MIRA INFORM REPORT

Report Date :

19.05.2012

IDENTIFICATION DETAILS

Name :	Q CHEM DISTRIBUTION CO LTD
Registered Office :	Al Salam Tower, 1st Floor Corniche Street PO Box 24646 Doha
Country :	Qatar
Date of Incorporation :	20.10.2005
Com. Reg. No.:	31547, Doha
Legal Form :	With Limited Liability - WLL
Line of Business :	Marketing and distribution of chemicals and polyethylene.
No. of Employees :	35

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

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 31^st, 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 : Q CHEM DISTRIBUTION CO LTD

Country of Origin : Qatar

Legal Form : With Limited Liability - WLL

Registration Date : 20^th October 2005

Commercial Registration Number : 31547, Doha

Chamber Membership Number : 10339/1

Issued Capital : QR 10,000,000

Paid up Capital : QR 10,000,000

Total Workforce : 35

Activities : Marketing and distribution of chemicals and polyethylene.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

Q CHEM DISTRIBUTION CO LTD

company ADDRESS

Registered & Physical Address

Building : Al Salam Tower, 1st Floor

Street : Corniche Street

PO Box : 24646

Town : Doha

Country : Qatar

Telephone : (974) 44847111 / 44847104

Facsimile : (974) 44847171

Email : wslumberio@qchem.com.qa / alamadi@qchem.com.qa

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Doha.

KEY PRINCIPALS

Name Position

· Ahmed Al Emadi General Manager

· Ahmed Abdullah Al Sakari Business Development Manager

· Clark Meese Marketing Manager

· Mike Emerson Finance Manager

LEGAL FORM & OWNERS

Date of Establishment : 20^th October 2005

Legal Form : With Limited Liability - WLL

Commercial Reg. No. : 31547, Doha

Chamber Member No. : 10339/1

Issued Capital : QR 10,000,000

Paid up Capital : QR 10,000,000

Name of Shareholder (s) Percentage

· Qatar Petrochemical (QP) 51%

Doha

· Chevron Philips Chemicals 49%

United States of America

OPERATIONS

Activities: Engaged in the marketing and distribution of chemicals and polyethylene.

Import Countries: United States of America and India.

Subject has a workforce of 35 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

· Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44428686

Fax: (974) 44428734

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

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.54.88
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.