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Report Date : |
21.06.2014 |
IDENTIFICATION DETAILS
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Name : |
BLUDAN TRADING WLL |
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Registered Office : |
Al Nasser Street
Al Nasser Area PO Box 3002: Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
18.07.1993 |
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Com. Reg. No.: |
15585 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuffs, including
sugar, rice, edible oils and evaporated milk |
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No. of Employees |
50 |
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 : BLUDAN TRADING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 18th July 1993
Commercial Registration Number : 15585
Membership Number : 803
Issued Capital : QR 5,000,000
Paid up Capital : QR 5,000,000
Total Workforce : 50
Activities : Wholesalers and retailers of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
BLUDAN TRADING WLL
Street : Al Nasser Street
Area : Al Nasser Area
PO Box : 3002
Town : Doha
Country : Qatar
Telephone : (974) 44696700
Facsimile : (974) 44696626
Email : davis@intertecqatar.com
Subject operates from a medium sized suite of offices and a showroom that
are rented and located in the Central Business Area of Doha.
Name Position
· Khalifa Abdullah Turki Al Subai Managing
Director
· Abdullah Turki Al Subai Director
· Davis Eduka General
Manager
Date of
Establishment : 18th
July 1993
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 15585
Membership No. : 803
Issued Capital : QR 5,000,000
Paid up Capital : QR 5,000,000
· Khalifa Abdullah Turki Al Subai
· Abdullah Turki Al Subai
· Intertec Group WLL
Doha
Activities: Engaged in the wholesale and retail of general foodstuffs, including
sugar, rice, edible oils and evaporated milk. Subject has a fleet of 15
delivery vehicles.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 50 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
26,000,000 QR
27,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Qatar National Bank
Musheireb
PO Box: 1818
Doha
Tel: (974) 44423643
Fax: (974) 44415021
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 company 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.60.28 |
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|
1 |
Rs.102.77 |
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Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.