MIRA INFORM REPORT

Report Date :

25.02.2011

IDENTIFICATION DETAILS

Name :	QATAR POLYMER INDUSTRIAL COMPANY

Formerly Known As :	National Plastic Industrial Co

Registered Office :	Emirates Airline Building, B-ring Road, Montazah Area, P.O. Box 33195, Doha

Country :	Qatar

Date of Incorporation :	13.07.1997

Com. Reg. No.:	19314

Legal Form :	Limited Liability Company

Line of Business :	Manufacturers and distributors of PP woven sacks and fabric, FIBC (Jumbo Bags), PP Bags/fabric, container liners, LDPE tubing, film and other ancillary products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	QR 2,500,000
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 NAM E

Qatar Polymer Industrial Company (Correct)

QATAR POLYMER INDUSTRIAL WLL (Requested)

company ADDRESS

Building : Emirates Airline Building

Street : B-ring Road

Area : Montazah Area

P.O. Box : 33195

Town : Doha

Country : Qatar

Telephone : (974) 4442 1256 / 4442 1250 / 4491 3916 / Mobile (974) 5586 0449

Fax : (974) 4443 8963

E-Mail : anand@qatarpac.net / info@qatarapac.net

Formerly Known As : National Plastic Industrial Co

Also Known As : Qatar Polymer Industrial Co.

SENIOR COMPANY PERSONNEL

Name Position

1. Abdulaziz Mubarak Al Dolaimi Chairman / Managing Director

2. Nassar Mubarak Al Dolaimi Director

3. Adel Mubarak Al Dolaimi Director

4. Majid Ali Sales Manager

5. Anand Salian Financial Manager

Total Employees : 400 (subject)

500 plus (group)

PAYMENTS

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

Subject is a member of Al Dolaimi Group of Companies, Qatar, with operations in Qatar and Bahrain and employing more than 500 people.

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

Opinion on maximum credit : QR 2,500,000

Trade risk assessment : Normal

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

We consider the above figure to be within the company's financial capabilities.

PRINCIPAL BANKERS

NAME : COMMERCIAL BANK OF QATAR LTD (QSC)

Branch : Main branch

PO Box : 3232

Town : Doha

Telephone : (974) 4449 0222

Fax : (974) 4443 8182

The company also has an account with the following banks :

1. BNP Paribas

Al Rayyan Road

PO Box 2636

Doha

Telephone : (974) 4443 3844

Fax : (974) 4441 0861

2. International Bank Of Qatar (Q.S.C.)

Main branch

Suhaim Bin Hamad Street

PO Box 2001

Doha

Telephone : (974) 4447 3700

Fax : (974) 4447 3710

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 220,000,000 – 2009 – exact

: QR 250,000,000 – 2010 - exact

Net Profit : not given

Financial year ends 31 December.

LEGAL STATUS AND HISTORY

Date Started : 13 July 1997

History : Subject was established in Qatar on 13 July 1997 and started

production in 1999 as a Limited Liability Company under the name National Plastic Industrial Co. In 2006 subject changed its name to the present.

C.R. No. : 19314 (expiry date : 1 March 2011)

Chamber of Commerce Membership No.: 03937

Authorised Capital : QR 200,000

Paid up Capital : QR 200,000

Limited Liability Company with the following shareholders :

1. Abdulaziz Mubarak Al Dolaimi

(Qatari national)

2. Nassar Mubarak Al Dolaimi

(brother of the above)

3. Adel Mubarak Al Dolaimi

(brother of the above)

4. Other members of Al Dolaimi family

The exact shareholding percentage was not disclosed.

Affiliated companies of Qatar Polymer Industrial Company :

Associates

Subject is a member of Al Dolaimi Group of Companies, Qatar, which also includes the following companies :

1. Al Dolaimi Trading & Construction Company

Bahrain

2. NPS Bahrain Oil And Gas Wells Services Company

Bahrain

ACTIVITIES

The Company is involved in the following activities :

Manufacturers and distributors of PP woven sacks and fabric, FIBC (Jumbo Bags), PP Bags/fabric, container liners, LDPE tubing, film and other ancillary products.

Imports raw materials from Europe and Saudi Arabia.

Exports to Europe, USA, Middle Eastern and African countries.

FACILITIES

The Company has the following facilities :

Rented premises comprising administrative offices located at the heading address as well as a manufacturing unit with warehousing facilities located in Gate No. 99, Street No. 38, Doha Industrial Area (Al Sinaeya).

Until October 2010 subject administrative offices was located at :

Al Maleki Tower

Central Doha

SPECIAL NOTE

You enquired on : QATAR POLYMER INDUSTRIAL WLL. Please note that subject’s correct registered name is as per heading.

The address which you provided : Al Malaki Tower Al Handasa Street Al Montazah Area is misspelt and applies to subject’s former address. Please note that subject's current administrative office address is as per heading.

Interviewed : Anand Salian (Financial Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.73.54
Euro	1	Rs.62.39

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

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.

Company NAME