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Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
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Name : |
KERALA FOOD CENTRE WLL |
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Registered Office : |
Gate No. 54, Street
No. 36, Industrial Area, P O Box 2867, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.10.1995 |
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Com. Reg. No.: |
12890, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
55 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 : KERALA FOOD CENTRE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2nd October 1995
Commercial Registration Number : 12890, Doha
Chamber Membership Number : 2756
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 55
Activities : Distributors of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
KERALA FOOD CENTRE
WLL
Registered &
Physical Address
Location : Gate No. 54
Street : Street No. 36
Area : Industrial Area
PO Box : 2867
Town : Doha
Country : Qatar
Telephone : (974) 44606044 / 44603103 / 44431535
Facsimile : (974) 44606857
Mobile : (974) 55507452 / 70405500
Email : kfcdoha@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Doha.
Name Nationality Position
·
Oladat
Abdullah Indian Managing Director
·
Ali
Abdullah Al Naser Qatari Director
·
Nazir
Khalil - Sales
Manager
·
Mohamed
Ashraf - Financial
Controller
·
Afzal
Hussain - Purchasing
Manager
Date of Establishment : 2nd
October 1995
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 12890, Doha
Chamber Member No. : 2756
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
·
Ali
Abdullah Al Naser 51%
·
Oladat
Abdullah 49%
·
Tamir Bin Ali Trading Co WLL
Doha
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: Europe and the
Far East.
International Suppliers:
·
S F Commodities Pakistan
·
Candidate Business International Pakistan
·
Jay Export India
·
Vindhy Export India
Operating Trend: Steady
Subject has a
workforce of 55 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 7,600,000 QR 8,150,000
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
·
United
Bank Ltd
PO Box: 242
Doha
Tel: (974) 44438666 / 44424900
Fax: (974) 44424600
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.54.27 |
|
UK Pound |
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
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 |
|
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.