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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SUNKEY MILLS LLC |
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Registered Office : |
Street No. 2,
Industrial Area, P O Box 20384, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.12.2007 |
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Com. Reg. No.: |
37698, Doha |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor of general foodstuffs,
including rice, milk, sugar and spices |
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No. of Employees : |
25 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Qatar |
B1 |
B1 |
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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 grew sharply 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 6.6% 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 : SUNKEY MILLS LLC
Country of Origin : Qatar
Legal Form : Limited Liability Company - LLC
Registration Date : 16th December 2007
Commercial Registration Number : 37698, Doha
Chamber Membership Number : 15115
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 25
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SUNKEY MILLS LLC
Registered &
Physical Address
Street : Street No. 2
Area : Industrial Area
PO Box : 20384
Town : Doha
Country : Qatar
Telephone : (974) 44504275 / 44504274 / 44504162
Facsimile : (974) 44504162 / 44504274
Email : sunkeymills.llc@gmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Doha.
Name Nationality Position
·
Christy
Thomas Indian Managing
Director
·
A V
Mathew Indian Director
·
Ali
Abdullah Al Kholaifam Qatari Director
Date of Establishment : 16th
December 2007
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 37698, Doha
Chamber Member No. : 15115
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Ali
Abdullah Al Kholaifam
·
Christy
Thomas
·
A V
Mathew
Activities: Engaged in the import and distribution of
general foodstuffs, including rice, milk, sugar and spices.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 25 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 Revenue QR 7,100,000 QR 7,250,000
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.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
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.