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Report No. : |
335735 |
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Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
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Name : |
HAMAD BIN KHALID
CONTRACTING CO WLL (HBK) |
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Formerly Known As : |
HBK CONTRACTING COMPANY
WLL |
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Registered Office : |
HBK Building, 1st Floor Grand Hamad Avenue 1362 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
4223, Doha |
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Legal Form : |
With Limited Liability
– WLL |
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Line of Business : |
Subject is engaged as
general construction contractors. |
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No. of Employee : |
6,000 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
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 : HAMAD
BIN KHALID CONTRACTING CO WLL (HBK)
Also Known As : HBK
CONTRACTING COMPANY WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability – WLL
Start Date :
1970
Registration Date : 1st
January 1991
Commercial
Registration Number : 4223, Doha
Chamber Membership
Number : 54/1
Issued Capital : QR
50,000,000
Paid up Capital : QR
50,000,000
Total Workforce :
6,000
Activities :
General construction contractors.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : V A
Ganeshan, Senior Accountant
HAMAD BIN KHALID
CONTRACTING CO WLL (HBK)
HBK CONTRACTING COMPANY WLL
Building : HBK Building, 1st
Floor
Street : Grand Hamad Avenue
PO Box : 1362
Town : Doha
Country : Qatar
Telephone : (974) 44433644 / 44433645 / 44433646 / 44433254 / 44451111
Facsimile : (974) 44438729 / 44447917 / 44451000
Email : info@HBKContracting.com / contracting@hbkholding.com / suresh@hbkholding.com
ganesan@hbkholding.com / ganesan@hbkcontracting.com / suresh@hbkcontracting.com
Subject operates
from a medium sized suite of offices that are owned and located in the Central
Business Area of Doha.
Name Position
·
Ahmed
Bin Hamad Bin Khalid Al Thani Managing Director
·
Nasser
Hamad Bin Khalid Al Thani Director
·
Jaber
Hamad Bin Khalid Al Thani Director
·
Ali
Hamad Bin Khalid Al Thani Director
·
Khalid Hamad
Bin Khalid Al Thani Director
·
Abdulaziz
Hamad Bin Khalid Al Thani Director
·
Muneera
Hamad Bin Khalid Al Thani Director
·
Wadha
Hamad Bin Khalid Al Thani Director
·
Sheikha
Jaber Al Mossallam Director
·
Suresh Ayer Finance
Manager
·
Shafqat
Nazir Financial
Controller
·
R
Vedhachalam Technical
Manager
·
R
Venktaish Procurement
Manager
·
Nalin Wickramasinghe Human
Resources Manager
·
Mamoon
Abdallah Transport
Manager
·
Tony
Hatem Logistics
Manager
·
V A Ganeshan Senior
Accountant
Date of Establishment : Subject's
operations date back to 1970, however it was registered on 1st
January 1991
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 4223, Doha
Chamber Member No. : 54/1
Issued Capital : QR 50,000,000
Paid up Capital : QR 50,000,000
Name of Shareholder
(s) Percentage
·
Hamad
Bin Khalid Holding 84%
Doha
·
Ahmed
Bin Hamad Bin Khalid Al Thani
2%
·
Nasser
Hamad Bin Khalid Al Thani 2%
·
Jaber
Hamad Bin Khalid Al Thani 2%
·
Ali
Hamad Bin Khalid Al Thani
2%
·
Khalid
Hamad Bin Khalid Al Thani 2%
·
Abdulaziz
Hamad Bin Khalid Al Thani
2%
·
Sheikha
Jaber Al Mossallam 2%
·
Muneera
Hamad Bin Khalid Al Thani 1%
·
Wadha Hamad
Bin Khalid Al Thani 1%
·
HBK
Trading Co WLL
Hamad Bin Khalid Building
Ras Abu Abbud Street
PO Box: 1806
Doha
Tel: (974) 44370924 / 44425022 / 44328676 /
44328684
Fax: (974) 44356098
CR No. 19390
Activities: Engaged as general construction
contractors. The company
has established its roots in the specialty of construction section in Qatar and
rated as one of the leading Class ‘A’ Contractors. The company is specialised
in the following:
Multi
Storey Commercial / Residential Towers
Shopping
Complexes
Public
Utility Buildings
Qatar
Armed Forces Military Works
Infrastructure
Works
Sewerage
Treatment Plants
Water
Reservoirs & Transmission Networks
Bridges
Electricity,
Water, Telecommunication & Drainage networks
Hospital
& Medical Services
Hotel
Complexes
Multi
Storey Car parks
Universities
and Education Complexes
Mosques
Private
Villas & Palaces
Aircraft
Hangers
Laboratory
Buildings
Telecommunication
Buildings
Sub
Stations & HV Networks Installations
HBK has executed many of the prestigious projects in the State of Qatar, for various Public and esteemed
private clients, most particularly the Public Works Authority (Ashghal),. Ministry of Interior, Kahramaa,
QNOC, Qatar Petroleum, HMC, QAFCO, Jazeera, Al Aqaria, Aayan Real Estate, Abu Dhabi Investment House and Doha Land.
HBK’s Quality,
Environmental, Health & Safety Management Systems has been successfully
audited in line with ISO 9001:2008, 14001:2004 & OHSAS 18001:2007 standards
respectively and certified by TUV Nord certification body.
Projects:
|
Project
Name |
Client |
Value |
Duration |
Start Date |
End Date |
|
Doha Land - Heart of Doha Project Package BP-1A-02 Substructure |
Doha Land |
275,000,000.00 |
21 Months |
12-04-2010 |
24-01-2012 |
|
Public Works Authority |
325,649,032.00 |
26 Months |
01-09-2008 |
30-08-2011 |
|
|
GTC 220/2008 - Head works Construction for Mesaimeer RPS and Associated
Pipelines |
Kahramaa |
585,661,477.00 |
25 Months |
13-11-2008 |
30-05-2011 |
|
Qatar Entertainment City (Package 2) Primary Infrastructure Roads,
Hydraulics and Bridges |
Abu Dhabi Investment House |
98,500,000.00 |
16 Months |
25-09-2009 |
14-05-2011 |
|
Qatar International Islamic Bank |
298,500,000.00 |
24 Months |
15-11-2009 |
14-11-2010 |
|
|
Reinforcement Of Water Transmission To Madinat Al Shamal RPS - GTC
275/2009 |
Kahramaa |
268,444,576.00 |
26 Months |
24-11-2009 |
24-01-2012 |
|
Qatar General Electricity & Water Corp. (Kahramaa) |
55,309,746.00 |
18 Months |
01-12-2010 |
01-06-2012 |
|
|
Ashghal |
360,201,000.00 |
30 Months |
14-12-2010 |
01-06-2013 |
|
|
Qatar Entertainment City (Package 3) Electrical Cabling Works |
Abu Dhabi Investment House |
24,250,000.00 |
6 Months |
15-02-2011 |
15-08-2011 |
|
|
|
|
|
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GTC 410/2011 Extension of Distribution Network at North Sailiyah & Vicinity |
Qatar General
Electricity & Water Corp. (Kahramaa) |
88,880,906.00 |
24 Months |
15-02-2012 |
15-02-2014 |
|
EPD/C/123/2011 Construction of Smash Tennis Academy at Khalifa Tennis & Squash Complex |
Qatar Olympic
Committee |
64,754,999.57 |
18 Months |
15-02-2012 |
15-08-2013 |
|
Lusail Real
Estate Development Co. |
419,202,874.00 |
24 Months |
27-05-2012 |
26-05-2014 |
|
|
Construction of Upgrade of Al Rayyan Road / Jassim Bin Mohammed Street (Project 7: Contract 4) |
Public Works
Authority - MRPSC |
98,652,184.00 |
14 Months |
01-06-2012 |
02-07-2013 |
|
Qatar Railways
Company |
287,991,243.00 |
36 Months |
05-07-2012 |
27-06-2015 |
|
|
Msheireb Downtown Doha Project - BP0309 Phase 3 Raft Foundation |
Msheireb
Properties |
146,000,000.00 |
7 Months |
01-10-2012 |
02-05-2013 |
Green Line Qatar Railways Co 8,989,170,216.00 63 months 06-06-2013 05-09-2018
Underground
Sub structure Mushrieb Properties
2,440,847,589.00 32 months 12-05-2013 08-01-2016
Works Phase 3
Commercial New Port Project 820,000,000.00 28 months 13-08-2013 08-02-2016
Terminals
Q Rail Enabling Qatar Railways Co 500,000,000.00 36 months 05-07-2012 27-06-2015
Work
Qatar Intl Qatar Intl Islamic Bank
325,264,237.17 54 months 15-11-2009 30-04-2014
Islamic Bank Tower
Operating Trend: Steady
Subject has a
workforce of approximately 6,000 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 696,000,000 QR
723,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr V A Ganeshan, Senior Accountant
·
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
|
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.