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Report No. : |
306591 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
17.12.1982 |
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Com. Reg. No.: |
11000 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the wholesale and retail of sanitary ware products, ceramics, tiles and marble |
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No of Employees : |
15 |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Company Name :
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 17th December 1992
Commercial Registration Number : 11000
Chamber Membership Number : 1203/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 15
Activities : Wholesale and retail of sanitary ware products, ceramics, tiles and
marble
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Sayed, Accountant
AL SHARK SANITARY
WARE CO
Street : Mansoora Street
Area : Najma Area
PO Box : 4595
Town : Doha
Country : Qatar
Telephone : (974) 44443663
Facsimile : (974) 44356656
Email : shark4595@yahoo.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
Name Position
·
Abdullah
Mohamed Saleh Al Amoudi Managing
Director
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Ali
Mohamed Saleh Al Amoudi Director
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Khalid
Mohamed Saleh Al Amoudi Director
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Abdul
Hamid Mohamed Saleh Al Amoudi Director
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Mohamed
Sayed Accountant
Date of Establishment : 17th
December 1992
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 11000
Chamber Member No. : 1203/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
·
Abdullah
Mohamed Saleh Al Amoudi
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Ali
Mohamed Saleh Al Amoudi
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Khalid
Mohamed Saleh Al Amoudi
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Abdul
Hamid Mohamed Saleh Al Amoudi
Activities: Engaged in the wholesale and retail of
sanitary ware products, ceramics, tiles and marble.
Import
Countries: Spain, Italy and
India
Operating Trend: Steady
Subject has a
workforce of 15 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 17,350,000 QR 18,220,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44428686
Fax: (974) 44428734
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.73 |
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1 |
Rs. 94.65 |
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Euro |
1 |
Rs. 70.78 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.