MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ASIAN BUILDING
MATERIALS CO WLL |
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Registered Office : |
Street No. 2,
Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
5th May 2005 |
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Com. Reg. No.: |
30153, |
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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, electrical accessories, plumbing equipment, hardware,
tools and paint. |
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 : ASIAN BUILDING MATERIALS CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 5th May 2005
Commercial Registration Number :
30153,
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 20
Line of Business :
Distributors of building materials,
electrical accessories, plumbing
equipment, hardware, tools and paint.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
ASIAN BUILDING
MATERIALS CO WLL
ADDRESS
Registered & Physical Address
Street : Street No. 2
Area : Industrial Area
PO Box : 673602
Town :
Country :
Telephone : (974) 4501589
Facsimile : (974) 4503761
Email : murshidkt@gmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
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Murshid
Keeranthodi Indian Managing Director
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Mohamed
Al Mannai Qatari Director
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K
L Hashim Indian Director
LEGAL FORM &
OWNERS
Date of Establishment : 5th
May 2005
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 30153,
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of Shareholder
(s)
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Murshid
Keeranthodi
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Mohamed
Al Mannai
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K
L Hashim
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,
electrical accessories, plumbing equipment, hardware, tools and paint.
Import Countries
:
Subject has a
workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/06 :
Total Revenue QR 4,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
PO Box : 3232
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2005, subject is involved in the import and distribution of building materials, electrical accessories,
plumbing equipment, hardware, tools and paint.
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%)