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Report No. : |
336048 |
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Report Date : |
11.08.2015 |
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|
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Tel No.: |
+974-4667714 |
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Fax No.: |
+974-4660040 |
IDENTIFICATION DETAILS
|
Name : |
AL BALAGH TRADING
& CONTRACTING CO WLL |
|
|
|
|
Registered Office : |
Al Balagh Building, D Ring Road, Al Hilal Area, P O Box: 5777, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Subject’s operations date back to 1975, however it was registered on 1st January 1991 |
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|
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Com. Reg. No.: |
15327, Doha |
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|
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|
Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Construction Division ·
Mechanical Gas & Oil Field Division ·
Trading Division ·
Medical Division |
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|
|
|
No. of Employees : |
275 |
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 |
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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 |
|
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 |
Company Name : AL BALAGH
TRADING & CONTRACTING CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability – WLL
Start Date :
1975
Registration Date : 1st
January 1991
Commercial
Registration Number : 15327,
Doha
Chamber Membership
Number : 723/1
Issued Capital : QR
5,000,000
Paid up Capital : QR
5,000,000
Total Workforce :
275
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Henry D’Souza,
Finance Manager
AL BALAGH TRADING
& CONTRACTING CO WLL
Building : Al Balagh Building
Street : D Ring Road
Area : Al Hilal Area
PO Box : 5777
Town : Doha
Country : Qatar
Telephone : (974) 44667714 / 44667715 / 44667716
Facsimile : (974) 44660040
Email : albalagh@albalagh.com / henry@albalagh.com
Subject operates
from a large suite of offices and a warehouse that are owned and located in the
Suburban Business Area of Doha.
Branch Offices
Subject has branch offices and showrooms located in Doha, Najma and
Mushaireb.
Name Position
·
Sherida
Saeed Jubran Al Kaabi Managing
Director
·
Mrs
Noura Rashid Mohamed Al Kaabi Director
·
Srinivasan Venkitishan General
Manager
·
Henry
D’Souza Finance
Manager
·
Albert Rijo Sales
Manager – Medical Division
·
Suresh Kumar Sales
Manager – Construction Division
·
K Sujair Sales
Manager – Mechanical Division
·
Chacko Baby Construction
Manager
·
Ajo George Administration
Executive
Date of Establishment : Subject’s
operations date back to 1975, however it was registered on 1st
January 1991
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 15327, Doha
Chamber Member No. : 723/1
Issued Capital : QR 5,000,000
Paid up Capital : QR 5,000,000
Name of Shareholder
(s) Percentage
·
Sherida
Saeed Jubran Al Kaabi 90%
·
·
Mrs
Noura Rashid Mohamed Al Kaabi 10%
·
Al
Balagh Scoor Co WLL
PO Box: 5777
Doha
Tel: (974) 44320735
Fax: (974) 44440736
·
Al
Balagh Dynaspex Co
Doha
·
Doha
Floors Co
Doha
Activities: Subject’s operations are performed through
the following divisions:
·
Construction
Division
Engaged as general construction contractors with an A grade
classification
The division undertakes to execute medium and large projects on turnkey
basis as main contractor in construction of commercial complexes, sports
facilities, industrial projects and various purpose built projects having
clientele of all the ministries and quasi Govt. organizations in Qatar.
·
Mechanical
Gas & Oil Field Division
Providers of construction and maintenance needs of onshore/offshore oil
and gas industries.
·
Trading
Division
Distributors of engineering products, industrial consumables, equipment,
electrical, safety & security, building hardware, tools and chemicals.
·
Medical
Division
Distributors of medical
equipment, dental equipment and laboratory products.
Import
Countries: Italy, Spain,
Denmark and the United Kingdom.
International
Suppliers:
·
Titan United
Kingdom
·
Franklin
Hodge United Kingdom
·
Albert
Seglar Italy
·
Ventomatic Italy
·
Gunnebo Spain
·
Ulma
Forja Spain
·
Logstor
Ror Denmark
·
Dr
Fritz GmbH Germany
Clients:
·
Qatar
Airways
·
Hamad
Medical Corporation
·
Qatar
Petrochemical Corporation
·
Ministry
of Defence
·
Qatar
Gas
Operating Trend: Steady
Subject has a
workforce of approximately 275 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 314,000,000 QR 320,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Henry D’Souza, Finance Manager
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax:
(974) 44416631 / 44410625
·
Qatar
National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 4415020
No complaints
regarding subject’s payments have been reported.
Credit amount 573,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.98.76 |
|
Euro |
1 |
Rs.69.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.