MIRA INFORM REPORT

 

 

 

 

Report No. :

343752

Report Date :

01.10.2015

 

IDENTIFICATION DETAILS

 

Name :

INVEST INC TRADING LLC

 

 

Registered Office :

Warehouse No 3, Block 364-650, Al Quoz Industrial Area No. 1, P O Box13348, Dubai

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

17.01.2007

 

 

Com. Reg. No.:

114647, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

importer and distributor of general foodstuffs, chemicals and industrial machinery.

 

 

No. of Employees

12

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 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. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis of 2008, 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 and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi-emirate government that was refinanced in March 2014. 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 economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

 

SUMMARY

 

Company Name                                    : INVEST INC TRADING LLC

Country of Origin                                   : Dubai, United Arab Emirates            

Legal Form                                           : Limited Liability Company – LLC

Registration Date                                  : 17th January 2007

Commercial Registration Number           : 114647, Dubai

Trade Licence Number                           : 590322

Issued Capital                                       : UAE Dh 300,000

Paid up Capital                                     : UAE Dh 300,000

Total Workforce                         : 12

Activities                                               : Distributors of general foodstuffs, chemicals and industrial machinery

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Jackie Miwan, Financial Controller

 

COMPANY NAME

 

INVEST INC TRADING LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location           : Warehouse No 3, Block 364-650

Area                 : Al Quoz Industrial Area No. 1

PO Box                        : 213348

Town                : Dubai

Country : United Arab Emirates

 

Telephone         : (971-4) 3383880

Facsimile          : (971-4) 3380855

 

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                Position

·       Paraz Patel                                       Indian                                       Managing Director

·       Nasser Ali Shaban Ali                       Emirati                                      Director

·       Jackie Miwan                                         -                                          Financial Controller

·       Sadiq Ali                                               -                                          Operations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 17th January 2007

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.   : 114647, Dubai

 

Trade Licence No.        : 590322

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                                      Percentage

·       Nasser Ali Shaban Ali                                                           51%

·       Paraz Patel                                                                           49%

 

 

AFFILIATED COMPANIES

 

·       Chequered Flag Car Rental LLC

Warehouse No 3, Block 364-650

Al Quoz Industrial Area No. 1

PO Box: 213348

Dubai

Tel: (971-4) 3383880

Fax: (971-4) 3380855

 

·       Excellence Luxury Car Rental LLC

Warehouse No 3, Block 364-650

Al Quoz Industrial Area No. 1

PO Box: 213348

Dubai

Tel: (971-4) 3383880

Fax: (971-4) 3380855

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuffs, chemicals and industrial machinery.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 12 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/12:               Year Ending 31/12/13:

 

Total Revenue                           UAE Dh 10,660,000                   UAE Dh 10,935,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Dubai

Baniyas Street

Deira

PO Box: 1709

Dubai

Tel: (971-4) 2227121 / 2253222

Fax: (971-4) 2220943 / 2254565

 

 

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.65.75

UK Pound

1

Rs.99.53

Euro

1

Rs.73.80

 

 

INFORMATION DETAILS

 

Report Prepared by :

ASH

 

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