MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
QATAR VINYL COMPANY LTD QSC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
December 1997 |
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Com. Reg. No.: |
19874, |
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Legal Form : |
Qatari Shareholding Company |
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Line of Business : |
Production of vinyl chloride monomer, ethylene dichloride, and caustic soda |
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$ 1,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : QATAR VINYL COMPANY LTD QSC
Country of Origin :
Legal Form : Qatari Shareholding Company - QSC
Registration Date : December 1997
Commercial Registration Number : 19874,
Chamber Membership Number : 2834
Issued Capital : QR 400,000,000
Paid up Capital : QR 400,000,000
Total Workforce : 220
Activities : Production of vinyl chloride monomer, ethylene dichloride, and caustic soda
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,500,000
COMPANY NAME
QATAR
VINYL COMPANY LTD QSC
ADDRESS
Registered &
Physical Address
Location :
PO Box : 24440
Town :
Country :
Telephone : (974) 4765888
Facsimile : (974) 4765777
/ 4795704
Email : qvc@qvc.com.qa
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
KEY PRINCIPALS
Name Position
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Ottar
Berge Managing
Director
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Hamad Rashid A l Numai General
Manager
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Waleed
Raslan Al Abdullah Finance
Manager
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Attallah Irsan Development & Training Manager
LEGAL FORM & OWNERS
Date of Establishment : December 1997
Legal Form :
Qatari Shareholding Company
- QSC
Commercial Reg. No. : 19874,
Chamber Member No. : 2834
Issued Capital : QR 400,000,000
Paid up Capital :
QR 400,000,000
Name of Shareholder
(s)
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Qatar Petrochemical Company (QAPCO)
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·
Atofina
OPERATIONS
Activities: Engaged in the production of vinyl chloride
monomer, ethylene dichloride, and caustic soda.
Production
Capacity: 220,000 metric tonnes per annum - Vinyl
chloride monomer
175,000
metric tonnes per annum - Ethylene dichloride
580,000
metric tonnes per annum - Caustic soda
Import
Countries:
Export
Countries:
Subject has a
workforce of approximately 220 employees.
FINANCIAL DATA
Companies registered
in
BANKERS
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Banque
Paribas
PO Box : 2636
Tel : (974) 4430346 / 4430344
Fax : (974) 4430121
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Qatar
National Bank
Government
PO Box : 1002
Tel : (974) 4413511 / 4407407
Fax : (974) 415020
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HSBC
Bank
PO Box : 57
Tel : (974) 4423124
Fax : (974) 4416353
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Standard
Chartered Bank
PO Box : 29
Tel : (974) 4414252
Fax : (974) 4413739
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction December
2006 September 2007
Credit amount 150,000 154,620
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars Canadian
Dollars
GENERAL COMMENTS
Qatar
Vinyl Company Ltd QSC was founded in 1997 and is engaged in the production of vinyl chloride monomer, ethylene dichloride,
and caustic soda.
The company is run
in a professional manner and is owned by a number of well known and financially
sound organisations, including Qatar Petroleum (QP).
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)