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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ALSARF TRADING & CONTRACTING CO WLL |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
42588, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject is
engaged as construction contractors specialising in maintenance of buildings,
construction work for buildings, sewerage works, electro-mechanical works and
plumbing works. |
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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
|
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 : ALSARF TRADING & CONTRACTING CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability – WLL
Start Date :
1996
Registration Date : 21st
May 2009
Commercial
Registration Number : 42588,
Doha
Chamber Membership
Number : 18989
Issued Capital : QR
5,000,000
Paid up Capital : QR
5,000,000
Total Workforce : 400
Activities :
Construction contractors
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Anas Abu
Harb, Project Manager
ALSARF TRADING
& CONTRACTING CO WLL
Building : Al Sarf Building
Street :
D Ring Road
PO Box : 13333
Town : Doha
Country : Qatar
Telephone : (974) 44665851
Facsimile : (974) 44665852
Mobile : (974) 55514509
Email : info@alsarf.com / w.abuharb@alsarf.com
Subject operates from
a large suite of offices that are owned and located in the Central Business
Area of Doha.
Name Nationality Position
·
Wessam
Yousef Mohamed Abu Harb Jordanian Managing
Director
·
Nasser
Abdullah Kafoud Qatari Director
·
Anas
Abu Harb - Project
Manager
·
Emad
Mulhem - Finance
Manager
Date of Establishment : 1996, however
subject was registered on 21st May 2009
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 42588, Doha
Chamber Member No. : 18989
Issued Capital : QR 5,000,000
Paid up Capital : QR 5,000,000
Name of Shareholder
(s)
·
Wessam
Yousef Mohamed Abu Harb
·
Nasser
Abdullah Kafoud
·
Naharya
Trading & Contracting
·
Halaika
Marble & Stones industries Ltd
Activities: Engaged as construction contractors
specialising in maintenance of buildings, construction work for
buildings, sewerage works,
electro-mechanical works and plumbing works.
Current Project: Subject is currently working on the
Mushreib Hotel, the project is valued at approximately QR
50,000,000.
Completed Projects: Al Kaabi Tower, Doha
Saraya Hotel, Doha
Al Sad Hotel, Doha
Operating Trend: Steady
Subject has a workforce
of approximately 400 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 31,600,000 QR 35,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Anas Abu Harb, Project Manager
·
Doha
Bank Ltd
Mushaireb
PO Box: 2822
Doha
Tel: (974) 44437555
Fax: (974) 44436868
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.60.81 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared by
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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.