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Report No. : |
307596 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL PAINT
FACTORIES CO WLL |
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Registered Office : |
Street No. 41,
Gate No. 29, New Industrial Area, P O Box: 40544, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
13.01.1990 |
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Com. Reg. No.: |
12533 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Production and
Marketing of Decorative, Industrial and Marine Paints. |
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No. of Employees : |
120 |
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) |
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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 |
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 : NATIONAL PAINT
FACTORIES CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 13th
January 1990
Commercial
Registration Number : 12533
Chamber Membership
Number : 385/0
Issued Capital : QR
3,500,000
Paid up Capital : QR
3,500,000
Total Workforce : 120
Activities :
Production and marketing of decorative, industrial and marine paints
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ayman Ismail, Finance Manager
NATIONAL PAINT FACTORIES
CO WLL
Street : Street No. 41, Gate No. 29
Area : New Industrial Area
PO Box : 40544
Town : Doha
Country :
Telephone : (974) 44601602 / 44601603
Facsimile : (974) 44600368 / 44602721
Email : npf@qatar.net.qa
Subject operates
from a medium sized suite of offices, a warehouse and a factory that are owned
and located in the Industrial Area of Doha.
Name Nationality Position
·
Saleh Ahmed Al Khulaifi Qatari Managing
Director
·
Michael Fayeq Al Sayegh Jordanian Director
·
John
Ibrahim - Commercial
Manager
·
Ayman Ismail - Finance
Manager
·
Ms Janet Salvador - Purchasing
Manager
·
Mohamed Bakro - Quality
Control Manager
Date of Establishment : 13th
January 1990
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 12533
Chamber Member No. : 385/0
Issued Capital : QR 3,500,000
Paid up Capital : QR 3,500,000
·
Saleh Ahmed Al Khulaifi
·
Michael Fayeq Al Sayegh
·
Heirs of Salim Fayeq Al Sayegh
·
Fibre
Glass Factory
New Industrial Area
PO Box: 40544
Doha
Qatar
Tel: (974) 44603629
·
National
Paints Factory Co Ltd
PO Box: 5822
Sharjah
United Arab Emirates
Tel: (971-6) 5340111
Fax: (971-6) 5340222
Email: npfcl@national-paints.com
·
National
Paints Factory Co Ltd
Abu Alanda
PO Box: 533
Amman
Jordan
Tel: (962-6) 4162481
Fax: (962-6) 4162483
Activities: Engaged in the production and marketing of
decorative, industrial and marine paints.
Import
Countries: United Arab
Emirates, Germany and the United Kingdom
International Suppliers:
·
Emic Dubai,
United Arab Emirates
·
Cristal Germany
·
High
Tech United
Kingdom
Brand Names: NATIONAL, MAX and DOHA
Operating Trend: Steady
Subject has a
workforce of 120 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 96,750,000 QR 100,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Ayman Ismail,
Finance Manager.
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
·
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.
Please note that
the correct CR No. is 12533. The subject had no knowledge of Reg No. 4980.
Incorporated in 1990,
National Paint Factories Co WLL is well established in the local paints market.
The company deals with a number of well known international organisations and
enjoys a good reputation for the quality of its products.
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.62.20 |
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|
1 |
Rs.95.99 |
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Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.