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Report Date : |
14.11.2014 |
IDENTIFICATION DETAILS
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Name : |
ABU KHALIFA TRADING ESTABLISHMENT |
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Registered Office : |
Villa No. 1, Salwa Road, PO Box 5160, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.08.1978 |
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Com. Reg. No.: |
6938 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of fresh fruit and vegetables. |
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No of Employees : |
125 |
RATING & COMMENTS
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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 – 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 |
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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 :
ABU KHALIFA TRADING ESTABLISHMENT
Country of Origin :
Qatar
Legal Form :
Sole Proprietorship
Registration Date :
27th August 1978
Commercial Registration Number :
6938, Doha
Trade Licence Number :
10372
Invested Capital :
QR 500,000
Total Workforce :
125
Activities :
Wholesale and retail of fresh fruit and vegetables.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Shareef Ali, Public Relations Officer
ABU KHALIFA TRADING ESTABLISHMENT
Registered &
Physical Address
Building : Villa No. 1
Street : Salwa Road
PO Box : 5160
Town : Doha
Country : Qatar
Telephone : (974) 44680471
/ 44687137 / 44687138 / 44685692 / 44682292
Facsimile : (974) 44687822
/ 44689592 / 44680471
Mobile : (974)
55504466 / 55690017
Email : haider@qatar.net.qa
/ info@abukhalifatrading.com
Premises
Subject operates from a large suite of offices and a warehouse that are
owned and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
Al Rayyan Market Fruit
& Vegetable market stall
Doha
Al Dafraa Market Fruit
& Vegetable market stall
Doha
Al Mamwraa Market Fruit
& Vegetable market stall
Doha
Wakaraa Market Fruit & Vegetable market stall
Doha
Wholesale Market Fruit
& Vegetable market stall
Doha
Name Position
Abdullah Hussain Ahmed Al Khalifa Proprietor
& General Manager
Haider Ali Al Haideri Assistant
General Manager
Abu Baker Muhiddine Administration
Manager
Ayman Al Tamimi Financial
Controller
Sayed Abu Al Foutoh Sales
Manager
Mostafa Saif Accountant
Shareef Ali Public
Relations Officer
Date of Establishment : 27th
August 1978
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 6938, Doha
Trade Licence No. : 10372
Invested Capital : QR 500,000
Mr Abdullah Hussain Ahmed Al Khalifa is the sole proprietor of the business.
Abu Khalifa
Vegetables and Fruits Trading Co
Doha
Tel: (974) 44687137
CR No. 14598
Activities: Engaged in the wholesale and retail of fresh fruit and vegetables.
Subject supplies to a large number of customers, including the Qatar
Army, the Qatar Police Force and the Qatar National Hotel.
Import Countries: Egypt, Lebanon, Turkey, Australia and the United
Kingdom
International Suppliers:
Egyptian Gulf Co Egypt
Al Zahran Trading Lebanon
Hariri Corporation Lebanon
Safa Corporation Lebanon
Luxcan Trading Co Turkey
Keenan Producers Australia
IG International United Kingdom
Operating Trend: Steady
Subject has a workforce of approximately 125 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
52,000,000 QR
53,850,000
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)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
Acc No. 4010316350001
Bank Saderat Iran
PO Box: 2256
Doha
Tel: (974) 44430346 / 44430344
Fax: (974) 44430121
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.56 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
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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 |
|
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.