MIRA
INFORM REPORT
|
Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
METAL FORMING
CENTRE WLL |
|
|
|
|
Registered Office : |
Shop No. 142,
Souq Al Harj, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
11th May 1979 |
|
|
|
|
Com. Reg. No.: |
19099, |
|
|
|
|
Legal Form : |
With Limited Liability – WLL |
|
|
|
|
Line of Business : |
Engaged in the manufacture
of scaffolding and other metal products, foundry operators, wrought iron and
steel fabrication works, electro-plating and electro-galvanizing. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 300,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : METAL FORMING CENTRE WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 11th May 1979
Commercial Registration Number :
19099,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 250
Line of Business : Manufacturers of scaffolding and other metal products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
METAL FORMING
CENTRE WLL
ADDRESS
Registered & Physical Address
Building : Shop No. 142
Area : Souq Al Harj
PO Box : 7394
Town :
Country :
Telephone : (974) 4433572
Facsimile : (974) 4355061
Email : info@mfc-qatar.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Branch Offices
Location Description
·
Gate No. 28
Industrial
Area
Tel : (974) 4600494 / 4604170
Fax : (974) 4600395
KEY PRINCIPALS
·
Ismail
Nemat Abbas Al Farsi Managing
Director
·
Mohamed
Ismail Nemat Abbas Al Farsi Director
·
Adel
Hemza Hashmi General
Manager
·
Mohamed
Munir Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 11th
May 1979
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 19099,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder
(s)
·
Ismail
Nemat Abbas Al Farsi
·
Mohamed
Ismail Nemat Abbas Al Farsi
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 manufacture of scaffolding
and other metal products, foundry operators, wrought iron and steel fabrication
works, electro-plating and electro-galvanizing.
Import Countries
:
Operating Trend
: Steady
Subject has a
workforce of approximately 250 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 48,900,000 QR 52,185,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Doha
Bank Ltd
PO Box : 3818
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of transaction November 2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1979, subject is owned and managed by Mr Ismail Nemat Abbas Al Farsi and Mr
Mohamed Ismail Nemat Abbas Al Farsi who are both well respected in the local
business community.
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
company 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$ 300,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)