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Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Street
No. 1, Gate 24, Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.04.2004 |
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Com. Reg. No.: |
25999, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Import and distribution of general
foodstuff |
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No. of Employees : |
42 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Qatar - ECONOMIC OVERVIEW
Qatar has prospered in the last several years with continued high real GDP growth in 2011. Qatari authorities throughout the financial crisis sought to protect the local banking sector with direct investments into domestic banks. GDP rebounded in 2010 largely due to the increase in oil prices and 2011's growth was supported by Qatar's investment in expanding its gas sector. Economic policy is focused on developing Qatar's nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas likely have made Qatar the second highest per-capita income country - behind Liechtenstein - and the country with the lowest unemployment. Proved oil reserves in excess of 25 billion barrels should enable continued output at current levels for 57 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 13% of the world total and third largest in the world. Qatar's successful 2022 world cup bid will likely accelerate large-scale infrastructure projects such as Qatar's metro system and the Qatar-Bahrain causeway.
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Source : CIA |
Company Name : QATAR FOOD & SERVICE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 22nd April 2004
Commercial Registration Number : 25999, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 42
Activities : Import and distribution of general foodstuff.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ramchad Hassan, General Manager
QATAR
FOOD & SERVICE WLL
Registered &
Physical Address
Street : Street
No. 1, Gate 24
Area : Industrial
Area
PO Box : 9130
Town : Doha
Country : Qatar
Telephone : (974) 44500801
/ 44500901
Facsimile : (974) 44500802
/ 44500902
Mobile : (974) 55840912
Email : qatarfood@gmail.com / qfsfinance@qatar.net.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
· Shams Uddine Olakar Indian Managing
Director
· Mohamed
Ibrahim Al Maliki Qatari Director
· Ramchad Hassan - General
Manager
· Zahir Ahmed - Finance
Manager
Date of
Establishment : 22nd
April 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 25999, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
· Shams Uddine Olakar
· Mohamed
Ibrahim Al Maliki
· Quality Hypermarket WLL
Doha
· Quality General Trading WLL
Doha
· Quality Printing Press
Doha
· Quality Hydraulic Services
Doha
Activities: Engaged in the import and distribution of general
foodstuff, including dried food, sea food, frozen meat and chicken.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 42 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
24,200,000 QR
27,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ramchad Hassan, General Manager
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
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.55.20 |
|
UK Pound |
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
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 |
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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 |
|
---- |
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.