MIRA
INFORM REPORT
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Report Date : |
03.09.2007 |
IDENTIFICATION
DETAILS
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Name : |
QATARI SAUDI
COMPANY FOR INDUSTRIAL TRANSFORMATION WLL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
16th July 2000 |
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Com. Reg. No.: |
22923, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the
manufacture of Portland cement. |
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$ 250,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : QATARI SAUDI COMPANY FOR INDUSTRIAL
TRANSFORMATION WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 16th July 2000
Commercial Registration Number :
22923,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 71
Line of Business : Manufacturers of Portland cement.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
QATARI SAUDI
COMPANY FOR INDUSTRIAL TRANSFORMATION WLL
ADDRESS
Registered & Physical Address
Location :
PO Box : 50295
Town :
Country :
Telephone : (974) 4771300 / 4771400 / 4772941 /
4770571
Facsimile : (974) 4772692
Email : info@qscit.com
Premises
Subject operates
from a suite of offices and a factory covering and area of 40,000 sqm that are
owned and located in the Industrial Area of Doha.
KEY PRINCIPALS
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Abdullah Bin
Nasser Al Mesnad Managing
Director
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Imad Saleh
Kabbani General
Manager
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Bassim Saleh
Kabbani Operations
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 16th
July 2000 (Full production commenced on 1st March 2002).
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 22923,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder
(s)
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Abdullah Bin
Nasser Al Mesnad
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Kenco Co
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 Portland
cement.
Production Capacity : 165,000 tonnes per year.
Import Countries
:
Operating Trend
: Steady
Subject has a
workforce of 71 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 17,000,000 QR 19,150,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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Arab National
Bank (ANB)
PO Box : 56921
Tel : (966-1) 4029000
Fax : (966-1) 4027747
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Established in
2000, subject is involved in the manufacture of Portland cement with a
production capacity of 165,000 tonnes per year.
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 admissible.
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%)