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Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
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Name : |
COVERALL TRADING CO WLL |
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Registered Office : |
Meazar Area, PO Box : 47182 & 2463, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.01.2009 |
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Com. Reg. No.: |
42044 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the import and distribution of
safety equipment and products, including gloves, coveralls, safety footwear as
well as export of scrap tyres and recycled batteries. |
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No. of Employees : |
8 |
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
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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 :
COVERALL TRADING CO WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
7th January 2009
Commercial Registration Number :
42044
Membership Number :
18533
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
8
Activities :
Distributors of safety equipment and products, as well as export of scrap tyres and recycled batteries
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COVERALL TRADING
CO WLL
Registered &
Physical Address
Location : Meazar Area
PO Box : 47182 &
2463
Town : Doha
Country : Qatar
Mobile : (974)
77128865
Email : coverall_products@hotmail.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Doha.
Name Nationality Position
Zahid Shariff Pakistani Managing
Director
Ghanim Al Khayairin Qatari Director
Faisal Haider Zai Pakistani Director
Date of Establishment : 7th January 2009
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 42044
Membership No. : 18533
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
Zahid Shariff
Ghanim Al Khayairin
Faisal Haider Zai
Activities: Engaged in the import and
distribution of safety equipment and products, including gloves, coveralls,
safety footwear as well as export of scrap tyres and recycled batteries.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 8 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 Sales QR
7,180,000 QR
7,300,000
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
Musheireb
PO Box: 1818
Doha
Tel: (974) 44423643
Fax: (974) 44415021
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
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Indian Rupees |
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US Dollar |
1 |
Rs.61.53 |
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|
1 |
Rs.100.73 |
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Euro |
1 |
Rs.83.84 |
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.