MIRA INFORM
REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
PARS IMPORTS INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.05.2001 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Gift Bags Manufacturer |
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 : |
USD 330,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATEs
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Pars Imports |
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Address in the
order: |
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Legal Name: |
PARS IMPORTS
INC. |
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Legal Address |
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Telephone: |
(713) 334-3337 |
ID : |
0162936900 |
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Fax: |
(713) 334-5252 |
Legal Form: |
Corporation for
Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
2001 |
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Manager: |
Ali Ahly,
President |
Date
Incorporated: |
May 18th, 2001 |
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Staff: |
30 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Gift Bags
manufacturer |
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BANKS
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Name of the
Bank |
CATHAY BANK |
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Location |
777 N BROADWAY
LOS ANGELES CA 90012- 2819 |
BUSINESS
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HISTORY |
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The company was
created in 2001. |
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PRINCIPAL
ACTIVITY |
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The company is
engaged in Gift Bags manufacturing and distribution. |
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Products/Services
description: |
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The company designs,
manufactures and distributes the following products: Tissue papers Ballons Gift boxes Yard signs Plastic cutlery Gift bags Gift wrap Party items Hair
accessories Gift bag
displays |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of
the industry. |
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Operations
area: |
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National,
International |
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The company
imports from |
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The company
export to |
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The subject
employs 30 employee(s) |
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PAYMENTS |
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made on a 30 days
basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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Comments on
location: |
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Headquarters
and operative location. |
Shareholders - Manager - Related Companies
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Listed at the
stock exchange: |
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NO |
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Shareholders
Parent Company(ies): |
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The company is
privately held. The major
shareholder is Mr. Ali Ahly. |
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Management: |
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Ali Ahly,
President Danny Bhandari,
Sales Executive |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private
company the subject does not publish any financial statements. |
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We have
contacted Danny Bhandari, Sales Executive, who provided us with the following
data: |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
10,000,000 |
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The cash flow is |
normal |
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Legal Fillings |
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There are 2 UCC** files listed
with the Secretary of State of Texas. There are no legal filings listed
with the District Court. THE COMPANY IS NOT LISTED ON THE OFAC LIST.* For information: * The Specially Designated Nationals (SDN) List is a publication of
OFAC which lists individuals and organizations with whom ** The Uniform Commercial Code (UCC) is one of a number of uniform
acts that have been promulgated in conjunction with efforts to harmonize the
law of sales and other commercial transactions in all 50 states within the The UCC deals primarily with transactions involving personal property
(movable property), not real property (immovable property). It allows a creditor to notify other creditors about a debtor’s assets
used as collateral for a secured transaction by filing a public notice
(financing statement) with a particular filing office. The Uniform Commercial Code Bureau files and maintains on financial
obligations (including IRS liens) incurred by individuals (in business as a
sole proprietor), business entities and corporations. |
Rating
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Local credit bureau gave a correct credit rate. The company is in Good Standing. This means that all local and federal
taxes were paid on due date. |
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Final Opinion |
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This is a small sized American company. It employs 30 people and has
been in business for 9 years. A credit line may be considered for USD 330,000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person
Interviewed |
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Danny Bhandari |
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Position |
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Sales Executive |
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Comments |
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The person contacted
provided the following information: President`s
name Shareholder Number of
employees Creation date Activity Bank references Imports Exports Payment to
suppliers Estimated
annual revenue |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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1 |
Rs.72.55 |
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Euro |
1 |
Rs.62.43 |
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 |
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 |
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.