3decades

MIRA INFORM REPORT

Report No. :	487151
Report Date :	25.01.2018

IDENTIFICATION DETAILS

Name :	NEWTECH ENG & TRAD EST

Registered Office :	Building No. 5, Shop No. 10, Barwa, PO Box 6193, Doha

Country :	Qatar

Financials (as on) :	31.12.2017

Date of Incorporation :	30.10.1983

Com. Reg. No.:	8863/32, Doha

Legal Form :	Sole Proprietorship

Line of Business :	Subject is engaged in the import and distribution of building materials and hardware.

No. of Employees :	8

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Qatar

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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 Abudget deficit in 2017 of 8.1% of GDP.

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.

Source : CIA

SUMMARY

Company Name : NEWTECH ENG & TRAD EST

Country of Origin : Qatar

Legal Form : Sole Proprietorship

Registration Date : 30^th October 1983

Commercial Registration Number : 8863/32, Doha

Invested Capital : QR 100,000

Total Workforce : 8

Activities : Distributors of building materials and hardware

Financial Condition : Fair

Payments : No Complaints

Operating Trend : Steady

COMPANY NAME

NEWTECH ENG & TRAD EST

ADDRESS

Registered & Physical Address

Building : Building No. 5, Shop No. 10

Area : Barwa

PO Box : 6193

Town : Doha

Country : Qatar

Telephone : (974) 44311063

Facsimile : (974) 44311062 / 44353482

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Doha.

KEY PRINCIPALS

Name Nationality Position

Mohamed Humaid M A Al Shawani Qatari Proprietor

Ajay Kumar Viyar - General Manager

Anil M P Pillai - Sales Manager

Jagdish Kumar K R - Financial Controller

LEGAL FORM & OWNERS

Date of Establishment : 30^th October 1983

Legal Form : Sole Proprietorship

Commercial Reg. No. : 8863/32, Doha

Invested Capital : QR 100,000

Mr Mohamed Humaid M A Al Shawani is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of building materials and hardware.

Import Countries: Europe and the Far East

Operating Trend: Steady

Subject has a workforce of 8 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Qatari Riyals (QR)

Year Ending 31/12/16: Year Ending 31/12/17:

Total Sales QR 18,600,000 QR 19,125,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

Doha Bank Ltd

PO Box: 3818

Doha

Tel: (974) 44435444

Fax: (974) 44416631 / 44410625

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

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 the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.64
UK Pound	1	INR 89.32
Euro	1	INR 78.45
QAR	1	INR 17.46

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.