|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CINNABAR NETWORK ASSETS INC. |
|
|
|
|
Registered Office : |
MMG Tower, Piso 16, Calle
53 E, Marbella |
|
|
|
|
Country : |
Panama |
|
|
|
|
Date of Incorporation : |
05.03.2007 |
|
|
|
|
Com. Reg. No.: |
File 558358, Vol 2007, Entry 38038
(08/03/07) |
|
|
|
|
Legal Form : |
Offshore Company |
|
|
|
|
Line of Business : |
Subject has been created to carry out in Panama or in any other country,
colony or foreign lands, business activities related to: purchase, sell,
transfer, dispose, negotiate, finance, exchange, possess, manage, grant or
request loans, give or take commissions, mortgage, pledge lease, use,
enjoyment, or antichresis any kind of property
whether they are real estate, chattels, shares or rights and to enter into
contracts, and carry out all actions, commercial operations and transactions
by virtue of Law |
|
|
|
|
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 |
|
Status : |
Offshore Company |
|
Payment Behaviour : |
Unknown |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Panama |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
panama - ECONOMIC OVERVIEW
Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is scheduled to be completed by 2014 at a cost of $5.3 billion - about 10% of current GDP. The expansion project will more than double the Canal''s capacity, enabling it to accommodate ships that are too large to traverse the existing canal. The United States and China are the top users of the Canal. Panama also plans to construct a metro system in Panama City, valued at $1.2 billion and scheduled to be completed by 2014. Panama''s booming transportation and logistics services sectors, along with aggressive infrastructure development projects, have lead the economy to continued growth in 2011. Strong economic performance has not translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America. About 30% of the population lives in poverty; however, from 2006 to 2010 poverty was reduced by 10 percentage points, while unemployment dropped from 12% to less than 3% of the labor force in 2011. A US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011. Seeking removal from the Organization of Economic Development''s gray-list of tax havens, Panama has also recently signed various double taxation treaties with other nations.
|
Source : CIA |
|
CORRECT COMPANY NAME |
CINNABAR NETWORK
ASSETS INC. |
|
TAXPAYER REGISTRATION |
RUC 10957331558358 |
|
MAIN ADDRESS |
MMG Tower, Piso
16, Calle 53 E, Marbella |
|
PROVINCE / DEPARTAMENT |
Panamá |
|
STATE / REGION |
Panamá |
|
COUNTRY |
PANAMA |
|
TELEPHONE |
(507) 2657777 |
|
COMMENTS |
Be advised both the above address and
telephone numbers belong to the offices of the Registered Agent. This is an Offshore Company, duly
registered in the country but does not carry out operations in Panama. Former Registered Agent was QUIJANO Y
ASOCIADOS, domiciled at Edificio Salduba, Piso 3, Calle 53 Este, Urbanización Marbella. Tel.
(507) 269-2641 The information this report contains was
obtained from third-party sources and official. |
|
Date of foundation |
2007 |
|
Capital stock |
US$10,000.= Dollars |
|
permanent employees |
No specified |
|
Chief Executive |
DE SANCHEZ, RUTH GIANNINA |
|
Disposition |
Report totally prepared by outside
sources. |
|
Payments policy |
Without rating (No payment experience
traced) |
|
LEGAL STATUS |
Offshore Company |
|
DATE OF INCORPORATION |
05MAR2007 |
|
PLACE OF REGISTRY |
Panama |
|
NOTARY OFFICE |
4th of the Circuit |
|
DURATION |
Perpetual |
|
REGISTRATION |
File 558358, Vol
2007, Entry 38038 (08/03/07) |
|
INITIAL CAPITAL |
US$.10,000.= Dollars |
|
CURRENT PAID-IN CAPITAL |
US$10,000.= Dollars |
|
LAST CAPITAL INCREASE |
No increase reported |
|
CLASS OF SHARES |
Common |
|
LISTED AT STOCK EXCHANGE |
No |
|
SHARE VALUE |
US$100.= Dollars |
|
CURRENT EXCHANGE RATE (US$) |
B/.1.00 per USD.1.00 |
|
COMMENTS |
The authorized share capital amounts to
ten thousand dollars, divided into one hundred common shares, with a value
equal to one hundred dollars each one, to the bearer or registered, changeable
each other at shareholder's decision. The President acts as Legal Representative
or any other member designated by the Board of Directors. Found no information about the
shareholders. There was not historical concerning the
starting of activities of the Company. No information was available either about
the Parent Company and/or the related companies. |
|
|
|
MORGAN &
MORGAN |
|
|
NATIONALITY |
Panamanian |
|
DOMICILE |
Calle 53 Este, Marbella Torre M&M Group (antes Swis
Bank), Piso 16, Panamá |
|
TELEPHONE |
2657777 |
|
BACKGROUND INFORMATION |
Fax: 2657700/2639918. E-mail: info@morimor.com
P.O. Box 0832-00232 WTC,1824 Zona 1 It was previously located at Vía España y Calle Colombia, Edificio Republica, Piso 15. Law Firm operating as Registered Agent of
several companies incorporated in Panama with overseas operations. |
ASSOCIATED AS PER
OUR DATABASE TO
|
COMPANY |
TITLE |
TAX REG |
COUNTRY |
|
BORGARO S.A. |
Registered Agent |
19154301725163 |
PANAMA |
|
MORGAN & MORGAN |
Registered Agent |
|
PANAMA |
|
SYSTEM TECHNOLOGY AND DEVELOPMENT INC. |
Registered Agent |
200042181922 |
PANAMA |
|
WATZMANN STIFTUNG |
Registered Agent |
27194215486 |
PANAMA |
|
LONTEL TRADING S.A. |
Registered Agent |
2824881407595 |
PANAMA |
|
PZ NOMINEES II S.A. |
Registered Agent |
|
PANAMA |
|
CHEF WORKS INTERNATIONAL LTD. |
Registered Agent |
|
PANAMA |
|
VALTEN REAL ESTATE, S.A. |
Registered Agent |
1757461391043 |
PANAMA |
|
DUXDI GROUP FINANCE S.A. |
Registered Agent |
12228061586804 |
PANAMA |
|
OCEAN ELEVEN TRADING S.A. |
Registered Agent |
18389751711677 |
PANAMA |
|
SHLOPHILI S.A. |
Registered Agent |
10935171557768DV66 |
PANAMA |
|
CLIPPER BUNKERING SERVICES S.A. |
Registered Agent |
11964971581146 |
PANAMA |
|
SUBORAM SHIPPING S.A. |
Registered Agent |
9752671530721 |
PANAMA |
|
STARLET SHIPPING NAVIGATION S.A. |
Registered Agent |
2213441398498 |
PANAMA |
|
PROGRESS ENTERPRISES S.A. |
Registered Agent |
1918130175248 |
PANAMA |
|
APPLIANCES INTERNATIONAL TRADING INC. |
Registered Agent |
6753751463468 |
PANAMA |
|
VALUTRADE BUSINESS CORPORATION |
Registered Agent |
2109520190008 |
PANAMA |
|
GLORIOUS ASIA S.A. |
Registered Agent |
61835072785 |
PANAMA |
|
LWM HOLDINGS I CORP. |
Registered Agent |
7731001485874 |
PANAMA |
|
TRANSFIELD SHIPPING INC. |
Registered Agent |
26866128226034 |
PANAMA |
|
TOURMALINE DEVELOPMENT CORP. |
Registered Agent |
1490951385564 |
PANAMA |
|
SELINTAR FINANCE S.A. |
Registered Agent |
4916014313905 |
PANAMA |
|
LAKKI ENTERPRISES CORP. |
Registered Agent |
10191321540053 |
PANAMA |
|
MERCOFEED INTERNATIONAL INC. |
Registered Agent |
751097479305 |
PANAMA |
|
HUNTINTONG COMMERCIAL CORP. |
Registered Agent |
8938571513415 |
PANAMA |
|
GRUPO BM INC. |
Registered Agent |
356829260909 |
PANAMA |
|
GLOBAL FUELS AND LUBRICANTS INC. |
Registered Agent |
41294100283090 |
PANAMA |
|
DANUSTO MANAGEMENT S.A. |
Registered Agent |
6430271458421 |
PANAMA |
|
POS MARITIME SZ S.A. |
Registered Agent |
18214211708980 |
PANAMA |
|
WINDSTOR HOLDING INC. |
Registered Agent |
6544337361226 |
PANAMA |
|
SANDHILL MARITIME S.A. |
Registered Agent |
5691531446288 |
PANAMA |
|
FISTAN TRADING S.A. |
Registered Agent |
18932791721348 |
PANAMA |
|
EURO-AMERICA TOUROPERADOR INC. |
Registered Agent |
8447211504198 |
PANAMA |
|
POS MARITIME TY S.A. |
Registered Agent |
16752091680647 |
PANAMA |
|
PANAMERICANA DE LIBROS DE MEDINA S.A. |
|
1421733584 |
PANAMA |
|
KANTON GROUP INC. |
Registered Agent |
16173111669544 |
PANAMA |
|
HYUTECH S.A. |
Registered Agent |
11991771581632 |
PANAMA |
|
POLINDUSTRY S.A. |
Registered Agent |
44980102298079 |
PANAMA |
|
MONTE DEVELOPMENT CORP. |
Registered Agent |
183712173645 |
PANAMA |
|
TRI-STAR PRODUCE INC. |
Registered Agent |
3912311423012 |
PANAMA |
|
TOTALCHEM TRADING S.A. |
Registered Agent |
9134481517610 |
PANAMA |
|
ALIFOODS INTERNATIONAL S.A. |
Registered Agent |
17640041698803 |
PANAMA |
|
INVESCO MARINE UNIVERSAL S.A. |
Registered Agent |
15778691661978 |
PANAMA |
|
KRYPTON NAVIGATION S.A. |
Registered Agent |
242451367312 |
PANAMA |
|
BURGAN ENTERPRISES S.A. |
Registered Agent |
9280851520968 |
PANAMA |
|
PATERSON HOLDING S.A. |
Registered Agent |
12423961591487 |
PANAMA |
|
INTERNATIONAL BEVERAGES INC. |
Registered Agent |
8533341505836 |
PANAMA |
|
WAREPINO PROPERTIES INC. |
Registered Agent |
2890581408487 |
PANAMA |
|
ROSETTA INTERNATIONAL S.A. |
Registered Agent |
17940209167986 |
PANAMA |
|
MARITIMA DEL NORTE CORP. |
Registered Agent |
2286714204096 |
PANAMA |
|
GBM COMMUNICATIONS S.A. |
Registered Agent |
351362258980 |
PANAMA |
|
DALSTON ASSOCIATED S.A. |
Registered Agent |
3685975265143 |
PANAMA |
|
CHERRY WOOD INTERNATIONAL CORPORATION |
Registered Agent |
4519253299037 |
PANAMA |
|
BALUCO S.A. |
Registered Agent |
2030291395637 |
PANAMA |
|
GARDEY TRADING CORP. |
Registered Agent |
6457050358372 |
PANAMA |
|
STEEL AND METAL RESOURCES S.A. |
Registered Agent |
1088351379728 |
PANAMA |
|
FOREMARK RESOURCES INC |
Registered Agent |
6729931463048 |
PANAMA |
|
GRUPO MIRAMAR INTERNACIONAL S.A. |
Registered Agent |
4579601432527 |
PANAMA |
|
ENGINEERING AND TRADING AGENCY INC. |
Registered Agent |
70452127853731 |
PANAMA |
|
REGENT INVESTMENTS ASSOCIATES INC. |
Registered Agent |
2315731400076 |
PANAMA |
|
INIREX AG S.A. |
Registered Agent |
5310864326757 |
PANAMA |
|
WEALTH LINE INC. |
Registered Agent |
17998121168404 |
PANAMA |
|
PANA-GLOBAL TRADING S.A. |
Registered Agent |
367111653240 |
PANAMA |
|
DUKENELL INC. |
Registered Agent |
46453106303742 |
PANAMA |
|
BRUNO AZUL S.A. |
Registered Agent |
4105111425842 |
PANAMA |
|
PEACHWOOD INVEST & TRADE S.A. |
Registered Agent |
44784147297224 |
PANAMA |
|
AURORA CAR MARITIME TRANSPORT S.A. |
Registered Agent |
3733759267037 |
PANAMA |
|
DEGAS ASSOCIATED INC. |
Registered Agent |
1191812118974 |
PANAMA |
|
HENRY ISLANDS CORP. |
Registered Agent |
33261107251099 |
PANAMA |
|
DULCEFLOR UNITED CORP. |
Registered Agent |
6118261453206 |
PANAMA |
|
SURELIS MANAGEMENT CORP. |
Registered Agent |
10196221540124 |
PANAMA |
|
FINIMPEX ENTERPRISES S.A. |
Registered Agent |
5495631443112 |
PANAMA |
|
PADDINGTON ASSOCIATED S.A. |
Registered Agent |
6171461454058 |
PANAMA |
|
DSA FOODS AND BEVERAGES S.A. |
Registered Agent |
5924631450289 |
PANAMA |
|
DOLVENON TRADING INC. |
Registered Agent |
560741371913 |
PANAMA |
|
AUSCA INC. |
Registered Agent |
|
PANAMA |
|
AVOR INVESTMENT COMPANY INC. |
Registered Agent |
82419917894 |
PANAMA |
|
SHIREMOOR INTERNATIONAL LTD INC S.A. |
Registered Agent |
8713861509242 |
PANAMA |
|
NAPOIL SERVICES S.A. |
Registered Agent |
|
ECUADOR |
|
ISLA QUESITO REAL ESTATE DEVELOPMENT S.A. |
Registered Agent |
10478821546840 |
PANAMA |
|
BCB ENTERPRISES INC. |
Registered Agent |
8484441504905 |
PANAMA |
|
DORGERO MANAGEMENT INC |
Registered Agent |
7362941476604 |
PANAMA |
|
D.K. MARITIME S.A. |
Registered Agent |
13330611613437 |
PANAMA |
|
MARELOS INTERNACIONAL S.A. |
Registered Agent |
7261141474227 |
PANAMA |
|
VIBER MEDIA INC. |
Registered Agent |
17459971695355 |
PANAMA |
|
TRANSFER INFORMATION TECHNOLOGY
INTERNATIONAL S.A. |
Registered Agent |
7855441489533 |
PANAMA |
|
LINTERS INCORPORATED |
Registered Agent |
24088117211107 |
PANAMA |
|
VALSE HOLDING S.A. |
Registered Agent |
29015101233742 |
PANAMA |
|
SUN TECHNOLOGY S.A. |
Registered Agent |
6333439354756 |
PANAMA |
|
PROPAFINA HOLDING LIMITED INC |
Registered Agent |
228212540208 |
PANAMA |
|
AUTOMOTORA ZEPOL S.A. |
Registered Agent |
695291373805 |
PANAMA |
|
KLDS MARITIME S.A. |
Registered Agent |
12657651596634 |
PANAMA |
|
MAREA INVESTMENTS INC. |
Registered Agent |
724741374214 |
PANAMA |
|
I.M.S. MARITIME S.A. |
Registered Agent |
4918566314016 |
PANAMA |
|
WISDOM MARINE LINE S.A. |
Registered Agent |
6457079358375 |
PANAMA |
|
WIDEBELL CORPORATION |
Registered Agent |
3188534245315 |
PANAMA |
|
GUDICO S.A. |
Registered Agent |
35306276827 |
PANAMA |
|
PANGAS PROCESSING S.A. |
Registered Agent |
843211688392 |
PANAMA |
|
CARNIVAL CORPORATION |
Registered agent |
1102169117371 |
PANAMA |
|
MORGAN & MORGAN OFFSHORE CONSULTING
S.A. |
Registered Agent |
4674559304712 |
PANAMA |
|
HANES PANAMA INC. |
Registered Agent |
1656631388814 |
PANAMA |
|
BALI DOMINICANA TEXTILES S.A. |
Registered Agent |
1822051392437 |
PANAMA |
|
|
|
||||||||
|
PARTICIPATED IN |
|||||||||
|
|||||||||
|
|
|
||||||||
|
The Company was incorporated in compliance
with Notarial Act
3207 dated March 5th, 2007. Julio Antonia Quijano
Urrila and Julio Antonio Quijano
Berbey signed the Articles of Incorporation. |
|
|
Main activity |
This is an offshore Company It has been created to carry out in Panama
or in any other country, colony or foreign lands, business activities related
to: purchase, sell, transfer, dispose, negotiate, finance, exchange, possess,
manage, grant or request loans, give or take commissions, mortgage, pledge
lease, use, enjoyment, or antichresis any kind of
property whether they are real estate, chattels, shares or rights and to
enter into contracts, and carry out all actions, commercial operations and
transactions by virtue of Law. |
||||
|
Import |
No |
||||
|
Export |
No |
||||
|
EMPLOYEES |
No specified |
||||
|
|||||
|
Disposition |
Report totally prepared by outside
sources. |
|
Information provided |
We have prepared this report based on the
information we gathered from third-party sources and official records. Found no premises of the Company in the
country. The above address belongs to the Registered Agent. Based on what we investigated, no information
was obtained regarding activities carried out by the Company in the country. At the offices of the Registered Agent,
MORGAN & MORGAN we tried to get information but results were not
favorable. It is important to comment that Registered Agents are not allowed
to disclose information about their clients under strict confidentiality
agreements. Discretion is advised in case of doing
business with the Company. Since no historical records about its operations
are available, international commercial activities can neither be determined
nor guaranteed. |
|
|
|
|
|
|
|
SALES |
US$ 0.00 () |
|
FINANCIAL SITUATION |
NN: UNDETERMINED Financial situation of the Company is
indeterminate since no accounting elements were available to assess this Company
results at present. |
TRADE REFERENCES,
CREDIT BUREAU, LAWSUITS, BANKS
(Confidential Information)
|
TRADE REFERENCES |
|
|
|
|
|
CREDIT HISTORY The Company does not operate in the country, consequently, neither trade nor bank credit experience have been reported under the Company's name. |
|
|
LAWSUITS No restraints, claims, citations,
bankruptcy, auctions, disabled accounts or delinquent payments were found
against the Company. |
|
|
BANKERS It is unknown if the Company has opened
bank accounts in the country. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
|
UK Pound |
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.