MIRA
INFORM REPORT
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Report Date : |
6th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
CUBIC DISTRIBUTION FZE |
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Registered Office : |
Jebel Ali Free Zone 30061, Dubai United Arab Emirates |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
18th April 2006 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Import and distribution of general merchandise. |
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$ 30,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
CUBIC DISTRIBUTION FZE |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Free Zone Establishment - FZE |
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Registration Date |
18th April 2006 |
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Trade Licence Number |
4622 |
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Membership Number |
106685 |
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Issued Capital |
UAE Dh 1,000,000 |
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Paid up Capital |
UAE Dh 1,000,000 |
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Total Workforce |
3 |
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Line of Business |
Import and distribution of general merchandise. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
CUBIC DISTRIBUTION FZE
ADDRESS
Registered & Physical Address
Location : Jebel Ali Free Zone
PO Box : 30061
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3551515
Facsimile : (971-4) 3529559
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
Gaurav Brahmwar Om Narian Indian Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 18th April 2006
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 4622 (Valid until 14/03/2007)
Membership No. : 106685
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
Gaurav Brahmwar Om Narian 100%
Note to the Legal Form
A Free Zone Establishment - or FZE - is an establishment formed and registered within the Free Zones and regulated solely by the Free Zone authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, i.e. minimum of 51 % equity in the capital.
AFFILIATED COMPANIES
Cubic Computers LLC
Saeed Habib Al Yousuf Building
Khalid Ibn Walid Street
Bur Dubai
PO Box 30061
Dubai
Tel: (971-4) 3550077 / 3555872
Fax: (971-4) 3552299 / 3598818
Email: info@cubiccomputers.com
Computer Components LLC
Abdur Rahman & Amin Ahmed Falkanaz Building
Al Rifaa Street
Al Souq Al Kabir
PO Box : 30061
Dubai
Tel : (971-4) 3934254
Fax : (971-4) 3934254
LINE OF BUSINESS
Operations: Engaged in the import and distribution of general merchandise, including computer and IT
equipment.
Subject has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information is not currently available.
BANKERS
Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Investigations undertaken in Dubai did not reveal any sign of payment defaults or delays during initial trading stages, and subject is believed to meet its payment obligations in a timely manner, nevertheless, and in view of the company’s infancy and the lack of a more consistent payment and financial record, a measure of caution is advisable and a close monitoring of subject’s business development is recommended.
Maximum suggested credit figure: US$ 30,000
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/normal. |
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 |