|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
CASTLE FOR BUILDING MATERIALS |
|
|
|
|
Registered Office : |
Street No. 30, Gate No. 72 Industrial Area PO Box 15756 Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.08.2004 |
|
|
|
|
Com. Reg. No.: |
287765 |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Distribution of building materials |
|
|
|
|
No. of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : CASTLE FOR BUILDING MATERIALS
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 19th August 2004
Commercial Registration Number : 287765
Chamber Membership Number : 8838
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 13
Activities : Distribution of building materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Akram Al Attar, Accountant
CASTLE FOR BUILDING MATERIALS
Street : Street No.
30, Gate No. 72
Area : Industrial
Area
PO Box : 15756
Town : Doha
Country : Qatar
Telephone : (974) 44504959
/ 44114597 / 55859348 / 55846998
Facsimile : (974) 44504957
/ 44114598
Email : info@castlemba.com
/ castle.mba@gmail.com
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
· Samir Ahmed Hassan Egyptian Managing Director
· Sadiq Faraj
Abdullah Qatari Director
· Naseem Al Asmar - Sales
Manager
· Akram Al Attar - Accountant
Date of
Establishment : 19th
August 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 287765
Chamber Member No. : 8838
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Samir Ahmed Hassan
· Sadiq Faraj
Abdullah
· Modern Accessories
Factory
Doha
Activities: Engaged in the import and distribution of building materials.
Import Countries: India, China, Japan and the United States of
America
Operating Trend: Steady
Subject has a workforce of 13 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
1,690,000 QR
1,850,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were provided by Akram Al Attar, Accountant.
·
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.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
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.