|
Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SALCO TRADING & CONTRACTING ESTABLISHMENT |
|
|
Registered Office : |
Industrial Area, Street No. 25, Gate |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
|
|
Year of Establishment : |
1965 |
|
|
|
|
|
|
Com. Reg. No.: |
5326, Doha |
|
|
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
|
|
Line of Business : |
Import and distribution of sanitary ware products, fittings, copper tubes, plumbing and building materials. |
|
|
|
|
|
|
No. of Employees : |
50 |
|
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 : SALCO TRADING & CONTRACTING ESTABLISHMENT
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1965
Commercial Registration Number : 5326, Doha
Invested Capital : QR 100,000
Total Workforce : 50
Activities :
Import and distribution of sanitary
ware products, fittings, copper tubes,
plumbing and building materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Susu Kumar, Sales Manager
SALCO TRADING & CONTRACTING ESTABLISHMENT
Location : Industrial
Area, Street No. 25, Gate No. 135
PO Box : 992
Town : Doha
Country : Qatar
Telephone : (974) 44411410 /
44445220
Facsimile : (974) 44425859
Mobile : (974)
55870503 / 55822530
Email : info@salcoqatar.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Doha.
Branch Offices
Location Description
· Al Mansoura Street Showroom
premises
Najma Area
Doha
Tel: (974) 44411410
· Brawa Street Showroom premises
Doha
Tel: (974) 44633063
· Old Salata Road Showroom
premises
Doha
Tel: (974) 44412722
· Souq Al Heraj Showroom
premises
Doha
Tel: (974) 44371040
Name Position
· Yousef Abdullah Al Salehi Proprietor
& General Manager
· Noyal Thereppel Assistant
General Manager
· Susu Kumar Sales
Manager
Date of
Establishment : 1965
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 5326, Doha
Invested Capital : QR 100,000
Mr Yousef Abdullah Al
Salehi is the sole proprietor of the business.
Activities: Engaged in the import and distribution
of sanitary ware products, fittings, copper tubes, plumbing and
building materials.
Import Countries: India and China
Brand Names: IPLEX, YORKSHIRE,
CONNEX, PEGLER, GROHE and TUBEFLEX
Operating Trend: Steady
Subject has a workforce of 50 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
42,600,000 QR
48,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Susu Kumar, Sales Manager
·
Doha Bank Ltd
Salwa Road
PO Box: 2176
Doha
Tel: (974) 44882180 / 44884888 / 44882181
Fax: (974) 44881768
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
|
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.69.74 |
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.