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MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADVANCED TARGET SYSTEMS LLC (ADCOM) |
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Registered Office : |
Mussafah Industrial Area, Zone M41, Plot 193, PO Box 25298,
Abu Dhabi |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29.09.2001 |
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Com. Reg. No.: |
48554, Abu Dhabi |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture and Assembly of
Remote Control Systems and Military Targeting 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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ADVANCED TARGET SYSTEMS LLC (ADCOM)
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th September 2001
Commercial Registration Number : 48554, Abu Dhabi
Trade Licence Number : 71369
Chamber Membership Number : 90701
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 16
Activities :
Manufacture and assembly of remote control systems
and military targeting equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
ADVANCED TARGET SYSTEMS LLC (ADCOM)
ADDRESS
Registered & Physical Address
Location : Mussafah
Industrial Area, Zone M41, Plot 193
PO Box : 25298
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 5500630
/ 5500171
Facsimile : (971-2)
5500631
Email : adcomgrp@emirates.net.ae
Premises
Subject operates from a small suite of offices and a workshop that are
rented and located in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Nationality Position
· Ali
Mohamed Ali Al Daheri Emirati Managing
Director
· Sultan
Mohamed Ali Al Daheri Emirati Director
· Hashimi
Mediouni - General
Manager
· Nasser
Khamis - Public
Relations Manager
· M.
Glem - Financial
Controller
LEGAL FORM & OWNERS
Date of
Establishment : 29th
September 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 48554, Abu Dhabi
Trade Licence No. : 71369 (Expires
04/04/2008)
Chamber Member No. : 90701
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Ali
Mohamed Ali Al Daheri
· Sultan
Mohamed Ali Al Daheri
OPERATIONS
Activities: Engaged in the manufacture and assembly of
remote control systems and military targeting equipment.
Import Countries: United States of America, France, United Kingdom
and China.
Operating Trend: Steady
Subject has a workforce of 16 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 27,000,000 UAE Dh
29,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Abu Dhabi Commercial Bank
Mussafah
PO Box : 9331
Abu Dhabi
Tel : (971-2) 5544272
Fax : (971-2) 5544273
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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%)