MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAT ENGINEERING CO WLL |
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Registered Office : |
Addi Bin Hatem
Street, 3rd Floor, Office No. 314, PO Box 37076,
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
November 2007 |
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Com. Reg. No.: |
37511, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
General Contractors Specialising in Mechanical, Electrical,
Instrumentation and Civil Disciplines |
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$ 100,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : PAT ENGINEERING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : November 2007
Commercial Registration Number : 37511, Doha
Issued Capital : QR 250,000
Paid up Capital : QR 250,000
Total Workforce : 500
Activities : General contractors specialising in mechanical, electrical, instrumentation and civil disciplines
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
PAT
ENGINEERING CO WLL
ADDRESS
Registered & Physical Address
Location : Addi Bin Hatem Street, 3rd Floor,
Office No. 314
PO Box : 37076
Town : Doha
Country : Qatar
Telephone : (974) 4340548
Facsimile : (974) 4340891
Email : admin@pat-engineering.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Position
·
Ms
Carol Spellman Vice
President
·
Ms
Marina Harti General
Manager
·
Devmani
Pande Projects
Manager
LEGAL FORM & OWNERS
Date of Establishment : November 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 37511, Doha
Issued Capital : QR 250,000
Paid up Capital : QR 250,000
Name of Shareholder (s)
·
PAT
Engineering
United States of America
·
Unnamed Qatari
sponsor
OPERATIONS
Activities: Engaged as general contractors specialising
in mechanical, electrical, instrumentation and civil disciplines.
Subject’s range of
services covers, engineering & consultancy, procurement, construction &
commissioning services, plant study, modification & shutdown works,
equipment and services, network system integration - IT, telecom & security
areas.
Import
Countries: India, United
Kingdom, South Korea and Australia
Subject has a
workforce of approximately 500 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.09 |
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UK Pound |
1 |
Rs.76.68 |
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Euro |
1 |
Rs.63.48 |
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%)