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Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
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Name : |
RAS TRADING AND SERVICES CO WLL |
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Registered Office : |
B Ring Road, PO Box 60349,
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
23.11.2011 |
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Com. Reg. No.: |
53167 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s operations are performed through the following divisions:
Trading Division, Chemicals
Division, Ras Tec Property Division |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 :
RAS TRADING AND SERVICES CO WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
23rd November 2011
Commercial Registration Number :
53167, Doha
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
20
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
RAS TRADING AND SERVICES CO WLL
Registered &
Physical Address
Location : B Ring Road
PO Box : 60349
Town : Doha
Country : Qatar
Telephone : (974) 44432121
Facsimile : (974) 44430302
Mobile : (974) 55532953
Email : kchameed@hotmail.com
/ rastec@qatar.net.qa
Premises
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Central Business Area of Doha.
Name Nationality Position
Abdul Hameed Kotti Culam Cappil Indian Managing Director
Mohamed Ali Hassan Al Mohanadi Qatari Director
Ashraf Mohamed - Financial
Controller
Date of Establishment : 23rd
November 2011
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 53167, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
Abdul Hameed Kotti Culam Cappil
Mohamed Ali Hassan Al Mohanadi
Activities: Subject’s operations are performed through the following divisions:
Trading Division
Engaged in the import and distribution of industrial equipment and
safety equipment.
Chemicals Division
Providers of chemical cleaning services and industrial cleaning for the
oil and gas sector.
Ras Tec Property
Division
Providers of real estate services.
Import Countries: Europe and the Far East.
Subject has a workforce of 20 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
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.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.42 |
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UK Pound |
1 |
Rs.88.29 |
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Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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 |
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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.