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Report No. : |
344524 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SUNCONS TRADING
& CONTRACTING WLL |
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Registered Office : |
Building No. 1, Shop No. 20 Barwa Village 202293 Doha |
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Country : |
Qatar |
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Date of Incorporation : |
04.10.2011 |
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Com. Reg. No.: |
52604, Doha |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Subjects operations
are performed through the following divisions: ·
Foodstuff Division Engaged in the
import and distribution of general foodstuffs and agro commodities such as
Basmati rice and Sona Masoori rice ·
Contracting Division Engaged as general
contractors for civil and electric foundation works. |
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No. of Employee : |
100 |
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 : SUNCONS
TRADING & CONTRACTING WLL
Country of Origin : Qatar
Legal Form :
With Limited Liability - WLL
Registration Date : 4th
October 2011
Commercial Registration
Number : 52604, Doha
Issued Capital : QR
200,000
Paid up Capital : QR
200,000
Total Workforce : 100
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samba Shiva
Rao, Managing Director
SUNCONS TRADING &
CONTRACTING WLL
Building : Building No. 1, Shop No. 20
Area : Barwa Village
PO Box : 202293
Town : Doha
Country : Qatar
Telephone : (974) 44550945
Facsimile : (974) 44817437
Mobile : (974) 55831779 / 30751122
Email : info@suncons.net / suncons@ymail.com
Please note that
the subject had no knowledge of the address, Building 493, Street 43,
Industrial Area, Doha. The subject is soon to move to the following address, Concord Business Centre, C Ring Road, Doha.
Subject operates from
a medium sized suite of offices and a shop that are rented and located in the
Central Business Area of Doha.
Name Nationality Position
·
Samba
Shiva Rao Indian Managing
Director
·
Hassan
Yousef Al Baker Qatari Director
·
Mahesh
Yarramsetti - Administration
Manager
·
Raviraj Kondapalli - Operations
Manager
·
S Krishna - Financial
Controller
·
Sai Ram - Sales
Executive
·
Waleed Al Sayed - Public
Relations Officer
Date of Establishment : 4th
October 2011
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 52604, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Samba
Shiva Rao
·
Hassan
Yousef Al Baker
·
Snow King WLL
Doha
Activities: Subjects operations are performed through
the following divisions:
·
Foodstuff Division
Engaged in the import and distribution of general foodstuffs and agro
commodities such as Basmati rice and Sona Masoori rice
·
Contracting Division
Engaged as general contractors
for civil and electric foundation works.
Import
Countries: Europe and India
International Suppliers:
·
S K Brothers India
·
Alaa Foodstuff India
·
CCL Foodstuff India
Operating Trend: Steady
Subject has a
workforce of 100 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 25,000,000 QR 26,220,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Paribas
PO Box: 2636
Doha
Tel: (974) 44430346 / 44430344
Fax: (974) 44430121
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
|
1 |
Rs.99.50 |
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Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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 |
-- |
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.