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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AL AHED TRADING & CONTRACTING COMPANY WLL |
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Registered Office : |
Building No. 29,
Medium Road, Road No. 129, P O Box 3266, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.06.1975 |
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Com. Reg. No.: |
5944, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Import and
Distributors of Gas and Oilfield Equipment and Safety Products. |
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No. of Employees : |
18 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
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 : AL AHED TRADING &
CONTRACTING COMPANY WLL
Country of Origin : Qatar
Legal Form : With
Limited Liability - WLL
Registration Date : 7th
June 1975
Commercial
Registration Number : 5944,
Doha
Chamber Membership
Number : 260
Issued Capital : QR
12,000,000
Paid up Capital : QR
12,000,000
Total Workforce : 18
Activities :
Distributors of gas and oilfield equipment and safety products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
AL AHED TRADING
& CONTRACTING COMPANY WLL
Building : Building No. 29
Street : Medium Road, Road No. 129
PO Box : 3266
Town : Doha
Country : Qatar
Telephone : (974) 44414022 / 44414023 / 44414024
Facsimile : (974) 44414021
Email : alahed@qatar.net.qa / alahed@alahed.com.qa
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Doha.
Name Position
·
Mohamed
Abdul Ghani Al Mansouri Managing
Director
·
Jaber
Ahmed Al Sulaiti Director
·
B
Mendoza Commercial
Manager
·
Suresh
Nayk Financial
Controller
Date of Establishment : 7th
June 1975
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 5944, Doha
Chamber Member No. : 260
Issued Capital : QR 12,000,000
Paid up Capital : QR 12,000,000
Name of
Shareholder (s)
·
Mohamed
Abdul Ghani Al Mansouri
·
Jaber
Ahmed Al Sulaiti
·
Doha
Petroleum Construction Co
PO Box: 17474
Doha
Tel: (974) 44414023
Fax: (974) 44414021
Activities: Engaged
in the import and distribution of gas and oilfield equipment and safety
products.
Import
Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a
workforce of 18 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 31,500,000 QR 32,900,000
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.54.17 |
|
|
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
|
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.