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MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
QATAR AIR DISTRIBUTION NETWORK MANUFACTURING FACTORY WLL (QADNET) |
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Registered Office : |
Industrial
Area, Street No. 30, Gate No 5,
P O Box 558 & 40852, Doha |
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Country : |
United Arab Emirates |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
30335, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacture of Air Conditioning
Ducts, Galvanised Sheets and other Accessories |
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 : QATAR AIR DISTRIBUTION NETWORK MANUFACTURING FACTORY WLL (QADNET)
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2005
Commercial Registration Number : 30335, Doha
Issued Capital : QR 550,000
Paid up Capital : QR 550,000
Total Workforce : 70
Activities :
Manufacture of air conditioning ducts, galvanised
sheets and other
accessories
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
QATAR AIR
DISTRIBUTION NETWORK MANUFACTURING FACTORY WLL (QADNET)
ADDRESS
Registered &
Physical Address
Location : Industrial
Area, Street No. 30, Gate No 5
PO Box : 558 & 40852
Town : Doha
Country : Qatar
Telephone : (974) 4503602 / 4600316
Facsimile : (974) 4503747
Email : qad_net@redifmail.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
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Khalid
Abdul Hamid Al Emadi Qatari Managing Director
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Abdul
Hamiud Abdulrahim Al Emadi Qatari Director
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Barakat
Ali Baderuddine Qatari Director
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Sultan
Ali Abdulaziz Pakistani Director
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Siraj
Sulaiman Viranio Indian Director
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Abdul
Karim Nour Pakistani Director
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Omar
Bahr - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 30335, Doha
Issued Capital : QR 550,000
Paid up Capital : QR 550,000
Name of Shareholder (s)
·
Khalid
Abdul Hamid Al Emadi
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Abdul
Hamiud Abdulrahim Al Emadi
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Barakat
Ali Baderuddine
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Sultan
Ali Abdulaziz
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Siraj
Sulaiman Viranio
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Abdul
Karim Nour
OPERATIONS
Activities: Engaged in the manufacture of air conditioning ducts, galvanised sheets and other
accessories.
Import
Countries: China, Australia
and Europe
Subject has a
workforce of 70 employees.
FINANCIAL DATA
Companies registered
in Qatar are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
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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
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)