|
Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NABINA TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
Airport Road, Al Wakra, PO Box 130, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.01.1991 |
|
|
|
|
Com. Reg. No.: |
59 |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Subject’s operations
are performed through the following divisions: ·
Building Materials Division ·
Nabina Ceramic Division ·
Nabina Marble Division ·
Nabina Kitchen Division ·
Nabina Transport Division ·
Nabina Contracting Division |
|
|
|
|
No of Employees : |
1,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 :
NABINA TRADING ESTABLISHMENT
Country of Origin :
Qatar
Legal Form :
General Partnership
Start Date :
1951
Registration Date :
1st January 1991
Commercial Registration Number :
59, Doha
Chamber Membership Number :
2287
Partners Capital :
QR 100,000,000
Total Workforce :
1,000
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Nair Srikandan, Accounts Manager
NABINA TRADING ESTABLISHMENT
Registered &
Physical Address
Location : Airport Road,
Al Wakra
PO Box : 130
Town : Doha
Country : Qatar
Telephone : (974) 44652345
/ 44652344
Facsimile : (974) 44652386
/ 44660555
Email : nabinaco@qatar.net.qa
/ nabinagroup@qatar.net.qa
/ nair@nabina.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Branch Office (s)
Location Description
Al Shamal Road Office
premises
Doha
Tel: (974) 44979000
Name Position
Ibrahim Mohamed Nabina Managing
Partner
Abdulaziz Mohamed Nabina Partner
Nasser Ahmed Mohamed Abdulaziz Nabina General
Manager
Yousef Hamad Commercial
Manager
Desh Pande Finance
Manager
Nair Srikandan Accounts
Manager
Date of Establishment : 1951, however
subject was registered on 1st January 1991
Legal Form : General Partnership
Commercial Reg. No. : 59, Doha
Chamber Member No. : 2287
Partners Capital : QR 100,000,000
Name of Partner (s)
Ibrahim Mohamed Nabina
Abdulaziz Mohamed Nabina
Nabina Artificial Marble Factory
Salwa Road
Doha Industrial Area
PO Box: 130
Doha
Tel: (974) 44652345
Fax: (974) 44652386
Nabina Gallery
PO Box: 130
Doha
Tel: (974) 44426426 / 44435566
Fax: (974) 44435757
Activities: Subject’s operations are performed through the following divisions:
Building Materials
Division
Engaged in the import, distribution, wholesale and retail of building materials, stocking more than 200 types of products such as steel and wood. This division is providing approximately 75% of the construction materials in Qatar.
Nabina Ceramic
Division
Engaged in the import, wholesale and retail of sanitary ware products
and ceramics with a product range consisting of over 100 different products.
The range includes bathroom sets, ceramic tiles, marbles, kitchen cabinets,
equipments, accessories, appliances, worktops and sinks.
Nabina Marble
Division
Engaged in the wholesale and retail of marble products.
Nabina Kitchen
Division
Engaged in the wholesale and retail of kitchen units, kitchenware and
equipment.
Nabina Transport
Division
The transport division specialises in providing the following services:
Overland transport to all AGCC countries, International Freight service. Full
truck and part load trailer service to all AGCC destinations, General Cargo
services, Warehousing and distribution, Local Transportation, Project Cargo
Handling.
The division operates a fleet of more than 40 trailers and is Official
carriers of Qatar Steel Company for all AGCC destinations.
Nabina Contracting
Division
This division is engaged as real estate developers and general building
contractors.
Nabina Glass &
Mirrors Factory
The factory is the biggest stained glass factory in Qatar specialized in
glass colouring, cutting and drilling. Sole Agents for RSG systems of the
United Kingdom.
Nabina Trading
This division is responsible for subject’s financial and non-financial
affairs.
Import Countries: Italy, Spain, United Kingdom, Qatar, Japan and the
United Arab Emirates
International Suppliers:
RAK Ceramics United Arab Emirates
Gianne Versace Italy
Toto Japan
Supergrif Spain
Qatar Steel Qatar
Operating Trend: Steady
Subject has a workforce of approximately 1,000 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
159,250,000 QR 170,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Nair Srikandan, Accounts Manager
Doha Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
Qatar National Bank
Government House Road
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
Arab Bank Ltd
PO Box: 172
Doha
Tel: (974) 44437979 / 44422814
Fax: (974) 44410774
No complaints regarding subject’s payments have been reported.
Nabina Trading Establishment has been in business for over 50 years and
is a leading concern in the Qatari business community with interests in the
building materials and sanitary ware sectors, land transportation industry,
real estate and glass manufacturing.
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.