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Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
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Name : |
STONE GALLERY WLL |
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Registered Office : |
Street No. 38,
Gate No. 18, Industrial Area No. 57, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.11.2010 |
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Com. Reg. No.: |
47625, |
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Legal Form : |
With Limited Liability |
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Line of Business : |
importer and distributor of marble and other
natural stone. |
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No. of Employees : |
02 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : STONE GALLERY WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st November 2010
Commercial Registration Number : 47625, Doha
Membership Number : 22532
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 2
Activities : Distributors of marble and other natural stone
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
STONE GALLERY WLL
Registered &
Physical Address
Street : Street No. 38, Gate No. 18
Area : Industrial Area No. 57
PO Box : 201625 & 15976
Town : Doha
Country : Qatar
Telephone : (974) 44513918
Facsimile : (974) 44413398 / 44514014
Mobile : (974) 33149123
Email : info@stonegalleryqatar.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Doha.
Name Nationality Position
·
Zulfaqar
Qassim Momen Indian Managing
Director
·
Ali
Ahmed Al Obaidly Qatari Director
Date of Establishment : 1st
November 2010
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 47625, Doha
Membership
No. : 22532
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
·
Zulfaqar
Qassim Momen
·
Ali
Ahmed Al Obaidly
Activities: Engaged in the import and distribution of
marble and other natural stone.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 2 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 6,800,000 QR 7,470,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Abdullah Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
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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 |
|
<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.