MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
PIPELINE SUPPLIES
& SERVICE CO WLL |
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Registered Office : |
Souq Saud
Building, 1st Floor, Room No. 81, Al Fardan Street, P O Box 32347,
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
5th November 2006 |
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Com. Reg. No.: |
34101, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the import
and distribution of pipelines, valves and related spare parts. |
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$ 25,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : PIPELINE SUPPLIES & SERVICE CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 5th November 2006
Commercial Registration Number : 34101, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 15
Line of Business : Distributors of pipelines, valves and related spare parts.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
PIPELINE SUPPLIES
& SERVICE CO WLL
ADDRESS
Registered & Physical Address
Building : Souq Saud Building, 1st
Floor, Room No. 81
Street : Al Fardan Street
PO Box : 32347
Town : Doha
Country : Qatar
Telephone : (974) 4444438
Facsimile : (974) 4444483
Email : pissco@qatar.net.qa
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Simon
Thomas Indian Managing Director
·
Jameel
Akbar Indian Director
·
Sheikh Jassim
Bin Saud Al Thani Qatari Director
LEGAL FORM &
OWNERS
Date of Establishment : 5th
November 2006
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 34101, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Simon
Thomas
·
Jameel
Akbar
·
Sheikh
Jassim Bin Saud Al Thani
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
pipelines, valves and related spare parts.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 15 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
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:
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$ 25,000
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%)