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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

498115

Report Date :

19.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

NATIONAL PAINT FACTORIES CO WLL

 

 

Registered Office :

Street No. 41, Gate No. 29, New Industrial Area, PO Box-40544, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

13.01.1990

 

 

Com. Reg. No.:

12533

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Subject Engaged in the production and marketing of decorative, industrial and marine paints

 

 

No. of Employees :

120

 

 

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 :

Good

 

 

Payment Behaviour :

Regular

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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 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.

 

Source : CIA

 

SUMMARY

 

Company Name                                    : NATIONAL PAINT FACTORIES CO WLL

Country of Origin                                   : Qatar

Legal Form                                           : With Limited Liability - WLL

Registration Date                                  : 13th January 1990

Commercial Registration Number           : 12533

Chamber Membership Number               : 385/0

Issued Capital                                       : QR 3,500,000

Paid up Capital                                     : QR 3,500,000

Total Workforce                                                : 120

Activities                                               : Production and marketing of decorative, industrial and marine paints

Financial Condition                                : Fair

Payments                                             : Regular

Operating Trend                                    : Steady

 

 

 

COMPANY NAME

 

NATIONAL PAINT FACTORIES CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Street No. 41, Gate No. 29

Area                 : New Industrial Area

 

PO Box                        : 40544

 

Town                : Doha

Country : Qatar

 

Telephone         : (974) 44601602 / 44601603

Facsimile          : (974) 44600368 / 44602721

Email                : npf@qatar.net.qa

 

Premises

 

Subject operates from a medium sized suite of offices, a warehouse and a factory that are owned and located in the Industrial Area of Doha.

 

 

KEY PRINCIPALS

 

 

            Name                                        Nationality                     Position

 

Saleh Ahmed Al Khulaifi                                      Qatari                         Managing Director

 

Michael Fayeq Al Sayegh                      Jordanian                      Director

 

Thamer Salim Fayeq Al Sayegh              Jordanian                      Director

 

Sami Salim Fayeq Al Sayegh                 Jordanian                      Director

 

Nuha Salim Fayeq Al Sayegh                 Jordanian                      Director

 

John Ibrahim                                                -                            Commercial Manager

 

Ayman Ismail                                               -                            Finance Manager

 

Ayad Sulaiman                                             -                            Assistant Finance Manager

 

Al Sir Abbass                                               -                            Accountant

 

Janet Salvador                                             -                            Purchasing Manager

 

Ayman Hawari                                              -                            Human Resources Manager

 

Mohamed Bakro                                           -                            Quality Control Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 13th January 1990

 

Legal Form      : With Limited Liability - WLL

 

Commercial Reg. No.   : 12533

 

Chamber Member No.  : 385/0

 

Issued Capital              : QR 3,500,000

 

Paid up Capital            : QR 3,500,000

 

Name of Shareholder (s)

 

Saleh Ahmed Al Khulaifi

 

Michael Fayeq Al Sayegh

 

Thamer Salim Fayeq Al Sayegh

 

Sami Salim Fayeq Al Sayegh    

 

Nuha Salim Fayeq Al Sayegh

 

 

AFFILIATED COMPANIES

 

Fibre Glass Factory

New Industrial Area

PO Box: 40544

Doha

Qatar

Tel: (974) 44603629

 

National Paints Factory Co Ltd

PO Box: 5822

Sharjah

United Arab Emirates

Tel: (971-6) 5340111

Fax: (971-6) 5340222

Email: npfcl@national-paints.com

 

National Paints Factory Co Ltd

Abu Alanda

PO Box: 533

Amman

Jordan

Tel: (962-6) 4162481

Fax: (962-6) 4162483

 

 

OPERATIONS

 

Activities: Engaged in the production and marketing of decorative, industrial and marine paints.

 

Import Countries: United Arab Emirates, Germany and the United Kingdom

 

International Suppliers:

 

Emic                 United Arab Emirates

Cristal               Germany

High Tech         United Kingdom

 

Brand Names: NATIONAL, MAX and DOHA

 

Operating Trend: Steady

 

Subject has a workforce of 120 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 109,500,000             QR 114,000,000

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)

PO Box: 3232

Doha

Tel: (974) 44490222

Fax: (974) 44438182

 

Doha Bank Ltd

Al Jasrah Street

PO Box: 3818

Doha

Tel: (974) 44435444

Fax: (974) 44416631 / 44410625

 

 

PAYMENT HISTORY

 

Regular

 

 

GENERAL COMMENTS

 

Incorporated in 1990, National Paint Factories Co WLL is well established in the local paints market. The company deals with a number of well known international organisations and enjoys a good reputation for the quality of its products.

 

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 64.87

UK Pound

1

INR 90.49

Euro

1

INR 79.91

QAR

1

INR 17.92

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

KET

                                                


 

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.