MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL TAWFEEQ TECHNICAL TRADING CENTRE |
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Registered Office : |
Industrial Area
No. 2, PO Box 40171, Doha, Qatar |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
35004, Doha |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution of Heavy
Equipment and Machinery |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL TAWFEEQ TECHNICAL TRADING CENTRE
Country of Origin : Qatar
Legal Form : General Partnership
Registration Date : 1988
Commercial Registration Number : 35004, Doha
Partners Capital : QR 100,000
Total Workforce : 12
Activities : Import and distribution of heavy equipment and machinery
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
AL TAWFEEQ
TECHNICAL TRADING CENTRE
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 2
PO Box : 40171
Town : Doha
Country : Qatar
Telephone : (974) 4602810 / 5515438
Facsimile : (974) 4602813
Email : tawtech@qatar.net.qa
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed Tayeb
Khalil Iranian Managing
Partner
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Abdullah
Mostafa
Qatari Partner
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form :
General Partnership
Commercial Reg. No. : 35004, Doha
Partners Capital : QR 100,000
Name of Partner (s)
·
Mohamed Tayeb
Khalil
·
Abdullah
Mostafa
OPERATIONS
Activities: Engaged in the import and distribution of heavy equipment and machinery.
Import
Countries: China, Japan,
United States of America and Europe.
Operating Trend: Steady
Subject has a
workforce of 12 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 10,480,000 QR 11,900,000
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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Qatar Islamic
Bank
Al Khleej Insurance Building
Grand Hamad Avenue
PO Box : 559
Doha
Tel : (974) 4409409
Fax : (974) 4412700
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.
The information in
this report was confirmed by Mr Mohamed Tayeb Khalil. However he refused to
give any further details as he is currently travelling on business and is not in
the office. No one else at the subject is allowed to divulge information to us.
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%)