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Report No. : |
302713 |
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Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TECHNICAL AGRICULTURAL COMPANY |
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Registered Office : |
Vegetable Central Market Salwa Road PO Box 10670 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.05.2010 |
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Com. Reg. No.: |
46012, Doha |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of fruit, vegetables
and other agricultural commodities |
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No. of Employees : |
03 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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
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Source
: CIA |
Company Name :
TECHNICAL AGRICULTURAL COMPANY
Country of Origin :
Qatar
Legal Form :
Limited Liability Company
Registration Date :
27th May 2010
Commercial Registration Number :
46012, Doha
Membership Number :
21383
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
3
Activities :
Distributors of fruit, vegetables and other agricultural commodities
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
TECHNICAL AGRICULTURAL COMPANY
Location : Vegetable
Central Market
Street : Salwa Road
PO Box :
10670
Town : Doha
Country : Qatar
Telephone : (974) 44821336
Facsimile : (974) 44821336
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
· Hamd Khalid Hassan
Al Abdullah Managing
Director
Date of
Establishment : 27th
May 2010
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 46012, Doha
Membership No. : 21383
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
· Hamd Khalid Hassan
Al Abdullah 100%
Activities: Engaged in the import and distribution of fruit, vegetables and other
agricultural commodities.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 3 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
8,200,000 QR 8,500,000
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
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.10 |
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1 |
Rs.94.10 |
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Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
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.