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Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Rayyan Road PO Box 9763 |
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Country : |
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Date of Incorporation : |
27.02.1999 |
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Com. Reg. No.: |
21255, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Owners and operators of a shopping complex. |
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No. of Employees : |
150 |
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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 (31.03.2011) |
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.
Source : CIA
Company Name : LULU CENTER
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 27th February 1999
Commercial Registration Number : 21255, Doha
Chamber Membership Number : 4573
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 150
Activities : Owners and operators of a shopping complex.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
LULU CENTER
Location : Al Rayyan
Road
PO Box : 9763
Town : Doha
Country : Qatar
Telephone : (974) 44324324
Facsimile : (974) 44363434
Email : info@luluhypermarket.com
Subject operates from a large suite of offices and a shopping complex
that are rented and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
· Airport Road Office
premises
Doha
Tel: (974) 44667780
Name Nationality Position
· Yousef Ali
Abdulqader Musailam Veettil Abdulqader Indian Managing Director
· Sheikh Hassan
Khalid Al Abdullah Qatari Director
Date of
Establishment : 27th
February 1999
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 21255, Doha
Chamber Member No. : 4573
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
· Yousef Ali
Abdulqader Musailam Veettil Abdulqader
· Sheikh Hassan
Khalid Al Abdullah
· Lulu Bahrain
Hypermarket SPC
Shop No. 273, Building No. 702
Road No. 5115
Block No. 351
PO Box: 21584
Manama
Bahrain
Tel: (973-17) 553555
Fax: (973-17) 550505
Activities: Engaged as owners and operators of a shopping complex.
Lulu Center is a three level department store with electronic items,
household goods, clothes, shoes,
suitcases, stationery, jewellery and personal care products.
Subject has a workforce of approximately 150 employees.
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.
·
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.62 |
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1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.