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Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
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Name : |
QATAR CHEMICAL
AND PETROCHEMICAL MARKETING AND DISTRIBUTION COMPANY (MUNTAJAT) |
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Registered Office : |
Al Dana Tower,
West Bay, P O Box 24445, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.12.2012 |
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Com. Reg. No.: |
57121 |
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Legal Form : |
Qatari Joint Stock Company |
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Line of Business : |
Marketing of petroleum, petrochemical, polymer and fertilizer products. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 non associated 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 : QATAR CHEMICAL AND PETROCHEMICAL MARKETING AND
DISTRIBUTION COMPANY (MUNTAJAT)
Country of Origin : Qatar
Legal Form : Qatari Joint Stock Company
Registration Date : 1st December 2012
Commercial Registration Number : 57121
Chamber Membership Number : 29951
Issued Capital : QR 365,000,000
Paid up Capital : QR 365,000,000
Total Workforce : 120
Activities : Marketing of petroleum, petrochemical, polymer and fertilizer products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
QATAR CHEMICAL AND
PETROCHEMICAL MARKETING AND DISTRIBUTION COMPANY (MUNTAJAT)
Registered &
Physical Address
Building : Al Dana Tower
Area : West Bay
PO Box : 24445
Town : Doha
Country : Qatar
Telephone : (974) 40132574
Facsimile : (974) 40139140
Email : info@muntajat.qa
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
Name Position
·
Dr Mohammed
Bin Saleh Al Sada Chairman
·
Abdulrahman
Ahmad Al Shaibi Vice
Chairman
·
Abdulrahman
Ali Al Abdulla Director
·
Saad
Abdulla Al Kuwari Director
·
Ali
Nasser Telfat Director
·
Rafic
Naamani Marketing
Manager
·
Yousef
Jeham Al Kuwari Sales
Manager
·
Dr Mark
Betts Operations
Manager
·
Robert
W F Chouffot Planning
Manager
Date of Establishment : 1st
December 2012
Legal Form :
Qatari Joint Stock Company
Commercial Reg. No. : 57121
Chamber Member No. : 29951
Issued Capital : QR 365,000,000
Paid up Capital : QR 365,000,000
Name of Shareholder
(s) Percentage
·
Government
of Qatar 100%
Activities: Engaged in the marketing of petroleum, petrochemical,
polymer and fertilizer products.
Muntajat is set to
become the face of Qatar in the international chemicals and petrochemicals
market. The
new company will
consolidate chemical and petrochemical marketing and distribution efforts into
a single
entity to provide adroitness in doing business and better serve global demands.
Within 3 months of its launch Muntajat has become responsible for exporting 68.8% in volume of Qatar’s
chemical and petrochemical products.
Subject has a workforce of 120 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
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 |
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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 |
|
<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.