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Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SS INTERNATIONAL ENGINEERING WLL |
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Registered Office : |
Wakra Road PO Box 82845 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.11.2010 |
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Com. Reg. No.: |
47620, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of industrial and building automation products |
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No. of Employees : |
15 |
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
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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 : SS INTERNATIONAL ENGINEERING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st November 2010
Commercial Registration Number : 47620, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 15
Activities : Distributors of industrial and building automation products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ms Ayline Amasura, Financial Controller
SS INTERNATIONAL ENGINEERING WLL
Location : Wakra Road
PO Box : 82845
Town : Doha
Country : Qatar
Telephone : (974) 44316577
Facsimile : (974) 44870340
Email : suresh.devadiga@ss.com.qa
/ ssi@qatar.net.qa
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
· Suresh Devadiga Indian Managing Director
· Sheikh Fahd Ahmed
M T Al Thani Qatari Director
· Ayline Amasura - Financial
Controller
· Sudheer Kumar - Technical
Supervisor
· Basheer Norani - Sales
Manager
Date of
Establishment : 1st
November 2010
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 47620, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Suresh Devadiga
· Sheikh Fahd Ahmed
M T Al Thani
Activities: Engaged in the import and distribution of industrial (DCS, PLC, HMI,
SCADA & Instrumentation) and
building automation products as well as GUI-HMI switchgears and panel
division for MCC & LV/MV
switchgear.
Import Countries: Europe and the Far East.
Agencies Held:
· Trene United States
of America
· Emersons United Kingdom
· Gruger Ventilation
System Singapore
Operating Trend: Steady
Subject has a workforce of 15 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
12,660,000 QR
13,000,000
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.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.10 |
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|
1 |
Rs.82.46 |
|
Euro |
1 |
Rs.70.49 |
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.