MIRA
INFORM REPORT
|
Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
INTERNATIONAL
TYRE CENTRE WLL |
|
|
|
|
Registered Office : |
Salwa Road, P O
Box 51, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
1956 |
|
|
|
|
Com. Reg. No.: |
127, Doha |
|
|
|
|
Legal Form : |
With Limited Liability – WLL |
|
|
|
|
Line of Business : |
Import and
distribution of automotive tyres, batteries and spare parts. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
|
Maximum Credit Limit : |
US$ 500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : INTERNATIONAL TYRE CENTRE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1956
Commercial Registration Number : 127, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 50
Line of Business : Distributors of automotive tyres, batteries and spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
INTERNATIONAL TYRE
CENTRE WLL
ADDRESS
Registered & Physical Address
Location : Salwa Road
PO Box : 51
Town : Doha
Country : Qatar
Telephone : (974) 4689103 / 4601750 / 4431166 /
4134309
Facsimile : (974) 4689244 / 4134909
Email : itcqatar@qatar.net.qa
Premises
Subject operates
from a small suite of offices and a warehouse that are owned and located in the
Central Business Area of Doha.
Branch Office (s)
Location Description
·
Airport Road Workshop
& car wash
Doha
Tel : (974) 4653041
·
Doha
Industrial Area Workshop
& car wash
Doha
Tel : (974) 4504972
·
Farj Bin
Mahmoud Street Workshop
& car wash
Doha
Tel : (974) 4316378
KEY PRINCIPALS
·
Marzouk
Mohamed Al Shamlan Managing
Director
·
Tariq Mohamed
Al Shamlan Director
·
Mohamed
Mohamed Al Shamlan Director
·
M V Vishwas Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1956
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 127, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Marzouk
Mohamed Al Shamlan
·
Tariq Mohamed
Al Shamlan
·
Mohamed
Mohamed Al Shamlan
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 import and distribution of automotive
tyres, batteries and spare parts. Subject also operates a carwash.
Import Countries
: Europe, the Far East and
the United States of America.
International
Suppliers :
·
Goodyear United States of America
·
Falcon Japan
·
MRF India
·
Runway China
·
Varta Germany
Operating Trend
: Steady
Subject has a
workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue QR 14,270,000 QR 14,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Qatar National
Bank SAQ
PO Box : 1002
Doha
Tel : (974) 4413511 / 4407407
Fax
: (974) 4415020
·
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.
Date of transaction January 2005
Credit amount 211,000
Amount overdue 0
Payment terms 120
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Established in
1956, subject is involved in the import and distribution of automotive tyres,
batteries and spare parts.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear and the
above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 500,000
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)