MIRA INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
CASA OSAKA INTERNACIONAL S.A. |
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Registered Office : |
Calle 15, Avenida Roosevelt, Colon, Colón State |
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Country : |
Panama |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.04.1977 |
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Com. Reg. No.: |
Card 12334, Volume 127, Entry 5465 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Import and export of textile products and
kitchen accessories |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
US$130,000 |
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Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Panama |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
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 |
IDENTIFICATION
|
CORRECT
COMPANY NAME |
:
|
CASA OSAKA INTERNACIONAL
S.A. |
|
TRADE
NAME |
:
|
"CASA OSAKA
INTERNACIONAL S.A." |
|
TAXPAYER
REGISTRATION |
:
|
RUC 5513012334DV33 |
|
MAIN
ADDRESS |
:
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Calle 15, Avenida Roosevelt,
Colon |
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POSTAL
CODE |
:
|
N/A |
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CITY |
:
|
Colón |
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DEPARTMENT/STATE |
:
|
Colón |
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COUNTRY |
:
|
PANAMA |
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TELEPHONE |
:
|
4413641 |
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FAX |
:
|
4414766 |
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WEB
SITE |
:
|
www.casaosaka.com |
COMMENTS
.-
Another e-mail: v
P.O. Box
0302-00527
SUMMARY
FOUNDATION :
1977
LAST CAPITAL :
US$970,000.= Dollars
SALES :
6,927,000.00
EMPLOYEES :
50
PAYMENTS : Usually to terms/good
CHIEF EXECUTIVE :
WATEMBERG KOVALSKI, LEO
DISPOSITION :
TOTAL (Full information and figures).
LEGAL BACKGROUNDS
|
LEGAL ESTATUS |
: |
Joint-Stock Company |
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DATE
OF INCORPORATION |
:
|
22APR1977 |
|
START
OF OPERATIONS |
:
|
N/A |
|
REGISTERED
IN |
:
|
Panama |
|
NOTARY
OFFICE |
:
|
No 4, Cuarta de la Ciudad. |
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DURATION |
:
|
Perpetual |
|
REGISTRATION |
:
|
Card 12334, Volume 127,
Entry 5465 |
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INITIAL
CAPITAL |
:
|
B/.500,000.= Balboas |
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CURRENT
PAID-IN CAPITAL |
:
|
US$970,000.= Dollars |
|
LAST
CAPITAL INCREASE |
:
|
N/A |
|
SHAREHOLDERS'
EQUITY |
:
|
N/A |
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TYPE
OF SHARES |
:
|
N/A |
|
LISTED AT STOCK EXCHANGE |
:
|
No |
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SHARE
VALUE |
:
|
N/A |
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CURRENT
EXCHANGE RATE |
:
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B/.1.= per 1.00 USA Dollar |
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MEMBERSHIP |
:
|
N/A |
COMMENTS
.-
Current shareholders structure of the company was
not specified.
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
|
COHEN MUGRABI, VICTOR DAVID |
President |
|
COHEN MUGRABI, DANNI DAVID |
Vice President |
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COHEN MUGRABI, LEO DAVID |
Treasurer |
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WATEMBERG KOVALSKI, LEO |
Member/General Manager |
|
MUGRABI DE WATEMBERG,
MARCELA COHEN |
Member |
|
ANAYA DE ARMAS, ZENOBIA |
comptroller |
|
OLIVITO, SHYRA |
Accounting Chief |
WHO IS WHO?
COHEN
MUGRABI, VICTOR DAVID
NATIONALITY : Panamanian
BORN : 18OCT1971
DOC OF IDENT. : CI 3-108-425
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
OFFICE EXPRESS S.A. |
|
50526176318568 |
PANAMA |
COHEN
MUGRABI, DANNI DAVID
NATIONALITY : Panamanian
BORN : 26FEB1973
DOC OF IDENT. : CI 3-100-680
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
OFFICE EXPRESS S.A. |
Secretary |
50526176318568 |
PANAMA |
COHEN
MUGRABI, LEO DAVID
NATIONALITY : Panamanian
BORN : 14JUN1968
DOC OF IDENT. : CI 3-99-847
WATEMBERG
KOVALSKI, LEO
NATIONALITY : Colombian
BORN : 13OCT1956
DOC OF IDENT. : CI E-8-83946
CIVIL STATUS : Married to Marcela Cohen Mugrabi de Watemberg
MUGRABI
DE WATEMBERG, MARCELA COHEN
NATIONALITY : Panamanian
BORN : 18OCT1971
DOC OF IDENT. : CI 3-108-426
CIVIL STATUS : Married to Leo Watemberg Kovalski
BUSINESS
HISTORY
Subject was established pursuant to Public Deed No
2901 on April 22nd, 1977.
CARLOS AROSEMENA ARIAS and JOSE ANGEL NORIEGA PEREZ
signed this deed.
They are related to the following companies:
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
RELATION |
|
CASA OSAKA MULTIPLAZA S.A. |
PANAMA |
Related |
|
CASA OSAKA PANAMA S.A. |
PANAMA |
Related |
|
CASA OSAKA S.A. |
PANAMA |
Related |
BUSINESS
MAIN
ACTIVITY .-
Import and export of textile products (tablecloth,
sheets and bedspreads, towels) and kitchen accessories.
Trademarks: BREVILE, CASSERINA, ARCOSTEEL.
IMPORT : Yes
(From
Spain, USA, India, China and Australia)
EXPORT : Yes
(To
Colombia, Venezuela, Ecuador and Central America)
|
%
CASH SALES/METHOD |
:
|
20% |
|
%
CREDIT SALES/TERMS |
:
|
80% |
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%FOREIGN SALES (COUNTRIES) |
:
|
N/A |
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%
DOMESTIC PURCHASES |
:
|
N/A |
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%
FOREIGN PURCHASES |
:
|
100% |
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SELLING
TERRITORY |
:
|
Domestic and foreign market |
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EMPLOYEES |
:
|
50 |
LOCATION
.-
|
Premises |
:
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Rented |
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Monthly
Amount |
:
|
N/A |
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Time
Occupied |
:
|
N/A |
|
Area |
:
|
N/A |
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Floors |
:
|
N/A |
Remarks and other Premises .-
Main address belongs to registered, administrative,
commercial domicile, warehouses.
No branches were found.
FINANCIAL
INFORMATION
|
Interviewee(s) |
:
|
Sra, Zenobia Anaya De Armas |
|
Position(s) |
:
|
Comptroller |
|
Cooperation |
:
|
TOTAL (Full information and
figures). |
|
Information
Provided |
:
|
Mrs. Anaya kindly provided
general information of the company and main figures of the Annual Balance
Sheet closed as of December 31st, 2010,close of the fiscal year, expressed in
Dollars. We have turned to third
sources, public and databases to obtain information included in this Report. |
BALANCE
SHEET
|
BALANCE
SHEET DATE |
31DEC2010 |
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|
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PERIOD |
12
months |
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|
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EXCHANGE RATE PER US$ |
1.00 |
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|
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CURRENCY |
US$
Dollars |
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ASSETS |
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TOTAL
CURRENT |
7,629,000.00 |
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FIXED |
5,021,000.00 |
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TOTAL
ASSETS |
12,650,000.00 |
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LIABILITIES |
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TOTAL
CURRENT |
6,448,000.00 |
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LONG TERM |
2,202,000.00 |
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SHAREHOLDERS' EQUITY |
|
|
|
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TOTAL EQUITY |
4,000,000.00 |
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|
|
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TOTAL LIABILITIES |
12,650,000.00 |
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|
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SALES |
6,927,000.00 |
|
|
|
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PROFIT(LOSS) |
97,000.00 |
|
|
|
RATIO
|
LIQUIDITY RATIO |
1.18 |
(Current Assets/Current
Liabilities) |
|
DEBT-TO-EQUITY RATIO |
62.03 |
(Shareholders's
equity/Current Liabilities %) |
|
PROFITABILITY MARGIN |
1.40 |
(Profits/Sales %) |
|
WORKING CAPITAL |
1,181,000.00 |
(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.
PROPERTY
OF THE COMPANY .-
The company has: 1 building and 2 storehouses, 2
trucks and 2 buses.
INSURANCE
.-
|
Company |
Againts |
Amount |
Expiration |
|
Assicurazioni Generali S.p.A |
All risk |
Not specified |
N/A |
PAYMENTS
RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms(days) |
Perfomance? |
Time |
Products/Services |
|
Fursys S.A. |
PANAMA |
(507) 2637131 |
Open |
US$ 5,000-6,000 |
check 30 days |
Prompt |
2001 |
Office furniture |
|
DHL Panamá |
PANAMA |
(507) 2908900 |
Not specified |
US$ 1,000.= |
check 30 days |
Prompt |
2008 |
Courier services |
|
Eternity International
Freight Forwarder Panam |
PANAMA |
(507) 4303960 |
N/A |
Not specified |
cash |
No experience |
2009 |
Sea transport services |
NOTE: Other Suppliers did not
provide information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
OD. Panamá |
PANAMA |
(507) 2710071 |
|
Tak Fat |
CHINA |
N/A |
|
Qingdao Tinda Clothes |
CHINA |
N/A |
|
Yujinxiang Textile Co. Ltd. |
CHINA |
N/A |
|
Maersk Sealand |
PANAMA |
(507) 4338800 |
CREDIT HISTORY .-
Subject is operating with credit facilities under
different conditions, which it meet in due time, deserving good opinion. Long
standing client, no protested instruments were found.
LAWSUITS .-
No inhibitions, demands,
bankruptcies, auctions, forfeiture of accounts, delinquent operations under the
Corporation name were reported.
BANKING
INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
CAPITAL BANK |
Juan Carlos Aizpuria |
(507) 2097000 |
N/A |
N/A |
N/A |
|
GLOBAL BANK |
Osvaldo Borrel |
(507) 4330804 |
N/A |
N/A |
N/A |
|
GENERAL |
José Manuel Grimaldo |
(507) 4311130 |
N/A |
N/A |
N/A |
Subject carries out its financial operation through
the above-mentioned banks which refused to provide references under the Bank
Secrecy Act, which allows them to reserve all information on their clients.
GENERAL
INFORMATION
REPUTATION
.-
NOTHING
AGAINST COMPANY
CREDIT
OPINION
Requested
Credit : MAXIMUM
Suggested
Credit : US$130,000.=
NOTE: The Opinion given is confidential referential
and with out liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.69 |
|
UK Pound |
1 |
Rs.75.29 |
|
Euro |
1 |
Rs.65.77 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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.