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Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
QATAR POLYMER INDUSTRIAL COMPANY WLL |
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Registered Office : |
Emirates Airlines Building B Ring Road Montazah PO Box 33195 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
15.07.1997 |
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Com. Reg. No.: |
19314, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacturers and printers of polymer bags. |
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No. of Employees : |
300 |
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
|
Country Name |
Previous Rating (31.03.2011) |
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.
Source
: CIA
Company Name : QATAR POLYMER INDUSTRIAL COMPANY WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 15th July 1997
Commercial Registration Number : 19314, Doha
Issued Capital : QR 32,081,161
Paid up Capital : QR 32,081,161
Total Workforce : 300
Activities : Manufacturers and printers of polymer bags.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ghazi Al Hamd, Public Relations Manager
QATAR POLYMER INDUSTRIAL COMPANY WLL
Building : Emirates
Airlines Building
Street : B Ring Road
Area : Montazah
PO Box : 33195
Town : Doha
Country : Qatar
Telephone : (974) 44421250
/ 44421256 / 44913916
Facsimile : (974) 44438963
Mobile : (974)
55860449 / 55899874
Email : info@qatarpac.net
/ anand@qatarpac.net
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Branch Offices
Location Description
· Street No. 38,
Gate No. 99 Factory
premises
Industrial Area
Doha
Name Position
· Abdulaziz Mubarak Al Dolaimi Managing
Director
· Majid Al Dolaimi General
Manager
· N Ramesh Sales
Manager
·
Majid
Ali Sadiq Marketing
Manager
·
Anand
Salian Finance
Manager
·
Elliot
Sreevalsan Human
Resources Manager
· Ghazi Al Hamd Public
Relations Manager
Date of
Establishment : 15th
July 1997
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 19314, Doha
Issued Capital : QR 32,081,161
Paid up Capital : QR 32,081,161
· Abdulaziz Mubarak Al Dolaimi 50%
· Al Dolaimi Group 50%
Doha
Tel: (974) 44913913
Fax: (974) 44913914
· Al Dolaimi Group
Qatar
Doha
Tel: (974)
44697199
· Al Dolaimi Trading
& Contracting
Doha
Tel: (974)
44677314
· Al Dolaimi Oil
Equipment
Doha
Tel: (974)
44691227
Activities: Engaged in the
manufacture and printing of polymer bags.
The Company operates from two manufacturing facilities situated in the
Doha Industrial Area. The annual
output capacity is in excess of 20,000 tons per annum.
The main manufacturing
facility carries out:
Extrusion, Tape &
winding, Weaving, Lamination, Blown film production
The Company operates 4
extrusion lines and 150 weaving looms of varying sizes.
The finishing plant operates:
Automatic cutting and sewing machines, manual cutting and finishing,
printing machines, packaging and
baling equipment.
Product Range
Import Countries: Europe and the Far East
Export Countries: United Kingdom,
Germany, Belgium, Spain, Italy, Portugal, Ireland, Netherlands, Libya, Yemen, Greece,
Poland, Tanzania, Togo, Djibouti, Sudan, Lebanon, Canada and the United States
of
America.
Subject has a workforce of approximately 300 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.
·
Qatar National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax:
(974) 44415020
·
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.53.85 |
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|
1 |
Rs.85.25 |
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Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.