MIRA
INFORM REPORT
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Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SIMPLEX INFRASTRUCTURES LTD |
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Registered Office : |
Doha Home Centre, 1st Floor, Office No. 1, P O Box
– 22472, |
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Country : |
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Date of Incorporation : |
March 2004 |
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Com. Reg. No.: |
27751, |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged as construction contractors, specialising in
concrete and pilling work |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SIMPLEX INFRASTRUCTURES LTD
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : March 2004
Commercial Registration Number :
27751,
Total Workforce : 450
Line of Business : Construction contractors.
Financial Condition : Undetermined
Payments : No Complaints
COMPANY NAME
SIMPLEX INFRASTRUCTURES LTD
ADDRESS
Registered & Physical Address
Location : Doha Home Centre, 1st Floor, Office No. 1
PO Box : 22472
Town :
Country :
Telephone : (974) 4328843 / 4583051
Facsimile : (974) 4435407
Email : simplexqatar@simplexindia.com
Premises
Subject operates from a large suite of offices that are rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
B D Mundhra Chairman
Amitab Gosh General Manager
R
Chakra Borty Procurement Manager
LEGAL FORM &
OWNERS
Date of Establishment : March 2004
Legal Form :
Subject is the
incorporated in
Simplex Infrastructures Ltd in
Simplex Infrastructures Ltd
Tel : (91-33) 23011600
A Branch of a Foreign Registered Corporation is not a legal entity in its own right. Responsibility for payments lays in the hands of the company where it is originally registered.
Under these circumstances, we strongly advise that any
international trade credit should only be written under the name of the main
company where the subject holds its registered office, in this case
Commercial Reg. No. :
27751,
LINE OF BUSINESS
Operations :
Engaged as construction contractors, specialising in concrete and pilling work.
Current Contracts :
Subject has recently completed work at the Doha Hilton hotel, in
currently working on a project for Qatar Petroleum.
Subject has a workforce of 450 employees
FINANCIAL HIGHLIGHTS
No financial information was released by the company or submitted by outside sources.
BANKERS
Commercial Bank of Qatar Ltd (QSC)
PO Box : 3232
Tel : (974) 4490222
Fax : (974) 4438182
Doha Bank Ltd
PO Box : 3818
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
Standard Chartered Bank
PO Box : 29
Tel : (974) 4414252
Fax : (974) 4413739
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 within subject’s financial means.
Maximum suggested credit figure: US$ 200,000
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%)