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Report Date : |
26.06.2014 |
IDENTIFICATION DETAILS
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Name : |
FOURTH DIMENSION SYSTEMS LLC |
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Registered Office : |
310B Metha Plaza Building, Oud Metha, Bur Dubai, PO Box : 8070, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
09.08.1993 |
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Com. Reg. No.: |
45361, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the provision of information technology
solutions and services, import and distribution of computer software and
equipment. |
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No. of Employees : |
40 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 country 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 $10 billion loan
from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
|
Source
: CIA |
Company Name :
FOURTH DIMENSION SYSTEMS LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
9th August 1993
Commercial Registration Number :
45361, Dubai
Trade Licence Number :
238765
Chamber Membership Number :
29335
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
40
Activities :
Providers of information technology solutions and services, distribution of
computer software and equipment.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 150,000
FOURTH DIMENSION
SYSTEMS LLC
Registered &
Physical Address
Building : 310B Metha
Plaza Building
Area : Oud Metha, Bur
Dubai
PO Box :
8070
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3024000
Facsimile : (971-4)
3024040
Mobile : (971-55)
478343 / (971-50) 7977228
Email : sheriff@fdsme.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
Abu Dhabi Office
premises
Riyadh Office
premises
Saudi Arabia
Amman Office
premises
Jordan
Name Nationality Position
Salah Ahmad Abdulla Tawalbeh Jordanian Managing
Director
Juma Saeed Khalaf Al Ghaith Emirati Director
Musabeh Mohd Ali Al Qaizi Emirati Director
Date of Establishment : 9th August 1993
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 45361, Dubai
Trade Licence No. : 238765 (Expires 08/08/2014)
Chamber Member No. : 29335
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Juma Saeed Khalaf Al Ghaith 40%
Musabeh Mohd Ali Al Qaizi 40%
Salah Ahmad Abdulla Tawalbeh 20%
Activities: Engaged in the provision of
information technology solutions and services, import and distribution of
computer software and equipment.
Import Countries: Europe
and the Far East
Brand Names: BMC SOFTWARE, ESET, LANDESK
SOFTWARE, MCAFEE, EMERGEO and INTERACTIVE INTELLIGENCE.
Subject has a workforce of 40 employees.
Companies registered in Dubai are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
Middle East Bank Ltd
Arbift Tower
Baniyas Street
PO Box: 5547
Dubai
Tel: (971-4) 2220121
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
150,000
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the company is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
|
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.82.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
NNA |
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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.