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Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
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Name : |
Q STAR TRADING CO WLL |
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Registered Office : |
Al Wasil Petrol Station Street PO Box 31291 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
12.01.2008 |
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Com. Reg. No.: |
40847, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and distribution of disposable aluminium and paper packaging
and containers |
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No. of Employees : |
21 |
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 |
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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 : Q STAR TRADING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 12th January 2008
Commercial Registration Number : 40847, Doha
Chamber Membership Number : 17640
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 21
Activities : Distributors of disposable aluminium and paper packaging and containers
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Q STAR TRADING CO WLL
Location : Al Wasil
Petrol Station Street
PO Box : 31291
Town : Doha
Country : Qatar
Telephone : (974) 44860174
Facsimile : (974) 44875230
Mobile : (974)
55750503 / 66671999
Email : qstardoha@gmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
· Abdullah Ahmed Abu
Najem Al Sulaiti Qatari Managing
Director
· Faisal
Kakkzhuyulla Parambath Indian Director
· Kalouth Shanavas Indian Director
Date of
Establishment : 12th
January 2008
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 40847, Doha
Chamber Member No. : 17640
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Abdullah Ahmed Abu
Najem Al Sulaiti
· Faisal
Kakkzhuyulla Parambath
· Kalouth Shanavas
· Aliya Restaurants
WLL
Doha
CR No. 40847/1
Activities: Engaged in the import and distribution of disposable aluminium and paper
packaging and containers.
Import Countries: Europe and the Far East
Brand Names: QPAC
Operating Trend: Steady
Subject has a workforce of 21 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
13,165,000 QR
13,680,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Banque Paribas
PO Box: 2636
Doha
Tel: (974) 44430346 / 44430344
Fax: (974)
44430121
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
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 |
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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.