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Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
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Name : |
G-QUILT INC. |
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Registered Office : |
Calle 50, Santo Domingo, Edificio Torre Global Bank, Of. 3303 |
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Country : |
Panama |
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Date of Incorporation : |
01.10.2009 |
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Legal Form : |
-- |
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Line of Business : |
-- |
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No. of Employees : |
-- |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Panama |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 estimated to be completed by 2015 at a cost of $5.3 billion - about
10-15% 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 is also constructing 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 high growth in 2012.
Foreign investment, at around 10% of GDP in both 2011 and 2012, has continued
to be a source of growth. 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 2012 poverty was reduced by 10 percentage points, while unemployment
dropped from 12% to 4.4% of the labor force in 2012. The US-Panama Trade
Promotion Agreement was approved by Congress and signed into law in October
2011, and entered into force in October 2012. Panama also achieved removal from
the Organization of Economic Development''s gray-list of tax havens by signing
various double taxation treaties with other nations
Source
: CIA
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CORRECT COMPANY NAME |
G-QUILT INC. |
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TAXPAYER REGISTRATION |
RUC 16560981676648 |
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MAIN ADDRESS |
Calle 50, Santo Domingo, Edificio Torre Global Bank, Of. 3303, |
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DEPT/PROV/REGION/STATE |
Panamá / Panamá |
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COUNTRY |
PANAMA |
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TELEPHONE |
(507) 3404242 |
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COMMENTS |
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Further to your order, we should mentioned that both address and phone number given in the order belong to the company MEMORIAL INTERNATIONAL PANAMA S.A., which is engaged in provision of services of assistance, insurances, among others. Although we made a thorough search, we could not find subject's physicial location. The phone company does not have subject registered as a service subscriber. Subject does not also appear in the phone directory, business and/or commercial directories. When we communicated with the company that operates on the said facilities, i.e. MEMORIAL INTERNATIONAL PANAMA S.A., we were informed that G-QUILT INC. would be an offshore company registered in Panama and operating abroad and that it may have taken the address as tax residency, but this statement was not able to be confirmed. Through the said company, we sent a formal request letter to the representatives of G-QUILT INC. in order to arrange an interview; however, although various days have passed, we have not received any answers. It should be mentioned that during our search in official, we could only obtain some basic information on subject's incorporation and once we knew names of the board members, we tried to communicate with each of them, but we could not locate them. Therefore, information contained in this report was obtained from public sources and included as references. |
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Date of foundation |
2009 |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
(P5) Without rating (No payment experience traced) |
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Credit (**) |
UNDETERMINED RISK.(Insufficient or Non existent information). |
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Number of times that this company was required: 2 |
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NOTHING AGAINST COMPANY |
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LEGAL STATUS |
*** |
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DATE OF INCORPORATION |
01OCT2009 |
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PLACE OF REGISTRY |
Panama |
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NOTARY OFFICE |
No.3: Tercera del Circuito (Th |
DURATION |
Perpetual |
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REGISTRATION |
Filing Card 676648, Doc.1656098, Deed 7949 |
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INITIAL CAPITAL |
US$10,000.= Dollars |
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CURRENT EXCHANGE RATE (US$) |
B/.1.= Balboa per US$1.= Dollar |
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COMMENTS |
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Subject's Registered Agent is the firm: DUDLEY & ASOCIADOS. Avenida 5a. Norte, Enrique Geenzier, El Cangrejo Panama City 9-A Panama Telephone: (507)22635400. E-mail: info@dudleyasociados.com Subject's Legal Representation shall be performed by the Secretary or the Treasurer. |
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WHO IS WHO? |
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DUDLEY PORRAS, MIGUEL ANGEL |
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TITLE |
President |
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NATIONALITY |
Panamanian |
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BACKGROUND INFORMATION |
He is referred to act as Director of the following companies: NAX INTERNATIONAL,S.A. ST STEPHENS INTERNATIONAL OF PANAMA S.A. TRANSATLANTIC TRADING AND FINANCE COMPANY INC. VEGGIE FRUITS PANAMA, S.A. PARALLEL AVIATION, S.A. WEB PROCESSING DATA INC. CURB APPEAL (PANAMA) CORP. ENDO PANAMA, S.A. MARITA HOLDINGS INC. HACIENDA LA DOöA S.A. GRUPO ANDINO, S.A. TRANSAMERICAN LEASING INC. LUGOVA MANAGEMENT INC. CAPIRITA, S.A. CAFETALES INTERNATIONAL INC. TALLER AUTOMOTRIZ PACECAR,S.A PRODUCTOS MEDICOS Y SUMINISTROS, S.A. (PROMEDICS) SKANKOL HOLDINGS, INC. RALJO FINANCE & T.,S.A. LES TOURS DE PANAMA INC. ISTHMUS TOWER, S.A. ORION TECHNOLOGIES INFORMATION S.A. PROMAGA CORPORATION. PRO-HOGAR ZONA LIBRE, S.A. BIENES RAICES OMEGA, S.A. CARLSTONE INVESTMENT INC. AGMER HOLDING CORP. WCM, INC. SOFEL CORPORATION ISG IMMOBILIEN SERVICE DEUTSCHLAND BETEILIGUNG A.G. PANAMA TECHNICAL SERVICES CORP. NOTA MARGINAL DE ADVERTENCIA CIRCLE SHIPPING CORP MADIK, S.A. DISTRIBUIDORA A & M, S.A. MARIX TRADING S.A. HANBRIDGE CORP DR. HOFER A.G. VERLIX TRADING, S.A. ASTRIL CORPORATION ENTERPRISES. CORPORATION ORIX, S.A. SULARIX, S.A. CLAUDIX COERPORATION DR. NORDMANN AG MIMSY INTERNACIONAL ,S.A SOARING EAGLE INVESTMENTS INC. RULPIK, S.A. BADIX INVESTMENTS, S.A. ALTIK CORPORATION. LOBIX, S.A. DUCRIX,S.A. SOLIUM CORP. LAMPRIX CORP. FALDOM INVESTMENTS S.A. POLCRIK, S.A. BALMARINE CORPORATION. ROLDY CORP. BALCOX CORP., S.A. DR. BERNHARD BETEILIGUNGS AG. LERNIK CORP. LOPIK, S.A. BOLIX INVESTMENTS CORP. CRUNIX, S.A. RULIX TRADING,S.A. BANIX CORPORATION. DUQUEL PROPERTIES,S.A. B & P CAPITAL CONSULTORES, S.A. MERBLIX, S.A. KURTILEX, S.A. DISTRIBUIDORA NARDIK, S.A. AVI TREUHAND AG SERVICIOS DE SISTEMAS, S.A. LIABEL S.A. WINKLER DEVELOPMENT CORP LURDIK DEVELOPMENT CORP. VOLPARK_CORPORATION S-A COMPAöIA CONTINENTAL DE INVERSIONES S.A TRIESEN DEVELOPMENT CORP COMPAöIA ORIENTAL DE SERVICIOS , S.A. INVERSIONES EJECUTIVAS, S.A. COMPAöIA EUROPEA DE FINANZAS, S.A. RIO GRANDE DEVELOPPMENT & TRADE, , CORP. GRAN CANARIA INVESTMENTS, S.A. LACROIX TRADING INC. REGIONAL INVESTMENTS INC. WILLEM CORPORATION IMPEX CARIBE, S.A. NORTH VALLEY INVESTMENTS, INC. LA VEGA VENTURES INC. -.- GRINDLEY FINANCE AND MANAGEMENT CORPORATION GALATI UNIVERSAL, S.A. DAYTON VENTURES CORP. among others |
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ASSOCIATED AS PER
OUR DATABASE TO |
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SJÖGREEN DE
ARAMAYO, FABIOLA |
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TITLE |
Secretary |
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NATIONALITY |
Panamanian |
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BACKGROUND INFORMATION |
She is referred to act as Director of the following companies: SHANTUR INVESTMENTS INC. CENTURIAN INVESTMENT HOLDINGS INC. NAYEL HOLDINGS & INVESTMENTS CORP. GASCAR NEW MANAGEMENT INC. LURIOK CAPITAL INC. DOLMINUX CORPORATION NOVABULK SHIPPING & TRADING, S.A. |
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ASSOCIATED AS PER
OUR DATABASE TO |
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Subject's articles of incorporation were signed by: - VALENTIN MARTINEZ VASQUEZ - ESPERANZA FONG DE PALACIOS |
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Main activity |
It is not known whether subject is operating. It was not able to find subject's corporate purpose. |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Interviewee(s) |
Third-party sources |
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Information provided |
We could not arrange any personal interviews because subject was not found; therefore, we did not obtain any balance sheets and/or accounting figures. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
UNDETERMINED This company's Financial Situation is deemed to be Undetermined because it was not found any financial information to assess its results. Also, lack of credit experience does not allow us to determine subject's creditworthiness. |
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Main fixed assets of the company (general detail) |
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It was not obtained any information on insurances. |
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Explanation about commercial reputation |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.33 |
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1 |
Rs.102.18 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
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Report
Prepared by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.