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Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
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Name : |
TECHNICAL
SUPPLIES & SERVICES WLL |
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Registered Office : |
Petrofac Building, (C) Ring Road, 24770 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
20.11.2005 |
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Com. Reg. No.: |
31662, Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Distributors of industrial machinery, structural steel, safety equipment, hand and power tools, cleaning equipment, welding items, scaffolding and formwork accessories |
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No. of Employees : |
35 |
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 |
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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. Throughout the financial crisis Qatari
authorities sought to protect the local banking sector with direct investments
into domestic banks. GDP had 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. GDP slowed to 6.3% in 2012 as Qatar's gas sector expansion
moved toward completion. 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 have made Qatar the world's highest per-capita income country 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, light rail system, and the Qatar-Bahrain
causeway. The Hamad International Airport is projected to open by the end of
2013 with an annual passenger capacity of 24 million
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Source : CIA |
Company Name : TECHNICAL SUPPLIES
& SERVICES WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 20th
November 2005
Commercial
Registration Number : 31662,
Doha
Membership Number : 10758
Issued Capital : QR
1,000,000
Paid up Capital : QR
1,000,000
Total Workforce : 35
Activities :
Distributors of industrial machinery, structural steel, safety equipment, hand
and power tools, cleaning equipment, welding items, scaffolding and formwork accessories
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Senad
Abdul Karim Kahlid, Sales Manager
TECHNICAL SUPPLIES
& SERVICES WLL
Building : Petrofac Building
Street :
(C) Ring Road
PO Box : 24770
Town : Doha
Country : Qatar
Telephone : (974) 44638777 / 44439898
Facsimile : (974) 44437676
Mobile : (974) 55862235
Email : info@tssqatar.com / tss@qatar.net.qa /karim@tssqatar.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Branch Offices
Location Description
·
Saliya Warehouse premises
Doha
Tel: (974) 44902204
Fax: (974) 44901928
·
Street
No. 24, Gate 257 Workshop
premises
Industrial Area
Doha
Tel: (974) 44697269
Fax: (974) 44693071
·
HBK
Signal Showroom
premises
Doha
Tel: (974) 44435839
Name Nationality Position
·
Xavy
Thekkath Indian Chairman
·
Rony
Paul Indian Managing
Director
·
Ibrahim
Adbulla Ali Akbar Al Emadi Qatari Director
·
John Philip - General
Manager
·
Venod Kumar - Chief
Financial Officer
·
Senad Abdul Karim Kahlid
- Sales
Manager
Date of Establishment : 20th
November 2005
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 31662, Doha
Membership
No. : 10758
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of Shareholder
(s) Percentage
·
Ibrahim
Adbulla Ali Akbar Al Emadi 51%
·
Xavy
Thekkath ]
] 49%
·
Rony
Paul ]
Activities: Engaged in the import and distribution of
industrial machinery, structural steel, safety equipment, hand and power tools,
cleaning equipment, welding items, scaffolding and formwork accessories.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a workforce
of 35 employees.
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales QR 13,725,000 QR 14,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
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.54.32 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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 |
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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.