|
Report No. : |
316488 |
|
Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
NABINA TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
Airport Road, Al Wakra, 130, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.01.1991 |
|
|
|
|
Com. Reg. No.: |
59 |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Subject’s operations are performed through the following divisions:
Engaged in the import, distribution,
wholesale and retail of building materials, stocking more than 200 types of products
such as steel and wood. This division is providing approximately 75% of the
construction materials in Qatar.
Engaged in the import, wholesale and
retail of sanitary ware products and ceramics with a product range consisting
of over 100 different products. The range includes bathroom sets, ceramic
tiles, marbles, kitchen cabinets, equipments, accessories, appliances,
worktops and sinks.
Engaged in the wholesale and retail of
marble products.
Engaged in the wholesale and retail of
kitchen units, kitchenware and equipment.
The transport division specialises in
providing the following services: Overland transport to all AGCC countries,
International Freight service. Full truck and part load trailer service to
all AGCC destinations, General Cargo services, Warehousing and distribution,
Local Transportation, Project Cargo Handling. The division operates a fleet of more than
40 trailers and is Official carriers of Qatar Steel Company for all AGCC
destinations.
This division is engaged as real estate
developers and general building contractors.
The factory is the biggest stained glass
factory in Qatar specialized in glass colouring, cutting and drilling. Sole
Agents for RSG systems of the United Kingdom.
This division is responsible for subject’s financial and non-financial
affairs.
This division provides hardware products With more than 400 items to
choose from, they are sole distributors of world-class brands such as Bajaj,
Anchor Allied, Godrej, and Saudi Ceramics. |
|
|
|
|
No of Employees : |
1,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 : NABINA TRADING ESTABLISHMENT
Country of Origin : Qatar
Legal Form : General Partnership
Start Date : 1951
Registration Date : 1st January 1991
Commercial Registration Number : 59, Doha
Chamber Membership Number : 2287
Partners Capital : QR 100,000,000
Total Workforce : 1,000
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nair Srikandan, Accounts Manager
NABINA TRADING
ESTABLISHMENT
Location : Airport Road, Al Wakra
PO Box : 130
Town : Doha
Country : Qatar
Telephone : (974) 44652345 / 44652344
Facsimile : (974) 44652386 / 44660555
Email : nabinaco@qatar.net.qa / nabinagroup@qatar.net.qa / nair@nabina.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
Branch Office
(s)
Location Description
·
Al
Shamal Road Office
premises
Doha
Tel: (974) 44979000
Name Position
·
Ibrahim
Mohamed Nabina Managing
Partner
·
Abdulaziz
Mohamed Nabina Partner
·
Nasser Ahmed Mohamed Abdulaziz Nabina General Manager
·
Yousef Hamad Commercial
Manager
·
Desh Pande Finance
Manager
·
Nair
Srikandan Accounts
Manager
Date of Establishment : 1951, however
subject was registered on 1st January 1991
Legal Form :
General Partnership
Commercial Reg. No. : 59, Doha
Chamber
Member No. : 2287
Partners Capital : QR 100,000,000
·
Ibrahim
Mohamed Nabina
·
Abdulaziz
Mohamed Nabina
·
Nabina
Artificial Marble Factory
Salwa Road
Doha Industrial Area
PO Box: 130
Doha
Tel: (974) 44652345
Fax: (974) 44652386
·
Nabina
Gallery
PO Box: 130
Doha
Tel: (974) 44426426 / 44435566
Fax: (974) 44435757
Activities: Subject’s operations are performed through
the following divisions:
Engaged
in the import, distribution, wholesale and retail of building materials,
stocking more than 200 types of products such as steel and wood. This division
is providing approximately 75% of the construction materials in Qatar.
Engaged
in the import, wholesale and retail of sanitary ware products and ceramics with
a product range consisting of over 100 different products. The range includes
bathroom sets, ceramic tiles, marbles, kitchen cabinets, equipments,
accessories, appliances, worktops and sinks.
Engaged in the wholesale and retail of
marble products.
Engaged in the wholesale and
retail of kitchen units, kitchenware and equipment.
The
transport division specialises in providing the following services: Overland
transport to all AGCC countries, International Freight service. Full truck and
part load trailer service to all AGCC destinations, General Cargo services,
Warehousing and distribution, Local Transportation, Project Cargo Handling.
The
division operates a fleet of more than 40 trailers and is Official carriers of
Qatar Steel Company for all AGCC destinations.
This division is engaged as
real estate developers and general building contractors.
The
factory is the biggest stained glass factory in Qatar specialized in glass
colouring, cutting and drilling. Sole Agents for RSG systems of the United
Kingdom.
·
Nabina Trading
This division is responsible for subject’s financial and non-financial
affairs.
·
Nabina Hardware
This division provides hardware products With more than 400 items to
choose from, they are sole distributors of world-class brands such as Bajaj,
Anchor Allied, Godrej, and Saudi Ceramics.
Import
Countries: Italy, Spain,
United Kingdom, Qatar, Japan and the United Arab Emirates
International
Suppliers:
·
RAK
Ceramics United Arab Emirates
·
Gianne
Versace Italy
·
Toto Japan
·
Supergrif Spain
·
Qatar
Steel Qatar
Operating Trend: Steady
Subject has a
workforce of approximately 1,000 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
170,000,000 QR 177,500,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Nair Srikandan, Accounts Manager
·
Doha
Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
·
Qatar
National Bank
Government House Road
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
·
Arab
Bank Ltd
PO Box: 172
Doha
Tel: (974) 44437979 / 44422814
Fax: (974) 44410774
No complaints
regarding subject’s payments have been reported.
Please note that
“Nabina Hardware” is just the name of one of the divisions. The correct name of
the subject is “Nabina Trading Establishment”.
Nabina Trading
Establishment has been in business for over 50 years and is a leading concern
in the Qatari business community with interests in the building materials and
sanitary ware sectors, land transportation industry, real estate and glass
manufacturing.
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. 62.32 |
|
|
1 |
Rs. 92.52 |
|
Euro |
1 |
Rs. 67.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.