MIRA
INFORM REPORT
|
Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
TECHNOLOGY VENTURES QATAR WLL |
|
|
|
|
Registered Office : |
Al
Murgab Street, Al Saad Area, PO Box: 24156, Doha, Qatar. |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
30998, Doha |
|
|
|
|
Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
|
|
|
|
Line of Business : |
Engaged
as general electrical contractors as well as suppliers of electrical
equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$
150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
TECHNOLOGY VENTURES QATAR WLL |
|
Country
of Origin |
Qatar |
|
Legal
Form |
With Limited Liability - WLL |
|
Registration
Date |
2005 |
|
Commercial
Registration Number |
30998, Doha |
|
Membership
Number |
10273 |
|
Issued
Capital |
QR 200,000 |
|
Paid
up Capital |
QR 200,000 |
|
Total
Workforce |
50 |
|
Line
of Business |
General electrical contractors as well as suppliers of electrical equipment. |
|
Financial
Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating
Trend |
Steady |
COMPANY NAME
TECHNOLOGY
VENTURES QATAR WLL
ADDRESS
Registered & Physical Address
Street : Al Murgab Street
Area : Al Saad Area
PO Box : 24156
Town : Doha
Country : Qatar
Telephone : (974) 4315495
Facsimile : (974) 4315502
Email : siva@tv-mp.com
Premises
Subject
operates from a medium sized suite of offices and a warehouse that are rented
and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
· Rashid Awaida Al Thani Qatari Managing Director
· Qassim Awaida Al Thani Qatari Director
· Siva Shanker Indian Director
· Bajan Matolla Indian Director
· Arwin Kumar - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 30998, Doha
Membership No. : 10273
Issued
Capital : QR 200,000
Paid
up Capital : QR 200,000
Name of Shareholder (s)
· Rashid Awaida Al Thani
· Qassim Awaida Al Thani
· Siva Shanker
· Bajan Matolla
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 as
general electrical contractors as well as suppliers of electrical equipment.
Import
Countries :
Europe and GCC countries.
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 31/12/06 :
Total
Revenue QR
9,100,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
HSBC
Bank Middle East
Abdulla Bin Jassim Street
PO Box : 57
Doha
Tel :
(974) 4423124
Fax :
(974) 4416353
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2005, subject is involved as general electrical contractors as well as
suppliers of electrical equipment.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 150,000
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 |
|