|
Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIN OMRAN TRADING & TELECOMMUNICATIONS |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.05.2011 |
|
|
|
|
Com. Reg. No.: |
50448, |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
importer and Distributor of telecommunication
equipment, including fibre optic products, copper products, public address
systems, video surveillance products, ADSL, ISDN, transmission, switching
products, speaker cables, instrumentation cables and connectors. |
|
|
|
|
No. of Employees |
320 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Concern Name : BIN OMRAN TRADING & TELECOMMUNICATIONS
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 2nd May 2011
Commercial Registration Number : 50448, Doha
Chamber Membership Number : 24636
Invested Capital : QR 200,000
Total Workforce : 320
Activities : Distributors of telecommunication equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hussain Nabil, Accountant
BIN OMRAN TRADING & TELECOMMUNICATIONS
Registered &
Physical Address
Building : Salam Tower, 6th Floor
Area : West Bay
PO Box : 288
Town : Doha
Country : Qatar
Telephone : (974) 44833354
Facsimile : (974) 44833356
Mobile : (974) 55876928
Email : binomran@qatar.net.qa
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
Name Position
·
Mrs
Zeinab Abdul Moniem Al Badrawi Proprietor
·
Nabil
Al Hussaini General
Manager
·
Fayez
Ahmed Finance
Manager
·
Joseph
Thomas Commercial
Manager
·
Hussain
Nabil Accountant
·
Martin
Imaty Administration
Manager
Date of Establishment : 2nd
May 2011
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 50448, Doha
Chamber Member No. : 24636
Invested Capital
: QR 200,000
Mrs Zeinab Abdul
Moniem Al Badrawi is the sole proprietor of the business.
·
Bin
Omran Trading & Contracting
Bin Omran Road
PO Box: 5006
Doha
Tel: (974) 44506606 / 44861535
Fax: (974) 44504501 / 44861443
·
Bin Omran Engineering & Projects Co
Doha
Activities: Engaged in the import and distribution of
telecommunication equipment, including fibre optic products,
copper products, public
address systems, video surveillance products, ADSL, ISDN, transmission,
switching products, speaker
cables, instrumentation cables and connectors.
Import
Countries: Europe,
Singapore, China, Malaysia and the United States of America.
International
Suppliers:
·
3M
Telecom United
States of America
·
American
Polywater United States of
America
·
Aethra
Telecom Italy
·
Diamond Switzerland
·
Lancier Germany
·
Industronics Germany
·
ALH United
Kingdom
·
Transtel
Engineering Singapore
·
WRI China
·
Leader Cables Malaysia
Operating Trend:
Steady
Subject has a
workforce of approximately 320 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 Revenue QR 7,280,000 QR 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Hussain Nabil, Accountant
·
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
concern is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
-- |
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.