MIRA INFORM REPORT

Report No. :	506183
Report Date :	12.05.2018

IDENTIFICATION DETAILS

Name :	EXCEL METAL INDUSTRIES
Registered Office :	106 New Industrial Area, PO Box 80408 & 111, Doha
Country :	Qatar
Financials (as on) :	31.12.2017
Date of Incorporation :	27.03.2011
Com. Reg. No.:	49809
Legal Form :	With Limited Liability – WLL
Line of Business :	Subject is engaged in the manufacture of fire rated metal doors.
No. of Employees :	70

RATING & COMMENTS

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

Company name EXCEL METAL INDUSTRIES
IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name	:		EXCEL METAL INDUSTRIES
2) Registered Address:
Address	:		106 New Industrial Area
Town	:		Doha
Country	:		Qatar
PO Box	:		80408 & 111
Phone (s)	:		(974) 44321111
Mobile	:		(974) 55535654 / 70923062
Email			info@excelqatar.com
3) Operational Address & Contact Details:
Address	:		106 New Industrial Area
Town	:		Doha
Country	:		Qatar
PO Box	:		80408 & 111
Phone (s)	:		(974) 44321111
Mobile	:		(974) 55535654 / 70923062
Email			info@excelqatar.com
:
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category	:		With Limited Liability - WLL
Date of Registration	:		27th March 2011
Commercial Registration Number	:		49809
Notes to the legal Form:
Under the Qatari Commercial Companies Law a WLL may be formed by a minimum of 2 and a maximum of 50 natural or legal persons, whose liability is limited to their shares in the company’s capital. It can be established in almost all sectors of the economy (excluding banking, insurance and financial investment on behalf of others), has no minimum capital requirement, and is one of the easiest ways for a foreign shareholder to establish a legal presence in Qatar. However, there are foreign investment restrictions. Law No. (13) of 2000, Regulating Non-Qatari Capital Investment in Economic Activity (Foreign Investment Law) requires a Qatari citizen to hold at least 51% of the share capital of an WLL. Shareholders' profit shares do not have to be proportionate to the equity shareholding. It cannot issue shares to the public.
KEY FACTS
Operational Status	:		Steady
Financial Condition	:		Fair
Primary Business Activity	:		Manufacturers of fire rated metal doors
Number of Employees	:		70
Capital	:		QR 200,000
Note:
Engaged in the manufacture of fire rated metal doors.
CAPITAL DETAILS
Issued Capital:
No of Shares			No of Shares		Amount
N/A			N/A		QR 200,000
Paid Up Capital:
No of Shares			No of Shares		Amount
N/A			N/A		QR 200,000
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 16,000,000		QR 17,400,000
Local sources consider subject’s financial condition to be Fair.
Note:
According to Qatari Commercial Law, only Public Shareholding Companies (Listed on the Qatar Stock Market) are required to publish their financial information. Financial information on other legal forms can only be obtained from the companies / businesses directly
BANKERS
1	Name		Commercial Bank of Qatar Ltd (QSC)
	Address		Salwa Road
	PO Box		3232 Doha
	Tel		(974) 44490222
	Fax		(974) 44438182
SHAREHOLDERS
Sr.No	Name		Nationality
1	Salman Abdullah Abdul Ghani		Qatari
2	Adel Abdulrazzaq Abdullah Haider		Qatari
SENIOR MANAGEMENT
Sr.No	Name		Nationality		Designation
1	Salman Abdullah Abdul Ghani		Qatari		Managing Director
2	Adel Abdulrazzaq Abdullah Haider		Qatari		Director
3	Fadi Sassine		_		General Manager
4	Hafiz Mohamed		_		Accounts Manager
PREMISES
Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Doha
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults	:		No record found
Payment Defaults	:		No record found
Adverse Press Coverage	:		No record found
Litigations	:		No record found
Former Business Relationships	:		No record found
INVESTIGATOR'S COMMENTS
During the course of this investigation the following sources were consulted: - Internal database - Journals, directories, media & web searches - Local Registry office 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 company is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.87
Euro	1	INR 80.09
QAR	1	INR 18.51

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)

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