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Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
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Name : |
RELIANCE INTERNATIONAL ZONA LIBRE S.A. |
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Registered Office : |
José Dominador Bazan, Edif. Cofrisa 9, Local 4 y 4A, Mz.29, Zona Libre de Colón , Colón |
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Country : |
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Date of Incorporation : |
24.02.1995 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
marketing of textiles, fabrics for furniture,
curtains |
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No. of Employees : |
31 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Panama |
B1 |
B1 |
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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 |
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CORRECT COMPANY NAME |
RELIANCE
INTERNATIONAL ZONA LIBRE S.A. |
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TAXPAYER REGISTRATION |
RUC 45180074299009 |
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MAIN ADDRESS |
José Dominador Bazan, Edif. Cofrisa 9,
Local 4 y 4A, Mz.29 |
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PROVINCE / DEPARTAMENT |
Zona Libre de Colón |
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STATE / REGION |
Colón |
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COUNTRY |
PANAMA |
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TELEPHONE |
(507) 4311400 - 4311409 - 4311413 |
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E-MAIL |
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WEB |
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Date of foundation |
1995 |
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Capital stock |
US$2,500,000 Dollars |
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permanent employees |
31 |
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Chief Executive |
NARAYAN, RAVI SHANKAR |
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Disposition |
Moderate.- Only some data and some
figures. |
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Payments policy |
Usually
to terms/good |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
24FEB1995 |
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PLACE OF REGISTRY |
Panama |
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NOTARY OFFICE |
10th.
of Circuit. |
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DURATION |
Perpetual |
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REGISTRATION |
1596,
Index Card 299009, Vol.236, Entry 5114 |
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CURRENT PAID-IN CAPITAL |
US$2,500,000
Dollars |
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LAST CAPITAL INCREASE |
No
increase reported |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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SHARE VALUE |
US$1,000.=
Dollars |
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CURRENT EXCHANGE RATE (US$) |
B/.1.=
per USD1 |
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COMMENTS |
Company was established on 13/02/1995 pursuant Deed 1596.By Deed 1583 dated 26/11/2009 executed at the First notary of Circuit, was resolved to sign a merger agreement between the companies RELIANCE INTERNATIONAL ZONA LIBRE S.A. (surviving company) andy ESTEEM INTERNACIONAL S.A. (merged company). Merger Agreement registered on 18/12/2009 under scanned document 1697234. |
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FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
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NARAYAN, RAVI SHANKAR |
Executive Chairman |
100% |
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BEGUR, RAGHU |
Treasurer |
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MELKOTE, RAVINDRA |
Administrative Manager |
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NARAYAN, RAVI
SHANKAR |
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NATIONALITY |
Indian |
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D.O.B. |
1964 |
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BEGUR, RAGHU |
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NATIONALITY |
Indian |
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MELKOTE,
RAVINDRA |
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NATIONALITY |
Indian |
Narayan Ravi Shankar and Haresh Mulchund Nawani signed the articles of incorporation. |
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RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
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Main activity |
The subject is engaged to the marketing of textiles, fabrics for furniture, curtains.Products sold include: yarns and sweaters, denim fabrics, stretch denim, white dacron fabric and in colors, patterned fabrics and polyester, embroideries, apparel for men, women and children, casual and sport shoes. |
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Import |
Yes |
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Country |
India, Korea, Thailand, Taiwan, Pakistan. |
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Export |
Yes |
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COUNTRY |
Central and South America. |
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% Ventas exterior (Paises) |
100% |
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% FOREIGN PURCHASES |
100% |
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EMPLOYEES |
31 |
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Comments |
Subject is said to have associated offices in India, Hong Kong and Taiwan.Representative of manufacturing firms from India and the Far East. |
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Interviewee(s) |
Third-party sources |
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Disposition |
Moderate.- Only some data and some
figures. |
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Information provided |
The report was made with information obtained from reliable external sources like databases and public official because of the reluctance of the executives of the company to provide information for security and confidentiality reasons. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINEDSubject's Financial Position is considered UNDETERMINED, since there is no financial figures allowing a financial analysis of the results in its last fiscal year.We only know their average annual sales reach US $ 20,000,000. = |
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INSURANCE |
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(Confidential
Information)
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Note : Other suppliers
did not provide information or could not be consulted |
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CREDIT HISTORY The subject buys mainly from foreign suppliers (Their local purchases are considered secondary) |
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LAWSUITS |
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Bank
MULTI BANK INC.
MEGA INTERNATIONAL
COMMERCIAL
HSBC BANK PANAMÁ
The subject is a
customer of those banks, which when consulted told us that in compliance with
current legal regulations, can not provide data on their customer movements out
of respect to banking secrecy.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.52 |
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UK Pound |
1 |
Rs.85.29 |
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Euro |
1 |
Rs.68.86 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.