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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SUNCON WLL TRADING & CONTRACTING |
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Registered Office : |
Building No. 1, Shop
No. 20, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.10.2011 |
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Com. Reg. No.: |
52604, |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subjects
operations are performed through the following divisions: Foodstuff Division Engaged in the import and distribution of general foodstuffs.
Contracting
Division Engaged as general contractors for civil and electric foundation works. |
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No. of Employees : |
100 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Qatar |
B1 |
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 grew sharply in 2010 largely
due to the increase in oil prices, and 2011's growth was supported by Qatar's
investment in expanding its gas sector. GDP slowed to 6.6% in 2012 as Qatar''s
gas sector expansion moved toward completion. 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 70% 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 57 years. Qatar''s proved reserves of natural gas exceed 25 trillion cubic
meters, more than 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 projected to
open by the end of 2013 with an annual passenger capacity of 24 million.
|
Source : CIA |
Company Name : SUNCON WLL TRADING & CONTRACTING
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 4th October 2011
Commercial Registration Number : 52604, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 100
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samba Shiva Rao, Managing Director
SUNCON WLL TRADING
& CONTRACTING
Registered &
Physical Address
Building : Building No. 1, Shop No. 20
Area : Barwa Village
PO Box : 202293
Town : Doha
Country : Qatar
Telephone : (974) 44550945
Facsimile : (974) 44817437
Mobile : (974) 55831779
Email : suncons@ymail.com
Premises
Subject operates
from a medium sized suite of offices and a shop that are rented and located in
the Central Business Area of Doha.
Name Nationality Position
·
Samba
Shiva Rao Indian Managing
Director
·
Hassan
Yousef Al Baker Qatari Director
Date of Establishment : 4th
October 2011
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 52604, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Samba
Shiva Rao
·
Hassan
Yousef Al Baker
Activities: Subjects operations are performed through
the following divisions:
·
Foodstuff Division
Engaged in the import and distribution of general foodstuffs.
·
Contracting Division
Engaged as general contractors
for civil and electric foundation works.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 100 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 24,100,000 QR 25,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Paribas
PO Box: 2636
Doha
Tel: (974) 44430346 / 44430344
Fax: (974) 44430121
No complaints regarding
subject’s payments have been reported.
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.62.45 |
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|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.