MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HIGH FASHION INC. |
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Registered Office : |
Calle 16, Edificio
Bartley Holding, Local 4, diagonal a la Reebok, Zona Libre de Colón |
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Country : |
Panama |
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Date of Incorporation : |
18.05.2005 |
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Legal Form : |
Corporation |
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Line of Business : |
Import and reexport of tennis shoes, items of
clothing |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT
COMPANY NAME : HIGH FASHION INC.
TAXPAYER
REGISTRATION : RUC
7808801488067
OPERATING
STATUS : Active
MAIN
ADDRESS : Calle 16, Edificio Bartley Holding, Local 4,
diagonal a la
Reebok, Zona
Libre de Colón
CITY/PROVINCE/STATE :
Colón
COUNTRY : PANAMA
TELEPHONE : (507)447.2055/447.1537
FAX :
(507)447.2706
E
- MAIL : novatronzl@peikard.com
SUMMARY
Incorporation :
2005
Operating
Status : Active
Finantial
Situation : UNDETERMINED
Employees :
20
Payments : Usually to terms/good
Business
Trend : Undetermined
QUALIFICATION
PAYMENTS
:
Usually to terms/good
LEGAL BACKGROUNDS
LEGAL
STATUS : Corporation
DATE
OF INCORPORATION : 18MAY2005
REGISTERED
IN : Colón
DURATION : Indefinite
REGISTRATION :
Card 488067, Not.Instrument 2769
INITIAL
CAPITAL : US$10,000.= Dollars
LISTED
AT STOCK EXCHANGE : No
CURRENT
EXCHANGE RATE : B/.1.00 per 1.00 US
Dollar
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL
NAMES / COMPANY NAME TITLE OWNERSHIP
%
ABADI, NESSIM President Yes
MENDEZ SALAZAR,
ROBERTO General Director Yes
BARDAYAN, ABRAHAM Director/Treasurer Yes
WHO IS WHO ?
MENDEZ
SALAZAR, ROBERTO
NATIONALITY :
Panamanian
BORN :
1969
BACKGROUNDS .-
He is reported to
participate with the following firms:
PEIKARD ZONA LIBRE S.A.
NOVATRON ZONA LIBRE S.A.
RUC: 16996-58-160442 (President and Shareholder), sharesownership of company
with brother and sister Luz Graciela and Juan Méndez Salazar. Company
established on 20.11.1985. Importers and wholesalers of electrical home
appliances. Headquarters are located at Calle 50, Edificio Tower Plaza, piso 2,
Panamá,
Tel:2633390
RELATED COMPANY(IES)
COMPANY
NAME COUNTRY TAX.REG. RELATION
NOVATRON ZONA LIBRE
S.A. PANAMA 16996-58-160442 Related
PEIKARD ZONA LIBRE
S.A. PANAMA 261-162-58519 Related
BUSINESS
MAIN
ACTIVITY .-
Import and reexport of
tennis shoes, items of clothing (Casual wears and underwears) for ladies and
gentlemen (Do not have predilection for particular brands).
IMPORT :
Yes From China and Taiwan, via bank transfers.
EXPORT :
Yes
%
FOREIGN SALES(COUNTRIES) : 90%
%
FOREIGN PURCHASES : 100%
SELLING
TERRITORY : 10% in Panama
EMPLOYEES : 20
FACILITIES
Premises : Rented
Condition : Good condition.
Use : Legal address and
administrative offices.
Remarks and other
Premises .-
WAREHOUSE: Calle 5, Local
No.02, Zona Libre, Tel:4305067; Fax:4305068. It consists of rented premises
shared with the firm NOVATRON ZONA LIBRE S.A.
COMMENTS
Major clients of this
enterprise are trading companies.
FINANCIAL INFORMATION
Be advised report was
produced with information gathered through our investigations in
different external
sources, because Mr.Roberto Méndez Salazar (General Manager) flatly
refused to provide us any
kind of information if the identity of the requestor was not
disclosed by us first.
FINANCIAL SITUATION :
UNDETERMINED
The company's financial
situation is considered to be indeterminate because of lack of
financial data to examine
its results.
HIGH FASHION INC. is a
relatively new company working in a hotly contested sector of
the market.
INSURANCE
Company Against
INTERNACIONAL All risk
Company's policy covers
goods in transit.
PAYMENTS RECORD
TRADE
REFERENCES .-
Line of Credit _ Monthly Average_ Terms(days)) Performance? _ Time _ Products/Services
Supplier
1 US$ 2,000.= US$ 1/1,500.= Cheque 30 da Prompt 01.2006 Courier
service Domestic
COMMENTS
Per confidentiality
requirements other consulted supplier has indicated they do not provide
information regarding their customers.
It should be mentioned
all goods sold by company are bought from foreign based suppliers.
LIST OF DOMESTIC SUPPLIERS
Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier _ Telephone
_
DHL PANAMA 507
2713495
MAERSK LOGISTIC 507 2106500
BANKING INFORMATION
BANKERS
Bank
HSBC
The aforementioned bank
does not provide information regarding its customers under privacy policies.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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. |
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%)