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Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED AND BROS
INTERNATIONAL TRADING CO WLL |
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Registered Office : |
Mushreib Street,
2892 Doha |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.03.2003 |
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Com. Reg. No.: |
26793, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of
sanitary ware products, pipes and PVC fittings. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Source
: CIA |
Company Name : MOHAMED
AND BROS INTERNATIONAL TRADING CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 12th
March 2003
Commercial
Registration Number : 26793,
Doha
Issued Capital : QR
300,000
Paid up Capital : QR
300,000
Total Workforce : 15
Activities :
Distributors of sanitary ware products, pipes and PVC fittings.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Hassan
A Burdaini, Managing Director
MOHAMED AND BROS
INTERNATIONAL TRADING CO WLL
Location : Mushreib Street
PO Box : 2892
Town : Doha
Country : Qatar
Telephone : (974) 44327030
Facsimile : (974) 44327030 / 44354183
Email : msdbrothers@yahoo.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Doha.
Branch Office
(s)
Location Description
·
Najma
Street Office
premises
Doha
Tel: (974) 44319004
Name Position
·
Mohamed
Hassan A Burdaini Managing
Director
·
Khalid
Hassan A Burdaini Director
Date of Establishment : 12th
March 2003
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 26793, Doha
Issued Capital : QR 300,000
Paid up Capital : QR 300,000
Name of Shareholder
(s)
·
Mohamed
Hassan A Burdaini
·
Khalid
Hassan A Burdaini
Activities: Engaged in the import and distribution of
sanitary ware products, pipes and PVC fittings.
Import
Countries: United Arab
Emirates.
International
Suppliers:
·
RAFCO Dubai
Operating Trend: Steady
Subject has a
workforce of 15 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 9,220,000 QR 9,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Qatar
International Islamic Bank
PO Box: 664
Doha
Tel: (974) 44435535 / 44435548
Fax: (974) 44444101
No complaints
regarding subject’s payments have been reported.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.