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Report Date : |
23.08.2013 |
IDENTIFICATION DETAILS
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Name : |
FINEWAY INTERNATIONAL WLL |
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Registered Office : |
Street No. 4 Logistic Village Qatar, Industrial Area PO Box 30844 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
26.05.2010 |
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Com. Reg. No.: |
380638, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of foodstuffs, readymade garments and household products. |
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No. of Employees : |
15 |
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 grew sharply 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 6.6% 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 : FINEWAY INTERNATIONAL WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 26th May 2010
Commercial Registration Number : 380638, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 15
Activities : Distributors of foodstuffs, readymade garments and household products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Hajab Amir Eddine, General Manager
FINEWAY INTERNATIONAL WLL
Street : Street No. 4
Area : Logistic
Village Qatar, Industrial Area
PO Box : 30844
Town : Doha
Country : Qatar
Telephone : (974) 40119353
/ 33364214
Facsimile : (974) 40119354
Mobile : (974)
55115859 / 77899650 / 55565196
/ 77165625
Email : finewaydoha@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
· Mohamed Shad Ponnanta Brambath Indian Managing Director
· Sheikh Jassim Thamer Issa Jaber Al Thani Qatari Director
· Hajab Amir Eddine - General
Manager
· Omar Al Farooq - Sales
Manager
Date of
Establishment : 26th
May 2010
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 380638, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Mohamed Shad Ponnanta Brambath
· Sheikh Jassim Thamer Issa Jaber Al Thani
· Talal Foodstuff Packing
Industry
PO Box: 44175
Dubai
United Arab
Emirates
Tel: (971-4)
8841681
Fax: (971-4)
8841682
· Fineway
International Trading LLC
PO Box: 44175
Dubai
United Arab
Emirates
Tel: (971-4)
8840660
Fax: (971-4)
8840661
Activities: Engaged in the import and distribution of foodstuffs, readymade
garments and household products.
Import Countries: Europe and the Far East.
Subject has a workforce of 15 employees.
Companies registered in Qatar are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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.65.42 |
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|
1 |
Rs.102.09 |
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Euro |
1 |
Rs.87.32 |
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 |
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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.