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Report No. : |
320564 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
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Name : |
UNITECH QATAR FOR BUILDING & CONSTRUCTION MATERIALS LTD WLL |
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Registered Office : |
HSBC Bank Building, Salwa Road, PO Box 23910, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
06.04.2004 |
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Com. Reg. No.: |
27501 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the import and distribution of building and construction
materials. |
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No. of Employees : |
80 |
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 |
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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. 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 |
Company Name :
UNITECH QATAR FOR BUILDING & CONSTRUCTION MATERIALS
LTD
WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
6th April 2004
Commercial Registration Number :
27501, Doha
Chamber Membership Number :
8026
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
80
Activities :
Distributors of building and construction materials
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
UNITECH QATAR FOR BUILDING & CONSTRUCTION MATERIALS LTD WLL
Registered &
Physical Address
Building : HSBC Bank
Building
Street : Salwa Road
PO Box : 23910
Town : Doha
Country : Qatar
Telephone : (974) 44513302
/ 44513303
Facsimile : (974) 44513305
Email : info@unitech.com.qa
/ unitech.qatar@ikkgroup.com
/ jamila.amoudi@alkabani.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Doha.
Name Nationality Position
Ms Fatima Fouad Mohamed Al Sohouti Qatari Managing
Director
Rami Mohamed T Sabouneh - General
Manager
Moayed Saleh - Commercial
Manager
Mostafa Siraj - Finance
Manager
Maha Al Hamadi - Administration
Manager
Date of Establishment : 6th
April 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 27501, Doha
Chamber Member No. : 8026
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of
Shareholder (s)
Ms Fatima Fouad Mohamed Al Sohouti
Issam Gabbani & Partner for Building Material
Jeddah
Saudi Arabia
Tel: (966-12) 6278222 / 6295192
Activities: Engaged in the import and distribution of building and construction
materials.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 80 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
21,200,000 QR
23,450,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
HSBC Bank Middle East
Abdullah Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
No complaints regarding subject’s payments have been reported.
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.63.64 |
|
|
1 |
Rs.96.81 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.