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Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MIRAS TRADING AND MAINTENANCE |
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Registered Office : |
Street No. 2 Industrial Area PO Box 31602 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
17.12.2004 |
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Com. Reg. No.: |
28391, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distribution of building materials and electrical products as well as provision of building maintenance services |
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No. of Employees : |
28 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 : MIRAS TRADING AND MAINTENANCE
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 17th December 2004
Commercial Registration Number : 28391, Doha
Chamber Membership Number : 8602
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 28
Activities : Distribution of building materials and electrical products as well as provision of building maintenance services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MIRAS TRADING AND MAINTENANCE
Street : Street No. 2
Area : Industrial
Area
PO Box : 31602
Town : Doha
Country : Qatar
Telephone : (974) 44605517
Facsimile : (974) 44605513
Email : mirastrading@yahoo.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Doha.
Name Nationality Position
· Rashed Goul Miras
Khan Pakistani Managing
Director
· Saad Rashed Thamer
Al Homaidi Qatari Director
Date of
Establishment : 17th
December 2004
Legal Form : With Limited Liability
- WLL
Commercial Reg.
No. : 28391, Doha
Chamber Member No. : 8602
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Rashed Goul Miras
Khan
· Saad Rashed Thamer
Al Homaidi
Activities: Engaged in the import and distribution of building materials and
electrical products. Subject also provides building maintenance services.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 28 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
10,600,000 QR
11,000,000
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.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
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|
1 |
Rs.94.17 |
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Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.