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Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SUNRISE INTERNATIONAL WLL |
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Registered Office : |
Salwa Road, P O
Box 55905, Doha |
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Country : |
Qatar |
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Year of Establishments: |
1986 |
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Com. Reg. No.: |
51150 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s operations are performed through the following divisions :- · Trading Division · Transport Division · Maintenance Division |
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No. of Employees : |
95 |
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.
|
Source : CIA |
Company Name : SUNRISE INTERNATIONAL WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1986
Commercial Registration Number : 51150
Chamber Membership Number : 25178
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 95
Activities : Subject operates 3 divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SUNRISE INTERNATIONAL
WLL
Registered &
Physical Address
Location : Salwa Road
PO Box : 55905
Town : Doha
Country : Qatar
Telephone : (974) 44501030
Facsimile : (974) 44501040
Mobile : (974) 55577825
Email : admin@sunrisegroupintl.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Rama Krishnan Kadampote Indian Managing
Director
·
Viswanadhan Kadampote Indian Director
·
Hamd Owaida S. A. Al Ahbabi Qatari Director
·
Venu Visgwan - Administration
Manager
·
Gijim P. Kadam - Financial
Controller
Date of Establishment : 1986
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 51150
Chamber Member No. : 25178
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Rama Krishnan Kadampote
·
Viswanadhan Kadampote
·
Hamd Owaida S. A. Al Ahbabi
Activities: Subject’s operations are performed through
the following divisions:
· Trading Division
Engaged
in the import and distribution of building materials and industrial equipment.
· Transport Division
Engaged
in the provision of transportation services and equipment hire.
· Maintenance Division
This
division specialises in civil, electrical and mechanical contracting services.
Import
Countries: India, China and
Germany
Subject has a workforce
of 95 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.
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
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.67.71 |
|
UK Pound |
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
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 |
|
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.