MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL
ANDALUS TECHNICAL PROJECT |
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Registered Office : |
Sofitel
Complex, 5th Floor, Office No. 28, National Street, P O Box 14018,
Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
22nd December 1998 |
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Com. Reg. No.: |
13960, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
as general technical consultants for projects and tenders. |
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$
150,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL ANDALUS TECHNICAL PROJECT
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 22nd December 1998
Commercial Registration Number : 13960, Doha
Invested Capital : QR 100,000
Total Workforce : 10
Line of Business : General technical consultants.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL
ANDALUS TECHNICAL PROJECT
ADDRESS
Registered & Physical Address
Building : Sofitel Complex, 5th
Floor, Office No. 28
Street : National Street
PO Box : 14018
Town : Doha
Country : Qatar
Telephone : (974) 4321114 / 4681045
Facsimile : (974) 4370051
Email : alandalus@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
· Gamal Abdullah Al Suwaidi Proprietor
& General Manager
· Mohamed Sulaiman Hussain Assistant
General Manager
· Jawad Goas Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 22nd December 1998
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 13960, Doha
Invested
Capital : QR 100,000
Mr Gamal
Abdullah Al Suwaidi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations
: Engaged as
general technical consultants for projects and tenders.
Operating
Trend : Steady
Subject
has a workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Qatari Riyals (QR)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue QR
4,600,000 QR
4,850,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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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 1998, subject is owned and managed by Mr Gamal Abdullah Al Suwaidi who is
well respected in the local business community.
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
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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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