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Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
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Name : |
QUALITY ENGINEERING & SERVICES WLL |
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Registered Office : |
Street No. 25, Gate
No. 91, Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.05.2006 |
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Com. Reg. No.: |
50733, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engineering contractors and providers of services for
steel fabrication |
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No. of Employees : |
150 employees |
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 |
|
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 : QUALITY ENGINEERING & SERVICES WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 17th May 2006
Commercial Registration Number : 50733, Doha
Membership Number : 25999/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 150
Activities : Engineering contractors and providers of services for steel fabrication
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
QUALITY ENGINEERING
& SERVICES WLL
Registered &
Physical Address
Location : Street No. 25, Gate No. 91
Area : Industrial Area
PO Box : 9130
Town : Doha
Country : Qatar
Telephone : (974) 44500701 / 44500901 / 44506898
/ 44506960
Facsimile : (974) 44506195
Email : info@qesqatar.com / qesqatar@gmail.com
Premises
Subject operates from
a large suite of offices and a workshop that are rented and located in the
Industrial Area of Doha.
Branch Offices
Location Description
·
Al
Hilal Street Office
premises
Doha
Tel: (974) 44419190
Fax: (974) 44418190
Name Nationality Position
·
Shams Uddine Olagara Indian Managing
Director
·
Ibrahim Abdullah Al Maliki Qatari Director
·
Thomas George - Operations
Manager
·
Mins
Mathews - Finance
Manager
Date of Establishment : 17th
May 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 50733, Doha
Membership
No. : 25999/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
·
Ibrahim Al Maliki 51%
·
Shams Uddine Olagara 49%
·
Quality Food & Services WLL
Doha
·
Qatar Food & Services WLL
Doha
·
Middle East Importer WLL
Doha
·
Creative
Advertising WLL
Doha
·
Qatar
Modern Transport WLL
Doha
·
Quality
Management Services WLL
Doha
·
Quality
Hydraulic Services WLL
Doha
·
Quality Central Department Stores WLL
Doha
·
Quality Printing Press WLL
Doha
·
Quality Hypermarkets WLL
Doha
Activities: Engaged as engineering contractors and providers
of services for steel fabrication.
Industrial Fabrication & Product
Examples:
Import
Countries: India and China
Clients:
·
Bilfinger
Berger
·
Byrne
·
Chec
·
Gac
·
Gulf
Drilling International
·
KPS
·
Leighton
·
Lodige
Systems
·
Euro Technology
·
Mowasalat
·
Prysmian
·
Punj
Lloyd
·
QDVC
·
Six
Construct
·
Strabag
·
Terna
·
Thyssen
Krupp
·
Weatherford
Operating Trend: Steady
Subject has a
workforce of 150 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 11,650,000 QR 13,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
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.54.17 |
|
UK Pound |
1 |
Rs.86.83 |
|
Euro |
1 |
Rs.69.85 |
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 |
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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 |
|
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 |
|
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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.