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Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
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Name : |
QUALITY FOODS & SERVICE WLL |
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Registered Office : |
Building No. 91, Mosaib Bin Omar Street (Street No. 820), Zone No. 43, PO Box : 9130, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.12.2001 |
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Com. Reg. No.: |
24915, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the wholesale and retail of general
foodstuff products, including chilled, dried and tinned foods. |
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No. of Employees : |
90 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 :
QUALITY FOODS & SERVICE WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
1st December 2001
Commercial Registration Number :
24915, Doha
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
90
Activities :
Wholesale and retail of general foodstuff products, including chilled, dried
and tinned foods.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mins Thomas, Finance Manager
QUALITY FOODS
& SERVICE WLL
Registered &
Physical Address
Building : Building No.
91
Street : Mosaib Bin
Omar Street (Street No. 820)
Area : Zone No. 43
PO Box : 9130
Town : Doha
Country : Qatar
Telephone : (974) 44419190
Facsimile : (974) 44418180
Email : qfsqatar@qatar.net.qa / saleqfs@qgcqatar.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
Street No. 1 Warehouse
premises
Industrial Area
Doha
Tel: (974) 44500901 /
44503935 / 44604785
Fax: (974) 44500902
Name Nationality Position
Shams
Uddine Olakar Abdullah Kuti Indian Managing
Director
Sheikh Jassim Thamer Issa Bin Thamer Al Thani Qatari Director
Abdulaziz Valakateel - General Manager
Mins Thomas - Finance
Manager
Mohiddine Kutti - Administration
Manager
Date of Establishment : 1st December 2001
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 24915, Doha
Chamber Member No.
: 6466
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s) Percentage
Sheikh Jassim Thamer Issa Bin Thamer Al Thani 51%
Shams
Uddine Olakar Abdullah Kuti 49%
Qatar Food & Service WLL
Industrial Area, Street No. 1
PO Box: 9130
Doha
Tel: (974) 4500801
Fax: (974) 4500802
Email: qatarfood@gmail.com
Est: 22/04/2004
CR No. 25999
Quality Engineering & Services WLL
Doha
Quality Printing Press WLL
Doha
Quality Hydraulic Services WLL
Doha
Quality Auto Parts WLL
Doha
Quality Hypermarket WLL
Doha
Fabulous Foodstuffs LLC
Dubai
United Arab Emirates
Tel: (971-4) 2673772
Fax: (971-4) 2675227
Activities: Engaged in the wholesale and
retail of general foodstuff products, including chilled, dried and tinned
foods.
Import Countries: Europe
and the Far East
Operating Trend: Steady
Subject has a workforce of 90 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
75,360,000 QR
82,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mins Thomas, Finance Manager
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
Date of transaction June
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
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.61.12 |
|
|
1 |
Rs.102.71 |
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Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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.