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MIRA INFORM REPORT
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Report No. : |
501687 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
QATAR INTERNATIONAL CABLES COMPANY WLL (QICC) |
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Registered Office : |
Mesaieed Industrial City, Plot 92320008, PO Box 15991, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
02.06.2008 |
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Com. Reg. No.: |
37764, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject is engaged in the manufacture of low, medium and high voltage cables. |
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No. of Employees : |
265 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
QATAR - ECONOMIC OVERVIEW
Qatar’s oil and natural gas resources are the country’s main economic engine
and government revenue source, driving Qatar’s high economic growth and per
capita income levels, robust state spending on public entitlements, and booming
construction spending, particularly as Qatar prepares to host the World Cup in
2022. Although the government has maintained high capital spending levels for
ongoing infrastructure projects, low oil and natural gas prices in recent years
have led the Qatari Government to tighten some spending to help stem its budget
deficit.
Qatar’s reliance on oil and natural gas is likely to persist for the
foreseeable future. Proved natural gas reserves exceed 25 trillion cubic meters
- 13% of the world total and, among countries, third largest in the world.
Proved oil reserves exceed 25 billion barrels, allowing production to continue
at current levels for about 56 years. Despite the dominance of oil and natural
gas, Qatar has made significant gains in strengthening non-oil sectors, such as
manufacturing, construction, and financial services, leading non-oil GDP to
steadily rise in recent years to just over half the total.
Following trade restriction imposed by Saudi Arabia, the UAE, Bahrain,
and Egypt in 2017, Qatar established new trade routes with other countries to
maintain access to imports.
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Source
: CIA |
SUMMARY
Company Name :
QATAR INTERNATIONAL CABLES COMPANY WLL (QICC)
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
2nd June 2008
Commercial Registration Number :
37764, Doha
Chamber Membership Number :
15183/1
Issued Capital :
QR 90,987,000
Paid up Capital :
QR 90,987,000
Total Workforce :
265
Activities :
Manufacturers of low, medium and high voltage cables
Financial Condition :
Good
Payments :
Regular
Person Interviewed :
Shanker Raju, Chief Financial Officer
COMPANY
NAME
QATAR INTERNATIONAL CABLES COMPANY WLL (QICC)
ADDRESS
Registered &
Physical Address
Location : Mesaieed
Industrial City, Plot 92320008
PO Box :
15991
Town : Doha
Country : Qatar
Telephone : (974) 44085100 / 44673009 / 44665557 / 44085102
Facsimile : (974) 44673230
/ 44650680
Mobile : (974) 55854051 / 55890445
Email : jhemid@qicc-qatar.com
/ info@qicc-qatar.com
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Doha.
Branch Office (s)
Location Description
Al Mishaal Street Office
premises
New Salata
Doha
Al Akryah Tower Office
premises
Old Salata Road
Doha
Tel: (974) 44085100
KEY
PRINCIPALS
Name Position
Max Andres General
Manager
Anthony Mak Plant
Manager
Javid Shamusddine Sales Manager
Karima Shareef Human
Resources Manager
Shanker Raju Chief
Financial Officer
Philip Rosenel Supply
Chain Manager
LEGAL
FORM & OWNERS
Date of Establishment : 2nd
June 2008
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 37764, Doha
Chamber Member No. : 15183/1
Issued Capital : QR 90,987,000
Paid up Capital : QR 90,987,000
Name of
Shareholder (s) Percentage
Al Mirqab Capital 70%
Doha
Nexan Participation 30%
France
OPERATIONS
Activities: Engaged in the manufacture of low, medium and
high voltage cables.
Import Countries: Europe and the Far East.
Subject has a workforce of approximately 265 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: Qatari Riyals
(QR)
Year
Ending 31/12/17:
Total Sales QR
900,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Shanker Raju, Chief Financial
Officer
BANKERS
International Bank of Qatar
Al Sadd
Doha
Tel: (974) 44478000
PAYMENT
HISTORY
Regular
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched in the
following databases; Office of Foreign Assets Control (OFAC), United Nations Security
Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List,
EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse
could be found on the exact names listed within the report.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.93 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.69 |
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QAR |
1 |
INR 17.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.