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Report Date : |
31.05.2013 |
IDENTIFICATION DETAILS
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Name : |
PUNJ LLOYD LTD |
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Registered Office : |
Al Furdan Tower, 18th Floor, C Ring Road, West Bay Area, PO Box 31721 & 55174
Doha |
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Country : |
Qatar |
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Date of Incorporation : |
23.09.2008 |
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Com. Reg. No.: |
32929 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged as general pipeline and construction contractors. |
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No. of Employees : |
700 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
PUNJ LLOYD LTD
Country of Origin :
Qatar
Legal Form :
Limited Liability Company
Registration Date :
23rd September 2008
Commercial Registration Number :
32929, Doha
Issued Capital :
QR 1,000,000
Paid up Capital :
QR 1,000,000
Total Workforce :
700
Activities :
General pipeline and construction contractors.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
H K Shuresh Shah, Procurement Manager
PUNJ LLOYD LTD
Registered &
Physical Address
Building : Al Furdan
Tower, 18th Floor
Street : C Ring Road
Area : West Bay
Area
PO Box : 31721 &
55174
Town : Doha
Country : Qatar
Telephone : (974) 44074555
/ 44906762
Facsimile : (974) 44906758
/ 44074500
Mobile : (974)
55578072
Email : pllme@punjlloyd.com
/ plldoha@punjlloyd.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Name Position
Amit Kaura Vice
President
Marco Tombari Operations
Manager
K A Uni Krishnan Finance
Manager
H K Shuresh Shah Procurement
Manager
Date of Establishment : 23rd
September 2008
Legal Form : Limited Liability
Company
Commercial Reg. No. : 32929, Doha
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of
Shareholder (s)
Punj Lloyd Ltd
New Delhi
India
Eurotech Project Development Co
Doha
Activities: Engaged as general pipeline and construction contractors.
Punj Lloyd has been awarded the Engineering, Procurement,
Installation and Commissioning of Strategic Gas Transmission Project, worth US$
800 million, from Qatar Petroleum. The project includes laying of 211 km of pipeline with associated stations
and infrastructure. The project will transport 2000 MMSCFD1 of sweet lean gas from Ras Laffan to different
consumers via 36 inch diameter pipelines. Work on the project is expected to be
completed in 32 months.
Currently the subject is working on the installation of a poly silicon
plant for Qatar Solar Technology, the
project is valued in the range of US$ 700-800 million.
In addition subject has been working on SGTP projects, where the client
is Qatar Petroleum and the project is valued at US$ 800 million.
Subject has also secured another contract with (NDIA) New Doha
International Airport.
Subject has a workforce of approximately 700 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.
Arab Bank Ltd
Al Saad Street
PO Box: 3058
Doha
Tel: (974) 44426555 / 44426560
Fax: (974) 44447218
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.56.10 |
|
|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.72.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.