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MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
KHALID ELECTRICAL
& MECHANICAL EST (KEMCO) |
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Registered Office : |
Al Mansoura Area,
P O Box 2642, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
6122, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged as
contractors and sub-contractors for electrical and mechanical work. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : KHALID ELECTRICAL & MECHANICAL EST (KEMCO)
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1991
Commercial Registration Number : 6122, Doha
Membership Number : 2798
Invested Capital : QR 16,200,000
Total Workforce : 2,000
Line of Business : Contractors and sub-contractors for electrical and mechanical work.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
KHALID ELECTRICAL
& MECHANICAL EST (KEMCO)
ADDRESS
Registered & Physical Address
Location : Al Mansoura Area
PO Box : 2642
Town : Doha
Country : Qatar
Telephone : (974) 4321910
Facsimile : (974) 4432606
Email : info@kemco-qatar.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
·
Mohamed Bin
Hammam Al Abdullah Proprietor
·
Jassim Mohamed
Bin Hammam Al Abdullah General
Manager
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Aysha Hammam
Al Abdullah Contracting
Manager
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P S Pai Operations
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 6122, Doha
Membership No. : 2798
Invested Capital
: QR 16,200,000
Mr Mohamed Bin
Hammam Al Abdullah is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged as contractors and sub-contractors
for electrical and mechanical work.
Subject undertakes contracts and sub-contracts in the field of
electrical power transmission and distribution up to 220KV, specialized
activities like testing and commissioning,
drilling services for base holes and trench-less road-crossing (HDD), operation
and maintenance of sub-stations.
Subject has a
workforce of approximately 2,000 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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Doha Bank Ltd
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1991, subject is owned and managed by Mr Mohamed Bin Hammam Al Abdullah who is
well respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 500,000
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%)