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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
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Name : |
QATAR FACTORY FOR FIRE FIGHTING EQUIPMENT |
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Registered Office : |
Industrial Area, PO Box 55644, Doha |
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Country : |
Qatar |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
36143 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers of fire fighting equipment and extinguishers |
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No of Employees : |
45 |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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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 :
QATAR FACTORY FOR FIRE FIGHTING EQUIPMENT
Country of Origin :
Qatar
Legal Form :
Sole Proprietorship
Registration Date :
1999
Commercial Registration Number :
36143
Chamber Membership Number :
13681
Invested Capital :
QR 200,000
Total Workforce :
45
Activities :
Manufacturers of fire fighting equipment and extinguishers
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Faisal Zaki Abdio, Assistant General Manager
QATAR FACTORY FOR FIRE FIGHTING EQUIPMENT
Registered & Physical Address
Location : Industrial
Area
PO Box : 55644
Town : Doha
Country : Qatar
Telephone : (974) 44025888
Facsimile : (974) 44114630
Mobile : (974)
55569178
Email : faisal@naffco.com
Please note that the correct PO Box number is 55644 and not 55844.
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Doha.
Branch Office (s)
Location Description
Salwa Road Office
premises
Doha
Tel: (974) 44694172
Fax: (974) 44694174
Name Position
Khalid Al Khateeb Proprietor
& General Manager
Faisal Zaki Abdio Assistant
General Manager
Mohamed Tahseen Finance
Manager
Date of Establishment : 1999 (production
started in 2005)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 36143
Chamber Member No. : 13681
Invested Capital : QR 200,000
Mr Khalid Al Khateeb is the sole proprietor of the business.
Activities: Engaged in the manufacture of fire fighting equipment and
extinguishers.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 45 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
16,800,000 QR
17,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
HSBC Bank Middle East
Abdulla Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.05 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
SHG |
RATING EXPLANATIONS
|
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 |
|
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 |
|
-- |
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.