MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
RELIANCE INTERNATIONAL ZONA LIBRE S.A. |
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Registered Office : |
Av. José Dominador
Bazan, Edificio Cofrisa No.9, Local 4 y 4ª Manzana |
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Country : |
Panama |
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Date of Incorporation : |
1995 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in the
commercialization of textile, fabric for furniture, curtains and related
ones. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT
COMPANY NAME : RELIANCE INTERNATIONAL
ZONA LIBRE S.A.
TAXPAYER
REGISTRATION : RUC UNOBTAINABLE
OPERATING
STATUS : Active
MAIN
ADDRESS : Av. José Dominador Bazan, Edificio Cofrisa No.9, Local 4 y 4ª Manzana,
CITY/PROVINCE/STATE :
Panamá/Panamá
COUNTRY : PANAMA
TELEPHONE : (507)431.1400/431.1409
FAX : (507)431.1419
E
- MAIL : info@reliancezlsa.com
WEB
SITE : None
SUMMARY
Incorporation :
1995
Operating
Status : Active
Last
Capital : US$2,500,000.=
Dólares
Employees :
30
QUALIFICATION
RATING
: SECURED CREDIT IS ADVISED
PAYMENTS
: NO CREDIT EXPERIENCE AVAILABLE
LEGAL BACKGROUNDS
LEGAL
STATUS : Joint-Stock Company
DATE
OF INCORPORATION : 13FEB1995
REGISTERED
IN : Panama
NOTARY
OFFICE : 10th of the Circuit
DURATION : Perpetual
REGISTRATION :
Card 299009, Record 1596, Volume 236, Entry 5114
CURRENT
PAID-IN CAPITAL : US$2,500,000 Dollars
CURRENT
EXCHANGE RATE : B/.1.= per USD1
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL
NAMES / COMPANY NAME TITLE
RAVI SHANKAR,
NARAYAN President
SATYA NARAYAN, BEGUR Vice President
NARAYAN, ASHOK Assistant Secretary
SATYA RAMESH, BEGUR Treasurer
HERNANDEZ, SABINO Chief Financial Officer
WHO IS WHO ?
RAVI
SHANKAR, NARAYAN
NATIONALITY : Indian
SATYA
NARAYAN, BEGUR
NATIONALITY : Indian
NARAYAN,
ASHOK
NATIONALITY : Indian
SATYA
RAMESH, BEGUR
NATIONALITY : Indian
HERNANDEZ,
SABINO
NATIONALITY : Panamanian
RELATED COMPANY(IES)
COMPANY
NAME COUNTRY
RELATION
DIVINE S.A. PANAMA Related
BUSINESS
MAIN
ACTIVITY .-
Subject is engaged in the
commercialization of textile, fabric for furniture, curtains and related ones.
IMPORT :
Yes India and China
EXPORT :
Yes Central and South America
%
FOREIGN PURCHASES : 100%
SELLING
TERRITORY : Domestic and foreign markets
EMPLOYEES : 30
FACILITIES
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Premises :
Own
Use : Headquarters, commercial offices
Remarks and other
Premises .-
Calle 16, Edificio 40,
Local 2, Apartado 0302-00043, Zona Libre, Colón-Panamá.
COMMENTS
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Subject has affiliated companies
in India, Hong Kong and Taiwan.
FINANCIAL INFORMATION
We could contact Sabino
Hernández (Finance Manager) who provided general data. Regarding the financial statements, he said
he would confer with the Chairman of the Board to consider a possibility that
they might to provide financial accounts. He agreed to reply later but so far
he did not answer.
Other people contacted at
the Company were unwilling to cooperate since they had not been authorized.
It is worth mentioning
that in Panama you could only get financial information from public companies.
Contrarily, private companies provide said information voluntarily. For this reason, it was not possible to get
Subject operation level. We did not find either trade references describing its
credit record, so we recommend to make relevant provisions before to make a
credit decision.
INSURANCE
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There is not information
available on this matter.
PAYMENTS RECORD
TRADE
REFERENCES .-
Line of Credit Monthly Average
Terms(days)) Performance? Time
Products/Services Supplier
1 US$
10,000.= No specifed
CASH No experience 10 years
Maritime service Domestic
COMMENTS .-
Other firm inquired,
refused to give information.
Other two suppliers have
not responded to our trade reference request.
LIST
OF DOMESTIC SUPPLIERS .-
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier Telephone
APL de Panamá SA 430.2030
Maerk Sealand 433.8800
P & O Nedlloyd 430.1121
Unigreen Marine SA 430.9000
BANKING INFORMATION
BANKERS
Bank Telephone
MULTI CREDINT BANK
INC. 269.0188
Banks in Panama are ruled
by the Bank Secrecy Act. Hence, information regarding their clients cannot be
disclosed.
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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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%)