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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MALZAMAT QATAR WLL |
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Registered Office : |
Al Attiya Road, Between Street No. 11 & 12 Industrial Area PO Box
30272 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.05.2007 |
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Com. Reg. No.: |
3552, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of scaffolding and formwork accessories |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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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 : MALZAMAT QATAR WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 22nd May 2007
Commercial Registration Number : 3552, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 20
Activities : Distributors of scaffolding and formwork accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Taufeeque Ahmed, General Manager
MALZAMAT QATAR WLL
Street : Al Attiya
Road, Between Street No. 11 & 12
Area : Industrial
Area
PO Box : 30272
Town : Doha
Country : Qatar
Telephone : (974) 44504266
Facsimile : (974) 44502489
/ 44809028
Mobile : (974)
66715063
Email : info@malzamatqatar.com
/ malzamat@gmail.com
Please note that subject’s previous address was, Street No. 5,
Industrial Area, Doha.
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
· Moidu Sparammal Indian Managing
Director
· Hussain Saeed Al Hajiri Qatari Director
· Taufeeque Ahmed - General
Manager
· Mohamed Saleem - Sales
Manager
Date of
Establishment : 22nd May
2007
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 3552,
Doha
Membership No. : 1656
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Moidu Sparammal
· Hussain Saeed Al Hajiri
Activities: Engaged in the import and
distribution of scaffolding and formwork accessories, including tie rod wing
nuts, base plate water stoppers, base jacks, u head jacks, universal jacks,
scaffolding sets, cuplock systems,
fasteners, and tools.
Subject also offers scaffolding rental
services.
Import Countries: United States of America and India.
Operating Trend: Steady
Subject has a workforce of 20 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
1,575,000 QR
1,700,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Taufeeque Ahmed, General Manager
·
HSBC Bank Middle East
Abdullah Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
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.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
-- |
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.