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Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
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Name : |
ORIENTAL CARPET CO WLL |
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Registered Office : |
Suhaim Bin Hamad Road PO Box 2524 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.07.1980 |
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Com. Reg. No.: |
2595, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject is engaged in the import and distribution of handmade carpets,
furniture and handicrafts |
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No. of Employees : |
463 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 will likely accelerate large-scale infrastructure projects such as Qatar's metro system, light rail system, and the Qatar-Bahrain causeway. The Hamad International Airport is opened at the end of 2013 with an annual passenger capacity of 24 million
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Source
: CIA |
Company Name : ORIENTAL CARPET CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 15th July 1980
Commercial Registration Number : 2595, Doha
Membership Number : 463
Issued Capital : QR 300,000
Paid up Capital : QR 300,000
Total Workforce : 10
Activities : Distributors of handmade carpets, furniture and handicrafts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ORIENTAL CARPET CO WLL
Location : Suhaim Bin
Hamad Road
PO Box : 2524
Town : Doha
Country : Qatar
Telephone : (974) 44131850
/ 44479794
Facsimile : (974) 44875467
Email : carpetco@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
· Nadir Gulaga British Managing Director
· Sheikh Abdulrahman
Ahmed Mohamed Ahmed Al Thani Qatari Director
· Shams Eddine Peer
Mohamed - Sales
Manager
· Zubair Korpallay - Accountant
Date of
Establishment : 15th
July 1980
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 2595, Doha
Membership No. : 463
Issued Capital : QR 300,000
Paid up Capital : QR 300,000
NAME OF SHAREHOLDER
(S)
· Nadir Gulaga
· Sheikh Abdulrahman
Ahmed Mohamed Ahmed Al Thani
Activities: Engaged in the import and distribution of handmade carpets, furniture
and handicrafts.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of 10 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
14,725,000 QR
15,030,000
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
Salwa Road
PO Box: 2176
Doha
Tel: (974) 44882180 / 44884888 / 44882181
Fax: (974) 44881768
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 |
|
US Dollar |
1 |
Rs.61.86 |
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|
1 |
Rs.103.52 |
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Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
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 |
-- |
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.