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Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL RAIS TRADING ESTABLISHMENT |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.11.1993 |
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Com. Reg. No.: |
6771, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import, distribution of household
appliances, including refrigerators, televisions, deep freezers, irons,
vacuum cleaners, gas cookers and other electrical household equipment. |
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No. of Employees : |
220 |
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 :
AL RAIS TRADING ESTABLISHMENT
Country of Origin :
Qatar
Legal Form :
Sole Proprietorship
Registration Date :
7th November 1993
Commercial Registration Number :
6771, Doha
Chamber Membership Number :
274/3
Invested Capital :
QR 200,000
Total Workforce :
220
Activities :
Distributors of electrical household appliances.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Rami Al Ali, Sales Manager
AL RAIS TRADING
ESTABLISHMENT
Registered &
Physical Address
Location : Al Asmakh
Street
PO Box : 3542 &
4117
Town : Doha
Country : Qatar
Telephone : (974) 44322727
/ 44438999 / 44414050 / 44422744
Facsimile : (974) 44424818
/ 44427880
Email : generalcol@qatar.net.qa
/ info@alraisgroup.com
/ sales@alraisgroup.com
/ rami@alraisgroup.com
Premises
Subject operates from a medium sized suite of offices and a showroom
with storage facilities that are rented and located in the Central Business
Area of Doha.
Branch Offices
Subject has 8 showrooms located throughout Doha.
Name Nationality Position
Abdulrazzaq Shukrullah Al Rais Qatari Proprietor
Mohamed Abdulrazzaq Shukrullah Al Rais Qatari General
Manager
Azzar Al Islam - Assistant
General Manager
Hani Shaker - Advertising
Manager
Rami Al Ali - Sales
Manager
Date of Establishment : 7th November 1993
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 6771, Doha
Chamber Member No. : 274/3
Invested Capital : QR 200,000
Mr Abdulrazzaq Shukrullah Al Rais is the sole proprietor of the
business.
Express Cooling
Doha
Al Rais Gas
Doha
Activities: Engaged in the import,
distribution of household appliances, including refrigerators, televisions,
deep freezers, irons, vacuum cleaners, gas cookers and other electrical
household equipment.
Import Countries: Malaysia
and China.
International Suppliers:
Everest Malaysia
General Col China
Media China
Agencies Held:
Techno Gas Italy
Glem Gas Italy
Operating Trend: Steady
Subject has a workforce of approximately 220 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
15,210,000 QR
16,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Rami Al Ali, Sales Manager
Bank Saderat Iran
PO Box: 2256
Doha
Tel: (974) 44430346 / 44430344
Fax: (974) 44430121
No complaints regarding subject’s payments have been reported.
Date of transaction June
2002 January
2006
Credit amount 200,000 150,000
Amount overdue 0 0
Payment terms 60 days 60 days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.94 |
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|
1 |
Rs.103.31 |
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Euro |
1 |
Rs.85.11 |
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 |
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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.