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Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SIMSIMA TILES & BLOCKS & INTERLOCK FACTORY |
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Registered Office : |
Street No. 41, Industrial Area, PO Box 3082, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
9643, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject engaged in the manufacture of tiles, blocks and interlocking
bricks |
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No. of Employees : |
65 |
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 Complaint |
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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) |
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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.
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Source : CIA |
Company Name :
SIMSIMA TILES & BLOCKS & INTERLOCK FACTORY
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
1st January 1991
Commercial Registration Number :
9643, Doha
Membership Number :
140/1
Issued Capital :
QR 600,000
Paid up Capital :
QR 600,000
Total Workforce :
65
Activities :
Manufacturers of tiles, blocks and interlocking bricks
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
SIMSIMA TILES & BLOCKS & INTERLOCK FACTORY
Street : Street No.
41
Area : Industrial Area
PO Box : 3082
Town : Doha
Country : Qatar
Telephone : (974) 44501089
Facsimile : (974) 44506519
/ 44442264
Mobile : (974)
55857064 / 66221044
Email : info@simsimacement.com
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Doha.
Name Position
· Nasser Rashid Al Kaabi Managing
Director
· Rashid Nasser Rashid Al Kaabi Director
· Ahmed Nasser Rashid Al Kaabi Director
· Abdul Hakim Al Khatib General
Manager
· Fadi Saab Finance
Manager
Date of
Establishment : 1st
January 1991
Legal Form : With Limited Liability
- WLL
Commercial Reg.
No. : 9643, Doha
Membership No. : 140/1
Issued Capital : QR 600,000
Paid up Capital : QR 600,000
· Nasser Rashid Al Kaabi
· Rashid Nasser Rashid Al Kaabi
· Ahmed Nasser Rashid Al Kaabi
Activities: Engaged in the manufacture of tiles, blocks and interlocking bricks.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 65 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
12,750,000 QR
14,000,000
Local sources consider subject’s financial condition to be Fair.
·
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.88 |
|
UK Pound |
1 |
Rs.103.94 |
|
Euro |
1 |
Rs.88.09 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.