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MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAHIL ENGINEERING & CONTRACTING WLL (SECON) |
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Registered Office : |
Salwa, PO Box
3139 & 331139, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
October 2008 |
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Com. Reg. No.: |
40529, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Provision of Engineering Contracting Services |
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$ 15,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAHIL ENGINEERING & CONTRACTING WLL (SECON)
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : October 2008
Commercial Registration Number : 40529, Doha
Chamber Membership Number : 17376
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : Provision of engineering contracting services
Activities : 3
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 15,000
COMPANY NAME
SAHIL ENGINEERING
& CONTRACTING WLL (SECON)
ADDRESS
Registered & Physical Address
Location : Salwa
PO Box : 3139 & 331139
Town : Doha
Country : Qatar
Telephone : (974) 5671969
Facsimile : (974) 5671969
Premises
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Doha.
KEY PRINCIPALS
Name Position
·
Mohamed
Bin Khalifa Al Attiya Managing
Director
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Ms
Fatima Al Kasiri Director
LEGAL FORM & OWNERS
Date of Establishment : October 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 40529, Doha
Chamber Member No. : 17376
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
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Mohamed
Bin Khalifa Al Attiya
·
Ms
Fatima Al Kasiri
OPERATIONS
Activities: Engaged in the provision of engineering
contracting services.
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
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
In view of subject’s
infancy, extensive payment and financial are not available, therefore dealings
are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
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%)