MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NASSER BIN KHALID & SONS CO WLL |
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Registered Office : |
Al Mana Commercial Centre, 3rd Floor, Flat No. 6, Al Saad Street, PO Box 82, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1959 |
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Com. Reg. No.: |
10929, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s operations are performed through the divisions are, Tyres Division, Bosch Home Appliances, Heavy Equipment Division, Medical Division. |
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$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NASSER BIN KHALID & SONS CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1959
Commercial Registration Number : 10929, Doha
Issued Capital : QR 3,000,000
Paid up Capital : QR 3,000,000
Total Workforce : 75
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
NASSER BIN KHALID
& SONS CO WLL
ADDRESS
Registered &
Physical Address
Building : Al Mana Commercial Centre, 3rd
Floor, Flat No. 6
Street : Al Saad Street
PO Box : 82
Town : Doha
Country : Qatar
Telephone : (974) 4312635 / 4443939 / 4443839
Facsimile : (974) 4425181
Email : issam.jerdat@nbksgroup.com
Premises
Subject operates
from a medium sized suite of offices that are owned and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Nasser Bin
Khalid Al Thani Qatari Managing
Director
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Abdullah
Nasser Bin Khalid Al Thani Qatari Director
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Nawaf Bin
Nasser Bin Khalid Al Thani Qatari Director
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Issam Jerdat - General
Manager
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Sami Musalam - Administration
Manager
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Johan
Mathai - Finance
Manager
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Jacoub
Mathew - Financial
Controller
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Emad
Sifan - Manager
- Home Appliances
·
Samuel
Zidan - Manager
– Tyres
LEGAL FORM & OWNERS
Date of Establishment : 1959
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 10929, Doha
Issued Capital : QR 3,000,000
Paid up Capital : QR 3,000,000
Name of Shareholder (s)
·
Nasser Bin
Khalid Al Thani
·
Abdullah
Nasser Bin Khalid Al Thani
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Nawaf Bin
Nasser Bin Khalid Al Thani
AFFILIATED COMPANIES
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Nassir Bin
Khalid Al Thani & Sons Holding Co WLL
Nassir Bin Khalid Building
Abdullah Al Thani Road
PO Box: 6002 & 82
Doha
Tel: (974) 4443939 / 4443838
Fax: (974) 4425181 / 4433652
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Qatar
Automobiles Co WLL
PO Box: 1290
Doha
Tel: (974) 4426473 / 4424858
Fax: (974) 4425181
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Nassir Bin
Khalid & Sons Real Estate Co WLL
PO Box: 6823
Doha
Tel: (974) 4443903
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Nassir Bin
Khalid & Sons Tendering & Projects Promotion Co WLL
PO Box: 318
Doha
Tel: (974) 4324531
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National
Industrial Company WLL
PO Box: 235
Doha
Tel: (974) 4324531
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National
Industrial Contracting Company WLL
PO Box: 3713
Doha
Tel: (974) 4883985
Fax: (974) 4425181
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Qatar
Petroleum & Services Co WLL
PO Box: 1290 & 3338
Doha
Tel: (974) 4426473 / 4423914
Fax: (974) 4425181
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Arabian
Insurance Co WLL
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Tyres Division
Engaged in the import, distribution and
wholesale of automobile tyres for light and heavy duty vehicles.
· Bosch Home Appliances
Engaged in the distribution and retail of a wide
range of domestic appliances specialising in Bosch goods. The subject also
operates a workshop that handles maintenance for all
types of household appliances.
· Heavy Equipment Division
Engaged
in the import and distribution of construction and earthmoving equipment,
marine engines and generators.
· Medical Division
Engaged in the import and distribution of a wide range of medical
apparatus and equipment, including hospital furniture, clinical furniture, medical
gases & piping, physiotherapy and rehabilitation equipment, oxygen
generators and concentrators, infusion pumps, monitoring and pulse oximeters,
E.N.T units, emergency and first aid materials, cardiology and urology
materials, as well as a wide range of hospital medical consumables, sports and
gymnasium equipment.
Import
Countries: Italy, Spain,
Germany, France, Japan and the United States of America
International
Suppliers:
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Astra Italy
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Ausa Spain
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Case France
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IR Montabert France
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Bomag Germany
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MTU Germany
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Hermans Germany
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Terex PPM United
States of America
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Sweepster United States of
America
· Detroit
Diesel Corporation United States of America
Brand Names: BOSCH and MICHELIN
Operating Trend: Steady
Subject has a
workforce of 75 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales QR 58,000,000 QR 65,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC Bank
Middle East
Abdullah Bin Jassim Street
PO Box : 57
Doha
Tel : (974) 4423124
Fax : (974) 4416353
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Doha Bank Ltd
Al Jasrah Street
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1959, Nasser Bin Khalid & Sons Co WLL specialises in the import,
distribution and wholesale of automobile tyres. The company is run in a
professional manner and is owned by members of the wealthy and prominent Al
Thani family.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.37 |
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UK Pound |
1 |
Rs.84.01 |
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Euro |
1 |
Rs.65.96 |
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%)