MIRA INFORM REPORT

 

 

Report No. :

354597

Report Date :

17.12.2015

 

IDENTIFICATION DETAILS

 

Name :

AL RAWABI FOOD CENTRE WLL

 

 

Registered Office :

Al Rayyan Road, Al Rayyan Area, PO Box 21651, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

1979

 

 

Com. Reg. No.:

31151

 

 

Legal Form :

With Limited Liability – WLL

 

 

Line of Business :

Subject’s operations are performed through the following divisions:

 

·         Fruit & Vegetable Division

·         Al Rawabi Foodstuff Division

·         Electronic Division

·         Catering Division

 

 

No. of Employees :

530

 

 

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 RAWABI FOOD CENTRE WLL

Country of Origin                                   : Qatar

Legal Form                                           : With Limited Liability - WLL

Registration Date                                  : 1979

Commercial Registration Number           : 31151, Doha

Chamber Membership Number               : 10406

Issued Capital                                       : QR 200,000

Paid up Capital                                     : QR 200,000

Total Workforce                                     : 530

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Nawaz Kapatamal, Financial Controller

 

 

 

COMPANY NAME

 

AL RAWABI FOOD CENTRE WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Al Rayyan Road

Area                : Al Rayyan Area

PO Box            : 21651

Town                : Doha

Country             : Qatar

Telephone         : (974) 44812374 / 44812582 / 4689844

Facsimile          : (974) 44820974 / 44806446 / 46898399

Mobile              : (974) 55832370 / 66670176

Email                : alrawabifoodcentre@hotmail.com

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are owned and located in the Central Business Area of Doha.

 

Branch Office (s)

 

Location                                                                                               Description

 

Street No 36, Gate No 249                                                                     Warehouse premises

Industrial Area

Doha

Tel: (974) 44800621

Fax: (974) 40297178

 

Subject has branch offices located in Al Khor, Wakara, Najma and Asmak.

 

 

KEY PRINCIPALS

 

Name                                                               Nationality                    Position

 

Misfer Hameed Mohamed Al Shawani                 Qatari                           Managing Director

 

Malinti Prambil Abdullah                                    Indian                           Director

 

Mohamed Sadiq Panjourti                                  Indian                           Director

 

Mahmoud Moulinder                                          Indian                           Director

 

Mohamed Abdullah                                           Indian                           Director

 

Malymah Valappil Ahmed                                  Indian                           Director

 

V P Ismail                                                              -                              Outlets Manager

 

B Siju                                                                    -                              Sales Manager

 

Faisal Baniligal                                                        -                             Financial Manager

 

Nawaz Kapatamal                                                   -                              Financial Controller

 

Mohamed Jamshir                                                  -                              Accountant

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1979

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.   : 31151, Doha

 

Chamber Member No.  : 10406

 

Issued Capital              : QR 200,000

 

Paid up Capital            : QR 200,000

 

 

Name of Shareholder (s)

 

Misfer Hameed Mohamed Al Shawani

 

Malinti Prambil Abdullah

 

Mohamed Sadiq Panjourti

 

Mahmoud Moulinder     

 

Mohamed Abdullah

 

Malymah Valappil Ahmed

 

 

AFFILIATED COMPANIES

 

Five Group Trading and Contracting WLL

Doha

 

Mars Shopping Centre

Doha

 

Grand Hypermarket

Doha

 

Grand Shopping Centre

Doha

 

Doha Rawabi Food Centre

Doha

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

Fruit & Vegetable Division

 

Wholesalers and retailers of fruit and vegetables.

 

Al Rawabi Foodstuff Division

 

Wholesalers and retailers of general foodstuff products.

 

Electronic Division

 

Wholesalers and retailers of household electrical appliances, computers and cash machines.

 

Catering Division

 

Providers of airport catering services.

 

Import Countries: Europe and the Far East.

 

International Suppliers:

 

Al Madina Export Ltd                 India

Poojath Trading                         India

A K Enterprises                         Pakistan

Al Hamza Trading                      Pakistan

 

Operating Trend: Steady

 

Subject has a workforce of approximately 530 employees.

 

 

FINANCIAL DATA

 

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 47,620,000                          QR 50,000,000

 

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

 

The above figures were provided by Mr Nawaz Kapatamal, Financial Controller

 

 

BANKERS

 

Doha Bank Ltd

PO Box: 3818

Doha

Tel: (974) 44435444

Fax: (974) 44416631 / 44410625

 

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

 

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.66.85

UK Pound

1

Rs.100.57

Euro

1

Rs.73.15

QR

1

Rs.18.31

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

Report Prepared by :

TPT

 

               

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%)

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