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Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ABDUL HUSSAIN MOHAMED KHOORY STORE |
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Registered Office : |
Souq Street, Shop
No. 17-22, Souq Aseer, P O Box 175 & 775, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
23.04.1992 |
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Com. Reg. No.: |
4866, Doha |
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Legal Form : |
General Partnership |
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Line of Business : |
operators of supermarkets specialising in the wholesale and retail of general foodstuff products, including rice, cereals, pasta, jelly, caramel, olives, olive oil, tea, flour, honey, and canned food |
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No. of Employees : |
45 |
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 |
|
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 : ABDUL HUSSAIN MOHAMED KHOORY STORE
Country of Origin : Qatar
Legal Form : General Partnership
Registration Date : 23rd April 1992
Commercial Registration Number : 4866, Doha
Chamber Membership Number : 714/3
Partners Capital : QR 200,000
Total Workforce : 45
Activities : Operators of supermarkets specialising in the wholesale and retail of
general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sadeq Abdullah Mohamed Ahmed Khoory, Sales Manager
ABDUL HUSSAIN
MOHAMED KHOORY STORE
Registered &
Physical Address
Street : Souq Street, Shop No. 17-22
Area : Souq Aseer
PO Box : 175 & 775
Town : Doha
Country : Qatar
Telephone : (974) 44416126 / 44606484 / 44419113
/ 44413632
Facsimile : (974) 44440030
Mobile : (974) 55112669
Email : khoory@qatar.net.qa
Premises
Subject operates
from a medium sized suite of offices and a supermarket that are owned and
located in the Central Business Area of Doha.
Branch Office (s)
Location Description
·
Doha Wholesale Market Rented
supermarket premises
Doha
Tel: (974) 44919113
·
Doha Industrial Area Rented
supermarket premises
Doha
Tel: (974) 44606484
Fax: (974) 44606477
Name Position
·
Abdul
Hussain Mohamed Khoory Managing
Partner
·
Abdullah Mohamed Ahmed Khoory Partner
·
Mohamed Abdullah Mohamed Ahmed Khoory General Manager
·
Abdullah Abdullah Mohamed Ahmed Khoory Assistant
General Manager
·
Sadeq Abdullah Mohamed Ahmed Khoory Sales
Manager
Date of Establishment : 23rd
April 1992
Legal Form :
General Partnership
Commercial Reg. No. : 4866, Doha
Chamber Member No. : 714/3
Partners Capital : QR 200,000
Name of Partner (s)
·
Abdul
Hussain Mohamed Khoory
·
Abdullah Mohamed Ahmed Khoory
·
Abdul Hussain
Mohamed Khoory & Partner WLL
PO Box: 175 & 775
Doha
Tel: (974) 4416126 / 4606484 / 4419113
Fax: (974) 4440030
CR No. 299
Activities: Engaged as operators of supermarkets
specialising in the wholesale and retail of general foodstuff
products, including rice, cereals, pasta, jelly, caramel, olives, olive oil, tea, flour, honey, and canned food.
Import
Countries: United Kingdom,
Spain, France, India and Thailand
International
Suppliers:
·
Quaker Oats United
Kingdom
·
Crespo Olive Spain
·
Cipa France
·
Kohinoor Basmati Rice India
·
Golden Phoenix Thailand
Brand Names: QUAKER, CRESPO, SIPA, GREEN’S, ROYAL ELEPHANT, RED SUN, IMPERIAL TASTE,
KOHINOOR, XL, & QUEEN
Operating Trend: Steady
Subject has a
workforce of 45 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 15,000,000 QR 16,110,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
United
Bank Ltd
PO Box: 242
Doha
Tel: (974) 4438666 / 4424900
Fax: (974) 4424600
No complaints regarding
subject’s payments have been reported.
Amount overdue 0 0
Payment terms 60
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
<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.