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Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AFAQ MARBLE AND GRANITE WLL |
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Registered Office : |
Street No. 47 Industrial Area, Gate No. 67 PO Box 23432 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.07.2007 |
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Com. Reg. No.: |
53769, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the import and distribution of marble and granite |
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No. of Employees |
15 |
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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 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
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Source
: CIA |
Company Name : AFAQ MARBLE AND GRANITE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 15th July 2007
Commercial Registration Number : 53769, Doha
Chamber Membership Number : 27233
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 15
Activities : Distributors of marble and granite
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdul Salam Fayyad, Managing Director
AFAQ MARBLE AND GRANITE WLL
Street : Street No.
47
Area : Industrial Area,
Gate No. 67
PO Box :
23432
Town : Doha
Country : Qatar
Telephone : (974) 44685838
/ 44866735
Facsimile : (974) 44181392
/ 44866726
Email : salam77abd@yahoo.com
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
· Abdul Salam Fayyad Syrian Managing
Director
· Samer Ahmed
Shamtiyah Syrian Director
· Essa Ghaim Al
Kawari Qatari Director
Date of
Establishment : 15th
July 2007
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 53769, Doha
Chamber Member No. : 27233
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
· Abdul Salam Fayyad
· Samer Ahmed
Shamtiyah
· Essa Ghaim Al
Kawari
Activities: Engaged in the import and distribution of marble and granite.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 15 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
9,280,000 QR 9,760,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
Local sources report that subject meets its payments in a timely manner
and 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.59.21 |
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|
1 |
Rs.99.17 |
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Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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 |
-- |
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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.