|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
STERLING SITES TRADING WLL |
|
|
|
|
Registered Office : |
Building No. 59,
Street No. 38, Industrial Area 23502 Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.09.2012 |
|
|
|
|
Com. Reg. No.: |
57292, Doha |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Engaged in the import
and distribution of building materials. |
|
|
|
|
No. of Employees : |
7 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 : STERLING
SITES TRADING WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 17th
September 2012
Commercial
Registration Number : 57292,
Doha
Chamber Membership
Number : 30099
Issued Capital : QR 200,000
Paid up Capital : QR
200,000
Total Workforce : 7
Activities :
Distributors of building materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Ahmed Yousef
Rashid Yousef Al Maliki, Managing Director
STERLING SITES
TRADING WLL
Building : Building No. 59
Street : Street No. 38
Area : Industrial Area
PO Box : 23502
Town : Doha
Country : Qatar
Telephone : (974) 44118174
Mobile : (974) 55175632 / 33230195
Email : info@sterlingsites.com
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Doha.
Name Nationality Position
·
Ahmed
Yousef Rashid Yousef Al Maliki Qatari Managing
Director
·
Tariq
Bin Abdullah Bin Majid Al Balooshi Omani Director
Date of Establishment : 17th
September 2012
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 57292, Doha
Chamber Member No. : 30099
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Ahmed
Yousef Rashid Yousef Al Maliki
·
Tariq
Bin Abdullah Bin Majid Al Balooshi
·
Sterling
International Trading LLC
Muscat
Oman
·
Sterling
Sites FZCO
Jebel Ali Free Zone
Dubai
United Arab Emirates
·
Sterling
National Trading Co
Riyadh
Saudi Arabia
Activities: Engaged in the import and distribution of building
materials.
Import
Countries: Europe and the
Far East
Brand Names: STG, CONFLO, GLOBAL, PEGLER YORKSHIRE,
PETA, X’TRASEAL, OATEY, WEISS,
BARTOLINE, SIPRO and SISANIT
Subject has a
workforce of 7 employees.
Financial
highlights provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/13:
Total sales QR
950,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Ahmed Yousef Rashid Yousef Al Maliki, Managing Director
·
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.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
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.