MIRA INFORM REPORT

 

 

Report No. :

329248

Report Date :

30.06.2015

 

IDENTIFICATION DETAILS

 

Name :

LUSAIL MINERAL WATER FACTORY

 

 

Registered Office :

Industrial Area, Zone 81, P O Box: 560 & 60701, Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

12.01.2012

 

 

Com. Reg. No.:

53847, Doha

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Processing and Bottling of Mineral Water.

 

 

No. of Employees :

4

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate 

 

 

Payment Behaviour :

Unknown

 

 

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                                    : LUSAIL MINERAL WATER FACTORY

Country of Origin                                   : Qatar

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 12th January 2012

Commercial Registration Number           : 53847, Doha

Invested Capital                                    : QR 200,000

Total Workforce                                     : 4

Activities                                               : Processing and bottling of mineral water.

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                : Nasser Sultan Al Hemaidi, Proprietor & General Manager

 

COMPANY NAME

 

LUSAIL MINERAL WATER FACTORY

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Industrial Area, Zone 81

 

PO Box            : 560 & 60701

 

Town                : Doha

Country             : Qatar

 

Telephone         : (974) 66547777

 

Premises

 

Subject operates from a small suite of offices and a factory that are rented and located in the Industrial Area of Doha.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·        Nasser Sultan Al Hemaidi                                                                 Proprietor & General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th January 2012

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 53847, Doha

 

Invested Capital           : QR 200,000

 

Mr Nasser Sultan Al Hemaidi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Subject will be engaged in the processing and bottling of mineral water. Production will begin in 2016

 

Subject has a workforce of 4 employees.

 

 

FINANCIAL DATA

 

Companies registered in Qatar are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Banque Paribas

PO Box: 2636

Doha

Tel: (974) 44430346 / 44430344

Fax: (974) 44430121

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.92

UK Pound

1

Rs.100.40

Euro

1

Rs.70.41

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.