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MIRA INFORM REPORT
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Report No. : |
497033 |
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Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ALI BIN ALI ESTABLISHMENT |
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Registered Office : |
Ali Bin Ali Building (ABA Tower), 8th Floor, Airport Road, Umm
Ghuwalina Area, PO Box 75 & 822, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1945 |
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Com. Reg. No.: |
1899 |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject’s operations are performed through the following divisions · Ali Bin Ali Watches & Jewellery Division · Information & Communication Technology (ISPOT) · Akhbar Al Osbou Magazine · Ali Bin Ali Colour Laboratory · Ali Bin Ali Contracting · International Agencies · Ali Bin Ali Printing Press · Ali Bin Ali Travel Bureau · Gulf Travel Agency · White House Showroom · Ali Bin Ali Pepsi Cola · Kodak Centre · Le Louvre Showroom · Property Management & Contracting Division |
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No. of Employees : |
5,000 |
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 :
ALI BIN ALI ESTABLISHMENT
Also Known As :
ALI BIN ALI GROUP
Country of Origin :
Qatar
Legal Form :
General Partnership
Registration Date :
1945
Commercial Registration Number :
1899, Doha
Membership Number :
2745/3
Partners Capital :
QR 101,000,000
Total Workforce :
5,000
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Undetermined
Payments :
Regular
COMPANY
NAME
COMPANY NAME: ALI BIN ALI ESTABLISHMENT
ALSO KNOWN AS: ALI BIN ALI GROUP
ADDRESS
Registered & Physical Address
Building : Ali Bin Ali
Building (ABA Tower), 8th Floor
Street : Airport Road
Area : Umm
Ghuwalina Area
PO Box : 75
& 822
Town : Doha
Country : Qatar
Telephone : (974) 44413973
/ 44469888 / 44426201 / 44426205 / 44426788 / 44426789 / 44676220 / 44469826 /
44469766 / 44469777
Facsimile : (974) 44433778
/ 44430648 / 44372124 / 43582662 / 44434749
Email : alibinali@qatar.net.qa / finance@alibinali.com
/ ispot@alibinali.com
Premises
Subject operates from a large suite of offices and storage facilities
that are owned and located in the Central Business Area of Doha.
Branch Office (s)
Location Description
Toyota Roundabout Showroom
premises
PO Box: 1313
Doha
Tel: (974) 44423230
Al Saad Street Showroom
premises
PO Box: 2197
Doha
Tel: (974) 44441161
KEY
PRINCIPALS
Name Position
Adel Ali Bin Ali Managing
Partner
Nabeel Ali Bin Ali Partner
Mrs Fatima Ali Bin Ali Partner
Mrs Nour Ali Bin Ali Partner
Mrs Hind Ali Bin Ali Partner
Mrs Seham Ali Bin Ali Partner
Mrs Lila Ali Bin Ali Partner
P K Ghanesh Finance
Manager
Pier Nahed Commercial
Manager
Iftikhar Ahmed Chief
Financial Officer
Motaz Ahmed Administration
Manager
Abdulaziz Pati Financial
Controller
LEGAL
FORM & OWNERS
Date of Establishment : 1945
History : Subject was
originally established in 1945 as a Sole Proprietorship of Mr Ali Bin Ali.
Following the demise of Mr Ali Bin Ali, all his interests were passed on
to his legal heirs (two
sons, five daughters and a
wife).
The business was subsequently re-organised and re-registered as a
General Partnership.
Legal Form : General Partnership
Commercial Reg. No. : 1899, Doha
Membership No. : 2745/3
Partners Capital : QR 101,000,000
Name of Partner (s)
Adel Ali Bin Ali
Nabeel Ali Bin Ali
Mrs Fatima Ali Bin Ali
Mrs Nour Ali Bin Ali
Mrs Hind Ali Bin Ali
Mrs Seham Ali Bin Ali
Mrs Lila Ali Bin Ali
AFFILIATED
COMPANIES
Qatar Marketing Co WLL
Abdullah Bin Thani Street
PO Box: 1993
Doha
Tel: (974) 44423911
Fax: (974) 44411768
Al Danah Trading & Contracting Co WLL
Al Corniche Road
PO Box: 2044
Doha
Tel: (974) 44426201
Fax: (974) 44433778
Al Danah Medical Co WLL
Al Sadol Commercial Centre, Office No. 5, 3rd Floor
Al Sadol Street
PO Box: 2044
Doha
Tel: (974) 44322795 / 44324840
Fax: (974) 44356371
Ali Bin Ali & Partners
PO Box: 1993
Doha
Tel: (974) 44423911 / 44426201
Fax: (974) 44411768
NCR Corporation
Toyota Tower, 6th Floor
PO Box: 867
Doha
Tel: (974) 44351573 / 44351647 / 44413973
Fax: (974) 44351896 / 44432296
OPERATIONS
Activities: Subject’s operations are performed through the following divisions:
Ali Bin Ali Watches & Jewellery Division
Address : Al Saad Street
PO Box : 75
Doha
Tel : (974)
4429900
Fax : (974)
4326837 / 4469866
Email : watchesnjewelry@alibinali.com
Activities : This division
was established in 1955 and is engaged in the retail of watches, golden jewellery
and writing instruments. It is exclusive agents for Omega Watches.
Brands : RCM,
RCM, FRED JOAILLIER, STEFAN HAFNER, SOCIETE MIDDLE EAST, AUDEMARS PIGUET,
BLANCPAIN, BERTOLUCCI, CYMA, S.T. DUPONT, GMT GOLD COLLECTION, PIERRE BALMAIN, RAMA
SWISS WATCHES, VAN CLEEF & ARPELS
WENGER, CARAN D'ACHE, MONTEGRAPA, and WATERMAN.
Information & Communication Technology (ISPOT)
Subject acts as a premium re-seller of Apple
computers and related products.
Akhbar Al Osbou Magazine
Publishers and distributors of a weekly magazine covering entertainment,
sports and news.
Ali Bin Ali Colour Laboratory
Operators of a modern colour separation laboratory
Ali Bin Ali Contracting
General building contractors
International Agencies
General traders, commission agents and manufacturers representatives
dealing in a wide range of consumer products
Ali Bin Ali Printing Press
This division specialises in the printing and publishing of magazines,
newspapers, books and stationery.
Ali Bin Ali Travel Bureau
Travel agents and tour operators.
Gulf Travel Agency
Travel agents and general sales agents for UTA, Air France, Alitalia,
China Airlines, Airlanka and Sudan Airline.
White House Showroom
Retailers and distributors of various electrical equipment and accessories,
including air conditioning systems, refrigerators, microwaves, cookers and
dishwashers.
Ali Bin Ali Pepsi Cola
Bottlers and distributors under licence from Pepsi Cola.
Kodak Centre
Distributors and retailers of photographic equipment and supplies,
including films, cameras and various lenses.
Le Louvre Showroom
Distributors of furniture, window blinds and curtains, representing many
leading European brands, including Baccarat, Bernardaud, Christofle Company of
Silversmiths, Daum, Josiah Wedgewood & Sons, Saint Louis, Guy Degrenne,
Fani, Emil Herman, Sia, Kuhnsilber, Brandimarte, Schleissner, Mario Cioni Ains.
Property Management & Contracting Division
This division specialises in property management as well as building
construction and general contracting.
Import Countries: Europe, the Far East and the United States of
America
Subject has a workforce of approximately 5,000 employees.
FINANCIAL
DATA
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.
BANKERS
Qatar National Bank SAQ
PO Box: 1002
Doha
Tel: (974) 44413511 / 44407407
Fax: (974) 44415020
HSBC Bank Middle East
Abdulla Bin Jassim Street
PO Box: 57
Doha
Tel: (974) 44423124
Fax: (974) 44416353
Doha Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
Commercial Bank of Qatar Ltd (QSC)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 44438182
Standard Chartered Bank
PO Box: 29
Doha
Tel: (974) 44414252
Fax: (974) 44413739
PAYMENT
HISTORY
Regular
Date of transaction December
2011
Credit amount 100,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL
COMMENTS
Ali Bin Ali Est has a long operating history in Qatar with operations
commencing in 1945. It has since grown into one of the countries leading
businesses with diversified interests carried out through a number of
divisions.
The business is owned by members of the Ali Bin Ali family who are very
wealthy and respected businessmen with many years experience.
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 and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.02 |
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1 |
INR 90.12 |
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Euro |
1 |
INR 80.91 |
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QAR |
1 |
INR 17.78 |
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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PRA |
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Report Prepared
by : |
KET |
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
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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.