MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
BETON WLL |
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Registered Office : |
24787, Doha, Dafan Al Ousail Area, PO Box
22581, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
24787, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacture and Distribution of Ready Mix Concrete |
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$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BETON WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2001
Commercial Registration Number : 24787, Doha
Issued Capital : QR 2,500,000
Paid up Capital : QR 2,500,000
Total Workforce : 200
Activities : Manufacture and distribution of ready mix concrete
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
Person Interviewed : Sunil Ayoub, Finance Manager
COMPANY NAME
BETON WLL
ADDRESS
Registered & Physical Address
Location : Dafan Al
Ousail Area
PO Box : 22581
Town : Doha
Country : Qatar
Telephone : (974) 4906036 / 4424101
Facsimile : (974) 4906038
Email : betonbeton@betonqatar.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 Nationality Position
·
Saud
Ahmed Al Mani Qatari Managing Director
·
Robert
Tarazi Greek Director
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Sunil
Ayoub - Finance
Manager
·
Mazen
Attalah - Operations
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 24787, Doha
Issued Capital : QR 2,500,000
Paid up Capital : QR 2,500,000
Name of Shareholder (s)
·
Saud
Ahmed Al Mani
·
Robert
Tarazi
OPERATIONS
Activities: Engaged in the manufacture and distribution
of ready mix concrete.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 182,000,000 QR 200,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures were confirmed by Sunil Ayoub, Finance
Manager.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
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Mashreq Bank
PO Box : 173
Doha
Tel : (974) 413213 / 414932
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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%)