MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BLACK CAT
CONSTRUCTION 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 : |
1981 |
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Com. Reg. No.: |
10756, |
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Legal Form : |
Sharikat Thet Massouliya Mahdoudeh (With Limited Liability -
WLL) |
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Line of Business : |
Engaged as
contractors specialising in engineering, procurement, installation & commissioning
(EPIC) of multi-discipline projects including civil & structural,
mechanical, rotating equipment, piping & pipelines, tankage, electrical
& instrumentation, DCS, SCADA, and fire and gas. |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
BLACK CAT CONSTRUCTION
WLL
Country of Origin :
Legal Form :
With Limited Liability - WLL
Registration Date :
1981
Commercial Registration Number :
10756,
Membership Number :
1/638
Issued Capital :
QR 8,100,000
Paid up Capital :
QR 8,100,000
Total Workforce :
900
Line of Business :
Contractors specialising
in engineering,
procurement, installation & commissioning
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
BLACK CAT
CONSTRUCTION WLL
ADDRESS
Registered & Physical Address
Building :
Street :
PO Box : 12714
Town :
Country :
Telephone : (974) 4280333 / 4322124 / 4411184
Facsimile : (974) 4429899
Email : blackcat@qatar.net.qa
Premises
Subject operates from a large suite of offices that are rented and
located in the Suburban Business Area of Doha.
Branch Office (s)
Location Description
Dukhan Workshop facilities
Tel: (974) 4711040 / 4711131 / 4711993
Mesaieed Workshop
facilities
KEY PRINCIPALS
Adnan Al
Mubarak Managing
Director
Hamd Abdullah
Al Thani Director
Mohamed Al
Kubaisi Director
Saeed Abu
Awadha Director
Fouad Skafi Operations
Manager
Dr Basim Salman Procurement
Manager
Rami Mohamed Human Resource Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1981
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With
Limited Liability - WLL)
Commercial Reg. No. : 10756,
Membership No. : 1/638
Issued Capital : QR 8,100,000
Paid up Capital : QR 8,100,000
Name of Shareholder
(s)
Adnan Al
Mubarak
Hamd Abdullah
Al Thani
Mohamed Al
Kubaisi
Saeed Abu
Awadha
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 as contractors specialising in
engineering, procurement, installation &
commissioning (EPIC) of multi-discipline
projects including civil & structural, mechanical,
rotating equipment, piping & pipelines,
tankage, electrical & instrumentation, DCS,
SCADA, and fire and gas.
Import Countries : The Far East and
Operating Trend : Steady
Subject has a workforce of approximately 900 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
51,000,000 QR
54,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Commercial Bank of Qatar Ltd (QSC)
PO Box : 3232
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk and the above
credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 400,000
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%)