|
Report Date : |
06.10.2012 |
|
|
|
|
Tel. No.: |
44694019 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
|
|
Registered Office : |
Al Sadd Street PO Box 5007 Doha |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
|
|
Com. Reg. No.: |
6349/3, Doha |
|
|
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
|
|
Line of Business : |
Operation of a shopping mall and leasing of 105 retail boutique spaces |
|
|
|
|
|
|
No. of Employees : |
120 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 (31.03.2011) |
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 : ROYAL PLAZA
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1999
Commercial Registration Number : 6349/3, Doha
Invested Capital : QR 200,000
Total Workforce : 120
Activities : Operation of a shopping mall and leasing of 105 retail boutique spaces
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Awad Mohamed, Public Relations Manager
ROYAL PLAZA
Location : Al Sadd
Street
PO Box : 5007
Town : Doha
Country : Qatar
Telephone : (974) 44694019
/ 44130000
Facsimile : (974) 44131111
Mobile : (974)
44465540
Email : customerservice@royalplazadoha.com
Subject operates from a large suite of offices and a shopping mall that
are owned and located in the Central Business Area of Doha.
Name Position
· Hamad Abdullah
Jassim Al Thani Proprietor
· Zakaria Mohamed
Ali Abu Jaber General
Manager
· Gail Sangter Marketing
Manager
· Awad Mohamed Public
Relations Manager
· Sajjad Ahmed Financial
Controller
Date of
Establishment : 1999
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 6349/3, Doha
Invested Capital : QR 200,000
Mr Hamad Abdullah Jassim Al Thani is the sole proprietor of the
business.
· Merlin Trading and
Contracting
Doha
Activities: Engaged in the operation of a shopping mall and leasing of 105 retail
boutique spaces.
Subject has a workforce of 120 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.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.