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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED ABDUL RAHIM ABEL TRADING EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.06.1968 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of household plastic items and outdoor equipment. |
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No. of Employees : |
32 |
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) |
|
Qatar |
A2 |
A2 |
|
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 :
MOHAMED ABDUL RAHIM ABEL TRADING EST
Country of Origin : Qatar
Legal Form :
Sole Proprietorship
Registration Date :
29th June 1968
Commercial Registration Number :
3419, Doha
Invested Capital :
QR 100,000
Total Workforce :
32
Activities :
Distributors of household plastic items and outdoor equipment.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
K T Riaz, Commercial Manager
MOHAMED ABDUL RAHIM ABEL TRADING EST
Registered &
Physical Address
Location : Souq Wakef
Street, Shop No. 110
PO Box : 512
Town : Doha
Country : Qatar
Telephone : (974) 44322716
/ 44423795 / 44423448
Facsimile : (974) 44440715
Mobile : (974)
55829154
Email : abeldoha@qatar.net.qa
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Suburban Business Area of Doha.
Branch Office (s)
Location Description
Souq Wakef Rented
showroom premises
Doha
Tel: (974) 44449802
Doha Rented
showroom premises
Tel: (974) 44328852
Name Position
Mohamed Abdul Rahim Abel Proprietor
& General Manager
Haider Mohamed Abdul Rahman Abel Assistant
General Manager
K T Riaz Commercial
Manager
Zubair Kunniprat Financial
Controller
Date of Establishment : 29th
June 1968
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 3419, Doha
Chamber Member No. : 2730
Invested Capital : QR 100,000
Mr Mohamed Abdul Rahim Abel is the sole proprietor of the business.
Activities: Engaged in the
import and distribution of household plastic items, buckets, tables, chairs,
camping and outdoor equipment.
Import Countries: United
Arab Emirates and India
International Suppliers:
Cosmo Plastic United
Arab Emirates
Nikmal India
Prince Ware India
Nirmal Poly India
Surya Impex Manufacturing Ltd India
Gala Cleaning Pvt Ltd India
R R Export India
Operating Trend: Steady
Subject has a workforce of 32 employees.
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Revenue QR
15,230,000 QR
18,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr K T Riaz, Commercial Manager
HSBC Bank Middle East
Abdullah Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
No complaints regarding subject’s payments have been reported.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the business is
deemed a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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.