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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
BOMBAY SILK CENTRE WLL |
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Registered Office : |
Mushreib Building No. 4, Al Khaleej Street, Mushreib Area, PO Box 5054, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
16073, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of readymade garments, embroidery, bead work, fabrics, gold and silver motifs |
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No. of Employees : |
12 |
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 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 :
BOMBAY SILK CENTRE WLL
Country of Origin :
Qatar
Legal Form : With Limited Liability - WLL
Start Date :
1988
Registration Date :
29th November 1993
Commercial Registration Number :
16073, Doha
Chamber Membership Number :
1074/1
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce : 12
Activities :
Wholesalers and retailers of readymade garments, embroidery, bead work,
fabrics, gold and silver motifs
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
BOMBAY SILK CENTRE WLL
Registered &
Physical Address
Building : Mushreib
Building No. 4
Street : Al Khaleej
Street
Area : Mushreib
Area
PO Box : 15054
Town : Doha
Country : Qatar
Telephone : (974) 44447677
/ 44427674 / 44427675 / 44412715 / 44412716
Facsimile : (974) 44427677
Mobile : (974)
55501216
Email : shalibekal@qatar.net.qa
/ bombaysilk@gmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Doha.
Branch Offices
Location Description
Salwa Road Office
premises
Doha
Tel: (974) 44169348
Name Nationality Position
Bekal Mohamed Shali Indian Managing
Director
Ali Misnad Ali Al Mohandi Qatari Director
Kakkulath Abdul Qader - Administration
Manager
Mohamed S M Dilshad - Accounts
Manager
Bhithrash Sheth - Sales
Manager
Date of
Establishment : Subject’s
operations date back to 1988, however it was registered on 29th
November 1993
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 16073, Doha
Chamber Member No. : 1074/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s) Percentage
Ali Misnad Ali Al Mohandi 51%
Bekal Mohamed Shali 49%
Al Jaffal Centre WLL
Doha
Activities: Engaged in the wholesale and retail of readymade garments, embroidery,
bead work, fabrics, gold and silver motifs.
Import Countries: India and the United Kingdom.
International Suppliers:
Raymond India
Reid & Tailor India
John Foster Textile United Kingdom
Operating Trend: Steady
Subject has a workforce of 12 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
10,220,000 QR
10,700,000
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)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
No complaints regarding subject’s payments have been reported.
Date of transaction July
2008
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters of Credit
Paying record No
Complaints
Currency US
Dollars
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.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
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 |
---- |
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.