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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
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Name : |
PUNJ LLOYD LTD |
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Registered Office : |
Al Furdan Tower,
18th Floor, C Ring Road, West Bay Area, P O Box 31721 & 55174,
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
23.09.2008 |
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Com. Reg. No.: |
32929, Doha |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
General pipeline and construction contractors |
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No. of Employees : |
700 employees |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
qatar - ECONOMIC OVERVIEW
Qatar has prospered in the last several years with continued high real GDP growth in 2011. Qatari authorities throughout the financial crisis sought to protect the local banking sector with direct investments into domestic banks. GDP rebounded 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. 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 likely have made Qatar the second highest per-capita income country - behind Liechtenstein - 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 and the Qatar-Bahrain causeway.
|
Source : CIA |
Company Name : PUNJ LLOYD LTD
Country of Origin : Qatar
Legal Form : Limited Liability Company
Registration Date : 23rd September 2008
Commercial Registration Number : 32929, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 700
Activities : General pipeline and construction contractors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : H K Shuresh Shah, Procurement Manager
PUNJ LLOYD LTD
Registered &
Physical Address
Building : Al Furdan Tower, 18th
Floor
Street : C Ring Road
Area : West Bay Area
PO Box : 31721 & 55174
Town : Doha
Country : Qatar
Telephone : (974) 44074555 / 44906762
Facsimile : (974) 44906758 / 44074500
Mobile : (974) 55578072
Email : pllme@punjlloyd.com / plldoha@punjlloyd.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
Name Position
·
Amit
Kaura Vice
President
·
Marco
Tombari Operations
Manager
·
K A Uni
Krishnan Finance
Manager
·
H K
Shuresh Shah Procurement
Manager
Date of Establishment : 23rd
September 2008
Legal Form :
Limited Liability Company
Commercial Reg. No. : 32929, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of
Shareholder (s)
·
Punj
Lloyd Ltd
New Delhi
India
·
Eurotech
Project Development Co
Doha
Activities: Engaged as general pipeline and
construction contractors.
Punj Lloyd has been
awarded the Engineering, Procurement, Installation and Commissioning of
Strategic Gas Transmission Project, worth US$ 800 million, from Qatar
Petroleum. The project includes laying of 211 km of pipeline with associated
stations and infrastructure. The project will transport 2000 MMSCFD1 of sweet
lean gas from Ras Laffan to different consumers via 36 inch diameter pipelines.
Work on the project is expected to be completed in 32 months.
Currently the subject is working on the installation of a poly silicon plant for Qatar Solar Technology, the project is valued in the range of US$ 700-800 million.
In addition subject has been working on SGTP projects, where the client is Qatar Petroleum and the project is valued at US$ 800 million.
Subject has also secured another contract with (NDIA) New Doha International Airport.
Subject has a workforce of approximately 700 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.
·
Arab
Bank Ltd
Al Saad Street
PO Box: 3058
Doha
Tel: (974) 44426555 / 44426560
Fax: (974) 44447218
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.54.48 |
|
UK Pound |
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.