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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499546

Report Date :

26.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ANSAR GALLERY WLL

 

 

Registered Office :

Building No. 62, Street No. 830, Al Mansourah Area, Al Meera, PO Box 3726, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

04.04.2011

 

 

Com. Reg. No.:

51999

 

 

Legal Form :

With Limited Liability – WLL

 

 

Line of Business :

Subject is engaged in the wholesale and retail of ladies perfumes, cosmetics and beauty products, readymade garments, electronic products, bags, sporting equipment, household linens, crockery and tableware.

 

 

No. of Employees :

1,000

 

 

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

(30.09.2017)

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                                    : ANSAR GALLERY WLL

Country of Origin                                   : Qatar

Legal Form                                           : With Limited Liability – WLL

Registration Date                                  : 4th April 2011

Commercial Registration Number           : 51999

Membership Number                             : 25854

Issued Capital                                       : QR 3,000,000

Paid up Capital                                     : QR 3,000,000

Total Workforce                                                : 1,000

Activities                                               : Wholesalers and retailers of ladies perfumes, cosmetics and beauty

                                                              products, readymade garments, electronic products, bags, sporting

                                                              equipment, household linens, crockery and tableware

Financial Condition                                : Fair

Payments                                             : No Complaints

Person Interviewed                                : Muneera Abdullah, Assistant Finance Manager

 

 

 

COMPANY NAME

 

ANSAR GALLERY WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Building No. 62

Street               : Street No. 830

Area                 : Al Mansourah Area, Al Meera

PO Box                        : 3726

Town                : Doha

Country : Qatar

Telephone         : (974) 44432712 / 44761904

Facsimile          : (974) 44427670

Mobile              : (974) 70941897

Email                : dohacity@qatar.net.qa / tins@ag-qa.com / munira@newworldqatar.com

 

Premises

 

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

 

Branch Offices

 

Location                                                                                               Description

 

Abu Hamour Area                                                                                  Office premises

Doha

Tel: (974) 44486000

Fax: (974) 40174985

 

Salwa Road                                                                                          Office premises

Al Rayyan Area

Doha

 

Airport Road                                                                                         Office premises

Al Khoor Area

Doha

 

 

KEY PRINCIPALS

 

Name                                                   Nationality                                Position

 

Ali Akbar Sheikh                                    Iranian                                       Managing Director

 

Hussain Ibrahim Sadat                           Iranian                                       Director

 

Zinal Mohamed Zehandi                         Iranian                                       Director

 

Saleh Ahmed Saleh Al Qais                   Qatari                                       Director

 

Fahd Atwi                                                  -                                          General Manager

 

Hashem Khan                                             -                                          Purchasing Manager

 

Tins Augstine                                             -                                          Accounting Manager

 

Muneera Abdullah                                       -                                          Assistant Finance Manager

 

Mohamed Khaloud                                     -                                          Deputy General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 4th April 2011

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.   : 51999

 

Membership No.           : 25854

 

Issued Capital              : QR 3,000,000

 

Paid up Capital            : QR 3,000,000

 

Name of Shareholder (s)

 

Ali Akbar Sheikh

 

Hussain Ibrahim Sadat

 

Zinal Mohamed Zehandi

 

Saleh Ahmed Saleh Al Qais

 

AFFILIATED COMPANIES

 

Ansar Mall

Al Wahada Street

PO Box: 38880 & 40010

Sharjah

United Arab Emirates

Tel: (971-6) 5313339 / 5616484

Fax: (971-6) 5318886

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of ladies perfumes, cosmetics and beauty products, readymade garments, electronic products, bags, sporting equipment, household linens, crockery and tableware.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of approximately 1,000 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Qatari Riyals (QR)

 

                                                            Year Ending 31/12/16:

 

Total Sales                                            QR 55,000,000

 

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

 

The above figures were provided by Mrs Muneera Abdullah, Assistant Finance Manager

 

 

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

 

Please note that the correct name of the subject is “Ansar Gallery WLL” and not “Ansar Mall”.

 

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 65.13

UK Pound

1

INR 91.95

Euro

1

INR 80.34

QAR

1

INR 17.80

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

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.