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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
AL MAYA
INTERNATIONAL WLL (QATAR) |
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Registered Office : |
Eid Bin Mohd Building,
3rd Floor, Office No. 9, 58 Sohaim Bin Hamed Street, 37366 |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.05.2006 |
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Com. Reg. No.: |
32922, Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Import and
distribution of general foodstuff products and ready-made garments. |
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No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : AL MAYA
INTERNATIONAL WLL (QATAR)
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 1st
May 2006
Commercial
Registration Number : 32922,
Doha
Member Number : 11784
Issued Capital : QR
200,000
Paid up Capital : QR
200,000
Total Workforce : 60
Activities :
Distributors of general foodstuff products and ready-made garments
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vashdev
Mulchandani, General Manager
AL MAYA INTERNATIONAL
WLL (QATAR)
Building : Eid Bin Mohd Building, 3rd Floor,
Office No. 9
Street : 58 Sohaim Bin Hamed Street
PO Box : 37366
Town : Doha
Country : Qatar
Telephone : (974) 44416441 / 44410890
Facsimile : (974) 44319170
Mobile : (974) 55560389
Email : aljadeed@qatar.net.qa / almaya@almayaqatar.com.qa
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Name Position
·
Ahmed Saleh Al Khalaqi Managing
Director
·
Vashdev Mulchandani General
Manager
·
Arvind
Kumar Sales
Manager
Date of Establishment : 1st
May 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 32922, Doha
Chamber
Member No. : 11784
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s) Percentage
·
Ahmed Saleh Al Khalaqi 51%
·
Al Maya International FZC 49%
Dubai
United Arab Emirates
·
Al
Jazira Poultry Farm LLC
Dubai
United Arab Emirates
·
Sharjah
Shopping Centre
Sharjah
United Arab Emirates
·
Al Maya
International LLC
Muscat
Oman
·
Al Maya
International WLL
Manama
Bahrain
·
Al
Ghanim Al Maya
Safat
Kuwait
·
Al Maya
International Ltd
United Kingdom
Activities: Engaged in the import and distribution of
general foodstuff products and ready made garments.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 60 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 3,970,000 QR 4,250,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Vashdev Mulchandani,
General Manager
·
Qatar
National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
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.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.49 |
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.