MIRA INFORM
REPORT
|
Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
NEW WORLD COMPANY WLL |
|
|
|
|
Registered Office : |
P.O. Box No. 3726 X Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
01.01.1991 |
|
|
|
|
Com. Reg. No.: |
9596, Doha |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Subject operates through several divisions New World Centre Division, Doha City Division, Ansar Gallery Division, Ansar City Division |
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$ 200,000 |
|
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 – 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 |
Bottom of Form
SUMMARY
Company Name : NEW WORLD COMPANY WLL
Also Known As : NEW WORLD CENTRE
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st January 1991
Commercial Registration Number : 9596, Doha
Chamber Membership Number : 3571/1
Issued Capital : QR 10,000,000
Paid up Capital : QR 10,000,000
Total Workforce : 270
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
NEW WORLD COMPANY
WLL
ALSO KNOWN AS
NEW WORLD CENTRE
company ADDRESS
Registered & Physical Address
Location : Museum Road
PO Box : 3726
Town : Doha
Country : Qatar
Telephone : (974) 44412734
Facsimile : (974) 44415678
Mobile : (974) 55889290
Email : dohacity@qatar.net.qa
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
·
Ali Akbar Sheikh Ali Iranian Managing
Director
·
Saleh Ali Qaisi Qatari Director
·
Mohamed Fathi - General
Manager
·
Mohamed Abdul Kraim - Commercial
Manager
·
Gupta Kumar - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
January 1991
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 9596, Doha
Chamber Member No. : 3571/1
Issued Capital : QR 10,000,000
Paid up Capital : QR 10,000,000
Name of
Shareholder (s)
·
Ali Akbar Sheikh Ali
·
Saleh Ali Qaisi
·
Al Ansar Group of Companies
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
·
New
World Centre Division
Distributors
of toys,
ready made garments, footwear, leather products, electrical equipment and
electronic appliances.
·
Doha
City Division
Wholesaler and retailers of furniture,
carpets and upholstery materials.
·
Ansar
City Division
Distributors of ceramics, tiles
and sanitary ware products.
·
Ansar
Gallery Division
Operators of a gallery.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 270 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
National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
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.44.85 |
|
UK Pound |
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.