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Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ATG LIMITED FZC |
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Registered Office : |
Hamriyah Free Zone |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.02.2005 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Providers of engineering, manufacturing and fabrication services. |
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No. of Employees : |
250 |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UAE - ECONOMIC OVERVIEW
The UAE has an open economy with
a high per capita income and a sizable annual trade surplus. Successful efforts
at economic diversification have reduced the portion of GDP based on oil and
gas output to 25%. Since the discovery of oil in the UAE more than 30 years
ago, the UAE has undergone a profound transformation from an impoverished
region of small desert principalities to a modern state with a high standard of
living. The government has increased spending on job creation and
infrastructure expansion and is opening up utilities to greater private sector
involvement. In April 2004, the UAE signed a Trade and Investment Framework
Agreement with
Source : CIA
Company Name : ATG LIMITED FZC
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 20th February 2005
Trade Licence Number : 1044
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 250
Activities : Providers of engineering, manufacturing and fabrication services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Qamr Ebad Ullaq, Financial Controller
ATG LIMITED FZC
Location : Hamriyah Free
Zone
PO Box : 42422
Town : Sharjah
Country :
Telephone : (971-6) 5260517
Facsimile : (971-6)
5260514
Email : sales@atglimited.ae
/ aabarlas@atglimited.ae
Subject operates from a suite of offices and a workshop, covering 14,000
square metres that are rented and located in the Hamriyah Free Zone Area of
Sharjah.
Name Nationality Position
· Mohamed Tariq
Barlas Pakistani Managing Director
· Amer Mohamed Tariq
Barlas Pakistani Director
· Yasser Mohamed
Tariq Barlas Pakistani Director
· Salman Sarvar - Finance
Manager
· Qamr Ebad Ullaq - Financial
Controller
Date of
Establishment : 20th
February 2005
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 1044 (Expires 19/02/2013)
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Mohamed Tariq
Barlas
· Amer Mohamed Tariq
Barlas
· Yasser Mohamed
Tariq Barlas
· Global Business
Solution
Activities: Engaged in the as a multi-disciplinary industrial facility providing engineering,
manufacturing, fabrication services to power, steel, oil and gas,
petrochemicals, marine and construction sectors.
Subject is ISO 9001:2008 accredited.
Operating Trend: Steady
Subject has a workforce of approximately 250 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE
Dh 9,825,000 UAE Dh
10,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Qamr Ebad Ullaq, Financial
Controller
·
National Bank of Sharjah
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.59 |
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1 |
Rs.87.31 |
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Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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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.