MIRA
INFORM REPORT
|
Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VOLTAMP MANUFACTURING CO QATAR WLL |
|
|
|
|
Registered Office : |
Street No. 41,
Salwa New Industrial Area, PO Box 30987,
Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
February, 2007 |
|
|
|
|
Com. Reg. No.: |
34999, Doha |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Manufacturer of switchgears and transformers |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : VOLTAMP MANUFACTURING CO QATAR WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : February 2007
Commercial Registration Number : 34999, Doha
Issued Capital : QR 11,000,000
Paid up Capital : QR 11,000,000
Total Workforce : 15
Activities : Manufacture of switchgears and transformers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
VOLTAMP
MANUFACTURING CO QATAR WLL
ADDRESS
Registered &
Physical Address
Street : Street No. 41
Area : Salwa New Industrial Area
PO Box : 30987
Town : Doha
Country : Qatar
Telephone : (974) 4901978
/ 4901979
Facsimile : (974) 4901976
Email : contact@voltampqatar.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 Position
·
Maqbool Habib
Khalfan Chairman
·
Qais Bin
Mohamed Al Yousef Vice
Chairman
·
Abdulredha
Mustafa Sultan Director
·
Hussam Abu
Issa Director
·
Dr Adnan A
Steitieh Director
·
Saibal Sen Director
·
Mohamed Jaffar Director
·
C.
P. Sirvaz Taz General
Manager
· Davinder Singh Uppal Finance
Manager
· Ganesh Prabhakar Nadgouda Works
Manager
LEGAL FORM & OWNERS
Date of Establishment : February 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 34999, Doha
Issued Capital : QR 11,000,000
Paid up Capital : QR 11,000,000
Name of Shareholder
(s)
·
Voltamp
Manufacturing Co LLC
Rusayl Industrial Area, Plot No.
17
PO
Box 75
Rusayl
124
Oman
Tel:
(968) 24446518
/ 24626901 / 24629140
Fax: (968) 24446584
Email:
vmcsw@omantel.net.om
·
Al
Salam International Investment
Al Fandook Street
PO Box 15224
Doha
Qatar
Tel: (974) 4831415 / 4833542
Fax: (974) 4689285
Email: alsalam@qatar.net.qa
·
Four
Corner Co
OPERATIONS
Activities: Engaged in the manufacture of
switchgears and distribution transformers from 50 KVA to 10000 KVA,
33kV Class.
Transformers are manufactured in accordance with IEC - 60076, & BS
Standards.
Import
Countries: France, Germany
and India
Subject has a
workforce of 15 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Qatar National
Bank
Government House Road
PO Box 1002
Doha
Tel: (974) 4413511 / 4407407
Fax: (974) 415020
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box 3232
Doha
Tel: (974) 4428686
Fax: (974) 4428734
·
Standard
Chartered Bank
Abdullah Bin Jassim Road
PO Box 29
Doha
Tel: (974) 4414252
Fax: (974) 4413739
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Voltamp Manufacturing
Co Qatar WLL is a newly established business with operations commencing in
February 2007. It is engaged in the manufacture of
switchgears and transformers.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk,
however a measure of caution would be prudent given the lack of financial and
payment due to the short operating history.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)