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MIRA
INFORM REPORT
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Report Date : |
24.01.2007 |
IDENTIFICATION DETAILS
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Name : |
NEHMEH AUTOMOTIVE TRADING CO WLL (NATCO) |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1953 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged
in the import, wholesale and retail of automotive paints for cars and related
products. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
300,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : NEHMEH AUTOMOTIVE TRADING CO WLL (NATCO)
Also Known As : NATCO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 1953
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 22
Line of Business : Import, wholesale and retail of automotive paints and
accessories, as well as the import and distribution of
generators, water pumps and plant compactors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NEHMEH AUTOMOTIVE TRADING CO WLL (NATCO)
ALSO KNOWN AS
NATCO WLL
ADDRESS
Registered & Physical Address
Location :
PO Box : 99
Town :
Country :
Telephone : (974) 4312605 / 4601411
Facsimile : (974) 4423378
Premises
Subject
operates from a medium sized suite of offices, a warehouse and a showroom that
are rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
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Simon Nehmeh Lebanese Managing
Director
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Emile Nehmeh Lebanese Director
LEGAL FORM &
OWNERS
Date of Establishment : 1953
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Issued
Capital : QR 1,000,000
Paid
up Capital : QR 1,000,000
Name of Shareholder
(s)
·
Simon Nehmeh
·
Emile Nehmeh
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.
AFFILIATED COMPANIES
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National Radiators Factory
PO Box : 99
Tel : (974) 4601085
Fax : (974) 4423378
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Antoun Nehmeh Est
PO Box : 99
LINE OF BUSINESS
Operations
: Engaged in the
import, wholesale and retail of automotive paints for cars and related products. Subject also specialises in the import and distribution of
generators, water pumps and plant compactors.
Import
Countries :
Operating
Trend : Steady
Subject
has a workforce of 22 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
9,500,000 QR
9,930,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Al Ahli Bank of
PO Box : 2309
Tel : (974) 4326611
Fax : (974) 4444652
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Qatar National Bank
PO Box : 1818
Tel : (974) 4423643
Fax : (974) 4415021
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Nehmeh
Automotive Trading Co WLL (Natco) has a long operating history with activities
dating back to 1953. It is engaged in the import, wholesale and retail of
automotive paints and accessories, as well as the import and distribution of
generators, water pumps and plant compactors.
It is
owned by Simon Nehmeh and his brother Emile Nehmeh who are Lebanese businessmen
with significant experience in the market.
Local
sources report payments are met in a timely manner and the financial situation
is satisfactory. As such the business is deemed a fair trade risk and the above
credit figure is considered to be admissible.
Maximum
suggested credit figure: US$ 300,000
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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