MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AHMADIAH AKTOR LLC |
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Registered Office : |
Mohamed Habroosh
Al Suwaidi Building, Al Mina Street, Al Rifaa, PO Box 182456, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
16.03.2005 |
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Com. Reg. No.: |
72849, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Provision of steel construction and building contracting services
as well as civil engineering works |
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$ 750,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AHMADIAH AKTOR LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th March 2005
Commercial Registration Number : 72849, Dubai
Trade Licence Number : 567000
Chamber Membership Number : 95563
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 300
Activities : Provision of steel construction and building contracting services as well as civil engineering works
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 750,000
COMPANY NAME
AL AHMADIAH AKTOR
LLC
ADDRESS
Registered & Physical
Address
Building : Mohamed Habroosh Al Suwaidi
Building
Street : Al Mina Street
Area : Al Rifaa
PO Box : 182456
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3981999 / 2271581
Facsimile : (971-4) 3981607 / 2271574
Email : info@aktor.ae
Premises
Subject operates from
a large suite of offices that are rented and located in the Suburban Business
Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Sheikh Hasher
Bin Maktoum Bin Juma Al Maktoum Emirati Chairman
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Ioannis
Margiolos Greek Project Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th
March 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 72849, Dubai
Trade Licence No. : 567000
(Expires 15/03/2009)
Chamber Member No. : 95563
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder (s) Percentage
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Sheikh Hasher
Bin Maktoum Bin Juma Al Maktoum 51%
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Aktor
Technical Co Ltd 49%
Greece
AFFILIATED COMPANIES
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Al Fajer Est
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Al
Ahmadiah Contracting & Trading
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Al
Fajer Information Services
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Al
Fajer Travel
OPERATIONS
Activities:
Engaged in the provision of steel construction and building contracting services as well as civil engineering works.
In January 2007 subject was
awarded a contract to
build a 300,000 cubic metre per day wastewater treatment facility in Jebel Ali.
The construction period for completion of the Phase 1 works is three years.
However, to enable wastewater flows to be treated early, a reduced stream of
150,000 cubic metres per day is to be fast tracked and commissioned within two
years of the contract being awarded. The total contract is valued at Dhs 1.5
billion
Subject has a
workforce of approximately 300 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
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National Bank
of Dubai (NBD)
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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 and the above credit figure is within
subject’s financial means.
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%)