MIRA
INFORM REPORT
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Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
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Name : |
CAPE EAST WLL |
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Registered Office : |
Street No. 27 (Jabal Tariq Street) Umm Ghuwailina Area PO Box 12573 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1995 |
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Com. Reg. No.: |
17374, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
General insulation
contractors as well as providing services covering scaffolding, refractory and coating for the
oilfield and gas industries. |
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$ 1,750,000 |
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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 30, 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 : CAPE EAST WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1995
Commercial Registration Number : 17374, Doha
Chamber Membership Number : 2403
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 3,000
Activities :
General insulation contractors as well
as providing services covering
scaffolding, refractory and coating for the oilfield and gas industries.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,750,000
Person Interviewed : Joseph Chirammel, Finance Manager
COMPANY NAME
CAPE EAST WLL
ADDRESS
Registered & Physical Address
Street : Street No.
27 (Jabal Tariq Street)
Area : Umm
Ghuwailina Area
PO Box : 12573
Town : Doha
Country : Qatar
Telephone : (974) 44372727
/ 44318989
Facsimile : (974) 44317575
Email : mukesh.gupta@capeplc.me
/ joseph.chirammel@capeplc.me
Premises
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Position
· Sheikh Khalifa Bin Jassim Al Thani Managing
Director
· Sheikh Faisal Bin Jassim Al Thani Director
· Mukesh Gupta Contracts
Manager
· Kunjithapatham Ganesh Operations
Manager
· Samir Chopra Technical
Manager
· Joseph Chirammel Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1995
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 17374, Doha
Chamber Member No. : 2403
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder (s) Percentage
· Middle East Business Development WLL 51%
Doha
· Cape East EC 49%
Manama
Bahrain
OPERATIONS
Activities: Engaged as general insulation contractors as
well as providing services covering scaffolding, refractory
and coating for the oilfield and gas
industries.
Import Countries: India and Europe
Operating Trend: Steady
Subject has a workforce of approximately 3,000 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Revenue US$
94,600,000 US$ 100,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Joseph Chirammel,
Finance Manager
BANKERS
·
Commercial Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.78 |
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|
1 |
Rs.80.12 |
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Euro |
1 |
Rs.68.82 |
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.