MIRA INFORM REPORT
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Report No. : |
320560 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
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Name : |
QATAR INSULATION
CO WLL |
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Registered Office : |
Salwa Road 7943 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
10.10.2001 |
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Com. Reg. No.: |
23247,
Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged in the
import and distribution of insulation products |
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No. of Employee : |
10 |
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) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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. GDP was driven largely by the oil and gas sector however
growth in the manufacturing, construction, andFINANCIAL
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 : QATAR
INSULATION CO WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 10th
October 2001
Commercial Registration
Number : 23247, Doha
Chamber Membership
Number : 588/1
Issued Capital : QR
1,000,000
Paid up Capital : QR
1,000,000
Total Workforce : 10
Activities :
Import and distribution of insulation products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY
NAME
QATAR INSULATION CO WLL
ADDRESS
Registered & Physical
Address
Location : Salwa Road
PO Box : 7943
Town : Doha
Country : Qatar
Telephone : (974) 44995077
/ 44995090 / 44995019 / 44317550
Facsimile : (974) 44995088
/ 44317551
Email : qinsulation@qatar.net.qa
Premises
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Doha.
KEY
PRINCIPALS
Name Position
·
Ghanim Bin Saad Al Saad Managing
Director
·
Sangran
Keshore General
Manager
·
Pradeep Rajan Chief
Executive Officer
·
Ahmed Abdulakrim Chief
Financial Officer
·
Sinna
Kannan Business
Development Manager
·
Amit
Shasta Sales
Manager
·
Miju
Modeyal Accountant
LEGAL
FORM & OWNERS
Date of Establishment : 10th
October 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 23247, Doha
Chamber Member No. : 588/1
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of
Shareholder (s)
·
Ghanim Bin Saad Al Saad
·
Ghanim Bin Saad Al Saad Holding
Qatar
AFFILIATED
COMPANIES
·
Jersey Engineering & Trading Co
·
Jersey Industrial Co
·
Filing Co
·
Rizon
Jet
·
Auto Z
·
Naira
International Group
·
Ta’allum
Group
·
Firelink
·
Khalid
Manufacturing Company
·
Acciona
Mena
·
Media
Group International
·
Sirti
Mena
·
Mourjan
Marinas
OPERATIONS
Activities: Engaged in the import and distribution of
insulation products.
Import
Countries: Kuwait, India
and the United Arab Emirates.
International
Suppliers:
·
Kimmco Kuwait
·
Gulfcool
Therm Kuwait
·
Aerfoam United Arab Emirates
·
Rockwool
Ltd India
Operating Trend: Steady
Subject has a
workforce of 10 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 39,200,000 QR 40,375,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Doha
Bank Ltd
Salwa Road
PO Box: 2176
Doha
Tel: (974) 44882180 / 44884888 / 44882181
Fax: (974) 44881768
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.52 |
|
|
1 |
Rs.95.96 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
|
<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.