MIRA
INFORM REPORT
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Report Date : |
29th
December, 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL
WAHA CONTRACTING CO & TRADING CO WLL |
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Registered Office : |
Mansoura
Area, PO Box: 1486 & 13997, Doha, Qatar. |
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Country : |
Qatar |
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Date of Incorporation : |
1967 |
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Com. Reg. No.: |
27339,
Doha |
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Legal Form : |
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Engaged
as civil construction contractors. |
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$
250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
AL WAHA CONTRACTING CO & TRADING CO 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 |
1967 |
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Commercial
Registration Number |
27339, Doha |
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Membership
Number |
7910 |
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Issued
Capital |
QR 3,000,000 |
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Paid
up Capital |
QR 3,000,000 |
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Total
Workforce |
1,000 |
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Line
of Business |
Civil construction contractors. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
AL WAHA
CONTRACTING CO & TRADING CO WLL
ADDRESS
Registered & Physical Address
Location : Mansoura Area
PO Box : 1486 & 13997
Town : Doha
Country : Qatar
Telephone : (974) 4416306 / 4428167 / 4375223
Facsimile : (974) 4411075
Email : alwaha@qatar.net.qa
Premises
Subject
operates from a large suite of offices that are owned and located in the
Central Business Area of Doha.
KEY PRINCIPALS
· Ahmed Abdulrahman Yousef Fakhroo
Obaidan Managing
Director
· Omar Reda Abbass Director
· Marwan Abbass General
Manager
· Ghassan Abbass Project
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1967
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 27339, Doha
Membership No. : 7910
Issued
Capital : QR 3,000,000
Paid
up Capital : QR 3,000,000
Name of Shareholder
(s)
· Ahmed Abdulrahman Yousef Fakhroo
Obaidan
· Omar Reda Abbass
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
civil construction contractors.
Subject
has a workforce of approximately 1,000 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
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 1967, subject operates as civil construction contractors and employs
approximately 1,000 members of staff.
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$ 250,000
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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