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Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
D Ring Road, 7722
& 2727, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.04.1989 |
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Com. Reg. No.: |
12025, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the import,
cutting and processing of marble, granite and mosaics. |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : QATAR
MARBLE ISLAMIC MOSAIC CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 1st
April 1989
Commercial
Registration Number : 12025,
Doha
Issued Capital : QR
200,000
Paid up Capital : QR
200,000
Total Workforce : 35
Activities :
Cutting and processing of marble, granite and mosaics
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
QATAR MARBLE
ISLAMIC MOSAIC CO WLL
Location : D Ring Road
PO Box : 7722 & 2727
Town : Doha
Country : Qatar
Telephone : (974) 44655006 / 44655007
Facsimile : (974) 44655008
Email : qmarble@qatar.net.qa / ramy2k@gmail.com
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Suburban Business Area of Doha.
Name Nationality Position
·
Abdullah
Mohamed Al Manni Qatari Managing
Director
·
Saleh Abdullah
Mohamed Al Manni Qatari Director
·
Rafiq
Hamadi - General
Manager
·
Irwin
Thomas - Accounts
Manager
Date of Establishment : 1st
April 1989
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 12025, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Abdullah
Mohamed Al Manni
·
Saleh
Abdullah Mohamed Al Manni
Activities: Engaged in the import, cutting and processing
of marble, granite and mosaics.
Import
Countries: Europe and the
Far East.
Brand Names: AZUL BAHIA, BLUE PEARL, CARRARA, CREMA
MARFIL, EMPREDOR BROWN, INDIAN
GRANITE, NEGRO MARQUINA, PERLATO
SICILIA, ROSA AURORA and ROSSO PORINO
Operating Trend: Steady
Subject has a
workforce of 35 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 12,880,000 QR 13,625,000
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
company is considered to be a fair trade risk and the above credit figure is
deemed to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.