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Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL |
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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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Year of Incorporation : |
1956 |
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Com. Reg. No.: |
25474, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and distribution of automotive tyres, batteries and spare parts. Subject also operates carwashes. |
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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 |
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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 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 :
INTERNATIONAL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1956
Commercial Registration Number : 25474,
Chamber Membership Number : 6808
Issued Capital : QR 515,000
Paid up Capital : QR 515,000
Total Workforce : 50
Activities : Import and distribution of automotive tyres, batteries and spare parts.
Subject also operates carwashes
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abid Munir, Sales Manager
INTERNATIONAL TYRE CENTRE WLL
Location : Salwa Road
PO Box : 51 & 47036
Town : Doha
Country : Qatar
Telephone : (974) 44689103
/ 44601750 / 44431166 / 44134309 / 40157000
Facsimile : (974) 44689244
/ 44134909 / 44328642
Mobile : (974)
55736889
Email : itcqatar@qatar.net.qa
/ vishwas@itcdoha.com
Subject operates from a medium sized suite of offices and a warehouse
that are owned and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
· Airport Road Workshop
& car wash
Doha
Tel:
(974) 44653041
· Doha Industrial
Area Workshop
& car wash
Doha
Tel:
(974) 44504972
· Farj Bin Mahmoud
Street Workshop
& car wash
Doha
Tel: (974)
44316378
Name Position
· Marzouk Mohamed Al
Shamlan Managing
Director
· Tariq Marzouk
Mohamed Al Shamlan Director
· Mohamed Marzouk
Mohamed Al Shamlan Director
· Shamlan Marzouk
Mohamed Al Shamlan Director
· Mullethvalpil
Vishwas General
Manager
· Jeeboy P Mani Finance
Manager
· Abid Munir Sales
Manager
Date of
Establishment : 1956
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 25474, Doha
Chamber Member No. : 6808
Issued Capital : QR 515,000
Paid up Capital : QR 515,000
· Marzouk Mohamed Al
Shamlan
· Tariq Marzouk
Mohamed Al Shamlan
· Mohamed Marzouk
Mohamed Al Shamlan
· Shamlan Marzouk
Mohamed Al Shamlan
· Qatar Trading Co
Doha
· Marzouk Al Shamlan
& Sons Co
Doha
Activities: Engaged in the import and distribution of automotive tyres, batteries
and spare parts. Subject also
operates carwashes.
Import Countries: Europe, the Far East, Canada and the United States
of America
International Suppliers:
· Goodyear United States of America
· Falcon Japan
· MRF India
· Runway China
· Varta Germany
· Amron India
· Double Coin China
· Solideal Sri
Lanka
· OHTSU Japan
· OPTIMA Canada
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
19,660,000 QR
20,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Qatar National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
·
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.
Credit amount 211,000 150,000
Amount overdue 0 0
Payment terms 120
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds
Sterling US
Dollars
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.59.73 |
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|
1 |
Rs.91.82 |
|
Euro |
1 |
Rs.78.23 |
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.