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Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
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Name : |
NOVELLE COMMUNICATION WLL |
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Registered Office : |
Al Muntazah Area |
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Country : |
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Date of Incorporation : |
01.10.2012 |
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Com. Reg. No.: |
57545 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject is engaged in the import and distribution of data and communication
cables and fibre optic products |
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No. of Employees : |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
A2 |
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 : NOVELLE COMMUNICATION WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st October 2012
Commercial Registration Number : 57545
Membership Number : 30284
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 8
Activities : Distributors of data and communication cables and fibre optic products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
NOVELLE COMMUNICATION WLL
Location : Al Muntazah
Area
PO Box : 24545
Town : Doha
Country : Qatar
Telephone : (974) 44312606
Facsimile : (974) 44415840
Mobile : (974)
66000916
Email : sales@novellecom.com
/ info@techlogiks.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
· Sajd Adib Hussain Canadian Managing
Director
· Sochil Simon Indian Director
· Hayat Mohamed Ali Qatari Director
· Bheemiah Muckatira - Business
Development Manager
Date of
Establishment : 1st
October 2012
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 57545
Membership No. : 30284
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Sajd Adib Hussain
· Sochil Simon
· Hayat Mohamed Ali
Activities: Engaged in the import and distribution of data and communication cables
and fibre optic products.
Import Countries: Europe and the Far East.
Subject has a workforce of 8 employees.
Companies registered in Qatar are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Doha Bank Ltd
Mushaireb
PO Box: 2822
Doha
Tel: (974) 44437555
Fax: (974) 44436868
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.63 |
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|
1 |
Rs.101.25 |
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Euro |
1 |
Rs.83.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.