MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
QUALITY
ENGINEERING & SERVICES WLL |
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Registered Office : |
Street No. 25,
Gate No. 91, Industrial Area, |
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Country : |
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Date of Incorporation : |
March 2006 |
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Com. Reg. No.: |
25999/1, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged as
engineering contractors and providers of services for steel fabrication. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : QUALITY ENGINEERING & SERVICES WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : March 2006
Commercial Registration Number :
25999/1,
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 80
Line of Business : Engineering contractors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
QUALITY ENGINEERING
& SERVICES WLL
ADDRESS
Registered & Physical Address
Location : Street No. 25, Gate No. 91
Area : Industrial Area
PO Box : 9130
Town :
Country :
Telephone : (974) 4500701
/ 4500901
Facsimile : (974) 4506195
Email : qesqatar@gmail.com
Premises
Subject operates
from a medium sized suite of offices and a workshop that are rented and located
in the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
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Shams Uddine Olagara Indian Managing Director
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Ibrahim Al Maliki Qatari Director
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Thomas George - General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : March 2006
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 25999/1,
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
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Ibrahim Al Maliki 51%
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Shams Uddine Olagara 49%
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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Quality Food & Services
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LINE OF BUSINESS
Operations : Engaged as engineering contractors and
providers of services for steel fabrication.
Subject has a
workforce of 80 employees.
FINANCIAL
HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Doha
Bank Ltd
PO Box : 3818
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:
Investigations
undertaken in Doha did not reveal any sign of payment defaults or delays during
initial trading stages, and subject is believed to meet its payment obligations
in a timely manner, nevertheless, and in view of the company’s infancy and the
lack of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 75,000
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%)