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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DECENT UNIFORM
WORKS |
|
|
|
|
Registered Office : |
Bin Mahmoud Area,
3934 Doha |
|
|
|
|
Country : |
Qatar |
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|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
23.04.2012 |
|
|
|
|
Legal Form : |
With Limited
Liability - WLL |
|
|
|
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Line of Business : |
Engaged in the
manufacture of a wide range of uniforms. |
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|
|
|
No. of Employees |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
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 : DECENT
UNIFORM WORKS
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 23rd
April 2012
Trade Licence
Number : 53561,
Doha
Issued Capital : QR
200,000
Paid up Capital : QR
200,000
Total Workforce : 80
Activities :
Manufacturers of a wide range of uniforms
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
DECENT UNIFORM
WORKS
Location : Bin Mahmoud Area
PO Box : 3934
Town : Doha
Country : Qatar
Telephone : (974) 44358311
Facsimile : (974) 44364007
Mobile : (974) 55128330 / 55564146
Email : ilyas@prominentqatar.com
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Central Business Area of Doha.
Name Nationality Position
·
Abdul
Rasheed Abdul Waheed Indian Managing
Director
·
Fahd Jassim
Abdullah Al Hamd Al Thani Qatari Director
·
Ilyas
Ahmed - Operations
Manager
·
Abdul
Mateen - Commercial
Manager
Date of Establishment : 23rd
April 2012
Legal Form :
With Limited Liability -
WLL
Trade Licence No. : 53561,
Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Abdul
Rasheed Abdul Waheed
·
Fahd
Jassim Abdullah Al Hamd Al Thani
Activities: Engaged in the manufacture of a wide range
of uniforms.
Subject has a
workforce of 80 employees.
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/13:
Total sales QR
15,200,000
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 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.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
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 |
|
|
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 |
|
|
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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.