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Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
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Name : |
QATAR
INTERNATIONAL CABLES COMPANY WLL (QICC) |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
02.06.2008 |
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Com. Reg. No.: |
37764, |
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Legal Form : |
With Limited Liability |
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Line of Business : |
manufacturer of Low, Medium and High Voltage Cables. |
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No of Employees : |
240
(Approximately) |
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) |
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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 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 non-associated 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 |
Company Name : QATAR INTERNATIONAL CABLES COMPANY WLL (QICC)
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2nd June 2008
Commercial Registration Number : 37764, Doha
Chamber Membership Number : 15183/1
Issued Capital : QR 90,987,000
Paid up Capital : QR 90,987,000
Total Workforce : 240
Activities : Manufacturers of low, medium and high voltage cables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shanker Raju, Financial Manager
QATAR INTERNATIONAL CABLES COMPANY WLL
(QICC)
Registered &
Physical Address
Location : Mesaieed Industrial City, Plot
92320008
PO Box : 15991
Town : Doha
Country : Qatar
Telephone : (974) 44085100 / 44673009 / 44665557 / 44085102
Facsimile : (974) 44673230 / 44650680
Mobile : (974) 55854051 / 55890445
Email : jhemid@qicc-qatar.com / info@qicc-qatar.com
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Doha.
Branch Office (s)
Location Description
·
Al
Mishaal Street Office
premises
New Salata
Doha
Name Position
·
Charles
Edward Magy General
Manager
·
Ralph
Scheidecker Plant
Manager
·
Mostaf
Dbouk Sales
Manager
·
Jawad
Hemid Human
Resources Manager
·
Shanker
Raju Financial
Manager
·
Rashid
Harout Supply
Manager
Date of Establishment : 2nd
June 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 37764, Doha
Chamber
Member No. : 15183/1
Issued Capital : QR 90,987,000
Paid up Capital : QR 90,987,000
Name of Shareholder
(s) Percentage
·
Al
Mirqab Capital 70%
Doha
·
Nexan
Participation 30%
France
Activities: Engaged in the manufacture of low, medium and high voltage cables.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a workforce
of approximately 240 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 72,100,000 QR 76,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Shanker Raju, Financial Manager
·
International
Bank of Qatar
Al Sadd
Doha
Tel: (974) 44478000
No complaints regarding
subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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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.