MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
GALFAR AL MISNAD
ENGINEERING & CONTRACTING WLL |
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Registered Office : |
C Ring Road, Al
Hilal Area, P O Box 22170, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
17875, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged as
general engineering contractors, specialising in oil and gas, roads and bridges,
electrical and instrumentation and other civil structures. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : GALFAR AL MISNAD ENGINEERING & CONTRACTING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1995
Commercial Registration Number : 17875, Doha
Issued Capital : QR 10,000,000
Paid up Capital : QR 10,000,000
Total Workforce : 2,500
Line of Business : General engineering contractors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
GALFAR AL MISNAD
ENGINEERING & CONTRACTING WLL
ADDRESS
Registered & Physical Address
Street : C Ring Road
Area : Al Hilal Area
PO Box : 22170
Town : Doha
Country : Qatar
Telephone : (974) 4677518 / 4677238
Facsimile : (974) 4677519
Email : galfar@qatar.net.qa
Premises
Subject operates
from a large suite of offices that are rented and located in the Industrial
Area of Doha.
KEY PRINCIPALS
·
Dr P Mohamed
Ali Managing
Director
·
Satish G
Pillai Chief
Executive Officer
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Mohan Menon Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 17875, Doha
Issued Capital : QR 10,000,000
Paid up Capital : QR 10,000,000
Name of Shareholder (s)
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Al Misnad
Group
Doha
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Galfar
Engineering
Muscat
Oman
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 as general engineering contractors,
specialising in oil and gas, roads and bridges, electrical and instrumentation
and other civil structures.
Subject has a
workforce of 2,500 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
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Qatar
International Islamic Bank
PO Box : 664
Doha
Tel : (974) 4435535 / 4435548
Fax : (974) 4444101
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1995, subject operates as general engineering contractors, specialising in oil
and gas, roads and bridges, electrical and instrumentation and other civil
structures.
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
business 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$ 250,000
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. |
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%)