MIRA INFORM REPORT

 

 

Report Date :

03.12.2011

 

IDENTIFICATION DETAILS

 

Name :

PANGAEA DE ORO, INCORPORATED

 

 

Registered Office :

28 Manga Road, Brgy. Kaunlaran, Aurora Boulevard, Cubao 1109, Quezon City

 

 

Country :

Philippines

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

23.06.2008

 

 

Com. Reg. No.:

CS200809514

 

 

Legal Form :

Corporation

 

 

Line of Business :

Import, export, wholesale of foods, drugs, cosmetics and household remedies and medical device.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

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 :

USD 1,000

Status :

Small Company

Payment Behaviour :

No Complaints

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Philippines

B1

B1 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


Company Details

 

Company Name:

PANGAEA DE ORO, INCORPORATED

Supplied Name:

Pangaea DE Oro

Trading Address:

28 Manga Road, Brgy. Kaunlaran, Aurora Boulevard, Cubao 1109, Quezon City, Philippines

Supplied Address:

Incorporated No. 28, Nanga Road, Barangay, Kaunlaran Cubaa Quezon, City 1109, Philippines

Telephone Number:

+632 721-7294

Fax Number:

+632 703-8010

Note:

The subject’s complete exact name and address are shown as above.

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 1,000

Credit Opinion:

Co-operation is not declined.In view of big amount of transaction, securities are recommended.

 

Company Identification Details

 

Registered Number:

CS200809514

Legal Form:

Corporation

Date Incorporated:

2008-6-23

Authorized Capital Stock:

PHP 4,000,000 (USD 92,160)

(As of 2011.12, 1 PHP = 0.02304 USD)

Subscribed Capital Stock:

PHP 2,000,000 (USD 46,080)

Paid-up Capital:

PHP 2,000,000 (USD 46,080)

Par Value Per Share:

PHP 10

Listed at Stock Exchange:

No

Staff:

N/A

Note:

Amounts in Philippine Peso unless otherwise specified.

Information on staff is not available from the subject or other source.

 

History

 

Company Background

 

 

Corporation

 

Verification with the local registry revealed the following correct registration details as of (November 29, 2011).

 

Regulatory Agency

Date Registered

Registration No.

Term

Securities and Exchange Commission

06/23/2008

CS200809514

50 years

 

 

As of 03/30/2011  

 

Common

Authorized capital stock

4,000,000

Subscribed capital stock

2,000,000

Paid-up capital

2,000,000

Par value per share

10

 

 

Shareholders

 

Stockholders (03/30/2011):

Name:

Amount Subscribed & Paid-up:

CHUA, JUAN JOSE L.

20,000

DY, NATALIE A.

900,000

ESTEBAN, EDGAR VICTOR G.

200,000

STA. CRUZ, CHRISTOPHER C.

100,000

UY, BRIAN BRANSTON

780,000

 

Management Information

 

Management (03/30/2011):

Name:

Position:

ESTEBAN, EDGAR VICTOR G.

Chairman / President

UY, BRIAN BRANSTON

Vice President / Chief Finance Officer / Corporate Secretary / Director

DY, NATALIE A.

Assistant Vice President / Director

STA. CRUZ, CHRISTOPHER C.

Assistant Vice President / Director

CHUA, JUAN JOSE L.

Assistant Corporate Secretary / Director

 

Operation

 

Activities

Import, export, wholesale of foods, drugs, cosmetics and household remedies and medical device.

 

 

Balance Sheet

 

Unit: PHP

Balance Sheet

2010.12.31

2009.12.31

TotalCurrentAssets

1,773,481.00

1,552,187.00

Cash

228,870.00

542,458.00

ShortInvest

0.00

0.00

Receivable

370,082.00

362,482.00

Inventory

1,152,186.00

620,354.00

OtherCurrentAssets

22,343.00

26,893.00

LongInvestTotal

0.00

0.00

LongInvestSecurity

0.00

0.00

LongInvestEquity

0.00

0.00

LongInvestOther

0.00

0.00

FixedAssetsTotal

31,829.00

35,807.00

FixedAssets

39,786.00

39,786.00

DepreciationTotal

7,957.00

3,979.00

IntangibleAssets

0.00

0.00

OtherAssets

0.00

0.00

TotalAssets

1,805,310.00

1,587,994.00

TotalCurrentDebt

186,746.00

4,336.00

ShortLoan

0.00

0.00

AccountsPayable

186,746.00

4,336.00

OtherCurrentLiability

0.00

0.00

LongLiabilityTotal

0.00

0.00

LongLeases

0.00

0.00

LongLoan

0.00

0.00

LongLoanOther

0.00

0.00

TotalLiability

186,746.00

4,336.00

TotalEquity

1,618,564.00

1,583,658.00

TotalEquity (USD)

37,291.71

36,487.48

ShareCapital

2,000,000.00

2,000,000.00

CapitalPaid

0.00

0.00

LegalReserve

0.00

0.00

SurplusReserve

0.00

0.00

UndistributedProfit

0.00

0.00

RetainedEarning

-381,436.00

-416,342.00

OtherEquity

0.00

0.00

TotalLiabilityAndEquity

1,805,310.00

1,587,994.00

TotalLiabilityAndEquity (USD)

41,594.34

36,587.38

(As of 2011.12, 1 PHP = 0.02304 USD)

 

Profit/ Loss Accounts

 

Unit: PHP

 

2010

2009

OperatingRevenue

0.00

0.00

SalesRevenue

2,708,682.00

1,278,044.00

SalesRevenue (USD)

62,408.03

29,446.13

InterestRevenue

0.00

0.00

OtherRevenue

0.00

0.00

TotalRevenue

2,708,682.00

1,278,044.00

SalesCost

2,097,332.00

1,009,275.00

GrossProfit

611,350.00

268,769.00

SalesExpenses

0.00

0.00

ManagementExpenses

561,484.00

447,178.00

FinancialExpenses

0.00

0.00

TotalExpenses

2,658,816.00

1,456,453.00

OperatingProfit

49,866.00

-178,409.00

NonOperatingProfit

0.00

0.00

ProfitBeforeTax

49,866.00

-178,409.00

Tax

14,960.00

0.00

NetProfit

34,906.00

-178,409.00

NetProfit (USD)

804.23

-4,110.54

(As of 2011.12, 1 PHP = 0.02304 USD)

 

Financial Flow

 

Unit: PHP

 

2010

2009

OperatingNetCash

-313,587.00

-827,344.00

 

 

Bankers

 

No dealings based on credit exposure report with one million and above dealings as of June 30, 2011.

 

 

Public

 

No negative records (court cases, credit cards cancelled and delinquent accounts) found under the name “PANGAEA DE ORO, INCORPORATED” in our available database as of November 29, 2011.

 

 

Special Note

 

Above information were based on the subject’s 2011 General Information Sheet, the latest available at the Securities and Exchange Commission and our available databases.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.35

UK Pound

1

Rs.80.50

Euro

1

Rs.69.14

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.