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Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AL ASHRAFIYA INTERNATIONAL (QATAR) WLL |
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Registered Office : |
Al Kawari Building,
4th Floor, Al Saad Street, Abu
Hamour Area, P O Box 12410, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.07.2007 |
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Com. Reg. No.: |
360707, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
importer and distributor of general foodstuffs, specialising in seafood & dried
frozen foods. |
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No of Employees : |
55 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
Company Name : AL ASHRAFIYA INTERNATIONAL (QATAR) WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st July 2007
Commercial Registration Number : 360707, Doha
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Total Workforce : 55
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tanseen Khalid, Human Resources Manager
AL ASHRAFIYA
INTERNATIONAL (QATAR) WLL
Registered & Physical
Address
Building : Al Kawari Building, 4th
Floor
Street : Al
Saad Street
Area : Abu Hamour Area
PO Box : 12410
Town : Doha
Country : Qatar
Telephone : (974) 44509035 / 44510600 / 44510700
Facsimile : (974) 44509001
Email : info.qatar@alashrafiya.com / jkamel@alashrafiya.com / info@alashrafiya.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
Name Director Position
·
Hamad Mohamed Abdulaziz Al Wazzan Kuwaiti Managing Director
·
Abdullah Abdulaziz Al Ghanim Kuwaiti Director
·
Ahmed Mohamed Al Nuaimi Saudi Director
·
Mahmoud Ali Mohamed Mohmoud Al Yafi Qatari Director
·
Subramanian Iyer - Country
Manager
·
Tanseen Khalid - Human
Resources Manager
·
Jameel Kamal - Administration
Manager
·
Ashif
Ashraf - Accountant
Date of Establishment : 1st
July 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 360707, Doha
Issued Capital : QR 2,000,000
Paid up Capital : QR 2,000,000
Name of Shareholder
(s)
·
Hamad Mohamed Abdulaziz Al Wazzan
·
Abdullah Abdulaziz Al Ghanim
·
Ahmed Mohamed Al Nuaimi
·
Mahmoud Ali Mohamed Mohmoud Al Yafi
·
Al
Ashrafiya International Co For Foodstuff WLL
Al Jahra Street
Shuwaikh Industrial Area
PO Box: 26555 & 81
Safat 13126
Kuwait
Tel: (965) 22422422 / 24817410
/ 24817477
Fax: (965) 22447444 / 24817403
·
Al Ashrafiya International Co Foodstuff LLC
Oman
Tel: (968) 94180622
Activities: Engaged in the import and distribution of general foodstuffs, specialising in seafood & dried
frozen foods.
Import
Countries: Europe and the
Far East
International Suppliers:
·
Ananda Jagdish Schriber Dynamic Ltd India
·
JBS Australia
Operating Trend: Steady
Subject has a workforce
of 55 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 86,750,000 QR 90,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Tanseen
Khalid, Human Resources Manager
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
No complaints
regarding subject’s payments have been reported.
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.59.14 |
|
|
1 |
Rs.99.02 |
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Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.