MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
APEX FIRE ENGINEERING & TRADING EST |
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Registered Office : |
Musherib Street,
PO Box 15210, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
9218, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import, Distribution, Installation
and Maintenance of Fire and Security Products |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : APEX FIRE ENGINEERING & TRADING EST
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1994
Commercial Registration Number : 9218, Doha
Chamber Membership Number : 3678
Invested Capital : QR 50,000
Total Workforce : 50
Activities : Import, distribution, installation and maintenance of fire & security products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
APEX FIRE
ENGINEERING & TRADING EST
ADDRESS
Registered & Physical Address
Location : Musherib Street
PO Box : 15210
Town : Doha
Country : Qatar
Telephone : (974) 4328329
Facsimile : (974) 4328378
Mobile : (974) 5509963
Email : apexfire@qatar.net.qa
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 Position
·
Hassan
Abdulrahman Al Thani Proprietor
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M.K.
Thomas General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 9218, Doha
Chamber Member No. : 3678
Invested Capital
: QR 50,000
Mr Hassan Abdulrahman Al Thani is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged in the import,
distribution, installation and maintenance of fire and security products.
Import
Countries: United Kingdom
International
Suppliers:
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Apollo United Kingdom
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C-Tech United Kingdom
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 17,300,000 QR 19,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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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
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
business is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)