%20-%2067577%2017-Dec-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GENERAL ENGINEERING CONSTRUCTION WLL |
|
|
|
|
Registered Office : |
Al
Rayan Road, P O Box 13652
& 31139, Doha, Qatar |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Year of Establishment : |
1996 |
|
|
|
|
Com. Reg. No.: |
20389 |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
General construction and engineering work contractors |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : GENERAL ENGINEERING CONSTRUCTION WLL (GEC)
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1996
Commercial Registration Number : 20389
Chamber Membership Number : 4134
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 50
Activities : General construction and engineering work contractors
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Imran Siddiqui, Managing Director
COMPANY NAME
GENERAL ENGINEERING
CONSTRUCTION WLL (GEC)
ADDRESS
Registered & Physical Address
Location : Al Rayan
Road
PO Box : 13652 & 31139
Town : Doha
Country : Qatar
Telephone : (974) 4328063
Facsimile : (974) 4437618
Mobile : (974) 5867800
/ 5450714
Email : imran@gecwll.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Imran Siddiqui Indian Managing
Director
·
Habib
Ismail Hamza Qatari Director
·
Ahmed
Ismail Hamza Qatari Director
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 20389
Chamber Member No. : 4134
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Imran Siddiqui
·
Habib
Ismail Hamza
·
Ahmed
Ismail Hamza
OPERATIONS
Activities: Engaged as
general construction and engineering work contractors.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of 50 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 14,300,000 QR 16,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
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
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
within subject’s financial means.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.82 |
|
UK Pound |
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.65.56 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)