|
Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
D.H. ENTERPRISE S.A. |
|
|
|
|
Registered Office : |
Entre Calle 15 y Calle 16, Paseo Gorgas, Zona Libre de Colón |
|
|
|
|
Country : |
Panama |
|
|
|
|
Date of Incorporation : |
05.09.1995 |
|
|
|
|
Legal Form : |
Joint-Stock Company |
|
|
|
|
Line of Business : |
Import and export of consumer products, taking into account the quality and added value to the product. |
|
|
|
|
No. of Employees
: |
30 |
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 : |
Moderate |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Panama |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PANAMA'S 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 |
D.H.
ENTERPRISE S.A. |
||||||||||||||||
|
TAXPAYER REGISTRATION |
RUC 4716933306208 |
||||||||||||||||
|
MAIN ADDRESS |
Entre Calle 15 y Calle 16, Paseo Gorgas, Zona Libre de Colón, |
||||||||||||||||
|
PROVINCE / DEPARTAMENT |
Panamá / Panamá |
||||||||||||||||
|
COUNTRY |
PANAMA |
||||||||||||||||
|
TELEPHONE |
(507) 4471478 - 4410332 -
4410147 - 4472341 |
||||||||||||||||
|
E-MAIL |
trafico@dhpanama.com |
||||||||||||||||
|
WEB |
www.dhpanama.com |
||||||||||||||||
|
COMMENTS |
We clarify that the correct legal name is shown above in the report.POBox 0302 Panama |
||||||||||||||||
|
SUMMARY
|
|||||||||||||||||
|
|||||||||||||||||
|
|
|||||||||||||||||
|
|
|
|
LEGAL STATUS |
Joint-Stock Company |
|
DATE OF INCORPORATION |
05SEP1995 |
|
PLACE OF REGISTRY |
Colón |
|
NOTARY OFFICE |
2nd. of Circuit |
|
DURATION |
Perpetual |
|
REGISTRATION |
Index Card 306208 of P.R.C. |
|
INITIAL CAPITAL |
US$1,000,000.= Dollars |
|
CURRENT PAID-IN CAPITAL |
US$1,000,000.= Dollars |
|
LAST CAPITAL INCREASE |
No increase reported. |
|
CLASS OF SHARES |
Registered. |
|
LISTED AT STOCK EXCHANGE |
No |
|
SHARE VALUE |
US$10,000.= Dollars |
|
CURRENT EXCHANGE RATE (US$) |
B/.1.= per 1.00 USADollar |
|
COMMENTS |
Company established in 1991 with a capital of 20,000. = (U.S. dollars), during the years 1995 - 1998, already had an extensive client list. Over time has gained experience in credit lines with more control in its dealings.The legal representation of the company is exercised by the President or in his absence by the Vice President, in the absence of latter by the Secretary and in his absence, the Board shall appoint the person who will assume that position. |
|
|
||||
|
|
|
|||
|
FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
|
|
NOTANDAS
SACHDEV, GALLOMAL |
President and C.E.O. |
|
|
|
|
NOTANDAS SACHDEV, GANGARAM |
Vice President |
|
|
|
|
NOTANDAS SACHDEV, SARASWATI |
Treasurer |
|
|
|
|
NOTANDAS SACHDEV, DAMODAR |
Secretary |
|
|
|
|
|
|
Signed the articles of incorporation:- NATANDAS SACHDEV SACHDEV- DAMODAR SACHDEV SACHDEV |
|
|
|
||||
|
|
|
|||
|
COMPANY NAME |
COUNTRY |
TAX REG. |
RELATION % |
|
|
KRISHNA EXPORT (PANAMA) S.A. |
PANAMA |
12452201592011 |
Related |
|
|
BUSINESS |
|||||
|
SIC Classification |
|||||
|
Main activity |
Import and export of consumer products, taking into account the quality and added value to the product.Among the products they sell include: Baby items, stainless steel, electronics, appliances, lamps, energy saving bulbs, fans and spares, dominos, antennas for cars, basic toys, walls clocks, glue "Super Glue Anchor".Brands: ANCHOR, MI VIDA, ZEBRA PARAGUAS, CASABLANCA, CAMLIN, among others. |
||||
|
Import |
Yes |
||||
|
Country |
China,
India, Indonesia, Taiwan. |
||||
|
Export |
Yes |
||||
|
COUNTRY |
Guatemala,
USA. |
||||
|
% CASH SALES / METHOD |
40% |
||||
|
% Credit SALES / Terms |
60%
terms: 30,45 days |
||||
|
% Ventas exterior (Paises) |
50% |
||||
|
% DOMESTIC PURCHASES |
30% |
||||
|
% FOREIGN PURCHASES |
70% |
||||
|
SELLING TerritorY |
50%
National market. |
||||
|
EMPLOYEES |
30
approximately |
||||
|
|||||
|
|
|
|
Interviewee(s) |
Ms.. Enith
Ramos |
|
Position(s) |
Assistant Manager |
|
Disposition |
It was not possible to
interview any executive. |
|
Information provided |
Despite our repeated requests via e-mail and phone calls, we have failed to arrange a conversation with the executives responsible for this company.Given our insistence, the above mentioned person stated that will monitor our request and after getting an answer from her superiors will let us know immediately. If so immediately we will issue a supplemental report, otherwise please consider this report a definitive report.Meanwhile, we have produced this report based on data obtained through reliable external sources and official, but it was not possible to find any recent balance sheet of this company. Only we could learn that annual sales of this company are ranging from US$30,000,000.= to US$40,000,000.= Dollars. |
|
|
|
|
|
|
|
SALES |
US$
0.00 () |
|
FINANCIAL SITUATION |
NN: UNDETERMINEDSubject's Financial Position is considered UNDETERMINED, since there are no financial figures allowing a financial analysis of the results in its last fiscal year. As mentioned, we only know that their sales revenue is ranging from U.S. $ 30 million to U.S. $ 40 million dollars annually.This is a family owned company, with 30 employees and an experience of 12 years on the market.Although we have no more figures allowing a better insight into the state of their finances, we should note given their sales volume and experience and the absence of negative records, that we believe that the Subject Company is operating smoothly. |
|
Insurance Comments |
We did not have access to this information. |
|
(Confidential Information) |
|
|
TRADE REFERENCES |
|
|
CREDIT
HISTORY Despite our searches, we were not able to find information about the company's suppliers. |
|
|
BANKERS Banking is with:BANCO PANAMAIt should be mentioned banks in Panama are ruled by the Bank Secrecy Act. Hence, we were unable to obtain account information of this company from the above bank. |
|
|
|
|
|
REPUTATION |
|
|
NOTHING AGAINST COMPANY |
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
|
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.