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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
PLAZADO VENTURES LTD LLC |
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Registered Office : |
Al Mana Business Centre No. 2, Office No. 24, PO Box : 22029, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.05.2012 |
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Com. Reg. No.: |
55822, Doha |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of marble, stone,
slabs and construction materials. |
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No. of Employees : |
15 |
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
|
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 :
PLAZADO VENTURES LTD LLC
Country of Origin :
Qatar
Legal Form :
Limited Liability Company - LLC
Registration Date :
17th May 2012
Commercial Registration Number :
55822, Doha
Chamber Membership Number :
289/1
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
15
Activities :
Distributors of marble, stone, slabs and construction materials
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
PLAZADO VENTURES
LTD LLC
Registered &
Physical Address
Location : Al Mana Business
Centre No. 2, Office No. 24
PO Box :
22029
Town : Doha
Country : Qatar
Telephone : (974) 44438305
Facsimile : (974) 44321952
Email : info@plazadogroup.com
/ sales@plazadogroup.com
/ info@theplazadogroup.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
Stefos Koullouros Cypriot Managing
Director
Nikolaos Pipitsoulis Greek Director
Abdulrahman Mansoor Al Mansoor Qatari Director
Ares Anagostopoulos - Commercial
Manager
Date of Establishment : 17th May 2012
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 55822, Doha
Chamber Member No. : 289/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
Abdulrahman Mansoor Al Mansoor
Stefos Koullouros
Nikolaos Pipitsoulis
Activities: Engaged in the
import and distribution of marble, stone, slabs and construction materials.
Import Countries: Europe
and the Far East
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year Ending 31/12/13:
Total Sales QR
7,250,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
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.
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.62.28 |
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|
1 |
Rs.103.84 |
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Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.