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Report No. : |
344586 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
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Name : |
QATAR CHEMICAL AND
PETROCHEMICAL MARKETING AND DISTRIBUTION COMPANY (MUNTAJAT) QJSC |
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Registered Office : |
Al Dana Tower,
Street No. 837, Block 7, Area 61 West Bay, P O Box: 24445, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.12.2012 |
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Com. Reg. No.: |
57121 |
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Legal Form : |
Qatari Joint Stock Company |
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Line of Business : |
Marketing of
Petroleum, Petrochemical, Polymer and Fertilizer Products. |
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No. of Employees : |
120 |
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
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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 : QATAR
CHEMICAL AND PETROCHEMICAL MARKETING AND
DISTRIBUTION COMPANY (MUNTAJAT) QJSC
Country of Origin : Qatar
Legal Form :
Qatari Joint Stock Company
Registration Date : 1st
December 2012
Commercial
Registration Number : 57121
Chamber Membership
Number : 29951
Issued Capital : QR
365,000,000
Paid up Capital : QR
365,000,000
Total Workforce :
120
Activities :
Marketing of petroleum, petrochemical, polymer and fertilizer products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
QATAR CHEMICAL AND PETROCHEMICAL MARKETING AND DISTRIBUTION COMPANY
(MUNTAJAT) QJSC
Building : Al Dana Tower
Street : Street No. 837, Block 7, Area
61
Area : West Bay
PO Box : 24445
Town : Doha
Country : Qatar
Telephone : (974) 40132574 / 40211000
Facsimile : (974) 40139140 / 40211601
Email : info@muntajat.qa
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
Name Position
·
Dr
Mohammed Bin Saleh Al Sada Chairman
·
Abdulrahman
Ahmad Al Shaibi Vice
Chairman
·
Abdulrahman
Ali Al Abdulla Director
·
Saad
Abdulla Al Kuwari Director
·
Ali
Nasser Telfat Director
·
Rafic
Naamani Marketing
Manager
·
Yousef
Jeham Al Kuwari Sales
Manager
·
Dr Mark
Betts Operations
Manager
· Khalid Ali Al Naemi Finance
Manager
· Abdulrahman Al-Naama Administration
Manager
· Abdul Moniem Al
Majid Purchasing
Manager
Date of Establishment : 1st
December 2012
Legal Form :
Qatari Joint Stock Company
Commercial Reg. No. : 57121
Chamber Member No. : 29951
VAT
No. : BE0567725855
Issued Capital : QR 365,000,000
Paid up Capital : QR 365,000,000
Name of Shareholder
(s) Percentage
·
Government
of Qatar 100%
Activities: Engaged in the marketing of petroleum,
petrochemical, polymer and fertilizer products.
Muntajat is now
responsible for marketing, sales and distribution activities for 100% of
chemicals, polymers and fertilisers produced in the State of Qatar. It has consolidated
chemical and petrochemical marketing and distribution efforts into a single
entity to provide adroitness in doing business and better serve global demands.
On 20th
July 2014 Muntajat signed a two year contract with Qatar Navigation QSC for the
time charter of the LPG/C Almarona to primarily transport ammonia exports from
Qatar to Muntajat customers around the world.
Subject has a
workforce of 120 employees.
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Doha
Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
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|
1 |
Rs.99.54 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ASH |
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.