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Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AL ASADI TRADING COMPANY WLL |
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Registered Office : |
Street No. 2, Industrial Area,
PO Box: 518, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
10411 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of dried foodstuffs, bakery products and beverages |
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No. of Employees : |
50 |
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 |
|
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 :
AL ASADI TRADING COMPANY WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
1st January 1991
Commercial Registration Number :
10411, Doha
Chamber Membership Number :
258/1
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
50
Activities :
Distributors of dried foodstuffs, bakery products and beverages
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Adnan Darwish, General Manager
AL ASADI TRADING COMPANY WLL
Registered &
Physical Address
Street : Street No. 2
Area : Industrial Area
PO Box : 518
Town : Doha
Country : Qatar
Telephone : (974) 44500162
Facsimile : (974) 44506119
Mobile : (974)
55560151 / 55504363
Email : al_asadi_co@hotmail.com
Please note that subject’s previous address was, Grand Hamed Avenue,
Doha.
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 Asadi Lari Iranian Managing
Director
Abdulrazzaq Abdul Wahab Hussain Qatari Director
Adnan Darwish - General
Manager
Date of Establishment : 1st
January 1991
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 10411, Doha
Chamber Member No. : 258/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
Abdulrazzaq Abdul Wahab Hussain
Mohamed Asadi Lari
Activities: Engaged in the import and
distribution of dried foodstuffs, bakery products and beverages.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 50 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 Sales QR 14,210,000 QR 14,650,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
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.58.45 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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.