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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

487433

Report Date :

29.01.2018

 

IDENTIFICATION DETAILS

 

Name :

CASTLE FOR BUILDING MATERIALS CO WLL

 

 

Registered Office :

Sayer Building No. B15 Barwa Commercial Avenue PO Box 15756 Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

19.08.2004

 

 

Com. Reg. No.:

287765

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Subject is engaged in the import and distribution of building materials.

 

 

No. of Employees :

13

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

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

A2

A2

 

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                                    : CASTLE FOR BUILDING MATERIALS CO WLL

Country of Origin                                   : Qatar

Legal Form                                           : With Limited Liability - WLL

Registration Date                                  : 19th August 2004

Commercial Registration Number           : 287765

Chamber Membership Number               : 8838

Issued Capital                                       : QR 200,000

Paid up Capital                                     : QR 200,000

Total Workforce                                                : 13

Activities                                               : Distributors of building materials

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Naseem Al Asmar, Sales Manager

 

 

 

COMPANY NAME

 

CASTLE FOR BUILDING MATERIALS CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Sayer Building No. B15

Street               : Barwa Commercial Avenue

 

PO Box                        : 15756

 

Town                : Doha

Country : Qatar

 

Telephone         : (974) 40053333

Facsimile          : (974) 40059902

Mobile              : (974) 55859348 / 55846998 / 55569009

Email                : info@castlemba.com / castle.mba@gmail.com

 

Please note that subject’s previous address was, Street No. 30, Gate No. 72, Industrial Area, Doha.

 

Premises

 

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

 

Branch Offices

 

     Location                                                                                           Description

 

·       Industrial Area, Gate No 42                                                                Warehouse premises

Street No. 22

Doha

Tel: (974) 44504959 / 44114597

Fax: (974) 44504957 / 44114598

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                 Position

 

·       Samir Ahmed Hassan                       Egyptian                                   Managing Director

 

·       Sadiq Faraj Abdullah                        Qatari                                       Director

 

·       Naseem Al Asmar                                  -                                          Sales Manager

 

·       Akram Al Attar                                       -                                          Accountant

 

·       Noreal Perez                              -                                          Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th August 2004

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.   : 287765

 

Chamber Member No.  : 8838

 

Issued Capital              : QR 200,000

 

Paid up Capital            : QR 200,000

 

Name of Shareholder (s)

 

·       Samir Ahmed Hassan                      

 

·       Sadiq Faraj Abdullah

 

 

AFFILIATED COMPANIES

 

·       Modern Accessories Factory

Doha

 

 

OPERATIONS

 

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

 

Subject's clients include some of largest construction contractors in Qatar like Bouygues Batiment                          International, CCIC, Sky Oryx, SEG, CDC Takenaka, Leighton Contracting Qatar, Midmac Contracting,           Ramco Qatar, Al Jaber and Partners, CAT International, Redco Group and Redco International.

 

Import Countries: India, China, Japan, the United States of America, Australia, Netherlands, Italy, Germany and

                 Saudi Arabia

 

Suppliers:

 

·         MAGO                                Australia

·         Powers Fasteners                Netherlands

·         Max Frank                           Germany

·         RSM GmbH                                    Germany

·         Jordahl GmbH                     Germany

·         Imprtek                               Italy

·         Amico                                 United States of America

·         Arnon                                 Saudi Arabia

·         Maruti Industries                  India

 

Operating Trend: Steady

 

Subject has a workforce of 13 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 4,800,000                            QR 5,100,000

 

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

 

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

 

 

BANKERS

 

·       Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44490222

Fax: (974) 44438182

 

 

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.

 

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

INR 63.50

UK Pound

1

INR 90.92

Euro

1

INR 79.07

QAR

1

INR 17.48

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

TRU

 

 

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.