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Report Date : |
21.07.2012 |
IDENTIFICATION DETAILS
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Name : |
NABINA TRADING ESTABLISHMENT |
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Registered Office : |
Airport Road, Al Wakra |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1951 |
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Com. Reg. No.: |
59, |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject operates several divisions like Building Materials
Division, Nabina Ceramic Division, Nabina Marble Division, Nabina Kitchen
Division |
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No. of Employees : |
1,000 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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) |
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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 : NABINA TRADING ESTABLISHMENT
Country of Origin : Qatar
Legal Form : General Partnership
Registration Date : 1951
Commercial Registration Number : 59, Doha
Partners Capital : QR 100,000,000
Total Workforce : 1,000
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Desh Pande, Finance Manager
NABINA TRADING ESTABLISHMENT
Location : Airport Road,
Al Wakra
PO Box : 130
Town : Doha
Country : Qatar
Telephone : (974) 44652345
/ 44652344
Facsimile : (974) 44652386
/ 44660555
Email : nabinaco@qatar.net.qa
/ nabinagroup@qatar.net.qa
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Name Position
· Ibrahim Mohamed
Nabina Managing
Partner
· Abdulaziz Mohamed
Nabina Partner
· Nasser Ahmed
Mohamed Abdulaziz Nabina General
Manager
· Yousef Hamad Commercial
Manager
· Desh Pande Finance
Manager
Date of
Establishment : 1951
Legal Form : General Partnership
Commercial Reg.
No. : 59, Doha
Partners Capital : QR 100,000,000
· Ibrahim Mohamed
Nabina
· Abdulaziz Mohamed
Nabina
· Nabina Artificial
Marble Factory
Salwa Road
Doha Industrial
Area
PO Box: 130
Doha
Tel: (974)
44652345
Fax: (974)
44652386
· Nabina Gallery
PO Box: 130
Doha
Tel: (974)
44426426 / 44435566
Fax: (974)
44435757
Activities: Subject’s operations are performed through the following divisions:
Engaged in the import, distribution,
wholesale and retail of building materials, stocking more than 200 types of products
such as steel and wood. This division is providing approximately 75% of the
construction materials in Qatar.
Engaged in the import, wholesale and
retail of sanitary ware products and ceramics with a product range consisting
of over 200 different products. The range includes bathroom sets, ceramic
tiles, marbles, kitchen cabinets, equipments, accessories, appliances, worktops
and sinks.
Engaged in the
wholesale and retail of marble products.
Engaged
in the wholesale and retail of kitchen units, kitchenware and equipment.
The transport division specialises in
providing the following services: Overland transport to all AGCC countries,
International Freight service., Full truck and part load trailer service to all
AGCC destinations, General Cargo services, Warehousing and distribution, Local
Transportation, Project Cargo Handling.
The division operates a fleet of more
than 40 trailers and is Official carriers of Qatar Steel Company for all AGCC
destinations.
This
division is engaged as real estate developers and general building contractors.
The factory is the biggest stained glass factory
in Qatar specialized in glass colouring, cutting and drilling. Sole Agents for
RSG systems of the United Kingdom.
· Nabina Trading
This division is responsible for subject’s
financial and non-financial affairs.
Import Countries: Italy, Spain, United Kingdom, Japan and the United
Arab Emirates
International Suppliers:
· RAK Ceramics United Arab Emirates
· Gianne Versace Italy
· Toto Japan
· Supergrif Spain
Operating Trend: Steady
Subject has a workforce of approximately 1,000 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
153,000,000 QR 157,500,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
·
Doha Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
·
Qatar National Bank
Government House Road
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
·
Arab Bank Ltd
PO Box: 172
Doha
Tel: (974) 44437979 / 44422814
Fax: (974) 44410774
No complaints regarding subject’s payments have been reported.
Nabina Trading Establishment has been in business for over 50 years and
is a leading concern in the Qatari business community with interests in the
building materials and sanitary ware sectors, land transportation industry,
real estate and glass manufacturing.
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.55.15 |
|
|
1 |
Rs.86.58 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
<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.