MIRA
INFORM REPORT
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Report Date : |
04.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TOTAL CARGO S.A. |
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Registered Office : |
Calle 16, Edificio 40,
Local 6-A, Zona Libre de Colón/Colón |
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Country : |
Panama |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
29DEC2003 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Importation,
reexportation of every class of dry merchandise (pots, frying pans, curtains,
watches, decoration products] |
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 |
IDENTIFICATION
CORRECT COMPANY NAME : TOTAL CARGO S.A.
TAXPAYER REGISTRATION : RUC 36537-10-443372
OPERATING STATUS :
Active
MAIN ADDRESS
: Calle 16, Edificio
40, Local 6-A
CITY/PROVINCE/STATE :
Zona Libre de Colón/Colón
COUNTRY : PANAMA
TELEPHONE :
(507)6677.8890
FAX : (507)441.2734
SUMMARY
Incorporation
: 2003
Operating Status :
Active
Last Capital
: US$70,000.= Dólares
Shareholders' Equity : US$172,446.= Dólares
(31.12.2006)
Annual Sales
: 1,327,728.00 US$ Dollars
Finantial Situation
: LIGHTLY FAIR
Employees :
3
QUALIFICATION
RATING : Satisfactory
PAYMENTS : No further credit experience available
LEGAL BACKGROUNDS
LEGAL STATUS :
Joint-Stock Company
DATE OF INCORPORATION : 29DEC2003
REGISTERED IN :
Panama
NOTARY OFFICE :
Tenth of the Circuit
DURATION : Perpetual
REGISTRATION :
Card 445572, Document 565370
CURRENT PAID-IN CAPITAL : US$70,000 Dollars
SHAREHOLDERS' EQUITY : US$172,446.= Dollars (31/12/2006)
CURRENT EXCHANGE RATE : B/.1.= per USD1
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
CHHABRIA, VIKRAM Exe.President/Leg.Repres. Yes
CHHABRIA, LADHARAM Treasurer/Director Yes
CARDENAS, GLORIA Director/Secretary Yes
WHO IS WHO ?
CHHABRIA, VIKRAM
NATIONALITY : Indian
BORN : 1973
CHHABRIA, LADHARAM
NATIONALITY : Indian
LABOR
AND/OR BUSINESS BACKGROUNDS .-
He is Vikram Chhabria's
father.
RELATED COMPANY(IES)
Found no related or
affiliated companies.
BUSINESS
MAIN ACTIVITY .-
Importation,
reexportation of every class of dry merchandise (pots, frying pans, curtains,
watches, decoration products)
Most of the times,
Subject is a trading company and contacts suppliers with clients getting a commission
for said transactions. No stock is used.
IMPORT : Yes from the West
EXPORT : Yes Colombia and other South American countries and
the Caribbean
% FOREIGN SALES(COUNTRIES): 50%
% FOREIGN PURCHASES : 100%
SELLING TERRITORY: 50% - domestic market
EMPLOYEES : 3
FACILITIES -
Premises
: Rented
Use
: Headquarters
FINANCIAL INFORMATION
Vidram Chhabria, General
Manager, provided with the information contained in this report, including
Balance Sheet for the Fiscal Year ended as of December 31, 2006, expressed in
US$ Dollars.
BALANCE
SHEET DATE : 31DEC2006
TYPE OF
BALANCE SHEET : Annual
BALANCE
SHEET OF : 12
months
CURRENCY : US$
Dollars
EXCHANGE
RATE PER US$ : 1.00
ASSETS
TOTAL
CURRENT : 382,759.00
FIXED : 83,416.00
TOTAL
ASSETS : 466,175.00
LIABILITIES
TOTAL
CURRENT : 293,729.00
TOTAL
EQUITY : 172,446.00
TOTAL
LIABILITIES : 466,175.00
SALES : 1,327,728.00
PROFIT
(LOSS) : 216,659.00
LIQUIDITY RATIO : 1.30
(Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 58.71% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 16.32% (Profits/Sales)
WORKING CAPITAL :
89,030.00 (Current Assets -
Current Liabilities)
FINANCIAL SITUATION
: LIGHTLY FAIR
According to the last
Financial Statement, Subject's Financial Position is considered slightly
Extended, as Liquidity Ratio is lightly acceptable. Working Capital is lightly
satisfactory. Liabilities are moderately supported by shareholder's equity.
Results are acceptable.
INSURANCE -
Subject is not covered by
any insurance company.
PAYMENTS RECORD
TRADE REFERENCES –
COMMENTS
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No customs agents are used
because Subject operates in the Foreing Trade Zone and most of the times
expenses are chargeable to the customers.
BANKING INFORMATION
BANKERS
Bank
MULTICREDIBANK
Subject is a client of the
above banks. No more information was given under the Bank Secrecy Act.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)