MIRA INFORM REPORT

 

 

Report Date :

22.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ALPHA DATA PROCESSING SERVICES CO LLC

 

 

Registered Office :

Rashid Bin Hamooda Building, Airport Road, P O Box 45384, Abu Dhabi

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

05.01.1981

 

 

Com. Reg. No.:

13649, Abu Dhabi

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Providers of information services

 

 

No. of Employees :

800 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

Payment Behaviour :

Regular

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

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

United Arab Emirates 

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

United Arab Emirates - 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 Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

 

SUMMARY

 

Company Name                         :ALPHA DATA PROCESSING SERVICES CO LLC
Also Known As                                      : ALPHA DATA LLC

Country of Origin                                    : Abu Dhabi, United Arab Emirates

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 5th January 1981

Commercial Registration Number            : 13649, Abu Dhabi

Trade Licence Number                            : 1019710

Chamber Membership Number                : 7302

Issued Capital                                        : UAE Dh 3,000,000

Paid up Capital                                      : UAE Dh 3,000,000

Total Workforce                                     : 800

Activities                                               : Providers of information services.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Kuram Shahzad, Chief Financial Officer

 

 

 

COMPANY NAME

 

ALPHA DATA PROCESSING SERVICES CO LLC

 

 

ALSO KNOWN AS

 

ALPHA DATA LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Rashid Bin Hamooda Building

Street               : Airport Road

PO Box             : 45384

Town                 : Abu Dhabi

Country             : United Arab Emirates

Telephone         : (971-2) 6333644

Facsimile          : (971-2) 6211924 / 6392192

Email                : rajeev@alpha.co.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

 

·       Khalid Bin Walid Street                                                                                  Office premises

PO Box: 8829

Dubai

Tel: (971-4) 3933800

Fax: (971-4) 3933415

 

·       Mina Free Zone                                                                                             Service centre

Abu Dhabi

Tel: (971-2) 6731873

Fax: (971-2) 6732259

 

·       Jebel Ali Free Zone                                                                                        Office premises

PO Box: 17875

Dubai

     Tel: (971-4) 8819805

     Fax: (971-4) 8871095

    

·       Al Awir Warehouse                                                                                        Warehouse premises

Dubai

Tel: (971-4) 3335811

Fax: (971-4) 3335844

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                               Position

·       Fayez Ibbini                                                  Jordanian                                  Managing Director

·       Faraj Ali Bin Hamoodah                                   Emirati                                    Director

·       Ashraf Mohamed                                                  -                                        Operations Manager

·       Kuram Shahzad                                                   -                                        Chief Financial Officer

·       Haytham Al Momeni                                             -                                        Administration Manager

·       Walid Saffarini                                                      -                                        Network Manager

·       Nicolas Hana                                                       -                                        Human Resources Manager

·       Julie Ibbini                                                           -                                        Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 5th January 1981

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 13649, Abu Dhabi

 

Trade Licence No.       : 1019710

 

Chamber Mem. No.      : 7302

 

Issued Capital              : UAE Dh 3,000,000

 

Paid up Capital            : UAE Dh 3,000,000

 

Name of Shareholder (s)                                             Percentage

·       Faraj Ali Bin Hamoodah                                                  51%

·       Fayez Ibbini                                                                   49%

 

 

AFFILIATED COMPANIES

 

·       Bin Hamoodah Trading & General Services Co (Bin Hamoodah Automotive)

Rashid Bin Hamooda Building

     Airport Road

     PO Box: 203

     Abu Dhabi

     Tel: (971-2) 4448888

     Fax: (971-2) 4449073

 

·       Gulf Automation Services & Oil Field Supplies (GASCO)

Khalifa Bin Zayed Street

PO Box: 203

Abu Dhabi

Tel: (971-2) 6276600

Fax: (971-2) 6276150

 

·       National Food Products Company

Umm Al Naar Street

PO Box: 2403

Abu Dhabi

Tel: (971-2) 8834464

Fax: (971-2) 5582214

 

·       Tareef Trading Co

PO Box: 203

Abu Dhabi

Tel: (971-2) 5554405

Fax: (971-2) 5554402

 

·       Al Geemi & Partners Contracting Company

Baniyas Street

PO Box: 2877

Abu Dhabi

Tel: (971-2) 6328438

Fax: (971-2) 6338135

 

 

OPERATIONS

 

Activities: Engaged in the provision of information services, including computer solutions, enterprise networking,

telecommunications services, audio-visual equipment, imaging solutions, software development and home computers and related peripherals as well as voice, video, data centres, storage and security solutions.

 

Alpha Data has won the Systems Integrator of the Year Award at two of the region’s leading technology awards - CPI’s Reseller Middle East Partner Excellence Awards and ITP’s Network Middle East Innovation Awards held on 30th May and 1st June 2010, respectively.

 

Strategic Partners: HP, Microsoft, Cisco, Avaya, Belden, Juniper Networks, Extreme Networks, Polycom, Samsung, Bosch, Autodesk and ASC

 

Import Countries: Europe, the Far East and the United States of America.

 

Brand Names: : IBM, COMPAQ, LEO, PHILIPS, MICROSOFT, NORTEL, HEWLETT PACKARD, LEXMARK,

SIEMENS, POLYCOM and LIESEGANG.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 800 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                UAE Dh 776,000,000                  UAE Dh 779,500,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Kuram Shahzad, Chief Financial Officer

 

 

BANKERS

 

·       Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank Building

Al Salam Street

PO Box: 939

Abu Dhabi

Tel: (971-2) 6962222 / 6962222

Fax: (971-2) 6776499 / 6776499

 

·       National Bank of Abu Dhabi

Sheikh Khalifa Street

PO Box: 4

Abu Dhabi

Tel: (971-2) 6345777 / 6327113 / 6335262

Fax: (971-2) 6336078

 

 

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.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.20

UK Pound

1

Rs.87.79

Euro

1

Rs.70.43

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.