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Report Date : |
16.08.2014 |
IDENTIFICATION DETAILS
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Name : |
QATAR INTERNATIONAL PETROLEUM MARKETING CO LTD QJSC (TASWEEQ) |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29.07.2007 |
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Com. Reg. No.: |
36570, |
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Legal Form : |
Qatar Joint Stock Company - QJSC |
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Line of Business : |
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Engaged in the export of liquefied petroleum gas (LPG), refined
products, condensates and sulphur. ·
Subject
also deals in crude oil and GTL entitlements on behalf of Qatar Petroleum
under an agency agreement. |
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No. of Employees |
140 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 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
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Source
: CIA |
Company Name : QATAR INTERNATIONAL PETROLEUM MARKETING CO
LTD QJSC (TASWEEQ)
Country of Origin : Qatar
Legal Form : Qatar Joint Stock Company - QJSC
Registration Date : 29th July 2007
Commercial Registration Number : 36570, Doha
Chamber Membership Number : 14306
Issued Capital : QR 150,000,000
Paid up Capital : QR 150,000,000
Total Workforce : 140
Activities :
Exporters of liquefied petroleum gas
(LPG), refined products, condensates
and sulphur.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
QATAR INTERNATIONAL PETROLEUM MARKETING CO LTD QJSC (TASWEEQ)
Building : Renaissance
Office Tower, 8th & 12th Floors
Area : West Bay
PO Box : 24183
Town : Doha
Country : Qatar
Telephone : (974) 44976111 / 44976248
Facsimile : (974) 44976270 / 44976280
Email : jdhariaraja@tasweeq.co.qa
/ info@tasweeq.com.qa
Please note that subject’s previous address was, Al Maha Building,
Mohammed Bin Thani Street, Doha.
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
· One Raffles Place Office
premises
Office No. 41-01,
OIB Centre
Singapore 048616
Tel: (65) 65728600
Fax: (65) 65728601
Name Position
· Dr Mohamed Bin Saleh Al Sada Chairman
· Nasser Al Jaidah Vice
Chairman
·
Khalid Mohamed Al Hitmi Director
·
Mohamed Al Thani Director
·
Abdul Rahman Ahmed Al Shaibi Director
·
Taieb Belmahdi Director
· Saad Abdullah Al Khuwari Chief
Executive Officer
· Anton Bray Director
· Roger Hekman Director
· Oliver Nordel Director
· Basheer Al Kholaifi Procurement
Manager
· Joseph Dhariarja Finance
Manager
· Abdulla Al Marri Public
Relations Manager
Date of
Establishment : 29th
July 2007
Legal Form : Qatar Joint Stock
Company - QJSC
Commercial Reg.
No. : 36570, Doha
Chamber Member No. : 14306
Issued Capital : QR 150,000,000
Paid up Capital : QR 150,000,000
Name of Shareholder
(s) Percentage
· Government of
Qatar 100%
Activities: Engaged in the export of liquefied petroleum gas
(LPG), refined products, condensates and sulphur.
Subject also deals in crude oil and GTL
entitlements on behalf of Qatar Petroleum under an agency
agreement.
Subject
signed a Joint Venture Agreement with Siam Cement Group (or SCG) and its
Vietnamese
partners in Bangkok in February 2012 to invest in the petrochemicals
complex in Long Son Island in
southern Vietnam, valued at approximately US$ 4.5 billion. Tasweeq and
PV GAS (a subsidiary of Petro
Vietnam) signed a long- term feedstock agreement to supply propane and
naphtha to the petrochemical
complex.
Import Countries: Europe and the Far East.
Subject has a workforce of 140 employees.
Companies registered in Qatar are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Qatar National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.06 |
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1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
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 |
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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.