MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ADOS KLINGER
GASKET FACTORY |
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Registered Office : |
Lulu Centre, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
10th October 2000 |
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Com. Reg. No.: |
44746, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the manufacture
of metal and polymer anti-corrosive products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ADOS KLINGER GASKET FACTORY
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 10th October 2000
Commercial Registration Number :
44746,
Trade Licence Number : 66835
Membership Number : 84085
Invested Capital : UAE Dh 100,000
Total Workforce : 50
Line of Business : Manufacturers of metal and polymer anti-corrosive products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ADOS KLINGER GASKET
FACTORY
ADDRESS
Registered & Physical Address
Building : Lulu Centre
Street : Al Salam Street
PO Box : 4015
Town :
Country : United Arab Emirates
Telephone : (971-2) 6788800
Facsimile : (971-2) 6787628
Email : adosgf@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
Branch Office (s)
Location Description
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Mussafah Industrial Area, Plot M3 Factory
premises
Tel : (971-2) 5540525
KEY PRINCIPALS
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Mussalam
Maktoum Rashid Al Mazrouei Proprietor
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Zuhair
Shehada General
Manager
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Ibrahim
Hassani Assistant
General Manager
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Ibrahim
Afani Operations
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 10th
October 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 44746, Abu
Dhabi
Trade Licence No. : 66835
(Expires 25th September 2008)
Membership No. : 84085
Invested Capital
: UAE Dh 100,000
Mr Mussalam Maktoum Rashid Al Mazrouei is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
AFFILIATED COMPANIES
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Ados
Engineering Industries
PO Box : 4015
Tel
: (971-2) 6788800
Fax : (971-2) 6787628
LINE OF BUSINESS
Operations : Engaged in the manufacture of metal and
polymer anti-corrosive products.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh 12,800,000 UAE Dh 13,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Abu
Dhabi Commercial Bank
Corniche Street
PO Box : 2054
Abu Dhabi
Tel : (971-2) 6275500
Fax : (971-2) 6275400
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2000, subject is owned and managed by Mr Mussalam Maktoum Rashid Al Mazrouei who is well respected in
the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
Maximum suggested
credit figure: US$ 200,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)