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Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
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Name : |
NASSER BIN KHALID & SONS TRADING CO WLL |
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Registered Office : |
Building No. 82 Street No. 2, Gate No. 188 Garafa Industrial Area PO
Box 20195 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
19.02.1994 |
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Com. Reg. No.: |
15986, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject operates several divisions like Trading Division, Supermarket Division |
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No. of Employees : |
480 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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. Throughout the financial crisis Qatari authorities sought
to protect the local banking sector with direct investments into domestic
banks. GDP had 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.
GDP slowed to 6.3% in 2012 as Qatar''s gas sector expansion moved toward
completion. 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
have made Qatar the world''s highest per-capita income country 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, light rail system, and the Qatar-Bahrain causeway.
The Hamad International Airport is projected to open by the end of 2013 with an
annual passenger capacity of 24 million.
Source
: CIA
Company Name : NASSER BIN KHALID & SONS TRADING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 19th February 1994
Commercial Registration Number : 15986, Doha
Chamber Membership Number : 889/1
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 480
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person (s) Interviewed : Varul Raj, Finance Manager
NASSER BIN KHALID & SONS TRADING CO WLL
Building : Building No.
82
Street : Street No.
2, Gate No. 188
Area : Garafa
Industrial Area
PO Box : 20195
Town : Doha
Country : Qatar
Telephone : (974) 44883007
/ 44883008
Facsimile : (974) 44516305
/ 44883009
Email : nbktcs@qatar.net.qa
/ info@nbksgroup.com
Subject operates from a large suite of offices that are rented and located
in the Central Business Area of Doha.
Name Position
· Nawaf Bin Nasser Bin Khalid Managing
Director
· Davi Ashwani General
Manager
· Varul Raj Finance
Manager
· Keshor Wasu Commercial
Manager
· Manesh Chandani Administration
Manager
Date of
Establishment : 19th
February 1994
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 15986, Doha
Chamber Member No. : 889/1
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
· Nasser Bin Khalid Al Thani & Sons Holding Co WLL
Doha
· Nasser Bin Khalid & Sons Co WLL
Doha
· Qatar Automobiles
Co WLL
PO Box: 1290
Doha
Tel: (974)
44426473 / 44424858
Fax: (974)
44425181
· Nassir Bin Khalid
& Sons Real Estate Co WLL
PO Box: 6823
Doha
Tel: (974)
44443903
· Nassir Bin Khalid
& Sons Tendering & Projects Promotion Co WLL
PO Box: 318
Doha
Tel: (974)
44324531
· National
Industrial Company WLL
PO Box: 235
Doha
Tel: (974)
44324531
· National
Industrial Contracting Company WLL
PO Box: 3713
Doha
Tel: (974)
44883985
Fax: (974)
44425181
· Qatar Petroleum
& Services Co WLL
PO Box: 1290 &
3338
Doha
Tel: (974)
44426473 / 44423914
Fax: (974)
44425181
· Arabian Insurance
Co WLL
Activities: Subject’s operations are performed through the following divisions:
· Trading Division
Engaged
in the import and distribution of general foodstuff products.
·
Supermarket Division
Under this division subject operates four supermarkets
located in Doha, at Airport Road, Al Rayyan Road, Umm Maesadi
Area and Mega Mart.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of approximately 480 employees.
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year Sales Source
Year Ending 31/12/11: QR
14,665,000 (given by subject)
Year Ending 31/12/12: QR
15,500,000 (given by subject)
The subject’s financial condition is deemed to be Fair.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
During the course of this investigation the following sources were
consulted:
- Internal database
- Journals, directories, media
& web searches
- Local Registry office
- Interview with Mr Varul Raj, Finance Manager
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.68 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.68 |
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.