MIRA INFORM REPORT
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Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
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Name : |
DARWISH PETROLEUM & INDUSTRIAL SERVICES
WLL |
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Registered Office : |
KDS Building, 2nd
Floor, Salwa Road, P O Box 350, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
33/13 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of petroleum equipment, instruments and chemical supplies |
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No. of Employees
: |
45 persons |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Qatar |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : DARWISH PETROLEUM & INDUSTRIAL SERVICES WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1994
Commercial Registration Number : 33/13
Chamber Membership Number : 1447/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 45
Activities :
Distributors of petroleum equipment,
instruments and chemical
supplies.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
Person Interviewed : Feras Al Jabi, Finance Manager
COMPANY NAME
DARWISH PETROLEUM & INDUSTRIAL SERVICES
WLL
company ADDRESS
Registered &
Physical Address
Building : KDS Building, 2nd
Floor
Street : Salwa Road
PO Box : 350
Town : Doha
Country : Qatar
Telephone : (974) 44683993 / 44422781 / 44366678 / 44366679
Facsimile : (974) 44687725 / 44415172
Mobile : (974)
55054371
Email : dpis04@qatar.net.qa
/ dpis06@qatar.net.qa / dpis@qatar.net.qa
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Position
·
Hassan Kassem Darwish Fakhroo Managing
Director
·
Ahmed Kassem Darwish Fakhroo Director
·
Nasser Kassem Darwish Fakhroo Director
·
Thore E Roflsen General
Manager
·
G K Jayanatha Sales
Manager
·
Feras Al Jabi Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 33/13
Chamber Member No. : 1447/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of
Shareholder (s)
·
Hassan Kassem Darwish Fakhroo
·
Ahmed Kassem Darwish Fakhroo
·
Nasser Kassem Darwish Fakhroo
·
Kassem
Darwish Fakhro & Sons (Darwish-Group)
OPERATIONS
Activities: Engaged in the import and distribution of petroleum
equipment, instruments and chemical supplies.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 45 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales QR 5,200,000 QR 6,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Feras Al Jabi, Finance Manager
BANKERS
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk and the above
credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.42 |
|
UK Pound |
1 |
Rs.81.92 |
|
Euro |
1 |
Rs.69.94 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.