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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
Q TECH GROUP LIMITED WLL |
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Registered Office : |
Airport Road,
Mugleen Area, P O Box 24477, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.03.2006 |
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Com. Reg. No.: |
32485, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject engaged as
electromechanical contractors and providers of facility management services. |
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No. of Employees : |
500 |
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 : |
Good |
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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.
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Source : CIA |
Company Name : Q TECH GROUP LIMITED WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 22nd March 2006
Commercial Registration Number : 32485, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 500
Activities : Electromechanical contractors and providers of facility management
services
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mathew Varghese, General Manager
Q TECH GROUP
LIMITED WLL
Registered &
Physical Address
Street : Airport Road
Area : Mugleen Area
PO Box : 24477
Town : Doha
Country : Qatar
Telephone : (974) 44422171
Facsimile : (974) 44422172
Email : info@qtechqatar.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Arkal
Shamsddine Abdul Rasheed Indian Managing
Director
·
Sheikh
Abdulrahman Bin Jassim Ali Al Thani Qatari Director
·
Mathew
Varghese - General
Manager
·
Venay T
Thomas - Accounts
Manager
Date of Establishment : 22nd
March 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 32485, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of
Shareholder (s)
·
Arkal
Shamsddine Abdul Rasheed
·
Sheikh
Abdulrahman Bin Jassim Ali Al Thani
·
Q Tech
Switchgear WLL
Doha
·
Q Tech
System Solution WLL
Doha
·
Q Tech
Engineering WLL
Doha
Activities: Engaged as electromechanical contractors
and providers of facility management services.
Operating Trend: Steady
Subject has a
workforce of approximately 500 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 86,350,000 QR 89,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Mathew Varghese, General Manager
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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.62.24 |
|
UK Pound |
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.