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Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
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Name : |
PROGRESSIVE MARKETING WLL |
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Registered Office : |
Street No. 2,
Industrial Area, P O Box 6055, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.10.2006 |
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Com. Reg. No.: |
33976, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : PROGRESSIVE MARKETING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 11th October 2006
Commercial Registration Number : 33976, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 65
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Arvind Menon, Finance Manager
PROGRESSIVE
MARKETING WLL
Registered &
Physical Address
Street : Street No. 2
Area : Industrial Area
PO Box : 6055
Town : Doha
Country : Qatar
Telephone : (974) 44602655 / 44422456
Facsimile : (974) 44603306
Mobile : (974) 55819487 / 55897802
Email : info@pm.com.qa
/ mohsin@pm.com.qa / assik@family.com.qa
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and located
in the Industrial Area of Doha.
Name Nationality Position
·
Abdulrahman
Abdullah Al Ansari Qatari Managing
Director
·
Permupllipat Pyyoorayil Fasalu
Indian Director
·
Permupllipat
Pyyoorayil Asik - General
Manager
·
Permupllipat
Pyyoorayil Gamal - Assistant
General Manager
·
Bader Al Zaman - Administration
Manager
·
Arvind
Menon - Finance
Manager
·
Raja
Punnen - Financial
Controller
Date of Establishment : 11th
October 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 33976, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Abdulrahman
Abdullah Al Ansari
·
Permupllipat Pyyoorayil Fasalu
·
Family
Food Centre
Doha
·
Al
Ansari & Partner Trading
Doha
·
Al
Ansar International
Doha
·
Microworld
Doha
·
Abdulrahman Abdullah Al Ansari Trading &
Contracting
Doha
·
Variety
Trading Co WLL
Doha
Activities: Engaged in the import and distribution of
general foodstuff products, including meat, fish and poultry
products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 65 employees.
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales QR 25,000,000 QR 26,200,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Arvind
Menon,
Finance Manager
·
Qatar
National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.14 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.