MIRA INFORM REPORT

Report Date :

20.09.2014

IDENTIFICATION DETAILS

Name :	LULU HYPER MARKET TRADING CO WLL
Registered Office :	Airport Road, PO Box: 9763, Doha
Country :	Qatar
Date of Incorporation :	21.11.2001
Com. Reg. No.:	24169, Doha
Legal Form :	With Limited Liability – WLL
Line of Business :	Owners and Operators of a Shopping Complex.
No. of Employees :	150

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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

SUMMARY

Company Name : LULU HYPER MARKET TRADING CO WLL

Country of Origin : Qatar

Legal Form : With Limited Liability - WLL

Registration Date : 21^st November 2001

Commercial Registration Number : 24169, Doha

Chamber Membership Number : 6057

Issued Capital : QR 10,000,000

Paid up Capital : QR 10,000,000

Total Workforce : 150

Activities : Owners and operators of a shopping complex.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : George Kutty Abraham, Finance Manager

COMPANY NAME:

LULU HYPER MARKET TRADING CO WLL

ADDRESS

Registered & Physical Address

Location : Airport Road

PO Box : 9763

Town : Doha

Country : Qatar

Telephone : (974) 40191651 / 40191652 / 40191511 / 44667780

Facsimile : (974) 44667790

Mobile : (974) 55835798

Email : info@luluhypermarket.com

satheesh@luluhypermarket.net.qa

recievable3020@qa.lulumea.com

Premises

Subject operates from a large suite of offices and a shopping complex that are rented and located in the Central Business Area of Doha.

KEY PRINCIPALS

Name Nationality Position

· Yousef Ali Abdulqader Musailam Veettil Abdulqader Indian Managing Director

· Sheikh Hassan Bin Khalid Al Abdullah Qatari Director

· Mohamed Zein Al Abdi - General Manager

· George Kutty Abraham - Finance Manager

· M O Shajan - Regional Manager

· Sanjo Phillip - Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 21^st November 2001

Legal Form : With Limited Liability - WLL

Commercial Reg. No. : 24169, Doha

Chamber Member No. : 6057

Issued Capital : QR 10,000,000

Paid up Capital : QR 10,000,000

Name of Shareholder (s)

· Yousef Ali Abdulqader Musailam Veettil Abdulqader

· Sheikh Hassan Bin Khalid Al Abdullah

AFFILIATED COMPANIES

· Lulu Bahrain Hypermarket SPC

Shop No. 273, Building No. 702

Road No. 5115

Block No. 351

PO Box: 21584

Manama

Bahrain

Tel: (973-17) 553555

Fax: (973-17) 550505

· Lulu Centre Trading Co WLL

Al Rayyan Road

PO Box: 9763

Doha

Tel: (974) 44324324

Fax: (974) 44363434

CR No. 21285

Mem No. 4573

OPERATIONS

Activities: Engaged as owners and operators of a shopping complex.

Subject is a three level department store with electronic items, household goods, clothes, shoes, suitcases, stationery, jewellery and personal care products.

Subject has a workforce of approximately 150 employees.

FINANCIAL DATA

Companies registered in Qatar are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· HSBC Bank Middle East

Abdulla Bin Jassim Street

PO Box: 57

Doha

Tel: (974) 44423124

Fax: (974) 44416353

· International Bank of Qatar

PO Box: 2001

Doha

Tel: (974) 44478000

Fax: (974) 44473745

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.60.81
UK Pound	1	Rs.100.06
Euro	1	Rs.78.47

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.