MIRA INFORM REPORT

 

 

Report Date :           

22.11.2011

 

IDENTIFICATION DETAILS

 

Name :

ENERGY TECH SERVICES WLL (ETS)

 

 

Registered Office :

Al Jawad Building, First Floor, C-Ring Road, Al Hilal West, P O Box 4718, Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

15.02.2005

 

 

Com. Reg. No.:

29796, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Industrial and Turnkey Project Contractors

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 250,000

Status :

Satisfactory

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Qatar

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ENERGY TECH SERVICES WLL (ETS)

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 15th February 2005

Commercial Registration Number            : 29796, Doha

Issued Capital                                        : QR 250,000

Paid up Capital                                      : QR 250,000

Total Workforce                                     : 500

Activities                                               : Industrial and turnkey project contractors.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 250,000

 

 

 

COMPANY NAME

 

ENERGY TECH SERVICES WLL (ETS)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Jawad Building, First Floor

Street               : C-Ring Road

Area                 : Al Hilal West

PO Box             : 4718

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44428706 / 44428492 / 44416426

Facsimile          : (974) 44427409

Email                : mail@etsqatar.net

 

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Doha.

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                               Position

 

·       Vailambath Rav Unni                                                 Indian                                        Managing Director

 

·       Sheikh Salman Bin Ahmed Al Jaber Al Thani               Qatari                                       Director

 

·       J Veeramani                                                                  -                                          Project Manager

 

·       Shareef Sharaf                                                               -                                          Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th February 2005

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 29796, Doha

 

Issued Capital              : QR 250,000

 

Paid up Capital            : QR 250,000

 

Name of Shareholder (s)

·       Vailambath Rav Unni

·       Sheikh Salman Bin Ahmed Al Jaber Al Thani

 

 

AFFILIATED COMPANIES

 

·       Desert Line Projects

Doha

 

·       Seattle Trading & Contracting Co

Doha

 

·       Innovative Trading & Contracting Co

Doha

 

 

OPERATIONS

 

Activities: Engaged as industrial and turnkey project contractors.

 

Subject specializes in executing turn-around plant shutdowns, EPIC projects, industrial construction and maintenance jobs (mechanical & civil), industrial steel fabrication, corrosion protection and supply of skilled manpower. ETS also sells and services industrial equipment and machinery and represents several world renowned manufacturers.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 500 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

 

·       Qatar Islamic Bank

Al Khleej Insurance Building

Grand Hamad Avenue

PO Box: 559

Doha

Tel: (974) 44409409

Fax: (974) 44412700

 

 

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.51.72

UK Pound

1

Rs.81.42

Euro

1

Rs.68.89

 

 

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.