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Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
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Name : |
TOTAL PETROCHEMICALS |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.11.2004 |
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Com. Reg. No.: |
29251, |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Subject is engaged
in the marketing of QAPCO & QATFIN products that include LDPE, LLPDE as
well as polyethylene. |
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No. of Employees : |
16 |
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 : |
Branch of a Foreign Registered Corporation |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Qatar |
B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 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 opened at the
end of 2013 with an annual passenger capacity of 24 million.
|
Source
: CIA |
Company Name :
TOTAL PETROCHEMICALS
Country of Origin :
France
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
8th November 2004
Commercial Registration Number :
29251, Doha
Chamber Membership Number :
9132/1
Total Workforce :
16
Activities :
Marketing of QAPCO & QATFIN products that
include LDPE, LLPDE as well as polyethylene
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Jazther Mangubat, Finance Manager
TOTAL PETROCHEMICALS
FRANCE (QATAR BRANCH OFFICE)
Registered &
Physical Address
Building : Al Fardan Tower, 13th Floor
Street : 61 Al Funduq Street
Area : West Bay
PO Box : 5177
Town : Doha
Country : Qatar
Telephone : (974) 44208360 / 44417373
Facsimile : (974) 44980794
Mobile : (974)
55897386
Email : jean-luc.layrisse@total.com
/ jazther.managubat@total.com
/ allan.cramer@total.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Position
Jean-Luc Mayrisse General
Manager
Allan Cramer Administration
Manager
Jazther Mangubat Finance
Manager
Madhu Soodanan Logistics
Manager
Date of Establishment : 8th November 2004
Legal Form : Subject is the
Qatar registered branch of Total Petrochemicals France SA, a Limited Liability
Company incorporated in France.
A Branch of a Foreign Registered
Corporation is not a legal entity in its own right.
Responsibility for payments lays in the
hands of the company where it is originally registered.
Under these circumstances, we strongly
advise that any international trade credit should only be written under the name of the main
company where the subject holds its registered office, in this case France
Commercial Reg. No. : 29251, Doha
Chamber Member No. : 9132/1
Activities: Engaged in the marketing of QAPCO & QATFIN products that include
LDPE, LLPDE as well as polyethylene.
Import Countries: France
Export Countries: South Asia, North Asia, Europe, South America as well as North &
East Africa
Operating Trend: Steady
Subject has a workforce of 16 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 Marketing Fees QR
67,241,604 QR
69,084,917
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Commercial Bank of Qatar Ltd (QSC)
West Bay
PO Box: 3232
Doha
Tel: (974) 44831575
Fax: (974) 44831573
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.61.18 |
|
|
1 |
Rs.102.55 |
|
Euro |
1 |
Rs.81.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
|
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.