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Report No. : |
335014 |
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Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
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Name : |
APOLLO ENTERPRISES |
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Registered Office : |
Salwa Road, New Doha Area, PO Box 2032, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
614 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Real Estate Division ·
Furniture Division ·
Industrial Coatings
Division ·
Scaffolding Division ·
Chemical Division ·
Telecommunications
Division |
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No. of Employees : |
700 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. GDP was driven largely by the oil and gas sector however
growth in the manufacturing, construction, and financial services sectors have
pushed the non-oil component to just over half of Qatar’s nominal GDP for the
first time since 2000. Economic policy is focused on sustaining Qatar's
nonassociated natural gas reserves and increasing private and foreign
investment in non-energy sectors, but oil and gas still account for roughly 92%
of export earnings, and 62% 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 56 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 opened in mid-2014
with an initial annual passenger capacity of 24 million and with a projected 50
million when complete.
|
Source
: CIA |
Company Name :
APOLLO ENTERPRISES
Country of Origin :
Qatar
Legal Form :
Sole Proprietorship
Registration Date :
1978
Commercial Registration Number :
614, Doha
Chamber Member Number :
392/1
Invested Capital : QR 500,000
Total Workforce : 700
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Biju Balakrishnan, Finance Manager
APOLLO ENTERPRISES
Registered &
Physical Address
Street : Salwa Road
Area : New Doha
Area
PO Box :
2032
Town : Doha
Country : Qatar
Telephone : (974) 44426664
/ 44689522 / 44693334 / 44583788
Facsimile : (974) 44416274
/ 44689521
Mobile : (974)
55531937 / 55393312
Email : apollo@qatar.net.qa
/ apolloscaff@qatar.net.qa
/ apolloscaff@yahoo.com
/ biju@appollo-qa.com
Please note that subject’s previous address was, Al Handasa Street,
Doha.
Premises
Subject operates from a large suite of offices, a showroom and storage
facilities that are owned and located in the Central Business Area of Doha.
Name Position
Hassan Abdullah Al Diyab Proprietor
& General Manager
Michael Blenkinsop Assistant
General Manager
Biju Balakrishnan Financial
Manager
Babu Rajan Manager
– Real Estate Division
Marouf Yousefji Manager
– Furniture Division
Brian Frost Manager
– Industrial Coatings
Barry Britton Manager
– Scaffolding Division
Marcous Alberto Manager
– Chemical Division
Robert Woodward Manager
– Telecommunications
Date of Establishment : 1978
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 614, Doha
Chamber Member No. : 392/1
Invested Capital : QR 500,000
Mr Hassan Abdullah Al Diyab is the sole proprietor of the business.
Apollo Furniture
PO Box: 53824
Dubai
United Arab Emirates
Tel: (971-4) 3391358
Fax: (971-4) 3391361
Activities: Subject’s operations are performed through the following divisions:
Real Estate Division
Apollo Enterprises has been operating its Real Estate division for over
25 years and during that time has become a market leader.
Its portfolio covers the whole spectrum of available properties, ranging
from studio apartments to executive villas in the West Bay Lagoon, as well as
commercial office space.
Furniture Division
This division is engaged in the import and retail of home furniture and
furnishings, including custom-made sofas, beds, Indonesian/Indian furniture and
Mexican furniture, as well as curtains, bed linen and lamps.
Industrial Coatings Division
Apollo Enterprises Industrial Coatings Division was
formed in late 1991, with the intention of serving the ever expanding Oil and
Gas Industry in Qatar. It operates two 'shop' facilities for abrasive
blasting and painting, both are located within the Salwa Industrial Area. The
first "shop" is located in street 38 (unit 54) and offers 3600 sqm of
work area. The second facility is located in street 41, offering 15000 sqm of
work / storage area and houses our new FBE coating plant.
Scaffolding Division
Engaged in the sale and rental of scaffolding materials and accessories.
Chemical Division
The Industrial Chemical Division of Apollo
Enterprises is comprised of an agency agreement with the world famous Belzona
Polymetrics Inc. It distributes a wide range of industrial chemicals used for the
repair, renovation and protection of machinery, equipment, buildings and
structures.
Telecommunications Division
This division offers a one-stop location for provision of telecommunication design and installation services from basic telephone services to structured cabling networks to radio and security systems. Its services range from re-arranging telephones and cabling in an office to supply-install-commission of a network solution or the maintenance of such systems.
Import Countries: United States of America and the United Kingdom
International Suppliers:
Aimbry Lighting United
Kingdom
Valence Technology Inc United
States of America
Creative Furniture China
J P Antiques India
BASF United
Arab Emirates
Jotun Paints Qatar
Hempel Paints Qatar
Brand Names: SILENTNIGHT
Operating Trend: Steady
Subject has a workforce of approximately 700 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
116,500,000 QR 128,000,00
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Biju Balakrishnan, Finance Manager
Al Ahli Bank of Qatar (QSC)
PO Box: 2309
Doha
Tel: (974) 44326611
Fax: (974) 44444652
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.
Date of transaction January
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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.