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Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
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Name : |
CITY CENTER DOHA |
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Registered Office : |
Diplomatic
District, West Bay Area, P O Box 22477, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
15.04.2001 |
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Com. Reg. No.: |
23245/9 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Operators of a shopping mall |
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No. of Employees : |
180 |
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 |
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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 : CITY CENTER DOHA
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 15th April 2001
Commercial Registration Number : 23245/9
Issued Capital : QR 10,000,000
Paid up Capital : QR 10,000,000
Total Workforce : 180
Activities : Operators of a shopping mall
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ms Sara Al Haji, Legal Affairs Manager
CITY CENTER DOHA
Registered &
Physical Address
Location : Diplomatic District, West Bay Area
PO Box : 22477
Town : Doha
Country : Qatar
Telephone : (974) 44839990
Facsimile : (974) 44839991
Email : info@citycenterdoha.com
Premises
Subject operates
from a medium sized suite of offices and a shopping mall that are owned and located
in the Central Business Area of Doha.
Name Position
·
Olaf Kint Managing
Director
·
Amer Sandawi General
Manager
·
Daniel Schwigel Operations
Manager
·
Zarrar Bin Khalid Finance
Manager
·
Shahid Hafeez Safety Manager
·
Ms Annahitta Motevali Sales
Co-ordinator
·
Ms Sara Al Haji Legal
Affairs Manager
Date of Establishment : 15th
April 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 23245/9
Issued Capital : QR 10,000,000
Paid up Capital : QR 10,000,000
Name of Shareholder (s) Percentage
·
Aamal Company QSC 100%
Doha
Tel: (974) 44422388
Activities: City Center Doha is considered the largest mall
in Qatar with 300,000 m2 total build area and 120,000 m2 lease able areas with
variety of famous international, regional, and local retail brands and
services, spread across five floors. City Center landmarks the shopping scene,
being the leading retail and leisure destinations in Qatar. Anchor stores
include Carrefour, Home Centre, Debenhams, Grand Cine Centre, and Fun City.
Over 1,600 car parks are available for visitors.
City Center Doha features a range of family
entertainment venues; 14 screen Cinema complex, Fun City, Ice
Skating Rink & Bowling Yard. City Center Doha welcomes daily an average
of 45,000 visitors and up to 70,000 on peak days like public holidays.
Subject is managed
by ECE Projecktmanagment since 2004; ECE is the European market leader in the
field of inner city Shopping Center.
Subject has a
workforce of approximately 180 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.
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
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 |
|
US Dollar |
1 |
Rs.52.21 |
|
UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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.