MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
READYMIX QATAR LLC |
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Registered Office : |
Airport Road, PO Box : 5007,
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
6435 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of concrete mix and products |
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No. of Employees : |
450 |
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 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.
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Source
: CIA |
Company Name : READYMIX
QATAR LLC
Country of Origin :
Qatar
Legal Form :
Limited Liability Company – LLC
Registration Date :
1st January 1991
Commercial Registration Number :
6435, Doha
Chamber Membership Number :
315/1
Issued Capital : QR 2,000,000
Paid up Capital :
QR 2,000,000
Total Workforce :
450
Activities :
Manufacturers of concrete mix and products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
READYMIX QATAR LLC
Registered &
Physical Address
Location : Airport Road
PO Box : 5007
Town : Doha
Country : Qatar
Telephone : (974) 44653070
/ 44341796
Facsimile : (974) 44651534
/ 44328056
Mobile : (974)
66488995
Email : main.office@rmg-readymixqatar.com.qa
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Name Position
Hamad Heshmat Chief
Executive Manager
Greg Sheardown Regional
Manager
Jon Brooks Managing
Director
Andrew Paylor Vice
President
Andrew Panes Business
Development Manager
Sagiv Ragasangani Chief
Finance Officer
Date of Establishment : 1st
January 1991
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 6435, Doha
Chamber Member No. : 315/1
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Name of
Shareholder (s)
Hamad Abdullah Al Thani
Qatari
Redland Mix Ltd
United Kingdom
Activities: Engaged in the
manufacture of concrete mix and products.
Import Countries: Europe
and the Far East.
Subject has a workforce of approximately 450 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.
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
According to local sources, subject meets its payment obligations in a
timely manner and the company 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.55.04 |
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|
1 |
Rs.83.95 |
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Euro |
1 |
Rs.70.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.