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Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Q CHEM II
DISTRIBUTION CO LTD |
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Registered Office : |
West Bay Area,
24646 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
20.10.2005 |
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Com. Reg. No.: |
31547, Doha |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the
import, distribution and transportation of chemical products |
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No. of Employees : |
120 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 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.
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Source : CIA |
Company Name : Q CHEM II DISTRIBUTION CO LTD
Country of Origin : Qatar
Legal Form :
Limited Liability Company
Registration Date : 20th
October 2005
Commercial Registration
Number : 31547, Doha
Chamber Membership
Number : 10339/1
Issued Capital : QR
1,000,000
Paid up Capital : QR
1,000,000
Total Workforce : 120
Activities :
Distribution and transportation of chemical products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Manglore
Abdulrahman, Financial Controller
Q CHEM II
DISTRIBUTION CO LTD
Location : West Bay Area
PO Box : 24646
Town : Doha
Country : Qatar
Telephone : (974) 44847111 / 44847140 / 44847128 / 44847110
Facsimile : (974) 44835663
Email : mcemerson@qchem.com.qa
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Doha.
Name Position
·
Ahmed Al Emadi General
Manager
·
Nabil Al Saad Operations
Manager
·
Michael Emerson Finance
Manager
·
Manglore Abdulrahman Financial
Controller
·
Paradeep Kumar Planning
Manager
·
Lark
Messe Marketing
Manager
Date of Establishment : 20th
October 2005, however operations did not begin until 1st July 2010
Legal Form :
Limited Liability Company
Commercial Reg. No. : 31547, Doha
Chamber Member No. : 10339/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of Shareholder (s) Percentage
Qatar Petroleum 51%
Doha
·
Chevron
Philips Chemical 49%
United States of America
·
Q Chem I Distribution Co Ltd
Doha
CR No. 45536
·
Qatar Chemical Co Ltd (I)
Doha
CR No. 21119
·
Qatar Chemical Co Ltd (II)
Doha
CR No. 31144
Activities: Engaged in the import, distribution and
transportation of chemical products.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 120 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.54.42 |
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|
1 |
Rs.83.20 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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.