MIRA INFORM REPORT

 

 

Report Date :

11.01.2012

 

IDENTIFICATION DETAILS

 

Name :

TEXAS ENGINEERING TRADING & CONTRACTING WLL

 

 

Registered Office :

Salwa Road. PO Box: 5403, Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

16.12.2007

 

 

Com. Reg. No.:

37694, Doha

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Electro mechanical contractors

 

 

No. of Employees :

120

 

 

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 30, 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                                     : TEXAS ENGINEERING TRADING & CONTRACTING WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 16th December 2007

Commercial Registration Number                        : 37694, Doha

Issued Capital                                        : QR 500,000

Paid up Capital                                      : QR 500,000

Total Workforce                                     : 120

Activities                                               : Electro mechanical contractors

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

 

COMPANY NAME

 

TEXAS ENGINEERING TRADING & CONTRACTING WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Salwa Road

PO Box             : 5403

Town                 : Doha

Country             : Qatar

Telephone         : (974) 444580074 / 444696201 / 444514991

Facsimile          : (974) 44582503

Mobile               : (974) 55890854

Email                : info@tetcqatar.com

 

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                                                               Nationality                               Position

 

Chinnappen Ganesan                                                     Indian                                        Managing Director

 

Ali Abdulrahman Hassan Abu Yohab Al Sulaiti                 Qatari                                       Director

 

Roderick Ponce Way                                                          -                                          Operations Manager

 

Krishnan Raman                                                                 -                                          Financial Manager

           

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th December 2007

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 37694, Doha

 

Issued Capital              : QR 500,000

 

Paid up Capital            : QR 500,000

 

Name of Shareholder (s)                                         Percentage

 

Ali Abdulrahman Hassan Abu Yohab Al Sulaiti                 51%

 

Chinnappen Ganesan                                                     49%

 

 

OPERATIONS

 

 

Activities: Engaged as electro mechanical contractors.

 

     Subject’s services include heating, ventilation and air conditioning, electrical installations, fire alarm

     systems, fire fighting/sprinkler systems, plumbing and drainage systems, garbage chute systems, building

     management systems and CCTV systems.

 

Operating Trend: Steady

 

Subject has a workforce of 120 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 34,770,000                          QR 36,175,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Qatar International Islamic Bank

PO Box: 664

Doha

Tel: (974) 44435535 / 44435548

Fax: (974) 44444101

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000:

 

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.52.22

UK Pound

1

Rs.80.84

Euro

1

Rs.66.80

 

 

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.