MIRA INFORM REPORT

 

 

Report Date :

07.03.2013

 

IDENTIFICATION DETAILS

 

Name :

VIBRANT IMPORT CORP.

 

 

Registered Office :

Edificio Servicios Aeroportuarios Of. 53, Piso 4

 

 

Country :

Panama

 

 

Date of Incorporation :

06.05.2003

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Distribution of jeans for men and women.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Panama

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

PANAMA - ECONOMIC OVERVIEW

 

Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is scheduled to be completed by 2014 at a cost of $5.3 billion - about 10% of current GDP. The expansion project will more than double the Canal''s capacity, enabling it to accommodate ships that are too large to traverse the existing canal. The United States and China are the top users of the Canal. Panama also plans to construct a metro system in Panama City, valued at $1.2 billion and scheduled to be completed by 2014. Panama''s booming transportation and logistics services sectors, along with aggressive infrastructure development projects, have lead the economy to continued growth in 2011. Strong economic performance has not translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America. About 30% of the population lives in poverty; however, from 2006 to 2010 poverty was reduced by 10 percentage points, while unemployment dropped from 12% to less than 3% of the labor force in 2011. A US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011. Seeking removal from the Organization of Economic Development''s gray-list of tax havens, Panama has also recently signed various double taxation treaties with other nations.

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

VIBRANT IMPORT CORP.

TAXPAYER REGISTRATION

RUC 4635191433228

MAIN ADDRESS

Edificio Servicios Aeroportuarios Of. 53, Piso 4

DEPT/PROV/REGION/STATE

Panamá / Panamá

COUNTRY

PANAMA

TELEPHONE

(507) 4461110

E-MAIL

maruti@psi.net.pas

 

SUMMARY

 

Date of foundation

2003

Capital stock

US$50,000.00 Dollars

permanent employees

No specified

Chief Executive

CHAWLA, AMBUJ

Disposition

C: Poor. Very few information was given. Politely.

Payments policy

Without rating (No payment experience traced)

Credit (**)

Indeterminate, Information is insufficient. With no Experience.

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

 

 

DATE OF INCORPORATION

06MAY2003

 

 

PLACE OF REGISTRY

Panama

 

 

NOTARY OFFICE

2

DURATION

Perpetual

REGISTRATION

Index Card 433228, Vol 2003, Entry 47989(08/05/03)

 

 

CURRENT PAID-IN CAPITAL

US$50,000.00 Dollars

 

 

CLASS OF SHARES

Registered

LISTED AT STOCK EXCHANGE

No

SHARE VALUE

US$1,000.= Dollars

 

 

CURRENT EXCHANGE RATE (US$)

B/.1.= Balboa per 1.= USD

 

 

COMMENTS

 

 
Incorporated by public deed No.3152 dated 06/05/2003..
 
According to its statutes, the Legal Representative shall be the President and in his absence the Board shall appoint the person who will hold the position.
 
The subject's Resident Agent is:
CASTRO Y CASTRO S.C.
Law Firm
Address: San Francisco Calle los Fundadores y Calle Mario Guardia Jaen
Apartado  0830-1630 Panama
Tel.(507) 270-0155
Fax (507) 270-0173
 
 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

CHAWLA, AMBUJ

President/Secretary

 

08/05/03

MORALES, MELKYS SAVIER

Treasurer

 

08/05/03

CHAVEZ, LENIGDIO XAVIER

Director

 

08/05/03

 

 

WHO IS WHO?

 

CHAWLA, AMBUJ

TITLE

President/Secretary

NATIONALITY

Indian

 

 

 

 

 

BUSINESS HISTORY

 

 
LENIGDIO XAVIER CHAVEZ  and MELKYS SAVIER MORALES signed the articles of incorporation.

 

 

BUSINESS

 

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

Main activity

 
Distribution of jeans for men and women. Representative of foreign brands.

EMPLOYEES

No specified

 

LOCATION

 

OTHER PREMISES

 
The Registered office operates at the address shown in the heading.

 

FINANCIAL INFORMATION

 

Disposition

C: Poor. Very few information was given. Politely.

Interviewee(s)

Ambuj Chawla

Position(s)

President

Information provided

 
Despite having explained the advantages it would bring to co-operate, the respondent declined to give information if he is not told the name of the entity or company who requested the report.
 
From previous research we know they are very private and reluctant to co-operate.
 
Consequently, this information was obtained from indirect sources (public sources, our own files, etc.).
 
It is important to mention in Panama, it is possible to access financial statements of  publicly-listed companies only. Privately-held companies have no obligation to publish their figures, therefore the only way to obtain said information is through the company itself.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
NN: UNDETERMINED
Subject's Financial Position is considered UNDETERMINED, since there are no financial figures allowing a financial analysis of their results in last fiscal year.
Trade references are very few, if any, which prevents us from establishing their payment habits
Little information found about the Owners creditworthiness.
The reluctance in their statements, derived from confidential policies, makes us lack more leads or evaluation sources
Public and private sources of information do not report further details.

Insurance Comments

 

 
No insurance-related information could be obtained.

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS


(Confidential Information)

TRADE REFERENCES

 

GENERAL INFORMATION

 

REPUTATION

 

NOTHING AGAINST COMPANY

 

 

 

 

CREDIT OPINION

 

 

 

A credit opinion cannot be given due to the lack of financials and payment experience.

NOTE : The opinion given is confidential, referential and with out liability.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.71

UK Pound

1

Rs.82.79

Euro

1

Rs.71.43

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.