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Report No. : |
305671 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
AL WAFA TRADING
COMPANY WLL |
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Registered Office : |
Airport Road, Industrial
Area, P O Box: 778, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
13542, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesale and
Retail of General Building Materials and Construction Equipment, as well as
timber, wooden products and hardware. |
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No. of Employees : |
35 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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. Throughout the
financial crisis Qatari authorities sought to protect the local banking sector,
with direct investments into domestic banks. GDP is driven largely by changes
in oil prices and by investment in the energy sector. Economic policy is
focused on developing Qatar's nonassociated natural gas reserves and increasing
private and foreign investment in non-energy sectors, but oil and gas still
account for more than 50% of GDP, roughly 85% of export earnings, and 50% 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 57 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 is expected to open in
mid-2014 with an annual passenger capacity of 24 million on initial opening and
50 million when complete.
|
Source
: CIA |
Company Name : AL WAFA TRADING COMPANY WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 1st
January 1991
Commercial
Registration Number : 13542,
Doha
Chamber Membership
Number : 376/1
Issued Capital : QR
500,000
Paid up Capital : QR
500,000
Total Workforce : 35
Activities :
Wholesale and retail of general building materials and construction
equipment
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samer Ahmed
Reda Abbass, General Manager
AL WAFA TRADING
COMPANY WLL
Street : Airport Road
Area :
Industrial Area
PO Box : 778
Town : Doha
Country : Qatar
Telephone : (974) 44600849
Facsimile : (974) 44504855
Email : sales@alwafa.com.qa / admin@alwafa.com.qa / amir@alwafatrading.com
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Industrial Area of Doha.
Branch Office
(s)
Location Description
·
Industrial
Area Warehouse
premises
Doha
Tel : (974) 44600849
Fax: (974) 44602536
Name Nationality Position
·
Ahmed
Reda Abbass Jordanian Managing Director
·
Khalid
Ahmed Al Suwaidi Emirati Director
·
Samer
Ahmed Reda Abbass Jordanian General Manager
·
Naeem
Mohamed - Accountant
·
Arif
Mohamed - Sales
Manager
Date of Establishment : 1st
January 1991
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 13542, Doha
Chamber Member No. : 376/1
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder
(s)
·
Khalid
Ahmed Al Suwaidi
·
Ahmed
Reda Abbass
Activities: Engaged in the wholesale and retail of
general building materials and construction equipment, as well as timber,
wooden products and hardware.
Import
Countries: Oman and the
United Arab Emirates.
International
Suppliers:
·
Sadolin
Oman Oman
·
National
Paints United Arab
Emirates
Operating Trend: Steady
Subject has a
workforce of 35 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 18,925,000 QR 19,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Doha
Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints
regarding subject’s payments have been reported.
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 company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.