MIRA
INFORM REPORT
|
Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
GULF INTERNATIONAL AUTO SERVICES WLL |
|
|
|
|
Registered Office : |
Salwa
Road, PO Box: 8339, Doha, Qatar |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
29648, Doha |
|
|
|
|
Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
|
|
|
|
Line of Business : |
Importer
and Distributor of automotive spare parts and
related accessories. |
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$
50,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
GULF INTERNATIONAL AUTO SERVICES WLL |
|
Also
Known As |
GULF INTERNATIONAL ENTERPRISES |
|
Country
of Origin |
Qatar |
|
Legal
Form |
With Limited Liability - WLL |
|
Registration
Date |
2005 |
|
Commercial
Registration Number |
29648, Doha |
|
Membership
Number |
69368 |
|
Issued
Capital |
QR 200,000 |
|
Paid
up Capital |
QR 200,000 |
|
Total
Workforce |
5 |
|
Line
of Business |
Distributors of automotive spare parts and related accessories. |
|
Financial
Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
GULF
INTERNATIONAL AUTO SERVICES WLL
ALSO KNOWN AS
GULF
INTERNATIONAL ENTERPRISES
ADDRESS
Registered & Physical Address
Location : Salwa Road
PO Box : 8339
Town : Doha
Country : Qatar
Telephone : (974) 4417672
Facsimile : (974) 4435041
Email :
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
· Sheikh Mohamed Jassim Khalid Al
Thani Qatari Managing Director
· Al Fareed Sokabar Indian Director
· Flomina Rita Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 29648, Doha
Membership No. : 69368
Issued
Capital : QR 200,000
Paid
up Capital : QR 200,000
Name of Shareholder (s)
· Sheikh Mohamed Jassim Khalid Al
Thani
· Al Fareed Sokabar
· Flomina Rita
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 spare parts and related
accessories.
Import
Countries :
Europe and Japan.
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
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:
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$ 50,000
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 |
|