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Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
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Name : |
SEASHORE TRADING WLL |
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Registered Office : |
Najma Al Harj Souq,
Al Khor Industrial Area, P O Box 60010, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
24.08.2004 |
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Com. Reg. No.: |
28774/4 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
importer and distributor of industrial equipment, personal protection, lifting and drilling equipment, including sight glass, warning tapes, signs and identification, traffic barriers and warning lights, lifting equipment and accessories, drilling, grinding and sawing machines, drill bits, discs and accessories, all kind of tools and tool kits, pneumatic machines, dust extractor, blower and heat guns, drilling, major suppliers of SS and CS fasteners and fittings, flanges, valves and fittings, pipes, tubes, plates and sheets and forged and butt weld fittings. |
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No. of Employees : |
60 |
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 |
B1 |
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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 : SEASHORE TRADING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 24th August 2004
Commercial Registration Number : 28774/4
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 60
Activities : Distributors of industrial equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SEASHORE TRADING
WLL
Registered &
Physical Address
Location : Najma Al Harj Souq, Al Khor
Industrial Area
PO Box : 60010
Town : Doha
Country : Qatar
Telephone : (974) 44720616 / 44722843 / 44722844
/ 44722218 / 44722219
Facsimile : (974) 44720564
Email : trading@seashoregroup.qa / seashore@qatar.net.qa
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Doha.
Name Position
·
Sayed
Salem Al Mohanadi Managing
Director
·
Salem
Sayed Salem Al Mohanadi Director
·
E S
Shareef General
Manager
·
Bab
Raju Accounts
Manager
·
Anil
Kumar Financial
Manager
Date of Establishment : 24th
August 2004
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 28774/4
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Seashore
Engineering & Contracting WLL
Doha
·
Seashore Galvanizing Factory
·
Seashore Waste Management
·
Seashore Heavy Equipment & Logistics
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Seashore Hydraulics and Fuel Injection Systems
·
Seashore Trading Company
·
Seashore Stevedoring Company
·
Seashore Food Center
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Seashore Tiles & Pavers
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Seashore Steel & Pipes
·
Seashore Tyre recycling Factory
·
Seashore Instrumentation & Automation Solutions
(SIAS)
Activities: Engaged in the import and distribution of
industrial equipment, personal protection, lifting and drilling
equipment, including sight glass, warning tapes, signs and identification, traffic barriers and warning lights, lifting equipment and accessories, drilling, grinding and sawing machines, drill bits, discs and accessories, all kind of tools and tool kits, pneumatic machines, dust extractor, blower and heat guns, drilling, major suppliers of SS and CS fasteners and fittings, flanges, valves and fittings, pipes, tubes, plates and sheets and forged and butt weld fittings.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 60 employees.
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue QR 14,700,000 QR 15,410,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank
Saderat Iran
PO Box: 2256
Doha
Tel: (974) 44430346 / 44430344
Fax: (974) 44430121
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.62.24 |
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|
1 |
Rs.102.17 |
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Euro |
1 |
Rs.84.82 |
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 |
-- |
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.