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Report No. : |
348228 |
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Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TYRE CENTRE WLL |
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Registered Office : |
ITC Building No. 5, 1st Floor, Abo Hamoor Area, 51 & 47036,
Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1956 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject Engaged in the import and
distribution of automotive tyres, batteries and spare parts. Subject also
operates carwashes. |
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No. of Employees : |
50 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 : INTERNATIONAL TYRE CENTRE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability – WLL
Start Date : 1956
Registration Date : 17th December 2002
Commercial Registration Number : 25474, Doha
Chamber Membership Number : 6808
Issued Capital : QR 515,000
Paid up Capital : QR 515,000
Total Workforce : 50
Activities : Import and distribution of automotive tyres, batteries and spare parts.
Subject also operates carwashes
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Jeeboy P Mani, Finance Manager
COMPANY NAME: INTERNATIONAL TYRE CENTRE WLL
Building :
ITC Building No. 5, 1st Floor
Area : Abo Hamoor Area
PO Box : 51
& 47036
Town :
Doha
Country :
Qatar
Telephone :
(974) 40157000
Facsimile :
(974) 44134909
Mobile :
(974) 55736889 / 55881764
Email : itcqatar@qatar.net.qa
/ vishwas@itcdoha.com
Please note that the subject had no knowledge of the
address, Holding Malis CPS Counter, Hak Building, Doha.
Subject operates from a medium sized suite of offices and a
warehouse that are owned and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
· Doha
Industrial Area Showroom
premises
Doha
Tel:
(974) 44504972
· Farj
Bin Mahmoud Street Showroom
premises
Doha
Tel:
(974) 44316378
· Salwa
Road Showroom
premises
Doha
Tel:
(974) 44504972
· Waqra Showroom
premises
Doha
Tel:
(974) 44151218
Name Position
· Marzouk
Mohamed Al Shamlan Managing
Director
· Tariq
Marzouk Mohamed Al Shamlan Director
· Mohamed
Marzouk Mohamed Al Shamlan Director
· Shamlan
Marzouk Mohamed Al Shamlan Director
· Mullethvalpil
Vishwas General
Manager
· Jeeboy
P Mani Finance
Manager
· Abid
Munir Sales
Manager
Date
of Establishment : 1956,
however subject was registered on 17th December 2002.
Legal
Form : With
Limited Liability - WLL
Commercial
Reg. No. :
25474, Doha
Chamber
Member No. : 6808
Issued Capital : QR
515,000
Paid up Capital :
QR 515,000
· Marzouk
Mohamed Al Shamlan
· Tariq
Marzouk Mohamed Al Shamlan
· Mohamed
Marzouk Mohamed Al Shamlan
· Shamlan
Marzouk Mohamed Al Shamlan
· Qatar
Trading Co
Doha
· Marzouk
Al Shamlan & Sons Co
Doha
Activities: Engaged in the import and distribution
of automotive tyres, batteries and spare parts. Subject also
operates carwashes.
Import Countries: Europe, the Far East, Canada
and the United States of America
International Suppliers:
· Goodyear United States of America
· Falcon Japan
· MRF India
· Runway China
· Varta Germany
· Amron India
· Double Coin China
· Solideal Sri
Lanka
· OHTSU Japan
· OPTIMA Canada
Operating Trend: Steady
Subject has a workforce of 50 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
20,425,000 QR
20,760,000
Local sources consider subject’s financial condition to be
Fair.
The above financial figures are based on estimations by our
local sources.
·
Qatar National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
·
Commercial Bank of Qatar Ltd (QSC)
Salwa Road
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
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.66.34 |
|
UK Pound |
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.45 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TRU |
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.