MIRA INFORM REPORT

 

 

Report Date :

20.01.2011

 

IDENTIFICATION DETAILS

 

Name :

CENTRO TEXTIL INTERNACIONAL ZONA LIBRE S.A.

 

 

Registered Office :

Calle 15 y C, Edificio Dismered, Zona libre de Colón Zona libre de Colón

 

 

Country :

Panama

 

 

Year of Established :

1989

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Import and commercialization of fabrics in general for women's, men's and children's clothing.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$500,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Panama

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Identification

 

CORRECT COMPANY NAME

:

CENTRO TEXTIL INTERNACIONAL ZONA LIBRE S.A.

TRADE NAME

:

"CENTEX"

TAXPAYER REGISTRATION

:

RUC 25680-2-219880

MAIN ADDRESS

:

Calle 15 y C, Edificio Dismered, Zona libre de Colón

CITY

:

Zona libre de Colón

DEPARTMENT/STATE

:

N/A

COUNTRY

:

PANAMA

TELEPHONE

:

4410139   / 4416749

FAX

:

4412821

WEB SITE

:

N/A

 

 

SUMMARY

 

INCORPORATION                     : 1989

LAST CAPITAL                        : Not specified

SHAREHOLDERS ' EQUITY      : Not specified

SALES                                     : 0.00

BUSINESS TREND                    : Stable, unchanged

EMPLOYEES                           : 30

PAYMENTS                              : Usually to terms/good

CHIEF EXECUTIVE                   : SEGEBRE SEGEBRE, ALBERTO

Disposition                               : (They) refused to give information (only confirmed some data).

 

 

Legal backgrounds

 

LEGAL ESTATUS

:

Joint-Stock Company

DATE OF INCORPORATION

:

10MAR1999

START OF OPERATIONS

:

N/A

REGISTERED IN

:

Panama

NOTARY OFFICE

:

N/A

DURATION

:

Perpetual

REGISTRATION

:

Card 219880, Volume 196, Entry 3120 (10/03/1999)

INITIAL CAPITAL

:

US$10,000.= Dollars

CURRENT PAID-IN CAPITAL

:

Not specified

LAST CAPITAL INCREASE

:

N/A

SHAREHOLDERS' EQUITY

:

Not specified

TYPE OF SHARES

:

Registered

LISTED AT STOCK EXCHANGE

:

No

SHARE VALUE

:

N/A

CURRENT EXCHANGE RATE

:

B/.1.= per US$1.= Dollar

MEMBERSHIP

:

N/A

 

 

COMMENTS .-

Information on subject's shareholding structure was not specified.

 

History

 

Subject was incorporated on 10/03/1999 by Notarial Act No.2432.

Its articles of incorporation were signed by Emil Nimer Nimer and Henry Mitry Massu Massu.

 

By Document, dated 25/06/2005, before the First Notary Office of Panama Circuit, subject took over by merger the company CENTRO TEXTIL S.A., which was dissolved without going through a liquidation process. This act was registered in the Registry of Companies under No.811378 (11/07/2005).

 

 

Directors / executives / shareholders

 

FULL NAMES / COMPANY NAME

TITLE

OWNERSHIP %

SEGEBRE SEGEBRE, ALBERTO

President

Shareholder

SEGEBRE ATALA, JERRY

Vice President

Shareholder

ATALA DE SEGEBRE, NAILA TUMA

Treasurer

 

SEGEBRE ATALA, NICOLAS ELIAS

Board Member/Adm. Manager

 

 

 

Who is who ?

 

SEGEBRE ATALA, JERRY

NATIONALITY                           : Panamanian

BORN                                       : 1974

 

 

Business

 

MAIN ACTIVITY .-

Subject is engaged in import and commercialization of fabrics in general for women's, men's and children's clothing.

 

IMPORT            : Yes

                        (From India, China, Malaysia)

EXPORT           : Yes

                        (To countries in Central and South America, the Caribbean)

 

% CASH SALES/METHOD

:

N/A

% CREDIT SALES/TERMS

:

N/A

% FOREIGN SALES (COUNTRIES)

:

N/A

% DOMESTIC PURCHASES

:

*

% FOREIGN PURCHASES

:

Information on subject's shareholding structure was not specified.

SELLING TERRITORY

:

Domestic and international market

EMPLOYEES

:

30

 

 

LOCATION .-

Premises

:

Rented

Monthly Amount

:

N/A

Time Occupied

:

N/A

Area

:

500 m2

Floors

:

2

Equipment

:

N/A

Condition

:

N/A

Use

:

Registered office, administrative and commercial offices, warehouses

 

 

Financial information

 

Interviewee(s)

:

Jerry Segebre

Position(s)

:

Vice President

Cooperation

:

(They) refused to give information (only confirmed some data).

Information Provided

:

He provided this company's operating information, except figures under confidentiality policies.

 

FINANCIAL SITUATION             :           Active

This company's Financial Situation is deemed to be Undetermined because it was not found any financial information to assess its results.

 

However, it should be emphasized that subject is a company that has operated for many years and is given good references by its local suppliers.

 

INSURANCE .-

It was not obtained any information on insurances.

 

 

Payments record

 

TRADE REFERENCES .-

 

Supplier

Country

Tel.

Line of Credit

Monthly Average

Terms

(days)

Perfomance?

Time

Products/Services

DHL PANAMA

PANAMA

507 2713451

 Open

US$ 800/2,200.=

30 days

Prompt

2007

Courier services

RELIANCE S.A./

PANAMA

507 4311409

 Open

US$ 500/1,000,000.=

30 days

Prompt

2002

Textiles

servicio interntional de carga

PANAMA

4318424

 Open

US$ 1/2,000.=

30 days

Prompt

2008

Cargo services

 

 

NOTE: Other Suppliers did not provide information or could not be consulted.

 

Supplier

Country

Tel.

GLORY PRODUCTS/

PANAMA

507 4411600

 

 

Banking information 

 

BANKERS .-

Bank

Contact

Telephone

Account #

DC (S/.)

FC (US$)

BANCO GENERAL, S.A.

N/A

N/A

N/A

N/A

N/A

BAN CAFE

N/A

N/A

N/A

N/A

N/A

 

Subject carries out its financial operations through the above-mentioned entities which did not provide any references under bank secrecy.

 

 

Credit opinion

 

Subject is eligible to be granted a credit limit of US$500,000.=

NOTE: The Opinion given is confidential referential and with out liability

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.38

UK Pound

1

Rs.72.71

Euro

1

Rs.61.15

 

 

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.