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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MILES AND MORE TRADING WLL |
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Registered Office : |
Shop No. 2, Building
11, Barwa Village, P O Box 31798, Al
Wakra |
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Country : |
Qatar |
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Date of Incorporation : |
01.11.2012 |
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Com. Reg. No.: |
51275/2 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuffs and dried food |
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No. of Employees : |
03 |
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 Business |
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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. 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 : MILES AND MORE TRADING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st November 2012
Commercial Registration Number : 51275/2
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 3
Activities : Distributors of general foodstuffs and dried food
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MILES AND MORE
TRADING WLL
Registered &
Physical Address
Location : Shop No. 2, Building 11, Barwa
Village
PO Box : 31798
Town : Al Wakra
Country : Qatar
Mobile : (974) 30019282
Email : milesmoreqatar@gmail.com / mailtinogeorge@gmail.com
Premises
Subject operates
from a small suite of offices and a shop that are rented and located in the Central
Business Area of Al Wakra.
Name Nationality Position
·
Tino
George Indian Managing
Director
·
Sheikh
Jassim Thamer Al Thani Qatari Director
Date of Establishment : 1st
November 2012
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 51275/2
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Tino
George
·
Sheikh
Jassim Thamer Al Thani
Activities: Engaged in the import and distribution of
general foodstuffs and dried food.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 3 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.54.30 |
|
UK Pound |
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
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 |
|
---- |
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.