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Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
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Name : |
FINISHING AND
ARCHITECTURAL SUPPLY CO WLL |
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Registered Office : |
Salwa Road, 16097
Doha |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.02.2006 |
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Com. Reg. No.: |
32113,
Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Measuring, drawing, cutting, polishing, and installation of building finishing materials, granite and marble. |
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No. of Employees : |
65 |
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) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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
|
Source
: CIA |
Company Name : FINISHING AND
ARCHITECTURAL SUPPLY CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 7th
February 2006
Commercial
Registration Number : 32113, Doha
Chamber Membership
Number : 11172/1
Issued Capital : QR 200,000
Paid up Capital : QR
200,000
Total Workforce : 65
Activities :
Measuring, drawing, cutting, polishing, and installation of building finishing
materials, granite and marble.
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
FINISHING AND
ARCHITECTURAL SUPPLY CO WLL
Location : Salwa Road
PO Box : 16097
Town : Doha
Country : Qatar
Telephone : (974) 44680788 / 44583318
Facsimile : (974) 44681442
Mobile : (974) 55853725
Email : ail@finarqatar.net.qa
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Ali Al Sheikh Al Khateeb Lebanese Managing
Director
·
Amjad Al Jumaili Qatari Director
·
Radwan
Al Wakeel - General
Manager
·
Asma
Mohamed - Administration
Secretary
Date of Establishment : 7th
February 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 32113, Doha
Chamber Member No. : 11172/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
·
Ali Al Sheikh Al Khateeb
·
Amjad Al Jumaili
Activities: Engaged in the measuring, drawing, cutting,
polishing, and installation of building finishing materials,
granite
and marble.
Import
Countries: India, Italy,
Spain and Brazil.
International
Suppliers:
·
Finar
Ceramic Spain
·
Naz
Ceramic Spain
· Marmoles Italy
Operating Trend: Steady
Subject has a
workforce of 65 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 14,100,000 QR 14,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.61 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
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 |
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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 |
|
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 |
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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 |
|
<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.