It's business as usual for Mallya's UAE firms

Dubai - Regardless of a deluge of media reports about their embattled chairman, some 60 employees working in UB Emirates main office in Dubai and branches in Abu Dhabi and Ajman continued with their routine work on Thursday without showing any sign of concern.

Employees of UB Emirates LLC, the UAE-based subsidiary of fugitive Indian liquor baron Vijay Mallya, who dramatically fled India leaving behind unpaid loans of more than Rs90 billion, said "it's business as usual" for them, though they are equally in the dark about the fate and whereabouts of their boss.
Regardless of a deluge of media reports about their embattled chairman, some 60 employees working in UB Emirates main office in Dubai and branches in Abu Dhabi and Ajman continued with their routine work on Thursday without showing any sign of concern.
Speaking on condition of anonymity, members of the staff said their boss had been keeping a low profile during his rare visits to the UAE since 2012 following the collapse of Kingfisher Airlines. Unlike in the past, when the flamboyant billionaire used to flaunt his wealth by throwing lavish parties for film stars and politicians at his Palm Jumeirah Villa or on board his luxury yacht The Indian Princess which used to be berthed on Dubai Creek way back in the 1990s, Mallya has been shunning the limelight.
The self-styled India's King of Good Times, who owned a Formula One team, also used to make his presence felt at most Formula One racing events in the Gulf.
"As far as we know, he is not in town. He does not hold any assets in his name. Even his residence visa has not been renewed for the past one year. His Palm Jumeirah Villa was transferred to the company ownership and is now used as a guest house to entertain occasional business and personal guests," they said.
The UB Group started operations in Dubai in 1989 with an office in Jebel Ali Freezone but later following a dispute with a local partner downsized its operations. In 1997, the group launched a business centre in Dubai to cater to the needs of business travellers.
Other establishments UB Emirates own in the UAE that are either operational or defunct include UB Gulf Fze, Hamriya Free Zone, Sharjah; Fenshawe Group Holdings Middle East Ltd, RAK; Barrel Oil Field Equipment Trading; Montrose International S.A., Fujairah, and Asian Opportunities and Investments Ltd.
The UB Emirates, a general trading company, set up in 1993, mainly deals in electrical and building material products. From 2010, the company has moved to centralised warehousing by building its own facility in Ajman. With its corporate office based in Dubai's Al Nahda area, the company also exports its products to other GCC, Middle East and African markets.
issacjohn@khaleejtimes.com

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