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Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
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Name : |
NABCO TRADING AND REAL ESTATE INVESTMENT CO LTD |
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Registered Office : |
Wakra Road, Airport Area, P O Box 1654, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
11.07.1996 |
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Com. Reg. No.: |
300, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject’s operations
are performed through the following 11 divisions: · Nabco Foodstuff Division Engaged in the import and distribution of general foodstuffs. Established in 2009 under commercial registration number 300/3. · Real Estate Division Engaged as real estate developers and
agents. · Nabco Centre for Furniture & Decoration
Division Engaged as wholesalers and retailers of
furniture. · Nabco Contracting Engaged as general construction
contractors. · Nabco Industries Division Engaged in the manufacture of furniture. · Nabco Engineering Engaged in the import and distribution of
engineering and industrial machinery. · Nabco Block Factory Engaged
in the manufacture of blocks for roofing · Nabco Furniture Industries Engaged in the manufacture of wooden
furniture. · Nabco Yacht Rental Engaged in the provision of yacht rental
services. · Nabco Tray House Engaged in the import and distribution of
construction equipment. · Nabco Tray Home Engaged in the import and distribution of
construction and building equipment. |
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No. of Employees : |
400 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Company Name : NABCO
TRADING AND REAL ESTATE INVESTMENT
CO LTD
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 11th
July 1996
Commercial Registration
Number : 300, Doha
Chamber Membership
Number : 2230/1
Issued Capital : QR
12,500,000
Paid up Capital : QR
12,500,000
Total Workforce : 400
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person (s)
Interviewed :
Tariq Dahkeer, Finance Manager
NABCO TRADING AND REAL ESTATE INVESTMENT CO LTD
Street : Wakra Road
Area : Airport Area
PO Box : 1654
Town : Doha
Country : Qatar
Telephone : (974) 44666646 / 44666666 / 44323363 / 44654821 / 44654844
Facsimile : (974) 44666636 / 44435757
Mobile :
(974) 55612324 / 66228780
Email : nabco@qatar.net.qa / info@nabcofurniture.com.qa / info@nabcofoodstuff.com.qa
Subject operates from
a large suite of offices that are rented and located in the Suburban Business
Area of Doha.
Name Position
·
Farooq Ibrahim Nabina Managing
Director
·
Mansour Ibrahim Nabina Director
·
Masood Ibrahim Nabina Director
·
Islam Talat Human
Resources Manager
·
Reem
Moosa Commercial
Manager
·
Tariq
Dahkeer Finance
Manager
·
Mohamed
Mubarak Financial
Controller
·
Fathi Mohamed Ahmed Public
Relations Manager
Date of Establishment : 11th
July 1996
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 300, Doha
Chamber Member No. : 2230/1
Issued Capital : QR 12,500,000
Paid up Capital : QR 12,500,000
·
Farooq Ibrahim Nabina
·
Mansour Ibrahim Nabina
·
Masood Ibrahim Nabina
Activities: Subject’s operations are performed through
the following 11 divisions:
· Nabco Foodstuff Division
Engaged in the import and
distribution of general foodstuffs.
Established in 2009 under
commercial registration number 300/3.
· Real Estate Division
Engaged
as real estate developers and agents.
· Nabco Centre for Furniture & Decoration
Division
Engaged
as wholesalers and retailers of furniture.
· Nabco Contracting
Engaged
as general construction contractors.
· Nabco Industries Division
Engaged
in the manufacture of furniture.
· Nabco Engineering
Engaged
in the import and distribution of engineering and industrial machinery.
· Nabco Block Factory
Engaged in the manufacture of blocks for
roofing
· Nabco Furniture Industries
Engaged
in the manufacture of wooden furniture.
· Nabco Yacht Rental
Engaged
in the provision of yacht rental services.
· Nabco Tray House
Engaged
in the import and distribution of construction equipment.
· Nabco Tray Home
Engaged
in the import and distribution of construction and building equipment.
Import
Countries: Europe, India
and the United States of America
International Suppliers:
Operating Trend: Steady
Subject has a
workforce of approximately 400 employees.
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales RO 31,720,000 RO 35,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Tariq Dahkeer, Finance Manager
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.23 |
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1 |
Rs.98.53 |
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Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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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 |
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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 |
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-- |
NB |
New Business |
-- |
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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.