MIRA INFORM REPORT

 

 

Report Date :

01.06.2012

 

IDENTIFICATION DETAILS

 

Name :

QATAR NATIONAL IMPORT AND EXPORT COMPANY WLL

 

 

Registered Office :

Old Airport Road, Matar Al Qadeem, P O Box 490, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1964

 

 

Com. Reg. No.:

1836, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates through several divisions

·         General Foodstuff Division

Meat Division

Sea Food Division

Poultry Division

 

 

No. of Employees :

890

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Qatar

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

sUMMARY

 

Company Name                         : QATAR NATIONAL IMPORT AND EXPORT COMPANY WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability – WLL

Start Date                                             : 1964

Registration Date                                   : 1st January 1991

Commercial Registration Number            : 1836, Doha

Chamber Membership Number                : 32/1

Issued Capital                                        : QR 3,000,000

Paid up Capital                                      : QR 3,000,000

Total Workforce                                     : 890

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Ahmed Deraz, Finance Manager

 

 

 

 

COMPANY NAME

 

QATAR NATIONAL IMPORT AND EXPORT COMPANY WLL

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Old Airport Road

Area                 : Matar Al Qadeem

PO Box             : 490

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44562150 / 44651154 / 44651829 / 44562222 / 44562211 / 44562166

Facsimile          : (974) 44653376 / 44653493 / 44562299

Email                : info@qnie.com

 

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Suburban Business Area of Doha.

 

Branch Office (s)

Subject operates a number of supermarkets located throughout Doha.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Faisal Fahd Jassim Al Thani                                                              Managing Director

·       Ghanim Saad Al Saad                                                                       Director

·       Ahmed Khan                                                                         Chief Executive Officer

·       Walid Ihsan Al Khiyami                                                                        General Manager

·       Mohamed Saleem                                                                             Marketing Manager

·       Ahmed Deraz                                                                                    Finance Manager

·       Sajit Sam Sarkary                                                                             Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1964, however subject was registered on 1st January 1991

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 1836, Doha

 

Chamber Member No. : 32/1

 

Issued Capital              : QR 3,000,000

 

Paid up Capital            : QR 3,000,000

 

Name of Shareholder (s)

·       Faisal Fahd Jassim Al Thani

·       Ghanim Saad Al Saad

 

 

AFFILIATED COMPANIES

 

·       Arla Food Qatar WLL

Doha

 

·       Al Afaq Fresh Fruit & Vegetable

Doha

 

·       Al Afaq Real Estate Investment

Doha

 

·       Al Nama Real Estate Investment

Doha

 

·       Ghanim Bin Saad Al Saad & Sons Group

PO Box: 4219

Doha

Tel: (974) 44990000

Fax: (974) 44995001

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       General Foodstuff Division

     Engaged in the import and distribution of general foodstuffs.

 

·       Meat Division

     Engaged in the import and distribution of fresh and frozen meat.

 

·       Sea Food Division

     Engaged in the import and distribution of fresh and frozen sea food.

 

·       Poultry Division

Engaged in the import and distribution of poultry products.

 

Import Countries: Denmark, Netherlands and India

 

Brand Names:  SADIA, MCCAIN, AMERICANA, GULFA, BONDUELLE, NAWAR, ZWAN, LURPAK, PANZANI, LOCK & LOCK, MUMTAZ, CAMPINA, PRIDE, FINO, PURATOS, BETTY CROCKER, ACTIVIA, TATA, COOLY and GREEN GIANT

 

Operating Trend: Steady

 

Subject has a workforce of approximately 890 employees.

 

 

FINANCIAL DATA

 

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 950,000,000             QR 990,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Ahmed Deraz, Finance Manager

 

 

BANKERS

 

·       United Bank Ltd

PO Box: 242

Doha

Tel: (974) 44438666 / 44424900

Fax: (974) 44424600

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              February 2007

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

 

GENERAL COMMENTS

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.87.37

Euro

1

Rs.69.95

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.