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MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADVANCED TECHNICAL SERVICES CO WLL (ATS) |
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Registered Office : |
Thani Bin Abdulla
Building, No. 3, PO Box 55284, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
01.07.2007 |
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Com. Reg. No.: |
33294, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesale and Retail of Office Materials and Machinery. Leasing and Hire of Construction Equipment as well as
Manpower Supplies. |
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$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ADVANCED TECHNICAL SERVICES CO WLL (ATS)
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st July 2007
Commercial Registration Number : 33294, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 35
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
Person Interviewed : M.R. Shetty, Managing Director
COMPANY NAME
ADVANCED TECHNICAL
SERVICES CO WLL (ATS)
ADDRESS
Registered & Physical Address
Location : Thani Bin Abdulla Building, No. 3
PO Box : 55284
Town : Doha
Country : Qatar
Telephone : (974) 4622283 / 4621905
Facsimile : (974) 4622783
Email : info@atsqatar.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
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M.R.
Shetty Indian Managing Director
·
Sheikh
Salman Bin Ahmed Al Thani Qatari Director
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Chander
Shaker Shetty - Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
July 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 33294, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
·
M.R.
Shetty
·
Sheikh
Salman Bin Ahmed Al Thani
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Trading Division
Engaged in the
wholesale and retail of office materials and machinery.
· Contracting Division
Engaged in the
leasing and hire of construction equipment as well as manpower supplies.
Import
Countries: Europe and Asia
Subject has a
workforce of 35 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Mashreq Bank
PO Box : 173
Doha
Tel : (974) 413213 / 414932
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Doha 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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.52 |
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UK Pound |
1 |
Rs.75.08 |
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Euro |
1 |
Rs.63.72 |
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. |
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%)