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Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1999 |
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Com. Reg. No.: |
36143 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers of fire fighting equipment and extinguishers |
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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
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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 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 :
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1999
Commercial Registration Number : 36143
Chamber Membership Number : 13681
Invested Capital : QR 200,000
Total Workforce : 45
Activities : Manufacturers of fire fighting equipment and extinguishers
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Faisal Zaki Abdio, Assistant General Manager
QATAR FACTORY FOR
FIRE FIGHTING EQUIPMENT
Registered &
Physical Address
Location : Industrial Area
PO Box : 55644
Town : Doha
Country : Qatar
Telephone : (974) 44025888
Facsimile : (974) 44114630
Mobile : (974) 55569178
Email : faisal@naffco.com
Premises
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Doha.
Branch Office (s)
Location Description
·
Salwa
Road Office
premises
Doha
Tel: (974) 44694172
Fax: (974) 44694174
Name Position
·
Khalid
Al Khateeb Proprietor
& General Manager
·
Faisal
Zaki Abdio Assistant
General Manager
·
Mohamed
Tahseen Finance
Manager
Date of Establishment : 1999
(production started in 2005)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 36143
Chamber Member No. : 13681
Invested Capital
: QR 200,000
Mr Khalid Al
Khateeb is the sole proprietor of the business.
Activities: Engaged in the manufacture of fire fighting
equipment and extinguishers.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 45 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 16,000,000 QR 16,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Abdulla Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
No complaints
regarding subject’s payments have been reported.
According to local sources,
subject enjoys a good reputation for the quality of its products with nothing
detrimental uncovered regarding the manner in which operations are conducted.
As such the business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
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UK Pound |
1 |
Rs.92.22 |
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Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.