MIRA INFORM REPORT

 

 

Report Date :

31.01.2012

 

IDENTIFICATION DETAILS

 

Name :

PLASTICOS DEL CARIBE SA

 

 

Registered Office :

Calle D esq. E, Zona Industrial de Herrera, Santo Domingo Oeste

 

 

Country :

Dominican Republic

 

 

Date of Incorporation :

1993

 

 

Legal Form :

Compania por Acciones

 

 

Line of Business :

Manufacturing of Flexible Packages.

 

 

No. of Employees :

42

 

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 :

USD 65,000

Status :

Satisfactory

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)

Dominican Republic

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - DOMINICAN REPUBLIC

POLITICAL DATA

ECONOMIC DATA

Form of Government: Presidential Republic


Economic Risk: Low

Currency: Dominican Republic (DOP)

100(DOP)=2.59(USD)

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Plasticos Del Caribe SA

Address in the order:

Calle E Esq E Zona Industrial De La Herrera Santo Domingo Republica Dominicana

 

 

Legal Name:

PLASTICOS DEL CARIBE C POR A

 

 

Legal Address

Calle D esq. E, Zona Industrial de Herrera, Santo Domingo Oeste, Dominican Republic

 

 

Telephone:

(809) 530-0058/(809) 530-2287

RNC :

130217343

Fax:

(809) 530-2836

Legal Form:

Compania por Acciones

Email:

jorgemayol@plasticosdelcaribe.com/jorge.mayol@verizon.net.do

Registered in:

Santo Domingo, Dominican Republic

Website:

http://www.plasticosdelcaribe.com  (not working)

Date Created:

1993

Manager:

Javier Mayol Vicioso

Date Incorporated:

1993

Staff:

42

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Manufacturing of flexible packages.

 

 

BANKS

 

Name of the Bank

BANCO POPULAR DOMINICANO

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Manufacturing of flexible packages.

Sales are:

 

Wholesale

Suppliers:

 

P.M.I. TRADING LIMITED (Mexico)

Operations area:

 

National

The company imports from America, Asia.

The company export to Caribbean.

The subject employs 42 employee(s)

PAYMENTS

 

made on a 50 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

Calle D esq. E, Zona Industrial de Herrera, Santo Domingo Oeste, R.D.

Comments on location:

 

Divided in administrative offices, warehouse and production area.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is privately held.

This information is considered as confidential.

Management:

 

Javier Mayol: President

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

 

USD

2010

 

Turnover

3,600,000

 

Operating Income

117,000

 

Net Income

88,000

 

Net worth

500,000

 

Bank liabilities

180,000

 

The cash flow is

Normal

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 Final Opinion

 

The company has 19 years of experience, reporting steady activity and having shown positive development. They currently have 42 employees, for which it is considered a small size company.  

The profitability is normal, the indebtedness is controlled, the cash is also normal, and the payments are regular.

 

Based on the information analyzed, we recommend a credit line for the maximum amount of USD 65,000.

 

 

SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

CORRECT

 

 

 

 

APPENDIX

 

Comments

 

We contacted an administrative on several occasions but he refused to provide information or contact us with another person, due to confidentiality.

 

The information in this report was obtained using third sources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.50

UK Pound

1

Rs.77.73

Euro

1

Rs.65.18

 

 

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.