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Report No. : |
349505 |
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Report Date : |
17.11.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
New Industrial Area, Gate No. 1, Street No. 41, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
36143 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the Manufacture of Firefighting Equipment and
Extinguishers. |
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No. of Employees : |
45 |
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) |
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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. 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.
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Source
: CIA |
Company Name :
Country of Origin :
Qatar
Legal Form :
Sole Proprietorship
Registration Date :
1999
Commercial Registration Number :
36143
Chamber Membership Number :
13681
Invested Capital :
QR 200,000
Total Workforce :
45
Activities :
Manufacturers of fire fighting equipment and extinguishers
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
Person Interviewed :
Nael Rami, Marketing Manager
QATAR FACTORY FOR FIRE FIGHTING EQUIPMENT (NAFFCO)
Registered &
Physical Address
Location : New
Industrial Area, Gate No. 1, Street No. 41
PO Box : 55644
Town : Doha
Country : Qatar
Telephone : (974) 44025888
Facsimile : (974) 44114630
Mobile : (974) 55569178
Email : faisal@naffco.com
/ mkgt_secretary@naffco.com
Please note that the correct PO Box number is 55644 and not 55844.
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Doha.
Branch Office (s)
Location Description
Salwa Road Office
premises
Doha
Tel: (974) 44694172
Fax: (974) 44694174
Name Position
Khalid Al Khateeb Proprietor
& General Manager
Faisal Zaki Abdio Assistant
General Manager
Mohamed Tahseen Finance
Manager
Nael Rami Marketing
Manager
Date of Establishment : 1999 (production
started in 2005)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 36143
Chamber Member No. : 13681
Invested Capital : QR 200,000
Mr Khalid Al Khateeb is the sole proprietor of the business.
Naffco FZCO
PO Box: 2621691
Dubai
United Arab Emirates
Tel: (971-4) 8151111
Fax: (971-4) 8151222
Activities: Engaged in the
manufacture of firefighting equipment and extinguishers.
Subject
is ISO 9001 accredited.
Import Countries: Europe
and the United States of America.
International
Suppliers:
Honeywell Inc United
States of America
Fyke Inc United
States of America
Operating Trend: Steady
Subject has a workforce of 45 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
17,500,000 QR
18,160,000
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.
Please note that the correct name of the subject is “Qatar Factory for
Fire Fighting Equipment (NAFFCO)” and not “Qatar Factory for Fire Fighting
Equipment and Safety Systems”.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.17 |
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1 |
Rs.100.65 |
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Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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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.