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Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
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Name : |
AL AHED TRADING
& CONTRACTING COMPANY WLL |
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Registered Office : |
Al Muthaf Street,
Old Salata Area 18, 3266 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.06.1975 |
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Com. Reg. No.: |
5944, Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged in the import
and distribution of gas and oilfield equipment and safety products |
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No. of Employees |
25 |
RATING & COMMENTS
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 is driven largely by changes in
oil prices and by investment in the energy sector. 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 50% 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 about 57 years. Qatar's proved reserves of natural gas exceed 25 trillion
cubic meters, about 13% of the world total and third largest in the world.
Qatar's successful 2022 World Cup bid is accelerating large-scale infrastructure
projects such as Qatar's metro system, light rail system, the construction of a
new port, roads, stadiums and related sporting infrastructure. The new Hamad
International Airport is expected to open in mid-2014 with an annual passenger
capacity of 24 million on initial opening and 50 million when complete
|
Source
: CIA |
Company Name : AL AHED
TRADING & CONTRACTING COMPANY WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 7th
June 1975
Commercial
Registration Number : 5944, Doha
Chamber Membership
Number : 260
Issued Capital : QR
12,000,000
Paid up Capital : QR
12,000,000
Total Workforce : 25
Activities :
Distributors of gas and oilfield equipment and safety products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Suresh Nayk,
Financial Controller
AL AHED TRADING
& CONTRACTING COMPANY WLL
Street : Al Muthaf Street
Area : Old Salata Area 18
PO Box : 3266
Town : Doha
Country : Qatar
Telephone : (974) 44414022 / 44414023 / 44414024
Facsimile : (974) 44414021
Email : alahed@qatar.net.qa / alahed@alahed.com.qa
Please note that
subject’s previous address was, Building No. 29, Medium Road, Road No. 129,
Doha
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Doha.
Name Position
·
Mohamed
Abdul Ghani Al Mansouri Managing
Director
·
Jaber
Ahmed Al Sulaiti Director
·
Mendoza
Sebastian Commercial
Manager
·
Suresh
Nayk Financial
Controller
Date of Establishment : 7th
June 1975
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 5944, Doha
Chamber Member No. : 260
Issued Capital : QR 12,000,000
Paid up Capital : QR 12,000,000
·
Mohamed
Abdul Ghani Al Mansouri
·
Jaber
Ahmed Al Sulaiti
·
Doha
Petroleum Construction Co
PO Box: 17474
Doha
Tel: (974) 44414023
Fax: (974) 44414021
Activities: Engaged in the import and distribution of
gas and oilfield equipment and safety products.
Import
Countries: Europe and GCC
countries.
International Suppliers:
·
John Crane United
Kingdom
·
GD
Engineering United Kingdom
·
Sund Strand France
·
Flexitallic
Middle East LLC Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of 25 employees.
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales QR 80,445,193 QR 79,105,006
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Suresh Nayk, Financial Controller
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
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.60.22 |
|
|
1 |
Rs.100.78 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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 |
-- |
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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.