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Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL
DISPLAY SYSTEM |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 (Estimated) |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
15397, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of Display Chillers, Chest Freezers Display
Units and Shelves. |
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No of Employees : |
10 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 is driven largely by
changes in oil prices and by investment in the energy sector. 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
50% 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 about 57 years. Qatar's proved reserves of natural gas
exceed 25 trillion cubic meters, about 13% of the world total and third largest
in the world. Qatar's successful 2022 World Cup bid is accelerating large-scale
infrastructure projects such as Qatar's metro system, light rail system, the
construction of a new port, roads, stadiums and related sporting
infrastructure. The new Hamad International Airport is expected to open in
mid-2014 with an annual passenger capacity of 24 million on initial opening and
50 million when complete.
|
Source
: CIA |
Concern Name : INTERNATIONAL DISPLAY SYSTEM
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1st January 1991
Commercial Registration Number : 15397, Doha
Chamber Membership Number : 1402
Invested Capital : QR 200,000
Total Workforce : 10
Activities : Distributors of display chillers, chest freezers display units and shelves.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ms. Libby Lijo, Accountant
INTERNATIONAL DISPLAY SYSTEM
Registered &
Physical Address
Street : B Ring Road
Area : Montazah Area
PO Box : 3652
Town : Doha
Country :
Telephone : (974) 44438738
Facsimile : (974) 44438738
Mobile : (974) 55500891
Email : mbnn123@gmail.com
Please note that
subject’s previous address was, Sharah Kahrabah Area, Doha.
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Doha.
Name Position
·
Mohamed
Abdulwahab Mohamed Abbass Proprietor
& General Manager
·
T G
Matthew Assistant
General Manager
·
Rajesh Krishnan Sales
Manager
·
Ms.
Libby Lijo Accountant
Date of Establishment : 1st
January 1991
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 15397, Doha
Chamber Member No. : 1402
Invested Capital
: QR 200,000
Mr. Mohamed
Abdulwahab Mohamed Abbass is the sole proprietor of the business.
·
Middle
East Refrigeration Co LLC
Ajman
United Arab Emirates
Activities: Engaged in the import and distribution of
display chillers, chest freezers display units and shelves.
Import
Countries: Italy and China.
International Suppliers:
·
ARNEG Italy
·
Interac Italy
·
Carrier China
Operating Trend: Steady
Subject has a
workforce of 10 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 15,000,000 QR 15,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
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 business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
UK Pound |
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
-- |
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.