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Report No. : |
315376 |
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Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
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Name : |
KASHMIR
HANDICRAFT EMPORIUM |
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Registered Office : |
Building No. 77, Street No. 840, Zone, No 39, Al Mergab Al Jadeed, P O Box: 3286, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
22.05.1996 |
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Com. Reg. No.: |
18280, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and
Retailers of Handicrafts, Ethnic Rugs and Furniture. |
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No. of Employees : |
5 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 : KASHMIR
HANDICRAFT EMPORIUM
Country of Origin : Qatar
Legal Form :
Sole Proprietorship
Registration Date : 22nd
May 1996
Commercial
Registration Number : 18280, Doha
Invested Capital : QR 50,000
Total Workforce : 5
Activities :
Wholesalers and retailers of handicrafts, ethnic rugs and furniture.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Riyaz Ahmed
Bhati, General Manager
KASHMIR HANDICRAFT
EMPORIUM
Building : Building No. 77
Street : Street No. 840
Area : Zone, No 39, Al
Mergab Al Jadeed
PO Box : 3286
Town : Doha
Country : Qatar
Telephone : (974) 44432761
Facsimile : (974) 44432761
Mobile : (974) 55553407
Email : nomads@qatar.net.qa
Please note that subject’s
previous address was, Al Merghab Street, Al Sadd, Doha.
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
Name Nationality Position
·
Mohamed Issa Mohamed Al
Khulaifi Qatari Proprietor
·
Riyaz
Ahmed Bhati - General
Manager
·
Ali
Ahmed - Administration
Manager
·
Wajila
Khan - Sales
Executive
Date of Establishment : 22nd
May 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 18280, Doha
Invested Capital
: QR 50,000
Mr Mohamed Issa Mohamed Al Khulaifi
is the sole proprietor of the business.
·
Kashmir Art Emporium
Doha
Activities: Engaged in the wholesale and retail of
handicrafts, ethnic rugs and furniture.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial highlights
provided by local sources are given below:
Currency: Qatari
Riyals (QR)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales QR 10,850,000 QR 11,315,000
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
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|
1 |
Rs.92.73 |
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Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
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.