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Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ABU ADEL ENGINEERING SERVICES |
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Registered Office : |
Street No. 15, Gate
No. 35, Salwa Industrial Area, P O Box 40541, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.07.1988 |
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Com. Reg. No.: |
1082, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Industrial mechanical, electrical & instrumentation contracting |
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No. of Employees : |
270 |
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 |
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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 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 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.
Source
: CIA
Company Name : ABU ADEL ENGINEERING SERVICES
Also Known As : A A ENGINEERING SERVICES
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1st July 1988
Commercial Registration Number : 1082, Doha
Invested Capital : QR 4,000,000
Total Workforce : 270
Activities : Industrial mechanical, electrical & instrumentation contracting.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ABU ADEL
ENGINEERING SERVICES
A A ENGINEERING SERVICES
Registered &
Physical Address
Street : Street No. 15, Gate No. 35
Area : Salwa Industrial Area
PO Box : 40541
Town : Doha
Country : Qatar
Telephone : (974) 44600235 / 44600350
Facsimile : (974) 44600237
Email : adel.hyder@aaes.net / aaes@qatar.net.qa
Premises
Subject operates
from a medium sized suite of offices, a workshop and warehousing that are owned
and located in the Industrial Area of Doha.
Name Position
·
Abdul Razzak
Adel Proprietor
& General Manager
·
Mahmoud Dirhalli Finance
Manager
·
Mohamed Al Hassan Technical
Manager
·
Abraham Mathew Service
Manager
Date of Establishment : 1st
July 1988
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1082, Doha
Invested Capital
: QR 4,000,000
Mr Abdul Razzak
Adel is the sole proprietor of the business.
·
Water
Flow Services Company WLL
PO
Box: 40541
Doha
Tel: (974) 44600235
Fax: (974) 44600237
·
Formapipe
International
PO Box: 40541
Doha
Tel: (974) 44810235
Activities: Engaged in industrial mechanical,
electrical & instrumentation contracting, as well as water and sewage works.
The company also imports and distributes industrial instrumentation, control panels, SCADA systems.
Subject also operates a metal fabrication shop, machine shops and electrical motor rewind and service
centre.
Import
Countries: Europe, United
States of America and Japan.
International
Suppliers:
·
Stroud Instruments Ltd United
Kingdom
·
IMI Fluidair Compressors United
Kingdom
·
British Rototherm (SSD) United
Kingdom
·
Albany Engineering United
Kingdom
·
Bailey Birkett United Kingdom
·
Wika Germany
· Schneider Electric SA France
· Jofra Ametek Denmark
·
Fuji Electric Co Ltd Japan
·
Preso United
States of America
Subject has a
workforce of approximately 270 employees.
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
International
Bank of Qatar
Suhaim Bin Hamad Street
PO Box: 2001
Doha
Tel: (974) 44473700
Fax: (974) 44473710
·
Arab
Bank Ltd
119 Grand Hammed Avenue
PO Box: 172
Doha
Tel: (974) 44387777
Fax: (974) 44410774
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box: 3232
Doha
Tel: (974) 44490000
Fax: (974) 44490070
No complaints
regarding subject’s payments have been reported.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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 |
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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 |
|
<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.