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Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MANAI HOSPITALITY WLL |
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Registered Office : |
Azdan Mall, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.06.2010 |
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Com. Reg. No.: |
46279, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s operations
are performed through the following divisions: ·
Hospitality Division Engaged in the operation of a Lebanese
restaurant called “Al Balad Restaurant”. ·
Sweets Division Engaged in the import and distribution of sweets, pastries and
confectionery items. |
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No. of Employees : |
65 |
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 01, 2014
|
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 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 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 : AL MANAI HOSPITALITY
WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 17th
June 2010
Commercial Registration
Number : 46279, Doha
Membership Number : 21592
Issued Capital : QR
200,000
Paid up Capital : QR
200,000
Total Workforce : 65
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Eslam Mohsin, Sales Manager
AL MANAI
HOSPITALITY WLL
Building : Azdan Mall
Street : North Ring Road
PO Box : 55212
Town : Doha
Country : Qatar
Telephone : (974) 44660026
Facsimile : (974) 44660027
Mobile : (974) 77647418
Email : eslamm@almanaihospitality.com /
roland@almanihospitality.com
Please note that
subject’s previous address was, Al Emadi Financial Square, 2nd
Floor, Office No. 9, Block 2, C Ring Road, Doha.
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Issa
Hamid Issa Al Manai Qatari Managing Director
·
Roland
Sami Al Hadad Lebanese Director
·
Eslam Mohsin - Sales Manager
Date of Establishment : 17th
June 2010
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 46279, Doha
Membership
No. : 21592
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Issa
Hamid Issa Al Manai
·
Roland
Sami Al Hadad
Activities: Subject’s operations are performed through
the following divisions:
·
Hospitality Division
Engaged in the operation of a Lebanese restaurant
called “Al Balad Restaurant”.
·
Sweets Division
Engaged in the import and distribution of sweets, pastries and
confectionery items.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 65 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 14,200,000 QR 14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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.60.73 |
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1 |
Rs.101.48 |
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Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.