|
Report No. : |
343134 |
|
Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MANNAI TRADING CO WLL |
|
|
|
|
Registered Office : |
Al Emadi Centre, Salwa Road, PO Box 76, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
1951 |
|
|
|
|
Com. Reg. No.: |
8191 |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Automobiles Division ·
Auto Service Centre
Division ·
Consumer Products
Division ·
Heavy Duty Workshop
Division ·
Construction Equipment
Division ·
Computer Centre
Division ·
Stores Division ·
Oilfield Products &
Services Division ·
Marble Products
Division ·
Building Supplies
Division |
|
|
|
|
No. of Employees : |
1,575 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
MANNAI TRADING CO WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Start Date :
1951
Registration Date :
14th August 1982
Commercial Registration Number :
8191, Doha
Membership Number :
393
Issued Capital :
QR 50,000,000
Paid up Capital :
QR 50,000,000
Total Workforce : 1,575
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
M Ajit, Legal Secretary
MANNAI TRADING CO WLL
Registered &
Physical Address
Building :
Al Emadi Centre
Street : Salwa Road
PO Box : 76
Town : Doha
Country : Qatar
Telephone : (974) 44558081
/ 44412555 / 44600111 / 44442402 / 44558888 / 44558084 /
4558402 /
44558383
Facsimile : (974) 44558098
/ 44411982 / 44601780
Email : info@mannai.com
Premises
Subject operates from a large suite of offices, a warehouse and a
showroom that are owned and located in the Industrial Area of Doha.
Name Position
Ahmed Mannai Managing
Director
Khalid Attiyah Mannai Director
Abdullah Ahmed Mannai Director
Salem Al Mannai Director
Issa Al Mannai Director
Alekh Grewak General
Manager
Ravi Narayan Finance
Manager
Mohamed Mahmoud Human
Resources Manager
Mohamed Helmy Administration
manager
M Ajit Legal
Secretary
Date of Establishment : Subject’s
operations date back to 1951, however it was registered on 14th
August 1982
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 8191, Doha
Membership No. : 393
Issued Capital : QR 50,000,000
Paid up Capital : QR 50,000,000
Name of
Shareholder (s) Percentage
Mannai Corporation QSC 99.80%
Rayyan Road
Salwa Industrial Area
PO Box: 76
Doha
Tel: (974) 44558888 / 44412555
Fax: (974) 44558880 / 44411982
Gulf Laboratories Co WLL 0.20%
Doha
Subject is a member of the Mannai Group of Companies, which comprises
the following concerns:
Mansal Offshore QSC
Mannai Complex
Salwa Road
PO Box: 1310
Doha
Tel: (974) 44425755 / 44421202
Fax: (974) 44433626 / 44558228
Email: mansal@mannai.com.qa
Mideast Constructors WLL
PO Box: 3325
Doha
Tel: (974) 44415025 / 44558888
Fax: (974) 44558097
Email: mecon@mannai.com.qa
Manweir Limited
PO Box: 4038
Doha
Tel: (974) 44600099 / 44601721 / 44600111
Fax: (974) 44601883
Email: manweir@mannai.com.qa
Technical Services Company Ltd (Techserv)
PO Box: 4038
Doha
Tel: (974) 44810111
A.G. Middle East
PO Box: 76
Doha
Tel: (974) 44419099
Fax: (974) 44354571
Email: agme@mannai.com.qa
Mannai Marine Co Ltd
PO Box: 8776
Doha
Tel: (974) 44412230 / 44412240
Manwell Technical Services
PO Box: 76
Doha
Tel: (974) 44810171
Fax: (974) 44601780
Mannai Air Travel
PO Box: 76
Doha
Tel: (974) 44442423
Mannai International LLC
PO Box: 9204
Dubai
United Arab Emirates
Tel: (971-4) 3373712
Fax: (971-4) 3440165
E.I.M. Investment Company Ltd
Autostrade Road
Mokattan
El Qalaa Free Zone
Cairo
Egypt
Tel: (20-2) 25060451
Arab Qatari Company For Dairy Production
Street No. 2
Salwa Industrial Area
PO Box: 8324 & 9310
Doha
Tel: (974) 44601107 / 44810516 / 44601108
Fax: (974) 44600516
Email: ghadeer@qatar.net.qa
Activities: Subject’s operations are performed through the following divisions:
Automobiles Division
Under this division subject are dealers for the Cadillac, Opel, GMC and
Hummer in Qatar. The company also distributes Subaru vehicles, as well as
agents for General Motors, Daewoo and Lada vehicles.
Mannai Trading won the General Motors 2004 Chairman's challenge award
for achieving a total annual sales increase of 64 per cent over 2003. Rick
Wagoner, Chairman and Chief Executive Officer of General Motors Corporation
presented the award to Khalid Mannai, Chairman of Mannai Trading in Monaco.
Auto Service Centre Division
Located in an area of 12,000 square metres with 139 bays, the centre is
fully equipped with the most sophisticated plant and equipment including
air-conditioned engine workshops, to provide comprehensive maintenance and
repair services for automobiles and commercial vehicles.
Consumer Products Division
Distributors for well known international companies such as Toshiba,
Moulinex, Seiko, White Westinghouse and Coleman.
Heavy Duty Workshop Division
This division specialises in the maintenance of heavy duty equipment and
machinery.
Construction Equipment Division
This division is responsible for construction equipment sale and
services, representing Massey Ferguson tractors, Grove Cranes, JCB equipment,
and a range of forklift trucks, compressors, generator sets and associated
equipment.
Computer Centre Division
Authorised dealers for Digital Equipment Corporation (DEC) and its VAX
range of super min computers. The Computer Centre can provide complete hardware
and software systems.
The centre also features an in house computer-aided design and drafting
(CAD) system as well as providing project management and maintenance for
software support to the group.
Stores Division
The company has central stores at its Salwa complex, spread over 35,000
square feet and equipped with modern multi-level rack and stacking facilities.
It has over 50,000 different items, ranging from washing machines to spare for
small appliances and automobiles.
Oilfield Products & Services Division
This division specialises in the distribution of a wide range of oil
field equipment.
Marble Products Division
Distributors of marble products and sanitary ware equipment.
Building Supplies Division
Distributors of a wide range of building materials, aluminium sheets,
plywood, tools, hand tools, and hardware
Import Countries: United States of America, United Kingdom and Japan
International Suppliers:
General Motors Overseas Distribution Corp United States of America
Detroit Diesel Allison United
States of America
White Westinghouse International United
States of America
Blue Circle Industries United
Kingdom
Groves Cranes Limited United
Kingdom
ITW Devcon United
Kingdom
Spantech Ltd United Kingdom
Fuji Heavy Industries Co Ltd Japan
Operating Trend: Steady
Subject has a workforce of approximately 1,575 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
575,000,000 QR 590,000,000
Local sources consider subject’s financial condition to be Good.
HSBC Bank Middle East
Abdullah Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
Qatar National Bank
Government House Road
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
Arab Bank Ltd
PO Box: 172
Doha
Tel: (974) 44437979 / 44422814
Fax: (974) 44410774
Standard Chartered Bank
Abdullah Bin Jassim Road
PO Box: 29
Doha
Tel: (974) 44414252
Fax: (974) 44413739
No complaints regarding subject’s payments have been reported.
Mannai Trading Co WLL is the umbrella organisation for a range of
trading activities including consumer and industrial goods ranging from
automobiles, automotive accessories and spare parts, to construction equipment,
computers and office systems, oil field supplies and building products. In
addition, the company also participates in tendering for government contracts
and projects.
Subject is a subsidiary of the Mannai Corporation and a member of the
Mannai Group of Companies, which remains one of the pacesetters in Qatar’s
business community, more than 35 years after Ahmed Mannai opened his first
enterprise.
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.65.25 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
-- |
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.