MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NASCO CENTRE WLL |
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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 : |
1997 |
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Com. Reg. No.: |
19388, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the
import and distribution of building materials and sanitary ware products. |
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 : NASCO CENTRE WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 1997
Commercial Registration Number :
19388,
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 10
Line of Business : Distributors of building materials and sanitary ware
products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NASCO CENTRE WLL
ADDRESS
Registered & Physical Address
Location :
PO Box : 14231
Town :
Country :
Telephone : (974) 4423060
Facsimile : (974) 4419342
Email : nascocentre@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Doha.
KEY PRINCIPALS
·
Ahmed
Al Rais Managing
Director
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Hassan
Ahmed Rahmani Director
LEGAL FORM &
OWNERS
Date of Establishment : 1997
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 19388,
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
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Ahmed
Al Rais
·
Hassan
Ahmed Rahmani
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
building materials and sanitary ware products.
Import Countries
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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 31/12/05 : Year
Ending 31/12/06 :
Total Revenue QR 5,860,000 QR 6,200,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Bank
Saderat
Al Maktoum
PO Box : 4182
Tel : (971-4) 2221161
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Established in
1997, subject is involved in the import and distribution of building materials
and sanitary ware products.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear 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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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%)