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Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
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Name : |
Q CHEM II DISTRIBUTION CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.10.2005 |
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Com. Reg. No.: |
31547, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import, distribution and transportation of
chemical products. |
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No. of Employees : |
120 |
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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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 will likely accelerate large-scale
infrastructure projects such as Qatar's metro system, light rail system, and
the Qatar-Bahrain causeway. The Hamad International Airport is opened at the
end of 2013 with an annual passenger capacity of 24 million.
|
Source
: CIA |
Company Name :
Q CHEM II DISTRIBUTION CO LTD
Country of Origin :
Qatar
Legal Form :
Limited Liability Company
Registration Date :
20th October 2005
Commercial Registration Number :
31547, Doha
Chamber Membership Number :
10339/1
Issued Capital :
QR 1,000,000
Paid up Capital :
QR 1,000,000
Total Workforce :
120
Activities :
Distribution and transportation of chemical products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Manglore Abdulrahman, Financial Controller
Q CHEM II
DISTRIBUTION CO LTD
Registered &
Physical Address
Location : West Bay Area
PO Box : 24646
Town : Doha
Country : Qatar
Telephone : (974) 44847111 / 44847140 / 44847128 / 44847110 / 44847604 / 44847155
Facsimile : (974) 44835663
Email : mcemerson@qchem.com.qa
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Doha.
Name Position
Ahmed Al Emadi General
Manager
Nabil Al Saad Operations
Manager
Michael Emerson Finance
Manager
Manglore Abdulrahman Financial
Controller
Paradeep Kumar Planning
Manager
Lark Messe Marketing
Manager
Sayed Wafi Public
Relations Manager
Atif El Behiri Assistant
Public Relations Manager
Date of Establishment : 20th October 2005, however
operations did not begin until 1st July 2010
Legal Form : Limited Liability
Company
Commercial Reg. No. : 31547, Doha
Chamber Member No. : 10339/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of
Shareholder (s) Percentage
Doha
Chevron Philips Chemical 49%
United States of America
Q Chem I Distribution Co Ltd
Doha
CR No. 45536
Qatar Chemical Co Ltd (I)
Doha
CR No. 21119
Qatar Chemical Co Ltd (II)
Doha
CR No. 31144
Ras Laffan Olefins Ltd
Doha
Activities: Engaged in the
import, distribution and transportation of chemical products.
Import Countries: Europe
and GCC countries.
Subject has a workforce of 120 employees.
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.
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.60.78 |
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1 |
Rs.99.29 |
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Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.