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Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MANAR AL OMRAN
SCAFFOLDING CO WLL |
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Registered Office : |
Entrance C, 1st
Floor, Al Kuwari Building, Al Sadd Street, 31787 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
23.03.2008 |
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Com. Reg. No.: |
40234, Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged in the supply,
rental and erection of scaffolding and construction equipment |
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No. of Employees |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
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 : MANAR AL
OMRAN SCAFFOLDING CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 23rd
March 2008
Commercial
Registration Number : 40234,
Doha
Issued Capital : QR
200,000
Paid up Capital : QR
200,000
Total Workforce : 65
Activities :
Supply and rental of scaffolding and construction equipment
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MANAR AL OMRAN
SCAFFOLDING CO WLL
Location : Entrance C, 1st Floor, Al
Kuwari Building
Street : Al Sadd Street
PO Box : 31787
Town : Doha
Country : Qatar
Telephone : (974) 44447233 / 44447200
Facsimile : (974) 44447255 / 44447211
Email : doha@manar.com.sa
Please note that
the correct PO Box number is 31787 and not 31789.
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
Name Nationality Position
·
Maher
Salman Al Harbi Saudi Managing
Director
·
Obaid
Salman Al Harbi Saudi Director
·
Alaa Hussain
Al Satari - General
Manager
·
Emad Al
Ashraf - Accounts
Manager
·
Abdul
Latif - Sales
Manager
Date of Establishment : 23rd
March 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 40234, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Maher
Salman Al Harbi
·
Obaid
Salman Al Harbi
·
Manar
Al Omran Scaffolding
Saudi Arabia
Activities: Engaged in the supply, rental and erection
of scaffolding and construction equipment.
Operating Trend: Steady
Subject has a
workforce of 65 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 12,800,000 QR 14,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.04 |
|
|
1 |
Rs.101.31 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
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.