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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AL RAWABI FOOD CENTRE WLL |
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Registered Office : |
Al Rayan Area, P
O Box 21651, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1979 |
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Com. Reg. No.: |
31151, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject operates through several divisions include · Fruit & Vegetable Division · Foodstuff Division · Electronic Division · Catering Division |
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No. of Employees : |
525 |
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) |
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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 : AL RAWABI FOOD CENTRE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1979
Commercial Registration Number : 31151, Doha
Chamber Membership Number : 10406
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 525
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nawaz Kapatamal, Financial Controller
AL RAWABI FOOD CENTRE
WLL
Registered &
Physical Address
Location : Al Rayan Area
PO Box : 21651
Town : Doha
Country : Qatar
Telephone : (974) 44812374 / 44812582 / 46889844
Facsimile : (974) 44820974 / 44806446 / 46898399
Mobile : (974) 55832370
Email : alrawabifoodcentre@hotmail.com
Premises
Subject operates
from a large suite of offices and a warehouse that are owned and located in the
Central Business Area of Doha.
Branch Office (s)
Subject has branch offices located in Al Khor, Wakara, Najma and Asmak.
Name Nationality Position
·
Homaid
Mohamed Al Arabid Al Shawa Qatari Managing Director
·
Malinti
P Abdullah Indian Director
·
Mohamed
Sadiq Bayin Indian Director
·
Mahmoud
Morinderi Indian Director
·
Mohamed
Abdullah Indian Director
·
M V
Ahmed Indian Director
·
V P
Ismail - Outlets
Manager
·
B Siju - Sales
Manager
·
Faisal
Baniligal - Financial
Manager
·
Nawaz
Kapatamal
- Financial
Controller
Date of Establishment : 1979
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 31151, Doha
Chamber Member No. : 10406
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Homaid
Mohamed Al Arabid Al Shawan
·
Malinti
P Abdullah
·
Mohamed
Sadiq Bayin
·
Mahmoud
Morinderi
·
Mohamed
Abdullah
·
M V
Ahmed
·
Five
Group Trading and Contracting WLL
Doha
·
Mars
Shopping Centre
Doha
·
Grand
Hypermarket
Doha
·
Grand
Shopping Centre
Doha
·
Doha
Rawabi Food Centre
Doha
Activities: Subject’s operations are performed through
the following divisions:
·
Fruit & Vegetable Division
Wholesalers and retailers of
fruit and vegetables.
·
Foodstuff Division
Wholesalers and retailers of
general foodstuff products.
·
Electronic Division
Wholesalers and retailers of
household electrical appliances, computers and cash machines.
·
Catering Division
Providers of airport catering services.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of approximately 525 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 23,800,000 QR 25,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Nawaz Kapatamal, Financial Controller
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
·
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.54.78 |
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UK Pound |
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
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.