MIRA INFORM REPORT

Report Date :

13.01.2011

IDENTIFICATION DETAILS

Name :	PRIVATE ENGINEERING OFFICE

Registered Office :	Diwan Amiri Building Corniche Road, Jassim Bin Mohammed Street Corniche Road Area PO Box 23723 Doha

Country :	Qatar

Year of Establishment :	2004

Legal Form :	--

Line of Business :	Provides project and property management services.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	QR 3,000,000
Status :	Good
Payment Behaviour :	No Complaints
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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Qatar

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

Private Engineering Office

ADDRESS

Building : Diwan Amiri Building

Street : Corniche Road, Jassim Bin Mohammed Street

Area : Corniche Road Area

PO Box : 23723

Town : Doha

Country : Qatar

Telephone : (974) 4499 8555 / 4499 8502 / Mobiles (974) 5552 1771 / (974) 5550 0364

Fax : (974) 4442 4079 / 4431 2484

Short form : PEO

Also Known As : Private Engineering Office (PEO)

SENIOR COMPANY PERSONNEL

Name Position

1. Abdullah Hassan Al Mihshadi General Manager

2. Nabil Ibrahim Projects Manager

3. Hamd Al Muraikhi Accounts Manager

Total Employees : 500

PAYMENTS

No complaints have been heard regarding payments from local suppliers

or banks.

Subject is owned by the Government of Qatar.

We consider it is acceptable to deal with subject for LARGE amounts.

Opinion on maximum credit : QR 3,000,000

Trade risk assessment : Normal

PRINCIPAL BANKERS

NAME : QATAR NATIONAL BANK (QNB)

Branch : Main Branch

P.O. Box : 1000

Town : Doha

Telephone: (974) 4440 7777

Fax : (974) 4443 1036

FINANCIAL INFORMATION

State owned companies in Qatar are not required to publish or

disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

LEGAL STATUS AND HISTORY

Date Started : 2004

Capital : not given

State owned entity responsible to the Amiri Diwan.

ACTIVITIES

The Subject is involved in the following activities :

Subject provides project and property management services.

Real estate developers.

Subject also manages a number of government assets including Souq Waqef, the country’s cultural and entertainment landmark.

Imports requirements from Europe, USA and Asia.

The Subject does not export, all sales are domestic.

Current project :

Project name : Al-Quds Endowment Tower

Location : West Bay, Doha.

The project will include the construction of a 100-floor tower, a hotel, residential units, offices and related facilities

FACILITIES

The Company has the following facilities :

Owned premises comprising administrative offices with warehousing facilities located at the heading address as well as site offices located elsewhere in Qatar.

SPECIAL NOTE

Interviewed : Hamd Al Muraikhi (Accounts Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.16
UK Pound	1	Rs.70.64
Euro	1	Rs.58.68

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	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
--	NB	New Business	--

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.