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Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Central Market, Salwa Road, 22515 & 31926 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.01.1982 |
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Com. Reg. No.: |
8939 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuff, utensils, household items, kitchenware, cotton products, textiles and bed sheets. |
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No of Employees : |
12 |
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) |
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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 : GULF HOUSE WHOLESALER & REPRESENTATIVE
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1st January 1982
Commercial Registration Number : 8939, Doha
Invested Capital : QR 200,000
Total Workforce : 12
Activities : Wholesalers and retailers of general foodstuff, utensils, household
items, kitchenware, cotton products and bed sheets.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ali Ahmed Al Baltaji, Assistant General Manager
GULF HOUSE
WHOLESALER & REPRESENTATIVE
Building : Central Market
Street : Salwa Road
PO Box : 22515 & 31926
Town : Doha
Country : Qatar
Telephone : (974) 44689807 / 44468406 / 44414193
Facsimile : (974) 44468406 / 44362071
Mobile : (974) 55831949 / 55544727
Email : gulfhouse@qatar.net.qa
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
Name Nationality Position
·
Ali
Ahmed Al Kawari Qatari Proprietor &
General Manager
·
Ali
Ahmed Al Baltaji Egyptian Assistant General Manager
Date of Establishment : 1st
January 1982
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 8939, Doha
Chamber Member
No. : 939
Invested Capital
: QR 200,000
Mr Ali Ahmed Al
Kawari is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
general foodstuff, utensils, household items, kitchenware,
cotton products, textiles and bed sheets.
Import
Countries: Italy, Egypt and
Pakistan.
International
Suppliers:
·
Egyptian
Terry Towels (ETT) Egypt
·
Dream
Co Egypt
·
Nawras
Ltd Pakistan
·
Verjani Italy
Operating Trend: Steady
Subject has a
workforce of 12 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 14,220,000 QR 14,650,000
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.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.29 |
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|
1 |
Rs. 99.34 |
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Euro |
1 |
Rs. 80.69 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.