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Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL KHAYRAIN SWITCHGEAR |
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Registered Office : |
Street 24, Gate 157, Industrial Area, PO Box : 37461, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.12.2010 |
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Com. Reg. No.: |
47995, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the manufacture of switchgear, panel control and
transformers. |
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No. of Employees : |
80 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source
: CIA |
Company Name :
AL KHAYRAIN SWITCHGEAR
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
8th December 2010
Commercial Registration Number :
47995, Doha
Issued Capital :
QR 2,000,000
Paid up Capital :
QR 2,000,000
Total Workforce :
80
Activities :
Manufacturers of switchgear, panel control and transformers
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Amer Shahzad, Financial Controller
AL KHAYRAIN
SWITCHGEAR
Registered & Physical
Address
Street : Street 24,
Gate 157
Area : Industrial
Area
PO Box : 37461
Town : Doha
Country : Qatar
Telephone : (974) 44165836
/ 44165838
Facsimile : (974) 44165837
Email : info@kgswitchgear.com
Premises
Subject operates from a suite of offices and a factory covering 5,000m2
that are rented and located in the Industrial Area of Doha.
Name Nationality Position
Mohamed Idriss Anwar Mohamed Mira Pakistani Managing Director
Zayed Al Mansoor Ghanim Al Saif Al Khayrain Qatari Director
Shree Kumar - General
Manager
Pandi Durai - Commercial
Manager
Bilal Arshad - Financial
Manager
Amer Shahzad - Financial
Controller
Date of Establishment : 8th December 2010
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 47995, Doha
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Name of
Shareholder (s)
Mohamed Idriss Anwar Mohamed Mira
Zayed Al Mansoor Ghanim Al Saif Al Khayarin
Al Khayrain Group Trading & Contracting WLL
Doha
Activities: Engaged in the
manufacture of switchgear, panel control and transformers.
Import Countries: Europe
and the Far East
Operating Trend: Steady
Subject has a workforce of 80 employees.
FINANCIAL DATA
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
13,480,000 QR
15,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Amer Shahzad, Financial Controller
Commercial Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
No complaints regarding subject’s payments have been reported.
According to local sources, subject meets its payment obligations in a
timely manner and the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
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|
1 |
Rs.103.93 |
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Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
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.