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Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
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Name : |
PALMERA FOR AGRICULTURAL WORKS COMPANY WLL |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25.09.2012 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Designers of landscaping works |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
|
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 non- associated 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.
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Source : CIA |
Company Name : PALMERA FOR AGRICULTURAL WORKS COMPANY WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 25th September 2012
Membership Number : 20177
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Total Workforce : 20
Activities : Designers of landscaping works
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
PALMERA FOR
AGRICULTURAL WORKS COMPANY WLL
Registered &
Physical Address
Location : Museum Building, 1st
Floor
Area : Old Salata
PO Box : 50395
Town : Doha
Country : Qatar
Telephone : (974) 44292222 / 44292211 / 33292220
Facsimile : (974) 44297989
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Mohamed
Motaz Al Khayat Syrian Managing Director
·
Abdullah
Salem Al Ali Qatari Director
Date of Establishment : 25th
September 2012
Legal Form :
With Limited Liability -
WLL
Membership No. : 20177
Issued Capital : QR 2,000,000
Paid up Capital :
QR 2,000,000
Name of Shareholder
(s)
·
Mohamed
Motaz Al Khayat
·
Abdullah
Salem Al Ali
Activities: Engaged in the design of landscaping works,
soft landscaping, irrigation systems, hard landscaping, water features and swimming
pools, landscape lightings, play equipment, street furniture, wooden works,
timber deck, shade structure, pergola, gazebo, sculpturing, painting, handrail
& balustrade and maintenance works.
Subject has a
workforce of approximately 20 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
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.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.73 |
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UK Pound |
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
---- |
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.