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Report No. : |
334962 |
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Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
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Name : |
APEEJAY TEA (PANAMA) INC |
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Registered Office : |
Paseo Roberto Motta Capital Plaza, Floor 8
Costa del Este, Panama P.O. Box 0819-05911 Panama, Republic of Panama |
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Country : |
Panama |
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Year of Incorporation : |
2005 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Subject is an International Business Company incorporated in Panama
for tax purposes. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
International Business Company |
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Payment Behaviour : |
Unknown |
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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 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Panama |
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 |
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 Trade 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 estimated to be completed by 2016 at a cost of $5.3 billion - about 10-15% 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 completed a metro system in Panama City, valued at $1.2 billion in 2014. Panama's transportation and logistics services sectors, along with infrastructure development projects, have boosted economic growth; however, public debt surpassed $17 billion in 2014 because of excessive government spending and public works projects. Foreign direct investment has continued to be a source of growth. Strong economic performance has not translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America. About one-fourth of the population lives in poverty; however, from 2006 to 2012 poverty was reduced by 10 percentage points. The US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011, and entered into force in October 2012.
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Source
: CIA |
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Order: |
APEEJAY TEA (PANAMA) INC |
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Address in the order: |
PATTON, MORENO & ASVAT, CAPITAL PLAZA
BUILDING, |
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Legal Name: |
APEEJAY TEA (PANAMA) INC |
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Trade Name: |
APEEJAY TEA (PANAMA) INC. |
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ID: |
497977 |
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Date Created: |
2005 |
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Date Incorporated: |
11/07/2005 |
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Legal Address: |
Paseo Roberto Motta |
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Operative Address: |
Paseo Roberto Motta |
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Telephone: |
(507) 306-9600 |
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Fax: |
(507) 263-7887 |
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Legal Form: |
Corporation for Profit |
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Email: |
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Registered in: |
Panama |
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Website: |
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Contact: |
PRESIDENT, ASHOKE GHOSH |
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Staff: |
0 |
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Activity: |
IBC |
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Central Bank of Panama |
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The company does not disclose its banking information |
The company was established in 2005
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APEEJAY TEA (PANAMA) INC is an
International Business Company incorporated in Panama for tax purposes. |
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Products/Services description: |
NA |
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Brands: |
NA |
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Sales: |
NA |
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Clients: |
NA |
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Suppliers: |
NA |
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Operations area: |
NA |
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The company imports from |
NA |
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The company exports to |
NA |
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The subject employs |
NA |
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Payments: |
NA |
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Headquarters : |
The company does not operate in the country. It would use its address
for tax purposes. |
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Branches: |
NA |
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Listed at the stock exchange: |
NO |
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Capital: |
GBP 11,001,000.00 |
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Shareholders %: |
The company's major holder would be: |
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Management: |
PRESIDENT, ASHOKE GHOSH |
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Related Companies: |
Directors |
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Suscribers |
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Agent: |
PATTON MORENO & ASVAT |
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The company does not make its financial statements public. |
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Apeejay Surrendra Corporate Services Limited (new name - APEEJAY TEA
LIMITED) |
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Revenue |
63 423 000 |
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Net Income |
5 779 000 |
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Total Equity |
50 343 400 |
There are no legal connected to the subject
This is an International Business Company which belongs to a company
located in Panama.
It is registered in Panama for tax purposes and does not operate within
the country. It is managed by a resident registration agent.
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DEBTS |
Controlled |
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PAYMENTS |
Unknown |
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CASH FLOW |
Normal |
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STATUS |
Active |
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NAME |
NA |
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POSITION |
Agent |
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COMMENTS |
They refused to confirm information on the subject ofr privacy
reasons. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
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UK Pound |
1 |
Rs.99.60 |
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Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
VNT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.