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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2004 |
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Com. Reg. No.: |
4073, |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Import, wholesale and supply of general foodstuffs |
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No. of Employees : |
190 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
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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 : AL RAED TRADING COMPANY WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Start Date : 2004
Registration Date : 1st January 2007
Commercial Registration Number : 4073, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 190
Activities : Import, wholesale and supply of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohan Lal, Finance Manager
AL RAED TRADING
COMPANY WLL
Registered &
Physical Address
Location : Salwa Road, Central Market
PO Box : 39199
Town : Doha
Country :
Telephone : (974) 44694071 / 44605891 / 44688550
Facsimile : (974) 44685687 / 44688529
Mobile : (974) 66604662
Email : alraed@alraedtrading.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Doha.
Branch Office (s)
Location Description
·
Industrial
Area, Gate No. 5, Street No. 36 Rented
showroom premises
Doha
Tel: (974) 44688550
Fax: (974) 44688529
Name Nationality Position
·
Abdullah Hassan Al Khalaf Qatari Managing Director
·
Raed Abdullah Hassan Al Khalaf Qatari Director
·
Haider Ali G Haidari Iranian Director
·
Ihab
Kroum - General
Manager
·
Mohan
Lal - Finance
Manager
·
Justin
Fernandes - Sales
Executive
Date of Establishment : Subject’s
operations date back to 2004, however it was registered on 1st
January 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 4073, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of
Shareholder (s)
·
Abdullah Hassan Al Khalaf
·
Raed Abdullah Hassan Al Khalaf
·
Haider Ali G Haidari
·
Abu
Khalifa Trading Est
Doha
Activities: Engaged in the import,
wholesale and supply of general foodstuffs, specialising in fresh fruits and
vegetables, herbs
and packaged products.
Import
Countries: Spain, India,
China and Malaysia
International
Suppliers:
·
Sangar
Export Ltd India
·
Blue
Whale Inc United
States of America
Brand Names: MAWASIM, DOLE, DEL SOL, EURO GIJBELS,
UNIFRUTTI, THE GREENERY, KARMA and ZEIN
Operating Trend: Steady
Subject has a
workforce of approximately 190 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 79,600,000 QR 86,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohan Lal, Finance Manager
·
Doha
Bank Ltd
Salwa Road
PO Box: 2176
Doha
Tel: (974) 44882180 / 44884888 / 44882181
Fax: (974) 44881768
·
HSBC
Bank Middle East
Abdulla Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
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 |
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US Dollar |
1 |
Rs.55.20 |
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UK Pound |
1 |
Rs.88.38 |
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Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.