MIRA INFORM REPORT

 

 

Report Date :

06.12.2013

 

IDENTIFICATION DETAILS

 

Name :

SPECIALIZED MARBLE & GRANITE WLL

 

 

Registered Office :

Street No. 39, Gate No. 78 Industrial Area PO Box 23075 & 17750 Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

24.10.2004

 

 

Com. Reg. No.:

26694, Doha

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Import, distribution, cutting, processing and installation of marble and granite.

 

 

No. of Employees :

450

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

SUMMARY

 

Company Name                                     : SPECIALIZED MARBLE & GRANITE WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 24th October 2004

Commercial Registration Number            : 26694, Doha

Membership Number                              : 7519

Issued Capital                                        : QR 500,000

Paid up Capital                                      : QR 500,000

Total Workforce                                     : 450

Activities                                               : Distribution, cutting, processing and installation of marble and granite.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Thomas Varghese, Finance Manager

 

 

 

 

COMPANY NAME

 

SPECIALIZED MARBLE & GRANITE WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Street No. 39, Gate No. 78

Area                 : Industrial Area

PO Box             : 23075 & 17750

Town                 : Doha

Country             : Qatar

 

Telephone         : (974) 44604307 / 44689216

Facsimile          : (974) 44501525 / 44505414

Mobile               : (974) 55575973

Email                : agmco@qatar.net.qa

 

Premises

 

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Doha.

 

Branch Offices

 

     Location                                                                                                       Description

 

·       Salwa Road                                                                                                  Office premises

Doha

Tel: (974) 44683868 / 44683364 / 44683347

Fax: (974) 44683364

 

 

KEY PRINCIPALS

 

     Name                                                                       Nationality                     Position

 

·       Abdullah Khalaf Mansour Al Kaabi                                Qatari                         Managing Director

 

·       James K Chako                                                          Indian                          Director

 

·       P T Philip                                                                       -                             General Manager

 

·       Thomas Varghese                                                           -                             Finance Manager

 

·       Edwin Vijaya Kumar                                                        -                             Project Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 24th October 2004

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 26694, Doha

 

Chamber Mem No.       : 7519

 

Issued Capital              : QR 500,000

 

Paid up Capital            : QR 500,000

 

Name of Shareholder (s)

 

·       Abdullah Khalaf Mansour Al Kaabi

 

·       James K Chako

 

 

AFFILIATED COMPANIES

 

·       Specialised Aluminium & Steel Co WLL

PO Box: 17750

Doha

Tel: (974) 44606580

 

·       Specialized Trading & Contracting Co WLL

Doha

Tel: (974) 44506278

 

·       Imperial Trading & Contracting WLL

PO Box: 23665

Doha

Tel: (974) 44684437

 

·       Dallas Glass Tempering Factory WLL

Doha

Tel: (974) 44114656

 

·       Alubond Qatar WLL

Doha

Tel: (974) 44501133

 

·       Arabian Auto Spare Parts WLL

Doha

Tel: (974) 44686730

 

·       Big J Events WLL

Doha

Tel: (974) 44681778

 

·       Cyber Micro Solution Technologies WLL

Doha

Tel: (974) 44691435

 

·       Continental Trading & Contracting Co WLL

Doha

Tel: (974) 44684644

 

·       Express Printing Press WLL

Doha

Tel: (974) 44681790

 

·       Global Rent A Car WLL

Doha

Tel: (974) 44694747

 

·       Imperial Flavors WLL

Doha

Tel: (974) 44684437

 

·       Kalabhavan Qatar School of Music & Arts WLL

Doha

Tel: (974) 44662980

 

·       Nafal Qatar WLL

Doha

Tel: (974) 44682747

 

·       Dorspec WLL

Doha

Tel: (974) 44694747

 

·       New Ceramic Co WLL

Doha

Tel: (974) 44504048

 

·       Qatar Indo Fabs WLL

Doha

Tel: (974) 44907104

 

·       Specialized Cladding & Neon WLL

Doha

Tel: (974) 44602296

 

·       Arabnet Qatar WLL

Doha

Tel: (974) 44694747

 

·       Hotel Crystal Palace WLL

Doha

Tel: (974) 44373331

 

·       KM Maintenance & Services Co WLL

Doha

Tel: (974) 44694747

 

·       Imperial Auto Tech WLL

Doha

Tel: (974) 44514043

 

·       Specialized Medical Solutions WLL

Doha

Tel: (974) 44510440

 

 

OPERATIONS

 

Activities: Engaged in the import, distribution, cutting, processing and installation of marble and granite.

 

Import Countries: Italy, Spain, Brazil, India, China, Oman, Greece, Saudi Arabia, Turkey and Egypt.

 

Clients:

 

·       United Development Co (UDC)

·       Construction Development Co (CDC)

 

Subject has a workforce of approximately 450 employees.

 

 

FINANCIAL DATA

 

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 19,370,000                          QR 22,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Thomas Varghese, Finance Manager who also stated that the figure for the period 01/01/2013 to 30/11/2013 was QR 12,000,000.

 

 

BANKERS

 

·       Al Ahli Bank of Qatar (QSC)

PO Box: 2309

Doha

Tel: (974) 44326611

Fax: (974) 44444652

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.61.69

UK Pound

1

Rs.101.08

Euro

1

Rs.84.07

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.