|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
QATAR ALUMINIUM LIMITED CO |
|
|
|
|
Registered Office : |
Al |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
March 2006 |
|
|
|
|
Com. Reg. No.: |
36539 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the production of aluminium |
|
|
|
|
No. of Employees : |
1,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
Company Name : QATAR ALUMINIUM LIMITED CO
Also Known As : QATALUM
Country of Origin : Qatar
Legal Form : Limited Liability Company
Registration Date : March 2006
Commercial Registration Number : 36539
Membership Number : 14292
Issued Capital : QR 50,000,000
Paid up Capital : QR 50,000,000
Total Workforce : 1,000
Activities : Producers of aluminium.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
QATAR ALUMINIUM LIMITED CO
QATALUM
Building : Al Wakra
Tower, 8th Floor
Street : C Ring Road
Area : Mesaieed
Industrial City
PO Box : 23086
Town : Doha
Country : Qatar
Telephone : (974) 44413136
/ 44031111 / 44031356 / 44999333
Facsimile : (974) 44435187
/ 44030820 / 44999399
Subject operates from a large suite of offices that are rented and
located in the Industrial Area of Doha.
Name Position
· Tom Petter
Johansen Chief
Executive Officer
· Khalid Mohammed Laram Deputy CEO
· Jan Peterlic Operations
Manager
· Jan Oyri Business
Support Manager
· Preben
Bruun-Nyzell Chief
Finance Officer
· Ahmed Salem Ahmed
Al Kuwari Administration
Manager
· Steve Davison Plant
Manager
· Pal Vigeland Cast
House Manager
· Roald Holten Reduction
Manager
· Andrew Robbins Carbon
Manager
· Kurt Jan Nilsson Technical
Manager
· Ibrahim J Fakhri Public
Relations Manager
Date of
Establishment : March 2006,
however production did not begin until 2010.
Legal Form : Limited Liability
Company
Commercial Reg. No. :
36539
Membership No. :
14292
Issued Capital : QR 50,000,000
Paid up Capital : QR 50,000,000
· Qatar Petroleum Corporation 50%
Doha
· Norsk Hydro ASA 50%
Norway
Activities: Engaged in the production of aluminium.
Subject produces 585,000 tons of high-quality primary aluminium products
per annum from twin 1.2
kilometre potlines. Qatalum’s complex facilities include a carbon plant,
port and storage facilities, as
well as a captive power plant.
All of Qatalum's production is shipped in the form of value-added,
alloyed cast house products. The
extrusion ingot cast house will have a capacity of 350,000 tonnes per
year. The primary foundry alloys
cast house will have a capacity of 275,000 tonnes per year.
Subject has a workforce of approximately 1,000 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) 44490222
Fax: (974) 44438182
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.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.