MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
FABTECH
TECHNOLOGIES FZC |
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Registered Office : |
Saif Zone,
Executive Suite W1-29, P O Box – 8814, Sharjah |
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Country : |
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Date of Incorporation : |
26.02.2007 |
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Com. Reg. No.: |
4716
(Valid until 25/02/2008) |
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Legal Form : |
Mouassasat Al Mintaka Al Horra (Free Zone Establishment -
FZE) |
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Line of Business : |
Engaged in the
import and distribution of sterilising tunnels, Isolators, doors and clean
room equipment. |
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$ 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
Company Name :
FABTECH TECHNOLOGIES FZC
Country of Origin :
Legal Form :
Free Zone Company - FZC
Registration Date :
26th February 2007
Trade Licence Number :
4716
Membership Number :
700888
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
4
Line of Business :
Import and distribution
of sterilising tunnels, Isolators, doors and
clean room equipment
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
FABTECH
TECHNOLOGIES FZC
ADDRESS
Registered & Physical Address
Location : Saif Zone, Executive Suite W1-29
PO Box : 8814
Town : Sharjah
Country :
Telephone : (971-6) 5572467 / 5572823
Facsimile : (971-6) 5572468
Email : airpac@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Saif Zone, Sharjah.
KEY PRINCIPALS
Name Nationality Position
Rami Adham Syrian Managing
Director
Amjad Adam
Arbani - General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 26th
February 2007
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 4716 (Valid until 25/02/2008)
Membership No. : 700888
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s)
Rami Adham
Fabtech Technologies
Note to the Legal Form
A Free Zone Establishment - or FZE - is an establishment formed and registered within the Free Zones and regulated solely by the Free Zone authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, i.e. minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations: Engaged in the
import and distribution of sterilising tunnels, Isolators, doors and clean
room equipment.
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
National Bank of
PO Box : 777
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken in Sharjah did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to meet
its payment obligations in a timely manner, nevertheless, and in view of the
company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
Maximum suggested credit figure: US$ 20,000
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%)