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Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MULTICON TRADING WLL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
16.08.2008 |
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Com. Reg. No.: |
38170 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the import and distribution of construction
materials and providers of heavy machine rental. |
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No of Employees : |
28 |
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 01, 2014
|
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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company Name : MULTICON TRADING WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
16th August 2008
Commercial Registration Number :
38170, Doha
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
28
Activities :
Distributors of construction materials
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Sajad Ahmed, General Manager
MULTICON TRADING WLL
Registered &
Physical Address
Location : B Ring Road,
Civil Engineering Street
PO Box : 10376
Town : Doha
Country : Qatar
Telephone : (974) 44314758
/ 44318758
Facsimile : (974) 44316937
Mobile : (974)
66002625
Email : info@multiconqatar.com
/ sajad@multiconqatar.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Doha.
Name Nationality Position
Sabir Hussain Khan Pakistani Managing
Director
Khalid Abdullah Al Sulaiti Qatari Director
Sajad Ahmed - General
Manager
Nadeem Mohamed - Accountant
Date of Establishment : 16th
August 2008
Legal Form :
With
Limited Liability - WLL
Commercial Reg. No. : 38170, Doha
Issued Capital : QR 200,000
Paid up Capital :
QR
200,000
Name of
Shareholder (s)
Sabir Hussain Khan
Khalid Abdullah Al Sulaiti
Activities: Engaged in the import and distribution of construction materials and
providers of heavy machine rental.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 28 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
13,110,000 QR
14,360,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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.60.84 |
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|
1 |
Rs.98.73 |
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Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
TPT |
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 |
-- |
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.