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Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
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Name : |
DEIMAJ GROUP WLL |
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Registered Office : |
Moosa Bin Nossair
Street, New Doha Area, P O Box 19658, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
2001 |
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Com. Reg. No.: |
25992, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject operates through several divisions include :- l General Trading Division l Supermarket Division l Stationery Division l Tailoring Division l Media Division |
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No. of Employees : |
48 |
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 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.
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Source : CIA |
Company Name : DEIMAJ GROUP WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2001
Commercial Registration Number : 25992, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 48
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Murli Dharren, General Manager
DEIMAJ GROUP WLL
Registered &
Physical Address
Street : Moosa Bin Nossair Street
Area : New Doha Area
PO Box : 19658
Town : Doha
Country : Qatar
Telephone : (974) 44322840
Facsimile : (974) 44321926
Mobile : (974) 33512054
Email : deimaj@qatar.net.qa / deimajgroup@gmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Suburban Business Area of Doha
Name Nationality Position
·
Edakulathoor
Itoop Johnson Indian Managing Director
·
Hamad
Ibrahim Al Mana Qatari Director
·
Murli
Dharren - General
Manager
·
N Peter - Administration
Manager
Date of Establishment : 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 25992, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of Shareholder
(s) Percentage
·
Hamad
Ibrahim Al Mana 51%
·
Edakulathoor
Itoop Johnson 49%
Activities: Subject’s activities are performed through
the following divisions:
·
General
Trading Division
Engaged
in the import and distribution of household items, cosmetics and general
foodstuff products.
·
Supermarket
Division
Operators of three supermarkets
located throughout Doha.
·
Stationery
Division
Engaged in the import and distribution of
stationery products.
·
Tailoring
Division
Engaged in the provision of tailoring
services and textile trading.
·
Media
Division
Engaged in the provision of Indian movie channels and agents.
Import
Countries: Europe and the
United States of America
International
Suppliers:
·
Hotscold Germany
·
Carmalat Italy
·
Irish
Dairy Board Republic of Ireland
Brand Names: JEEVAN TV CHANNELS
Operating Trend: Steady
Subject has a
workforce of 48 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 20,320,000 QR 20,700,000
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)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax:
(974) 44438182
·
Qatar National
Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
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.64.23 |
|
UK Pound |
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.85.93 |
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 |
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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 |
|
<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.