|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Abu Dhabi Farmers Service Center, Ground Floor, Delma Street, P O Box 62532, Abu Dhabi |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.08.2010 |
|
|
|
|
Legal Form : |
Government Corporation |
|
|
|
|
Line of Business : |
Providers of services to farmers |
|
|
|
|
No. of Employees : |
200 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : ABU DHABI FARMERS SERVICES CENTER
Country of Origin :
Legal Form : Government Corporation
Registration Date : 2nd August 2010
Trade Licence Number : 118808
Chamber Membership Number : 559861
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
Total Workforce : 200
Activities : Providers of services to farmers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Registered &
Physical Address
Building :
Street :
PO Box : 62532
Town :
Country :
Telephone : (971-2) 8138888
Facsimile : (971-2) 8138480
Email : info@adfsc.ae
Premises
Subject operates
from a large suite of offices that are owned and located in the Central Business
Area of Abu Dhabi.
Branch Office
(s)
Location Description
·
Agricultural
Affairs Department Building Office
premises
Mezaira’a
·
Jimi
Area Office
premises
Al Ain
Name Position
·
Rashed
Khalfan Al Shariqi Chairman
·
Christopher
Hirst Chief
Executive Officer
Date of Establishment : 2nd
August 2010
Legal Form :
Government Corporation
Trade Licence No. : 118808
(Expires 02/04/2013)
Chamber Mem. No. : 559861
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
Name of Shareholder
(s) Percentage
·
Government
of Abu Dhabi 100%
Activities: Subject works with local farmers to improve
farming practices, resulting in higher production levels and
better quality crops while
conserving the country’s environmental resources.
Services to
Farmers include:
Enhanced on-farm
livestock management, improvements to date palm care, nutrition and harvesting,
improved irrigation systems and scheduling, Advice to improve crop production,
Access to best-practice demonstration farms, Distribution of research findings
and improved agricultural techniques, Assistance in improving farm planning,
technology and management.
Subject also operates a network of convenience stores throughout the Abu Dhabi Emirate supplying fresh, local fruit and vegetables and small grocery items to customers and a network of stores selling a wide range of agricultural products (such as fertilizer, animal feed, irrigation equipment) directly to farmers.
Subject has a workforce of approximately 200 employees.
Companies
registered in Abu Dhabi, 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.
·
National
Bank of Abu Dhabi
Sheikh Khalifa Street
PO Box: 4
Abu Dhabi
Tel: (971-2) 6345777 / 6327113 / 6335262
Fax: (971-2) 6336078
No complaints
regarding subject’s payments have been reported.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.92 |
|
UK Pound |
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.