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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
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Name : |
UNITED MINERAL
WATER (SIDRA) |
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Registered Office : |
New Industrial
Zone, P O Box 13685 & 30430, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
23.01.2003 |
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Com. Reg. No.: |
4408, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged as processors
and bottlers of mineral water. |
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No of Employees : |
35 |
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 |
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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 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate 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 : UNITED MINERAL WATER (SIDRA)
Country of Origin : Qatar
Legal Form : With Limited Liability – WLL
Registration Date : 23rd January 2003
Commercial Registration Number : 4408, Doha
Issued Capital : QR 100,000
Paid up Capital : QR 100,000
Total Workforce : 35
Activities : Processors and bottlers of mineral water.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Pankaj Suresh Naik, Plant Manager
UNITED MINERAL
WATER (SIDRA)
Registered &
Physical Address
Location : New Industrial Zone
PO Box : 13685 & 30430
Town : Doha
Country : Qatar
Telephone : (974) 44868747
Facsimile : (974) 44775113
Mobile : (974) 66884453
Email : info@unitedmineralwater.com / info@umqatar.com / psuresh@unitedmineralwater.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Doha.
Name Nationality Position
·
Feras
Mohamed A Radwan Qatari Managing
Director
·
Ahmed
Mohamed A Radwan Qatari Director
·
Thana
Abdul Ghani Al Mandili Qatari Director
·
Pankaj
Suresh Naik - Plant
Manager
Date of Establishment : 23rd
January 2003
History : Subject was originally established in 2003
as a Sole Proprietorship owned by Mr Mohamed Hamd Al Hajri. However on 16th
December 2012, Mr Mohamed Hamd Al Hajri sole the business to the current
shareholders who re-registered the business as a With Limited Liability - WLL
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 4408, Doha
Issued Capital : QR 100,000
Paid up Capital : QR 100,000
Name of Shareholder
(s)
·
Feras
Mohamed A Radwan
·
Ahmed
Mohamed A Radwan
·
Thana
Abdul Ghani Al Mandili
·
Simex
Trading Group
Doha
Activities: Engaged as processors and bottlers of
mineral water.
Import
Countries: Europe and the
Far East.
Suppliers:
·
Future
Plast Abu
Dhabi, United Arab Emirates
·
Al
Amoudi Plastic Doha, Qatar
·
Paper
Carton Factory Doha, Qatar
Brand Names: SIDRA and PAPYRUS
Subject has a
workforce of 35 employees.
Companies registered
in Qatar are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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 |
|
Euro |
1 |
Rs.88.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
MNL |
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.