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Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MAF HYPERMARKETS QATAR WLL (CARREFOUR) |
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Registered Office : |
Al Dafnaa Area, City
Centre Mall, P O Box 22340, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.07.1999 |
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Com. Reg. No.: |
21719, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Operators of hypermarkets |
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No. of Employees : |
700 |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 : MAF HYPERMARKETS QATAR WLL (CARREFOUR)
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 17th July 1999
Commercial Registration Number : 21719, Doha
Chamber Membership Number : 4902
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 700
Activities : Operators of hypermarkets
Financial Condition : Good
Payments : Nothing detrimental uncovered
Person Interviewed : Joji Mathews, Finance Manager
MAF HYPERMARKETS
QATAR WLL (CARREFOUR)
Registered &
Physical Address
Location : Al Dafnaa Area, City Centre Mall
PO Box : 22340
Town : Doha
Country : Qatar
Telephone : (974) 44846214 / 44846303
Facsimile : (974) 44835002
Email : jmathews@mafcarrefour.com
Premises
Subject operates
from a large suite of offices and a hypermarket that are rented and located in
the Central Business Area of Doha.
Branch Office (s)
Location Description
·
Land Mark Mall Showroom
premises
Doha
·
Vilajo Mall Showroom
premises
Doha
·
Laguna Mall Showroom
premises
Doha
·
Abu Hamra Area Showroom
premises
Doha
Name Position
·
Khalifa
Ali Khalifa Al Hedimi Managing
Director
·
David Samaya General
Manager
·
Joji Mathews Finance
Manager
Date of Establishment : 17th
July 1999
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 21719, Doha
Chamber Member No. : 4902
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
·
Khalifa
Ali Khalifa Al Hedimi 51%
·
Majid
Al Futtaim Hypermakets Co 49%
Dubai
United Arab Emirates
Activities: Engaged as operators of hypermarkets,
specialising in the retail of general foodstuffs, household items, textiles and electrical products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of approximately 700 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 1,050,000,000 QR 1,200,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Joji Mathews,
Finance Manager
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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.53.12 |
|
UK Pound |
1 |
Rs.85.15 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.