MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ONIX TRADING COMPANY S.A. |
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Registered Office : |
Av. Balboa, Edificio
BBVA Piso 5, Apartado Postal 55-2485 Paitilla |
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Country : |
Panama |
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Date of Incorporation : |
22.08.1991 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Import and Re-export of
items of Clothing (formal and casual wear) for ladies and gentlemen of the brands
OSCAR DE LA RENTA, BEVERLY HILLS POLO. |
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 : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY
NAME : ONIX TRADING COMPANY S.A.
TRADE NAME :
"OSCAR DE LA RENTA"
TAXPAYER
REGISTRATION : RUC 33294-10-251248 OPERATING STATUS:
Active
MAIN ADDRESS :
Av. Balboa, Edificio BBVA Piso 5, Apartado
Postal 55-2485 Paitilla
CITY/PROVINCE/STATE :
Panamá/Panamá
COUNTRY : PANAMA
TELEPHONE : (507)227.3555
FAX : (507)227.0183/227.3564
E - MAIL : gerencia@onixco.com
WEB SITE : www.onixco.com
COMMENTS .-
Other e-mail:
onix@onixco.com; sandoval@onixco.com
Be advised the address in
your order belongs to a Subject's branch. Head offices are located as above
written.
SUMMARY
Incorporation :
1991 Operating
Status : Active
Last Capital :
No precisado
Finantial
Situation : UNDETERMINED
Employees : 52
Rating :
Lightly Satisfactory
Payments :
Usually to terms/good
Business
Trend : Stable, unchanged
QUALIFICATION
PAYMENTS:
Usually to terms/good
LEGAL BACKGROUNDS
LEGAL STATUS :
Joint-Stock Company
DATE OF
INCORPORATION : 22AUG1991
REGISTERED
IN :
Panama
NOTARY
OFFICE : 3rd.- Rubén
Arosemena G.
DURATION : Perpetual
REGISTRATION : Rec.Card 251248, Roll 33294, Frame 10 (12.09.91)
INITIAL
CAPITAL : US$10,000 Dollars
CURRENT PAID-IN
CAPITAL : No specified
CURRENT EXCHANGE
RATE :
B/.1.= per USD1
COMMENTS .-
Subject Company is a member of the Chamber of Commerce, Industry,
Culture and
Agriculture of Panama.
Company's capital stock
consists of:
- 1,000 common shares, no par value shown.
- 5,000 preferred shares at US$1,000 each, with interests of 6%
annually.
The current Board of Directors was appointed by Notarial Instrument
7982, dated
30.07.2002.
By Notarial Instrument No.13786, at the Tenth Notary's Office of the
City of Panama,
dated 08.08.2002, before Noemi Moreno Alba, Notary Public, a full
power of attorney was
granted to Alberto Raymondo Dayan and Raymond Dayan Safide acting
individually in any
part of the world, without limitation whatsover.
HISTORY
Subject was organized on August 22, 1991 in accordance with Notarial
Act 9142, at the
Third Notary's Office of the City of Panama, under the original name
SKY-HI PANAMA
TRADING SA. It was duly registered in the Registry of Commerce on
September
12.09.1991.
By Notarial Instrument No.13309, at the Third Notary's Office in the
city of Panama,
before Ruben Arosemena Guardia, Notary Public, dated 03.12.1991,
Subject's name was
changed to ONIX TRADING COMPANY S.A.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
DAYAN BTESH, ALBERTO RAYMOND President/Leg.Represent. Yes
DAYAN YOHROS, GAY ALEGRE Treasurer Yes
DAYAN SAFDIE, RAYMOND Secretary/Leg.Rep. Yes
BITTON, ANRAM Gen.
Manager - Free Zone
SANDOVAL, JUAN Controller
WHO IS WHO ?
DAYAN BTESH, ALBERTO RAYMOND
BACKGROUNDS .-
Alberto Raymond Dayan or Raymond Dayan, appears indistinctly, as Legal
Representative
and Owner of the companies listed below:
- ALGAY SA
- ANABEL PROPERTIES INC. SA
- ARGAMAN FINANCIAL CO. SA
- BERTINI FASHIONS INTERNATIONAL
- C.L.R. INVESTMENT SA
- COST INVESTMENT SA
- COUNTRY COMPANY SA
- DAKOTONI INVESTMENT COMPANY SA
- DAY INVESTORS ASSOCIATES
- DAYAN HERMANOS SA
- DEPO PROPERTIES SA
- DINAMIC INVESTMENT CO. SA
- EMEK FINANCIAL CO. SA
- EXCELLENT INVESTMENT COMPANY SA
- FIRST INTERNATIONAL FINANCIAL CORPORATION FINAFICO
- FOREST COMPANY SA
- GIL-AL TRADING COMPANY SA
- JACOMIN INVESTMENTS SA
- L. SHAHORI CLUB SA
- LAS PRINCESAS SA
- LINDAGAY SA
- LINDARAY ASSOCIATES INC.
- MEGA TRADING SA
- MISTYC DESIGNS SA
- NEW EPOGNE SA
- NEW INVESTMENT COMPANY SA
- ONIX TRADING COMPANY
- PANA PROPERTIES SA
- RIO DARVI SA
- ROYAL TEAM SA
- SELLABRA SA
- SKY PROPERTY SA
- WESTERN PROPERTIES INC. SA
RELATED COMPANY(IES)
ONIX TRADING COMPANY S.A.
is part of the DAYAN business group formed in Panama in 1956.
COMPANY NAME COUNTRY TAX.REG.
RELATION
ALGAY S.A. PANAMA Related
ANABEL PROPERTIES INC. S.A. PANAMA Related
ARGAMAN FINANCIAL CO., S.A. PANAMA Related
BERTINI FASHIONS INTERNATIONAL PANAMA Related
C.L.R. INVESTMENT S.A. PANAMA Related
COST INVESTMENT S.A. PANAMA Related
COUNTRY COMPANY S.,A. PANAMA Related
DAKOTONI INVESTMENT COMPANY S.A. PANAMA Related
DAY INVESTORS ASSOCIATES PANAMA Related
DAYAN HERMANOS SA
PANAMA Related
DEPO PROPERTIES S.A. PANAMA Related
DINAMIC INVESTMENT CO., S.A. PANAMA Related
EMEK FINANCIAL CO. S.A. PANAMA Related
EXCELLENT INVESTMENT COMPANY S.A. PANAMA Related
FIRST INTERNATIONAL FINANCIAL CORPORATION PANAMA
Related
FOREST COMPANY S.A. PANAMA
Related
GIL-A1 TRADING COMPANY S.A. PANAMA Related
JACOMIN INVESTMENTS, S.A. PANAMA Related
L. SHAHORI CLUB S.A. PANAMA Related
LAS PRINCESAS S.A. PANAMA Related
LINDAGAY S.A. PANAMA Related
LINDARAY ASSOCIATES INC. PANAMA Related
MEGA TRADING S.A. PANAMA Related
MISTYC DESIGNS S.A. PANAMA Related
NEW EPOGNE S.A. PANAMA Related
NEW INVESTMENT COMPANY S.A. PANAMA Related
PANA PROPERTIES S.A. PANAMA Related
RIO DARVI S.A. PANAMA Related
ROYAL TEAM S.A. PANAMA Related
SELLABRA S.A. PANAMA Related
SKY PROPERTY S.A. PANAMA Related
TITANIUM CORPORATION S.A. CHILE
96.996.770-7 Related
WESTERN PROPERTIES INC., S.A. PANAMA Related
BUSINESS
MAIN ACTIVITY .-
Subject is engaged in import and re-export of items of clothing
(formal and casual wear) for ladies and gentlemen of the brands OSCAR DE LA
RENTA, BEVERLY HILLS POLO. It is the exclusive representative for all Latin
America of the cited brands.
IMPORT :
Yes United States, Asia and Europe
EXPORT : Yes Central and South America
% FOREIGN SALES(COUNTRIES)
: 95%
% FOREIGN PURCHASES : 100%
SELLING TERRITORY : 05% (Domestic
market) and abroad
EMPLOYEES : 52
FACILITIES .-
Area : 350 m2
Condition : Good infrastructure (cement blocks and glass)
Use : Headquarters
Remarks and other Premises .-
Headquarters are located in the Free Zone of the City in the above
mentioned address.
Facilities are shared with the related firm SKY PROPERTY SA.
Subject has other premises at Calle 16 Avenida Roosevelt, Edificio 18,
Zona Libre de
Colon, Provincia de Colon, where the operational site is located.
E-mail: gerencia@onixco.com. Tel.: 4470022/4470019/4417951/4302363.
Fax:4417956.
COMMENTS .-
Wholesalers - 100%
FINANCIAL INFORMATION
This report has been prepared based on the information collected from
external sources
like databases and official since representatives of the Company were
unwilling
to give information.
We contacted Juan Sandoval (Controller), but he refused to give any
detail by arguing
he had no time to deal with us.
Other executives were consulted but they referred not to be authorized
to give
information to third-party because of confidential policies. They said
Juan Sandoval
was the only person authorized for such purpose.
Therefore, in order to complete this report we had to search in
databases and official
records where we found the information contained herein, except for the
balance sheets
to analyze the real economic and financial situation of this Company.
It is worth mentioning that in Panama you could only get financial
information from
public companies. Contrarily, private companies are not required to
publish its
financial statements, being able to do it voluntarily.
FINANCIAL SITUATION : UNDETERMINED
Financial situation is considered indeterminate since no accounting
elements were
available to assess Subject's results.
Based on what we investigated, ONIX TRADING CO. S.A. and its related
firms are referred
to as leaders in the distribution of items of clothing of famous
designers. Nowadays,
Subject is the exclusive representative for all over Latin America of
OSCAR DE LA RENTA
and BEVERLY HILLS POLO.
PAYMENTS RECORD
TRADE REFERENCES .-
Line of Credit _ Monthly Average Terms(days))
Performance? _ Time _ Products/Services Supplier
1
Open US$ 2,000/3,000 30 days Prompt
1999 Courier service Domestic
COMMENTS .-
No significant trade
credit experience was reported locally as Subject only buys from overseas
suppliers.
LIST OF DOMESTIC
SUPPLIERS .-
Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier _ Telephone _
DHL Panamá S.A. (507) 72713451
Oscar de la Renta
LIST OF FOREIGN SUPPLIERS
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Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier _ Country _
OSCAR DE LA RENTA U.S.A.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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. |
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%)