MIRA
INFORM REPORT
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Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEEF LTD |
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Registered Office : |
Mesaieed
Industrial City, PO Box 50077, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
18.08. 2004 |
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Com. Reg. No.: |
28759, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Production of Linear Alkyl Benzene and Other
Petrochemicals |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SEEF LTD
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 18th August 2004
Commercial Registration Number : 28759, Doha
Issued Capital : QR 100,000
Paid up Capital : QR 100,000
Total Workforce : 85
Activities : Production of linear alkyl benzene and other petrochemicals
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
SEEF LTD
ADDRESS
Registered & Physical Address
Location : Mesaieed Industrial City
PO Box : 50077
Town : Doha
Country : Qatar
Telephone : (974) 4773111 / 4773142
Facsimile : (974) 4772903 / 4772894
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
·
Ahmed
Al Hitmi Managing
Director
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Hussain
Al Fardan Director
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Abdullah
Al Merri Director
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Adel
Al Bakerf Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
August 2004
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 28759, Doha
Issued Capital : QR 100,000
Paid up Capital : QR 100,000
Name of Shareholder (s) Percentage
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Qatar
Petroleum 80%
Qatar
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United
Development Co (UDC) 20%
Qatar
OPERATIONS
Activities: Engaged in the production of linear alkyl
benzene and other petrochemicals.
Import
Countries: India, China and
Japan
Subject has a
workforce of 85 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
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)