|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
WORLDWIDE MARKET GENIUS, INC. |
|
|
|
|
Registered Office : |
3rd Floor, Armada Hotel, 2108 M. H. Del Pilar St. Malate, City of Manila |
|
|
|
|
Country : |
Philippines |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
13.11.2002 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject .is a supply chain partner and distributor of nutritional raw materials, ready to use market products, premix. Subject supply to the Pharmaceutical, Cosmetics, and Food
& Beverage industries in the Philippines. |
|
|
|
|
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 : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Philippines |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Philippine ECONOMIC OVERVIEW
Philippine GDP
growth, which cooled from 7.6% in 2010 to 3.9% in 2011, expanded to 6.6% in
2012 - meeting the government's targeted 6%-7% growth range. The 2012 expansion
partly reflected a rebound from depressed 2011 export and public sector
spending levels. The economy has weathered global economic and financial
downturns better than its regional peers due to minimal exposure to troubled
international securities, lower dependence on exports, relatively resilient
domestic consumption, large remittances from four- to five-million overseas
Filipino workers, and a rapidly expanding business process outsourcing
industry. The current account balance had recorded consecutive surpluses since
2003; international reserves are at record highs; the banking system is stable;
and the stock market was Asia's second best-performer in 2012. Efforts to
improve tax administration and expenditure management have helped ease the
Philippines' tight fiscal situation and reduce high debt levels. The
Philippines received several credit rating upgrades on its sovereign debt in
2012, and has had little difficulty tapping domestic and international markets
to finance its deficits. Achieving a higher growth path nevertheless remains a
pressing challenge. Economic growth in the Philippines averaged 4.5% during the
MACAPAGAL-ARROYO administration but poverty worsened during her term. Growth
has accelerated under the AQUINO government, but with limited progress thus far
in bringing down unemployment, which hovers around 7%, and improving the
quality of jobs. Underemployment is nearly 20% and more than 40% of the
employed are estimated to be working in the informal sector. The AQUINO
administration has been working to boost the budgets for education, health,
cash transfers to the poor, and other social spending programs, and is relying
on the private sector to help fund major infrastructure projects under its
Public-Private Partnership program. Long term challenges include reforming
governance and the judicial system, building infrastructure, improving
regulatory predictability, and the ease of doing business, attracting higher
levels of local and foreign investments. The Philippine Constitution and the
other laws continue to restrict foreign ownership in important
activities/sectors (such as land ownership and public utilities).
|
Source : CIA |
Company: Worldwide
Market Genius, Inc.
Address: 3308
Vito Cruz Tower, Vito Cruz St., Manila
Country: Philippines
Phone: 5222873
Fax: 5260348
We conducted research and verification on WORLDWIDE MARKET GENIUS, INC., and revealed the following, viz:
SITE INSPECTION AT NO. 3308 VITO CRUZ TOWER, VITO CRUZ ST., VITO CRUZ
ST., MANILA AND
VERIFICATION OF TELEPHONE NO. 5222873
Said address is the site of Cityland Vito Cruz Tower, Pablo Ocampo, Sr. (Vito Cruz St.), Malate, City of Manila.
Given telephone
number is assigned to a residential user. According to a reliable informant, as
per record, subject firm has no record of occupancy in said building, either as
tenant or as a unit owner.
CURRENT ADDRESS OF WORLDWIDE MARKET GENIUS, INC.
3rd Floor, Armada Hotel, 2108 M. H. Del Pilar St.
Malate, City of Manila, PHILIPPINES
Telephone No. : (632)
353-8434
Fax : (632)
521-6378
Email : info@worldwidemarketgenius.com
VERIFICATION WITH SECURITIES & EXCHANGE
COMMISSION (SEC): WORLDWIDE MARKET
GENIUS, INC.
REGISTRATION
a) Certificate No. : CS200259947
b) Date : November
13, 2002
CAPITALIZATION
Original
Amended
(Nov.
13, 2002) (April 24, 2009)
a) Authorized Capital Stock -
P5,000,000 P20,000,000
b) Amount Subscribed -
P1,312,500 P16,312,500
c) Amount Paid -
P 328,125 P15,328,425
d) Par Value -
P 100 P 100
(Per General
Information Sheet dated November 13, 2012)
|
Stockholders /
Nationality |
Position |
Residential Address |
Amount Subscription Paid |
|
Estrella
M. Dimaculangan/ Filipino |
Chair/Pres. |
11 Cucumber St., Valle Verde 5, Pasig City |
P4,379,450 |
|
Chloe
Kristine M. Dimaculangan /Filipino |
Director |
3921 Pacific Regency Tower, P. Ocampo Sr. Street, Malate,
Manila City |
P4,379,450 |
|
Alex C. Mangasi / Filipino |
Director |
18 San
Miguel St., Pacita Complex, San Pedro, Laguna. |
P2,189,875 |
|
Celso M. Dimaculangan/Filipino |
CFO |
11 Cucumber St., Valle Verde 5, Pasig City |
P2,189,875 |
|
Carl
Michael M. Dimaculangan/ Filipino |
Chief of
Staff |
11 Cucumber St., Valle Verde 5, Pasig City |
P2.189.775 |
|
|
|
|
P15,328,425 |
Import/Export, manufacturing, trading of goods, such as garments and any related goods on wholesale & retail basis.
In 2006, expanded its activity to include food and pharmaceutical ingredients.
Subject .is a supply chain partner and distributor of nutritional raw materials, ready to use market products, premix. In 2011, the company was a recipient of an Award from United Laboratories, Inc., a leading pharmaceutical company in the Philippines, a “Preferred” supplier. BASF is its main principal for Active Pharmaceutical Ingredients & Human Nutritional products.
FINANCIAL CONDITION
(Audited Financial Statement for years 2011, 2010, & 2009, compiled)
|
|
2013(PHP) |
2010(PHP) |
2009 (PHP) |
|
Assets |
|
|
|
|
Current Assets |
88,728,244 |
54,428,946 |
33,564,143 |
|
Property & Equipment, Net |
9,093,941 |
4,935,718 |
4,514,293 |
|
TOTAL ASSETS |
97,822,185 |
59,364,664 |
38,378,436 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities & Stockholder's Equity |
|
|
|
|
Current Liabilities |
49,319,311 (*) |
26,121,798 |
14,133,597 |
|
Non Current Liabilities |
13,000,000 |
5,837,599 |
2,837,559 |
|
TOTAL LIABILITIES |
62,319,311 |
31,959,357 |
16,971,156 |
|
|
|
|
|
|
TOTAL STOCKHOLDER'S EQUITY |
35,502,874 |
27,405,309 |
21,107,280 |
|
TOTAL LIABILITIES & |
97,822,185 |
59,364,664 |
38,078,436 |
|
STOCKHOLDERS EQUITY |
|
|
|
|
|
|
|
|
|
Sales |
363,265,201 |
352,346,458 |
366,581,718 |
|
Gross Income |
50,503,518 |
47,519,084 |
45,246,639 |
|
Operating & Admin. Expenses |
33,555,795 |
38,521,903 |
36,843,464 |
|
Net Income from Operation |
16,947,723 |
8,997,181 |
8,400,175 |
|
Interest Expense |
5,379,770 |
NIL |
NIL |
|
Net Income before Tax |
11,567,953 |
8,997,181 |
8,400,175 |
|
Provision for Income Tax |
3,470,386 |
2,699,154 |
2,941,111 |
|
Net Income after Tax |
8,097,567 |
6,298,027 |
5,462,064 |
|
|
|
|
|
(*) Include Loan Payable – P15,981,613.
Estrella M.
Dimaculangan
- As gathered, ESTRELLA, formerly lived in Simi Valley, California, USA.
She is the President/General Manager of CYRUS LOGISTICS, INC. Likewise,
Proprietor/Owner of ESTRELLA M. DIMACULANGAN CUSTOM’S BROKERAGE, accredited
with the Dept. of Trade & Industry.
Chloe Kristine M.
Dimaculangan –
Corporate Secretary, CYRUS LOGISTICS INC.
Celso M.
Dimaculangan –
Born in 1953, Director & VP Operation, CYRUS LOGISTICS INC.
Lived in Simi Valley, California, USA.
Carl Michael M.
Dimaculangan –
Business
Development Officer, WMGI from April, 2012 to present. A Bachelor of Arts
graduate of DeLa Salle University in international & global studies. Worked
as Administrative Staff with CENTARA RESORTS & HOTEL, from May 2011 to July
2011. Skills & expertise includes – international trade, customs service,
logistics, hotel, business development & strategic planning.
OTHER INFORMATION:
CYRUS LOGISTICS INC., is a registered corporation, SEC Registration Certificate No. 177661 dated May 20, 1990. To engage in the business of international & domestic freight and cargo forwarder by land sea or air of all classes of goods, etc. Also, authorized to engage in the business of customs brokerage, warehousing, trucking, handling, hauling, distributor, etc., and to carry all acts incidental to and usual in its type of business.
ECI DATABASE: Negative
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
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.