MIRA
INFORM REPORT
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Report Date : |
08.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ACROW QATAR
METALLIC SCAFFOLDING, FRAMEWORK, SLIP FORM, LIFTING & TUNNELLING WLL |
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Registered Office : |
Salwa Road, Ain
Khalid, P O Box 15104, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
2030979, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the in
the import and distribution of metallic scaffolding, framework, slip form,
lifting and tunnelling equipment. |
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 : ACROW QATAR METALLIC SCAFFOLDING, FRAMEWORK, SLIP
FORM, LIFTING & TUNNELLING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2005
Commercial Registration Number : 2030979, Doha
Membership Number : 10278
Issued Capital : QR 750,000
Paid up Capital : QR 750,000
Total Workforce : 20
Line of Business : Distributors of metallic scaffolding, framework, slip form, lifting and
tunnelling equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
ACROW QATAR
METALLIC SCAFFOLDING, FRAMEWORK, SLIP FORM, LIFTING & TUNNELLING WLL
ADDRESS
Registered & Physical Address
Street : Salwa Road
Area : Ain Khalid
PO Box : 15104
Town :
Doha
Country : Qatar
Telephone : (974) 4506442
Facsimile : (974) 4506441
Email : acrowqatar@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Doha.
KEY PRINCIPALS
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Mohamed Faraj General
Manager
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Mostaf Nagi Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Sharikat Thet Massouliya Mahdoudeh
(With Limited Liability - WLL)
Commercial Reg. No. : 2030979, Doha
Membership
No. : 10278
Issued Capital : QR 750,000
Paid up Capital : QR 750,000
Name of Shareholder (s)
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Sheikh Khalid
Qassim Al Thani
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Acrow Misr Metallic
Scaffolding Framework
Egypt
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Egyptian Co
For Construction Development (ECCD)
Egypt
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.
AFFILIATED COMPANIES
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Acrow Gulf LLC
Dubai
United Arab Emirates
Tel : (971-4) 3439498
Fax : (971-4) 3439598
LINE OF BUSINESS
Operations : Engaged in the in the import and
distribution of metallic scaffolding, framework, slip form, lifting and
tunnelling equipment.
Subject has joint venture agreements in Kuwait with Khalid Ali Al Khorafi Co and with Ibtikar Co in Saudi Arabia.
Import Countries
: Europe and GCC 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 11,200,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
Acc No. 4580580116001
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 metallic
scaffolding, framework, slip form, lifting and tunnelling equipment.
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$ 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. |
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%)