MIRA INFORM REPORT

 

 

Report Date :

30.08.2011

 

IDENTIFICATION DETAILS

 

Name :

BHARAT TRADING & CONTRACTING CO.

 

 

Registered Office :

Zayed Building, 2nd Floor, Office No. 1 Al Najma Street Najma Area P.O. Box 13867 Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

October 2004

 

 

Com. Reg. No.:

30444

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers and suppliers of marble and granite.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

QR 100,000 

Status :

Small Company

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Qatar

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME

 

Bharat Trading & Contracting Co. (Correct)

BHARAT TRADING CO WLL (Requested)

 

 

ADDRESS

 

Building : Zayed Building, 2nd Floor, Office No. 1

 

Street   : Al Najma Street

 

Area     : Najma Area

 

P.O. Box : 13867

Town     : Doha

Country  : Qatar

 

Telephone: (974) 4431 3751 / 4435 3224 / Mobile 5552 9430

Fax      : (974) 4435 4680 / 4431 3751 (ask for fax)

 

Also known as : Bharat Trading Co.

 

 

SENIOR COMPANY PERSONNEL

 

Name                            Position

 

Manohar Shroff             Managing Director

 

 

Total Employees : 4

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

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

 

Opinion on maximum credit : QR 100,000 

 

Trade risk assessment: Normal

 

Opinion on the credit figure of US DLRS 1,500,000 :

 

We consider the above figure to be beyond the Company's financial

capabilities and recommend dealing on fully secured terms.

 

 

PRINCIPAL BANKERS

 

NAME     : DOHA BANK LTD

 

Branch   : Main branch

PO Box   : 3818

Town     : Doha

 

Telephone: (974) 4443 5444

Fax      : (974) 4441 6631

 

Former Banker :

 

Qatar Islamic Bank SAQ

Grand Hamad Street

PO Box 559

Doha

Telephone: (974) 4440 9409

Fax      : (974) 4441 2700

 

 

FINANCIAL INFORMATION

 

Private companies in Qatar are not required to publish or disclose

balance sheets. However, the subject interviewed offered the

following information :

 

Sales Turnover      : QR 3,000,000 - 2010 – approx                

                     

Net Profit                : not given

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : October 2004

 

C.R. No. : 30444 (expiry date : April 2012)

 

Authorised Capital : QR 200,000

 

Paid up Capital : QR 200,000

 

Limited Liability Company with the following shareholders :

 

                                                Percentage

 

1. Manohar Shroff                        49%

  (Indian national)

 

2. Hassan Ali Al Ansari                 51%

  (Qatari national)

 

* The local sponsor, according to Qatari laws must hold a minimum of

  51% of the capital, however, in practice and unofficially the

  sponsor gets a fixed annual percentage of the profit and a

  sponsorship fee without any investment in the company.

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers and suppliers of marble and granite.

 

Subject also provides installation services.

 

NACE Code : 4753 / 4333

 

Imports from Europe and Asia.

 

The company does not export, all sales are domestic.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented office premises with storage facilities located

at the heading address.

 

 

SPECIAL NOTE

 

You enquired on : BHARAT TRADING CO WLL. Please note that subject's correct registered name is as per heading.

 

The tele/fax number which you provided : 431 3751 has been changed.  Please note that subject's current telephone and fax numbers are as per heading.

 

On 27 July 2010 telephone numbers in Qatar have changed. Local numbers added an additional digit by doubling up on the first digit of that number. For example 4xxxxxx became 44xxxxxx. Please note that the subject's current telephone numbers are as per heading.

 

The contact name given by you : Manohar Sharoff is misspelt and the correct spelling is as per heading.

 

The banker given by : Qatar Islamic Bank refers to subject

former banker. Please note that subject's current principal bankers

are given in "Principal Bankers" section.

 

Interviewed : Manohar Shroff (Managing Director).

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.87

UK Pound

1

Rs.75.14

Euro

1

Rs.66.68

 

 

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.