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Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KBAS CONTRACTING, TRADING & INDUSTRIAL CO WLL |
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Registered Office : |
NBK Commercial Complex, 2nd Floor Salwa Road PO Box 1760
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1969 |
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Com. Reg. No.: |
86, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject operates several divisions like Contracting
Division, Trade Division |
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No. of Employees : |
350 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 in 2011. Qatari authorities throughout the financial crisis sought to protect the local banking sector with direct investments into domestic banks. GDP 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. 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 likely have made Qatar the second highest per-capita income country - behind Liechtenstein - 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 and the Qatar-Bahrain causeway.
Source
: CIA
Company Name : KBAS CONTRACTING, TRADING & INDUSTRIAL CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1969
Commercial Registration Number : 86, Doha
Trade Licence Number : 94
Chamber Membership Number : 01/00655
Issued Capital : QR 25,000,000
Paid up Capital : QR 25,000,000
Total Workforce : 350
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ali Shendid, Financial Manager
KBAS CONTRACTING, TRADING & INDUSTRIAL CO WLL
Location : NBK
Commercial Complex, 2nd Floor
Street : Salwa Road
PO Box : 1760
Town : Doha
Country : Qatar
Telephone : (974) 44683203
/ 44684203 / 44687129 / 44684084
Facsimile : (974) 44684033
Email : main@kbascontracting.com.qa / kbas@gmail.com / kbascontracting@gmail.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
· Khalid Bin Ahmed
Al Sowaidi Qatari Managing Director
· Mahmoud Khalil Abu
Al Raab Jordanian Director
· Khalil Mahmoud
Khalil Abu Al Raab Jordanian Director
· David Gilkes - General
Manager
· Wael Rushaid - Operations
Manager
· Ali Shendid - Financial
Manager
Date of
Establishment : 1969
History : Subject was
originally established in 1969 under the name of Jassim Bin Khalid Contracting
Company (JBK) as a partnership between
Sheikh Jassim Bin Khalid Al Thani and Mr
Mahmoud Abu Al Raab.
However in 1991, and following the demise of
Sheikh Jassim Bin Khalid Al Thani the
business was re-registered under the current
style of “KBAS Contracting, Trading &
Industrial Co WLL”.
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 86, Doha
Trade Licence No. : 94
Chamber Member No. : 01/00655
Issued Capital : QR 25,000,000
Paid up Capital : QR 25,000,000
· Khalid Bin Ahmed
Al Sowaidi
· Mahmoud Abu Al
Raab
· Khalil Mahmoud Abu
Al Raab
Activities: Subject’s operations are performed through the following divisions:
·
Contracting
Division
Engaged in the provision of grade 1 general
contractors services, specialising in roads, runways, earth moving and
electrical mechanical contracting.
·
Trade Division
Engaged in the import and distribution of
building materials, infrastructure, MEP and finishing products, waterproofing,
chemicals and sports products.
Import Countries: Europe and the United States of America
Subject has a workforce of approximately 350 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.
·
Commercial Bank of Qatar Ltd
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
·
Qatar National Bank
Government House Road
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 4415020
No complaints regarding subject’s payments have been reported.
According to local sources, subject meets its payment obligations in a
timely manner and the business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.71 |
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|
1 |
Rs.82.79 |
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Euro |
1 |
Rs.71.43 |
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.