MIRA
INFORM REPORT
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Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
INTERSUN HOLDING FZE |
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Registered Office : |
Sheikh
Zayed Road, Roundabout No. 8, Jebel Ali Free Zone, P O Box 61051 & 16856,
Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
2001 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Subject
acts as a holding company offering management, administrative and financial services for the subsidiaries. |
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$
150,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : INTERSUN HOLDING FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2001
Trade Licence Number : 02828
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 20
Line of Business : Holding company
Financial Condition : Unknown
Payments : Nothing detrimental uncovered
COMPANY NAME
INTERSUN HOLDING FZE
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road, Roundabout
No. 8
Area : Jebel Ali Free Zone
PO Box : 61051 & 16856
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8814159
Facsimile : (971-4) 8817455
Premises
Subject
operates from a small suite of offices that are rented and located in the Jebel
Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
· Abdolbari Hassan Goozal Iranian Managing Director
· Hassan Goozal Iranian Director
LEGAL FORM &
OWNERS
Date of Establishment : 2001
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 02828
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
· Abdolbari Hassan Goozal
· Hassan Goozal
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
· Intersun International Sun Group
FZCO
Roundabout No. 10, Old Western Oil Building,
1st Floor
Sheikh Zayed Road
Jebel Ali Free Zone
PO Box : 61051
Dubai
Tel : (971-4) 8833950
Fax : (971-4) 8817455
· Wellington Foodstuff
Dubai
Tel : (971-4) 8814159
· Middle East Petroleum
Dubai
Tel : (971-4) 8833990
LINE OF BUSINESS
Operations: Subject acts as a holding
company offering management, administrative and financial
services for the above subsidiaries.
Subject
has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Dubai, 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.
BANKERS
·
Emirates
Bank International Ltd
Al Nasr Square
PO Box : 2923
Dubai
Tel : (971-4) 2281181
Acc No. 0073007186010
·
Commercial
Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Established
in 2001, subject operates as a holding company and is owned and managed by Mr
Abdolbari Hassan Goozal and Mr Hassan Goozal, who are Iranian nationals.
Local
sources report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk. As such the above credit figure is
considered to be within subject’s financial means.
Maximum
suggested credit figure: US$ 150,000
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 |
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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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