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Report Date : |
31.05.2013 |
IDENTIFICATION DETAILS
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Name : |
GULF GRC & BUILDING MATERIALS |
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Registered Office : |
Street No 35, Gate No 35 Industrial Area PO Box 92050 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
23.02.2005 |
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Com. Reg. No.: |
29874/1, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of building materials and paints |
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No. of Employees : |
8 |
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 |
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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
Source
: CIA
Company Name : GULF GRC & BUILDING MATERIALS
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 23rd February 2005
Commercial Registration Number : 29874/1, Doha
Invested Capital : QR 200,000
Total Workforce : 8
Activities : Wholesale and retail of building materials and paints
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GULF GRC & BUILDING MATERIALS
Street : Street No 35, Gate No 35
Area : Industrial
Area
PO Box : 92050
Town : Doha
Country : Qatar
Telephone : (974) 44604834
/ 44603606
Facsimile : (974) 44600751
Email : info@gulfgrc.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Doha.
Name Nationality Position
· Zahed Mansour Al
Khairin Qatari Proprietor
& General Manager
· Azim Ali - Sales
Manager
Date of
Establishment : 23rd
February 2005
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 29874/1, Doha
Invested Capital : QR 200,000
Mr Zahed Mansour Al Khairin is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of building
materials and paints.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 8 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
8,600,000 QR
8,900,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.10 |
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|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.72.80 |
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 |
|
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.