|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ABDUL HUSSAIN MOHAMED KHOORY STORE |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
23.04.1992 |
|
|
|
|
Com. Reg. No.: |
4866, |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Subject is engaged as operators of supermarkets specialising in the
wholesale and retail of general foodstuff
products, including rice, cereals, pasta, jelly, caramel, olives,
olive oil, tea, flour, honey, and canned food |
|
|
|
|
No. of Employees : |
45 |
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 |
Company Name : ABDUL HUSSAIN MOHAMED KHOORY STORE
Country of Origin : Qatar
Legal Form : General Partnership
Registration Date : 23rd April 1992
Commercial Registration Number : 4866, Doha
Chamber Membership Number : 714/3
Partners Capital : QR 40,000
Total Workforce : 45
Activities : Operators of supermarkets specialising in the wholesale and retail of
general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdullah Amman Khoory, Administration Manager
ABDUL HUSSAIN MOHAMED KHOORY STORE
Street : Souq Street,
Shop No. 17-22
Area : Souq Aseer
PO Box : 175 & 775
Town : Doha
Country : Qatar
Telephone : (974) 44416126
/ 44606484 / 44419113 / 44413632
Facsimile : (974) 44440030
Mobile : (974) 55112669 / 55040202 / 55512679
Email : khoory@qatar.net.qa
Subject operates from a medium sized suite of offices and a supermarket
that are owned and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
· Doha Wholesale Market Rented
supermarket premises
Doha
Tel: (974)
44919113
· Industrial Area, Road No. 2 Rented
supermarket premises
Doha
Tel:
(974) 44606484
Fax:
(974) 44606477
Name Position
· Abdullah Mohamed Ahmed Khoory Managing
Partner
· Mohamed Abdullah Mohamed Ahmed Khoory General Manager
· Abdullah Abdullah Mohamed Ahmed Khoory Assistant
General Manager
· Sadeq Abdullah Mohamed Ahmed Khoory Sales
Manager
· Abdullah Amman Khoory Administration
Manager
· Farooq Abdullah Mohamed Khoory Marketing
Manager
Date of
Establishment : 23rd
April 1992
Legal Form : General Partnership
Commercial Reg.
No. : 4866, Doha
Chamber Member No. : 714/3
Partners Capital : QR 40,000
Name of Partner
(s)
· Abdullah Mohamed Ahmed Khoory
· Heirs of the late Abdul
Hussain Mohamed Khoory
· Abdul Hussain
Mohamed Khoory & Partner WLL
PO Box: 175 &
775
Doha
Tel: (974) 44416126 / 44606484 / 44419113
Fax: (974) 44440030
CR No. 299
Activities: Engaged as operators of supermarkets specialising in the wholesale and
retail of general foodstuff
products, including rice, cereals, pasta, jelly, caramel, olives, olive
oil, tea, flour, honey, and canned food.
Import Countries: United Kingdom, Spain,
France, India and Thailand
International Suppliers:
· Quaker Oats United
Kingdom
· Crespo Olive
· Cipa France
· Kohinoor Basmati Rice India
· Golden Phoenix Thailand
· Queen Olive Oil Spain
Brand Names: QUAKER, CRESPO,
SIPA, GREEN’S, ROYAL ELEPHANT, RED SUN, IMPERIAL TASTE,
KOHINOOR, XL and
QUEEN
Operating Trend: Steady
Subject has a workforce of 45 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
16,110,000 QR
16,925,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
United Bank Ltd
PO Box: 242
Doha
Tel: (974) 44438666 / 44424900
Fax:
(974) 44424600
No complaints regarding subject’s payments have been reported.
Credit amount US$
150,000 US$
500,000
Amount overdue 0 0
Payment terms 60
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
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.60.80 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.