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Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
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Name : |
TOLICO TRADING OIL AND GAS FIELD SERVICES WLL |
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Registered Office : |
Al Dastur Street, PO Box 1215, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.07.2000 |
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Com. Reg. No.: |
22778, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the import and distribution of gas and oilfield machinery
and equipment. |
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No. of Employees : |
15 Employees |
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 Complaint |
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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 : TOLICO TRADING OIL AND GAS FIELD
SERVICES WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
8th July 2000
Commercial Registration Number : 22778, Doha
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
15
Activities :
Distributors of gas and oilfield machinery and equipment
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
TOLICO TRADING OIL AND GAS FIELD SERVICES WLL
Location : Al Dastur
Street
PO Box : 1215
Town : Doha
Country : Qatar
Telephone : (974) 44354245
/ 44311753
Facsimile : (974) 44354237
Email : tolico@qatar.net.qa
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
· Shahid Malik Pakistani Managing
Director
· Mohamed Yousef Al
Kawari Qatari Director
· Kunal Shah - Finance
Manager
Date of
Establishment : 8th
July 2000
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 22778, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
· Shahid Malik
· Mohamed Yousef Al
Kawari
Activities: Engaged in the import and distribution of gas and oilfield machinery
and equipment.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales
QR 9,715,000 QR
10,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
Please note that subject has no knowledge of the commercial registration
number 7115.
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
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Currency |
Unit
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Indian
Rupees |
|
US Dollar |
1 |
Rs.54.84 |
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UK Pound |
1 |
Rs.88.16 |
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Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.