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Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
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Name : |
QATAR GULF TRADING & CONTRACTING COMPANY
WLL |
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Registered Office : |
Civil Road, Al
Najma Area, P O Box 16148, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
1990 |
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Com. Reg. No.: |
28136, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s
operations are performed through the following divisions: Trading Division Engaged in the import and distribution of plumbing materials, pipes,
valves and electrical products. Contracting Division Engaged as electromechanical contractors. Garage & Workshop Division Engaged in the
operation of automotive and mechanical maintenance garages. |
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No. of Employees |
110 |
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 |
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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.
|
Source : CIA |
Company Name : QATAR GULF TRADING & CONTRACTING COMPANY WLL
Country of Origin : Qatar
Legal Form : With Limited Liability – WLL
Start Date : 1990
Registration Date : 18th October 2004
Commercial Registration Number : 28136, Doha
Chamber Membership Number : 1/09060
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 110
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ajesh T Mathew, Technical Manager
QATAR GULF TRADING
& CONTRACTING COMPANY WLL
Registered &
Physical Address
Street : Civil Road
Area : Al Najma Area
PO Box : 16148
Town : Doha
Country : Qatar
Telephone : (974) 4432304 / 44437057
Facsimile : (974) 4372536 / 44437057
Mobile : (974) 5546081 / 55513800 /
55513700
Email : qatargulf@yahoo.co.in
Premises
Subject operates
from a large sized suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Ullah
Hanan Thomas Indian Managing
Director
·
Sayed
Saif Al Manai Qatari Director
·
Thomas
Mathew - Commercial
Manager
·
Abraham
Zakaria - Financial
Controller
·
Ajesh T
Mathew - Technical
Manager
Date of Establishment : 1990, however
subject was registered on 18th October 2004
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 29136, Doha
Chamber Member No. : 1/09060
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
·
Sayed
Saif Al Manai 51%
·
Ullah
Hanan Thomas 49%
Activities: Subject’s operations are performed through
the following divisions:
·
Trading Division
Engaged in the import and
distribution of plumbing materials, pipes, valves and electrical products.
·
Contracting Division
Engaged as electromechanical contractors.
·
Garage & Workshop Division
Engaged in the operation of
automotive and mechanical maintenance garages.
Import
Countries: Europe and the
Far East
International
Suppliers:
·
Hepworth United Kingdom
·
Gulf
Plastic Bahrain
·
Banniger Germany
·
Siniar
Fans India
Operating Trend: Steady
Subject has a
workforce of 110 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 27,600,000 QR 28,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Qatar
National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 4413511 / 4407407
Fax: (974) 4415020
·
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.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed 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
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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.