fax : (39-2) 45471082
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Dar Al Manarat
Trading & Contracting
Doha
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
pre-fabricated and portable houses.
Subject is still in
the process of setting up its factory.
Subject has a workforce
of 30 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Standard
Chartered Bank
PO Box : 29
Doha
Tel : (974) 4414252
Fax : (974) 4413739
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Investigations
undertaken in Doha did not reveal any sign of payment defaults or delays during
initial trading stages, and subject is believed to meet its payment obligations
in a timely manner, nevertheless, and in view of the company’s infancy and the
lack of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 30,000
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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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%)