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MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
QATARI COMPUTER
SYSTEMS CO WLL (Q-SOFT) |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
25996, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the wholesale
and retail of personal computers, data optics and fibre optic cables,
hardware suppliers and software packages. |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : QATARI COMPUTER SYSTEMS CO WLL (Q-SOFT)
Country of Origin :
Legal Form : With Limited Liability – WLL
Registration Date : 1985
Commercial Registration Number :
25996,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 75
Line of Business : Wholesale and retail of personal computers and related accessories, as
well as providing IT solutions and services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
QATARI COMPUTER
SYSTEMS CO WLL (Q-SOFT)
ADDRESS
Registered & Physical Address
Building :
Location :
PO Box : 9931
Town :
Country :
Telephone : (974) 4443385 / 4427210
Facsimile : (974) 4443386
Email : info@qsoft-corp.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Doha.
KEY PRINCIPALS
·
Abdullah
Al Hamadi Managing
Director
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Hisham
Abdullah Al Hamadi Director
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Prakash
D’ Souza Commercial
Manager
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Ahmed
Habib Administration
& Finance Manager
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Paul
Fernandez IT
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1985
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 25996, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder
(s)
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Abdullah
Al Hamadi
·
Hisham
Abdullah Al Hamadi
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 wholesale and retail of
personal computers, data optics and fibre optic cables, hardware suppliers and
software packages.
Subject also provides computer networking in LAN, WAN and intranet solutions, information system consultancy, system study and feasibility reports, system design and documentation, software development and user training
Import Countries
: The United Kingdom and
the United States of America.
International
Suppliers :
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Data
Optics United Kingdom
Operating Trend
: Steady
Subject has a
workforce of 75 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue QR 15,647,000 QR
17,228,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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Qatar
National Bank
Government House Road
PO Box : 1002
Doha
Tel : (974) 4413511 / 4407407
Fax : (974) 4415020
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction July 1997
Credit amount 20,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Qatari Computer
Systems Co WLL (Q-SOFT) was established in 1985 and is engaged in the wholesale
and retail of personal computers and related accessories, as well as providing
IT solutions and services.
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
company 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$ 350,000
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)