MIRA INFORM REPORT

 

 

Report No. :

335477

Report Date :

07.08.2015

 

IDENTIFICATION DETAILS

 

Name :

AL AMER GROUP FOR ELECTRICAL MATERIALS

 

 

Registered Office :

Building No 1, 2nd Floor, Office No 3, Al Muntazah Area, P O Box: 28242, 28412 & 80587, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.10.2013

 

 

Com. Reg. No.:

39582, Doha

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import and distribution of switchgear and electrical materials. Subject also provides mechanical, electrical and plumbing contracting services.

 

 

No. of Employees :

65

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Qatar

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

SUMMARY

 

Company Name                                    : AL AMER GROUP FOR ELECTRICAL MATERIALS

Country of Origin                                   : Qatar

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 1st October 2013

Commercial Registration Number           : 39582, Doha

Chamber Membership Number               : 16642

Invested Capital                                    : QR 100,000

Total Workforce                                    : 65

Activities                                               : Distributors of switchgear and electrical materials

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

COMPANY NAME

 

AL AMER GROUP FOR ELECTRICAL MATERIALS

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Building No 1, 2nd Floor, Office No 3

Area                 : Al Muntazah Area

 

PO Box            : 28242, 28412 & 80587

 

Town                : Doha

Country             : Qatar

 

Telephone         : (974) 44277713 / 44583263 / 44277712

Facsimile          : (974) 44277715 / 44583262

Email                : info@alamer-elec.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Doha.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Salwa Road                                                                                      Office premises

Doha

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                 Position

 

·       Amer Saleh Al Hajri                           Qatari                                       Proprietor & General Manager

 

·       Mersel Al Sughair                                  -                                          Assistant General Manager

 

·       Alaa Sadiq                                            -                                          Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st October 2013

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 39582, Doha

 

Chamber Member No.  : 16642

 

Invested Capital           : QR 100,000

 

Mr Amer Saleh Al Hajri is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       South Trading & Contracting Co

 

·       South Transport

 

·       Al Amer Real Estate

 

·       Al Balda Trading & Contracting Co

 

·       Al Amer Welding & Aluminium Workshop

 

·       Al Amer Factory for Aluminium Foils

 

·       Al Amer Factory for the Manufacture of Electrical Panels - Qatar

 

·       Al Amer Factory for the Manufacture of Electrical Panels – United Arab Emirates 

 

·       Al Shami Home Cafe & Restaurant – Qatar

 

·       Al Shami Home Cafe & Restaurant – United Arab Emirates

 

·       Zaman Al Khair Cafe & Restaurant

 

·       Zaman Al Khair Kitchens

 

·       Extreme Technology

 

·       Seyanah Communication Center

 

·       Garage Al Ajial Al Hadeeth Transportation & Heavy Equipment

 

·       Garage Al Yaban for Automotive Spare Parts

 

·       Al Ataa Laundry

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of switchgear and electrical materials. Subject also provides

                 mechanical, electrical and plumbing contracting services.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of 65 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Qatari Riyals (QR)

 

                                                Year Ending 31/12/14:

 

Total Sales                                QR 12,800,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44490222

Fax: (974) 44438182

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.76

UK Pound

1

Rs.99.60

Euro

1

Rs.69.71

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN 

 

 

Report Prepared by :

NIT

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.