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Report Date : |
18.12.2014 |
IDENTIFICATION DETAILS
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Name : |
PANACHE
INTERNATIONAL FZ LLC |
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Registered Office : |
Plot No. E85/86/F104,
International Media Production Zone (IMPZ), |
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Country : |
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Date of Incorporation : |
09.05.2012 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
Engaged in the
manufacture of disposable plastic cups, plates, bowls and containers. |
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No of Employees : |
140 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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|
a2 |
a2 |
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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 |
United Arab Emirates ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income
and a sizable annual trade surplus. Successful efforts at economic
diversification have reduced the portion of GDP based on oil and gas output to
25%. Since the discovery of oil in the UAE more than 30 years ago, the country
has undergone a profound transformation from an impoverished region of small
desert principalities to a modern state with a high standard of living. The
government has increased spending on job creation and infrastructure expansion
and is opening up utilities to greater private sector involvement. In April
2004, the UAE signed a Trade and Investment Framework Agreement with
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Source
: CIA |
Company Name : PANACHE INTERNATIONAL FZ LLC
Country of Origin :
Legal Form : Free Zone Limited Liability Company – FZ LLC
Registration Date : 9th May 2012
Trade Licence Number : 18883
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Total Workforce : 140
Activities : Manufacturers of disposable plastic cups, plates, bowls and containers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
PANACHE
INTERNATIONAL FZ LLC
Registered &
Physical Address
Location : Plot No. E85/86/F104, International
Media Production Zone (IMPZ)
PO Box : 121901
Town :
Country : United Arab Emirates
Telephone : (971-4) 4542093
Facsimile : (971-4) 4542092
Email : info@panacheintltd.com
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
International Media Production Zone Area of Dubai.
Name Nationality Position
·
Vishal
Shah Indian Managing
Director
·
Nickung
Shah Indian Director
·
Hemant
Tyagi - Human
Resources Manager
·
Ragwan
Onni Krishnan - Sales
Manager
·
Sonam
Mohla - Financial
Controller
Date of Establishment : 9th
May 2012
Legal Form :
Free Zone Limited Liability
Company – FZ LLC
Trade Licence No. : 18883
(Expires 09/05/2015)
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Name of
Shareholder (s)
·
Vishal
Shah
·
Nickung
Shah
Activities: Engaged in the manufacture of disposable plastic
cups, plates, bowls and containers.
Subject has a
workforce of 140 employees.
Companies
registered in
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
No complaints regarding
subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.99.98 |
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Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.