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Report Date : |
12.09.2013 |
IDENTIFICATION DETAILS
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Name : |
AHMED KHALIL AL BAKER & SONS
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Registered Office : |
Al Baker Building D Ring Road
PO Box 9 Doha |
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Country : |
Qatar |
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Year of Incorporation : |
1950 |
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Com. Reg. No.: |
38, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject
operates several divisions : ·
Consumer Division ·
Pharmaceutical Division ·
Al Baker Pharmacy ·
Real Estate Division |
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No. of Employees : |
200 |
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 |
|
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 : AHMED KHALIL AL BAKER & SONS
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1950
Commercial Registration Number : 38, Doha
Member Number : 2708
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 200
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Jay Prakash, Accounts Manager
AHMED KHALIL AL BAKER & SONS
Building : Al Baker Building
Street : D Ring Road
PO Box : 9
Town : Doha
Country : Qatar
Telephone : (974) 44551764 / 44551765 / 44622445 / 44422224 / 44551781
Facsimile : (974) 44550621
Email : albakerq@qatar.net.qa
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Doha.
Name Position
· Yousef
Ahmed Khalil Al Baker Managing
Director
· Basim
Ahmed Khalil Al Baker Director
· Anis
K. Joseph Sales
Manager
· Jay Prakash Accounts
Manager
· Emad Munir Public
Relations Manager
· Alexander Chacko Pharmaceutical
Manager
· Wael Mohamed Tariq Real
Estate Division Manager
· Mohamed Abdullah Administration
Manager
Date of
Establishment : 1950
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 38, Doha
Member No. : 2708
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Yousef
Ahmed Khalil Al Baker
· Basim
Ahmed Khalil Al Baker
Activities: Subject’s operations are performed through the following divisions:
·
Consumer Division
Engaged
in the wholesale of fast moving consumer goods.
·
Pharmaceutical Division
Engaged
in the import and distribution of pharmaceuticals and medical supplies.
·
Al Baker Pharmacy
Operators
of a pharmacy.
·
Real Estate Division
Engaged
as real estate agents as well property development and lettings.
Import Countries: Europe and Asia
International
Suppliers:
·
Oxoid Limited United
Kingdom
Subject has a workforce of approximately 200 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.
·
HSBC Bank Middle East
Abdullah Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.100.47 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
|
-- |
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.