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Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
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Name : |
HASSAD FOOD COMPANY QSC |
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Registered Office : |
Qatar Navigation Building Corniche Al Doha PO Box 25566 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
02.06.2008 |
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Com. Reg. No.: |
29722, Doha |
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Legal Form : |
Qatari Shareholding Company - QSC |
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Line of Business : |
Operators of a food security programme |
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No. of Employees : |
300 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Qatar |
A2 |
A2 |
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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.
Source
: CIA
Company Name : HASSAD FOOD COMPANY QSC
Country of Origin : Qatar
Legal Form : Qatari Shareholding Company - QSC
Registration Date : 2nd June 2008
Commercial Registration Number : 29722, Doha
Chamber Membership Number : 16745
Issued Capital : QR 100,000,000
Paid up Capital : QR 100,000,000
Total Workforce : 300
Activities : Operators of a food security programme
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Khalid Radi, Finance Manager
HASSAD FOOD COMPANY QSC
Building : Qatar
Navigation Building
Area : Corniche Al
Doha
PO Box : 25566
Town : Doha
Country : Qatar
Telephone : (974) 44079292
Facsimile : (974) 44079294
/ 44079293
Email : info@hassad.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Name Position
· Nasser Mohamed Al
Hajiri Chief
Executive Officer
· Andrew Goodman Operations Manager
· Khalid Radi Finance
Manager
Date of
Establishment : 2nd
June 2008
Legal Form : Qatari
Shareholding Company - QSC
Commercial Reg.
No. : 29722, Doha
Chamber Member No. : 16745
Issued Capital : QR 100,000,000
Paid up Capital : QR 100,000,000
· Qatar Holding Co 100%
Doha
Tel: (974)
44995900
· Roza Hassad
Doha
· NAFCO
Doha
· QATFA
Doha
· Hassad Australia
Sydney
Australia
· Hassad Sudan
Sudan
Activities: Engaged as operators of a food security programme.
Subject has a workforce of approximately 300 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.
·
Qatar National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974)
44415020
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.03 |
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|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.