MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
KDU WORLDWIDE
TECHNICAL SERVICES FZC |
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Registered Office : |
Saif Zone, P O
Box 9567, Sharjah |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
15th February 2007 |
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Com. Reg. No.: |
03099 |
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Legal Form : |
Free Zone Company – FZC |
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Line of Business : |
Engaged in the
import and distribution of marine instruments, controls and related
accessories. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KDU WORLDWIDE TECHNICAL SERVICES FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 15th February 2007
Commercial Registration Number : 03099
Trade Licence Number : 04694
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 3
Line of Business : Distributors of marine instruments, controls and related accessories.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
KDU WORLDWIDE
TECHNICAL SERVICES FZC
ADDRESS
Registered & Physical Address
Location : Saif Zone
PO Box : 9567
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5574003
Facsimile : (971-6) 5574009
Email : kdutech@eim.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Saif Zone Area of Sharjah.
KEY PRINCIPALS
·
Rajesh
Christopher Gabrial Managing
Director
·
Veniy Krishna Director
LEGAL FORM & OWNERS
Date of Establishment : 15th
February 2007
Legal Form :
Free Zone Company - FZC
Commercial
Reg. No. : 03099
Trade Licence No. : 04694
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
·
Rajesh
Christopher Gabrial
·
Veniy Krishna
Note to the Legal Form
A Free Zone Company (FZC) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
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, ie minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
marine instruments, controls and related accessories.
Import Countries
: Europe and the Far East.
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
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State Bank of
India
Korte Herentalsestraat 3
2018 Antwerp 1
Belgium
Tel : (32-3) 2332355
Fax : (32-3) 2324370
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Sharjah 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$ 50,000
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. |
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%)