MIRA
INFORM REPORT
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Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
N.V. TRANS AMERICA TRADING |
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Registered Office : |
Fred Derbystraat 20, Paramaribo |
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Country : |
Suriname |
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Date of Incorporation : |
1995 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in foreign trade,
intermediate and representation activities by acting as an import-export
merchant, trader and representative-agent of foreign firms on a commission basis. |
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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Maximum Credit Limit : |
USD 50.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company's Style
N.V.
TRANS AMERICA TRADING
Trade Name : Same
Trading Address
Fred Derbystraat 20,
Town :
PARAMARIBO
Country :
SURINAME
Telephone : (597)47 5273 - 42 5549
Fax :
(597)42 2647
BACKGROUND INFORMATION & BUSINESS
PROFILE
LEGAL STRUCTURE
Legal Status : Limited
Liability Company
Date established :
1995
CAPITAL STRUCTURE & OWNERSHIP : (in
SRG, Suriname Guilder)
REGISTERED CAPITAL FUNDS: SRG 500.000
MANAGEMENT : General Manager Albert
Boerr
TYPE OF BUSINESS :
TRADER / IMPORTER - WHOLESALER
MAIN BUSINESS LINE : IMPORT-EXPORT-REPRESENTATIONS / MARITIME
AGENTS SUPPLIES
PRINCIPAL ACTIVITY : it is engaged in foreign trade,
intermediate and representation activities by acting as an import-export
merchant, trader and representative-agent of foreign firms on a commission
basis. The company operates either for its own account or for the account ad on
behalf of third parties, as well as by acting only as a representative-agent on
a commission basis, by linking local exporters with foreign buyers, or overseas
exporters with domestic importers, and collecting its corresponding commission
as soon as the transaction or business was completed.
In addition, it also operates as a
maritime agency specializing in trans-shipments, loading and unloading
operations, brokerage services, ship chandlers, etc.
Company Size : Moderate-size
Business trend : Stable
Present situation :
Operating normally
Outlook :
Favourable
Organization : Average.
No major problems observed.
Reputation : well-known
company of good reputation. An active company in its line. Good market
position.
Management standard : The management consists of well-known
businessmen of good repute, and with years
of experience is related fields. Traditional
methods of management with good forward
planning, and well defined corporate policy
SALES & TRADING DETAILS
Annual Sales : USD
2.500.000
Sales trend : Stable
Selling method :
100 % wholesale
Selling Term : 20 % cash
and 80 % on a 30-day open acct.credit basis
Sales Territory :
National
Sales Seasonality : stable throughout the year
Distribution channels
& points of sale : Sales are direct to shipowners,
etc. and it also bids for Governmental and Municipal
contracts.
Sales branches : No
Overseas agencies, branches or
representative offices: Nil
Market share : It is
considered to be of moderate importance within its market segment.
New products or services: Under study
Market situation : competitive
Advertising means : specialised publications, fairs
& expositions
Purchases : Local sources: 20
% - Overseas (imports): 80 %
Imports from : P.R. China, The
Netherlands, Belgium, U.S.A., U.K., Germany, etc.
Imports in USD : 1.200.000 per year
Terms imports : L/C, CAD terms, drafts over 90 to 120 days, etc.
STAFF
: 24
BANKERS : De Surinaamsche Bank N.V
TANGIBLE FIXED ASSETS, INVESTMENTS, ETC.
PHYSICAL ASSET HOLDINGS : No properties
Physical inspection of premises:
condition :
modern
equipment & facilities :
adequate
location :
subject's premises are located in an urban commercial section
access ways :
adequate
parking space :
No
works under construction : No
works under project :
No
RELATED COMPANIES/SHAREHOLDINGS : nil
CREDIT STANDING
BANKING RECORD : Banks reported
properly managed checking accounts (local currency and USD), also foreign trade
operations, ollections of bills of exchange, negotiation of LC's. and credit
lines in USD for imports until high 5 figures, with good experience reported to
date. Good credit history information and banker's opinion.
TRADE REFERENCES SURVEY :
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Supplier |
Services |
Supplies |
Supplies |
Supplies |
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Known since |
Years |
Years |
Years |
Years |
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Latest Sale Date |
Jan/2007 |
Jan/2007 |
Jan/2007 |
Jan/2007 |
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Latest Sale Amount |
USD 3.811 |
USD 5.110 |
USD 7.217 |
USD 10.055 |
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Highest Sale |
USD 4.285 |
USD 7.149 |
USD 9.172 |
USD 12.901 |
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Buying terms |
30-day O/A |
30-day O/A |
30-day O/A |
30-day O/A |
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Paying record |
PROMPT |
PROMPT |
PROMPT |
PROMPT |
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NSF checks |
NO |
NO |
NO |
NO |
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Delayed payments |
NO |
NO |
NO |
NO |
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Non-payments |
NO |
NO |
NO |
NO |
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Experience |
GOOD |
GOOD |
GOOD |
GOOD |
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Rating |
GOOD |
GOOD |
GOOD |
GOOD |
PAYMENT ANALYSIS
Type of suppliers :
local trade & service suppliers
Payment patterns :
Good bill-pay habits. Pays within agreed terms
Commercial morality : GOOD - Commitments are respected
Repayment capacity : Moderate
Negative facts check : No defaults, delinquencies, legal suits,
judgements, collection claims, protested items, returned checks or other
detrimental record or adverse references are traced against the subject.
FINAL OPINION
We are reporting upon a moderate-size, well credited and known company
which enjoys a good ad well diversified portfolio of clients. It is considered
to be a successful business operation and a well organized company, and it
operates on a good cale. Its level of activity is good and it is well managed
by an experienced, reliable and honest staff, therefore, its future outlook is
estimated to be favourable. It is also a financially sound company, and its
payments and contractual commitments are duly met, so no objections are noted
upon its current trading position. Therefore, business connections with this
company are suitable, and moderate credits are recommended.
CREDIT QUALITY ANALYSIS
Level of riskiness : Standard (Normal)-risk buyer
Credit soundness :
Good
Credit appraisal :
Recommended
Potential credit limit : USD 50.000
Assessment : It is
considered to be an initial credit limit
Credit surveillance : Subject to regular review &
supervision
Exchange rate USD 1 : SRG 2,74
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%)