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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
FOCUS TRADING AND CONTRACTING WLL |
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Formerly Known As : |
FOCUS UNIFORMS AND TRADING WLL |
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Registered Office : |
Bin Mahmood Area PO Box 30127 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.07.2011 |
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Com. Reg. No.: |
51606, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject operates several divisions like Textile
Division, Maintenance and Building Material Division |
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No. of Employees : |
45 |
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 : FOCUS TRADING AND CONTRACTING WLL
Previously Known As : FOCUS UNIFORMS AND TRADING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st July 2011
Commercial Registration Number : 51606, Doha
Chamber Membership Number : 25544
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 45
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ibrahim Khalil Veteel, Managing Director
FOCUS TRADING AND CONTRACTING WLL
PREVIOUSLY KNOWN
AS: FOCUS UNIFORMS AND TRADING WLL
Location : Bin Mahmood
Area
PO Box : 30127
Town : Doha
Country : Qatar
Telephone : (974) 44436139
Facsimile : (974) 44353165
Mobile : (974)
55546673 / 55887065
Email : mirar@focusgroupqatar.com
/ aldi@focusgroupqatar.com
/ khalilrv@gmail.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Doha.
Name Nationality Position
· Ibrahim Khalil
Veteel Indian Managing
Director
· Sultan Jawhar
Faraj Qatari Director
Date of
Establishment : 1st
July 2011
History : Subject began in
2011 under the name of “Focus Uniforms and Trading WLL”. During 2012 it changed names to “Focus Trading and
Contracting WLL”.
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 51606, Doha
Chamber Member No. : 25544
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Ibrahim Khalil
Veteel
· Sultan Jawhar
Faraj
Activities: Subjects operations are performed through the following divisions:
· Textile Division
Engaged
in the import and distribution of textiles and readymade garments.
· Maintenance and Building Material Division
Engaged in the
import and distribution of building materials and hardware, provision of
building maintenance services.
Import Countries: Europe and the Far East.
Subject has a workforce of 45 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.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 4435444
Fax: (974) 4416631 / 4410625
·
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 business is considered to be a fair trade risk and
the above credit figure is deemed to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
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|
1 |
Rs.91.76 |
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Euro |
1 |
Rs.79.33 |
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.