MIRA INFORM REPORT
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Report No. : |
314827 |
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Report Date : |
31.03.2015 |
IDENTIFICATION DETAILS
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Name : |
GETTCO
INTERNATIONAL |
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Registered Office : |
Doha Toys Town Building, 2nd Floor Ras Abu Aboud Street Umm Ghuwailina Area 2666 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
19.03.2001 |
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Com. Reg. No.: |
14294/12 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of general foodstuff products, including fresh and frozen
meat, chocolate, vegetables, yeast, edible oils and beverages. Subject also
distributes, paper, plastic and corrugated packaging products. |
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No. of Employee : |
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.
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Source
: CIA |
SUMMARY
Company Name : GETTCO
INTERNATIONAL
Country of Origin : Qatar
Legal Form :
Sole Proprietorship
Registration Date : 19th
March 2001
Commercial
Registration Number : 14294/12
Invested Capital : QR 200,000
Total Workforce : 120
Activities :
Distributors of general foodstuff products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY
NAME
GETTCO
INTERNATIONAL
ADDRESS
Registered & Physical
Address
Building : Doha Toys Town Building, 2nd
Floor
Street : Ras Abu Aboud Street
Area : Umm Ghuwailina Area
PO Box : 2666
Town : Doha
Country : Qatar
Telephone : (974) 44360835 / 44424546
Facsimile : (974) 44437041
Email : alshaabgruop@hotmail.com / admin@al-shaabgroup.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
KEY
PRINCIPALS
Name Position
·
Faisal Bin Jassim Al Thani Proprietor
& General Manager
·
Mohamed Samir Issa Assistant
General Manager
·
N
Sadanan Financial
Controller
LEGAL
FORM & OWNERS
Date of Establishment : 19th
March 2001
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 14294/12
Invested Capital
: QR 200,000
Mr Faisal Bin Jassim
Al Thani is the sole proprietor
of the business.
AFFILIATED
COMPANIES
·
Al Shaab International Agencies Co WLL
Doha
·
Al Shaab Technical Co WLL
Doha
·
Al Shaab Petrol Station & Car Services Co WLL
Doha
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, including fresh and frozen meat,
chocolate, vegetables, yeast,
edible oils and beverages. Subject also distributes, paper, plastic and
corrugated packaging
products.
Import Countries: Europe and the Far East.
Brand Names: NAPCO, SAVOLA, AL ALALI, DANIAH, KHAZAN,
DIAMOND, DAT SCHAUB, FOSTER CLARK,
LESAFFRE, LOACKER, AL DOSSARY, MERBA, OSRA,
LAYL, FARAGALLA, MALTAGLIATI and
HAVIX
Operating Trend: Steady
Subject has a
workforce of 120 employees.
FINANCIAL
DATA
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 43,000,000 QR 46,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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 business is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.92.94 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
ANK |
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.