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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
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Name : |
DEIMAJ GROUP WLL |
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Registered Office : |
Moosa Bin Nossair
Street, New Doha Area, P O Box 19658, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.03.2003 |
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Com. Reg. No.: |
25992, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s
activities are performed through the following divisions: General Trading Division Engaged in the import and distribution of household items, cosmetics and general foodstuff products. Supermarket Division Operators of three supermarkets located throughout Doha. Stationery Division Engaged in the import and distribution of stationery products. Tailoring Division Engaged in the provision of tailoring services and textile trading. Media Division Engaged in the provision of Indian movie channels and agents. |
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No of Employees : |
41 |
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) |
|
Qatar |
A2 |
A2 |
|
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.
|
Source
: CIA |
Company Name : DEIMAJ GROUP WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 20th March 2003
Commercial Registration Number : 25992, Doha
Membership Number : 7081
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 41
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Ajibul Ali, Financial Controller
DEIMAJ GROUP WLL
Registered &
Physical Address
Street : Moosa Bin Nossair Street
Area : New Doha Area
PO Box : 19658
Town : Doha
Country : Qatar
Telephone : (974) 44322840
Facsimile : (974) 44321926
Mobile : (974) 33512054
Email : deimaj@qatar.net.qa / deimajgroup@gmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Suburban Business Area of Doha
Name Nationality Position
·
Edakulathoor
Itoop Johnson Indian Managing Director
·
Hamad
Ibrahim Al Mana Qatari Director
·
Murli
Dharren - General
Manager
·
N Peter - Administration
Manager
·
Mohamed
Ajibul Ali - Financial
Controller
·
Jaimon
Joseph - Commercial
Manager
Date of Establishment : 20th
March 2003
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 25992, Doha
Membership
No. : 7081
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder
(s) Percentage
·
Hamad
Ibrahim Al Mana 51%
Edakulathoor Itoop Johnson 49%
Activities: Subject’s activities are performed through
the following divisions:
·
General
Trading Division
Engaged
in the import and distribution of household items, cosmetics and general
foodstuff products.
·
Supermarket
Division
Operators of three
supermarkets located throughout Doha.
·
Stationery
Division
Engaged in the import and distribution of
stationery products.
·
Tailoring
Division
Engaged in the provision of tailoring
services and textile trading.
·
Media
Division
Engaged in the provision of Indian movie channels and agents.
Import
Countries: Europe and the
United States of America
International
Suppliers:
·
Hotscold Germany
·
Carmalat Italy
·
Irish
Dairy Board Republic of Ireland
·
Qatar
Flour Mill Qatar
·
Souhail
Rice Mill Pakistan
·
Amir
Rice Mill Pakistan
Brand Names: JEEVAN TV CHANNELS and PICK & PACK
Operating Trend: Steady
Subject has a
workforce of 41 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 Revenue QR 20,700,000 QR 21,105,000
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)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax:
(974) 44438182
·
Qatar
National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
|
1 |
Rs.99.61 |
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Euro |
1 |
Rs.88.60 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
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.