MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
FUTURE PIPE INDUSTRY QATAR QCJSC |
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Registered Office : |
New Salwa Industrial Area, PO Box
24678, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
27488, Doha |
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Legal Form : |
Qatari Closed Joint Stock Company |
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Line of Business : |
Manufacture of Fibreglass Pipes |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : FUTURE PIPE INDUSTRY QATAR QCJSC
Country of Origin : Qatar
Legal Form : Qatari Closed Joint Stock Co
Registration Date : 2003
Commercial Registration Number : 27488, Doha
Chamber Membership Number : 8007
Issued Capital : QR 48,000,000
Paid up Capital : QR 48,000,000
Total Workforce : 600
Activities : Manufacture of fibreglass pipes.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,000,000
COMPANY NAME
FUTURE PIPE INDUSTRY QATAR QCJSC
ADDRESS
Registered & Physical Address
Location : New Salwa Industrial Area
PO Box : 24678
Town : Doha
Country : Qatar
Telephone : (974) 4315290 /
5818628 / 4906203
Facsimile : (974) 4906209
Email : qatar@futurepipe.com
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Doha.
KEY PRINCIPALS
Name Position
· Hamad
Bin Nasser Al Thani Chairman
· Samir
Abu Harmoun General
Manager
· Mohamed
Jaroudi Marketing
Manager
· Iskander
Gazzal Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2003
Legal Form : Qatari
Closed Joint Stock Co
Commercial Reg.
No. : 27488, Doha
Chamber Member No. : 8007
Issued Capital : QR 48,000,000
Paid up Capital : QR 48,000,000
Name of Shareholder (s)
· Qatar
Industrial Development Bank
· Qatar
Foundation
· Qatari businessmen
& private investors
OPERATIONS
Activities: Engaged in the manufacture of fibreglass pipes.
Production Capacity: 100,000 tonnes per annum
Import Countries: China and the United States of America.
Subject has a workforce of approximately 600 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
·
Qatar National Bank
Government House Road
PO Box : 1002
Doha
Tel : (974) 4413511 / 4407407
Fax : (974) 415020
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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.
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%)