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Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
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Name : |
BENAYON COMERCIAL EIRL |
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Registered Office : |
Font Bernard 19, Los Prados, Santo Domingo |
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Country : |
Dominican Republic |
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Date of Incorporation : |
2003 |
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Legal Form : |
Empresas Individuales de Responsabilidad Limitada |
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Line of Business : |
Importer and distributor of pharmaceuticals. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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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Dominican Republic |
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 |
DOMINICAN REPUBLIC - ECONOMIC
OVERVIEW
The Dominican Republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy's largest employer, due to growth in telecommunications, tourism, and free trade zones. The economy is highly dependent upon the US, the destination for more than half of exports. Remittances from the US amount to about one-tenth of GDP, equivalent to almost half of exports and three-quarters of tourism receipts. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GDP, while the richest 10% enjoys nearly 40% of GDP. High unemployment and underemployment remains an important long-term challenge. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, boosting investment and exports and reducing losses to the Asian garment industry. The growth of the Dominican Republic's economy rebounded from the global recession in 2010-12 and remains one of the fastest growing in the region although its fiscal situation is weak; the fiscal deficit climbed from 2.6% in 2011 to approximately 8% in 2012. A tax reform package passed in November 2012 aims to narrow this deficit.
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Source
: CIA |
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GEOPOLITICS - DOMINICAN REPUBLIC |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic
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Currency: 100.00 DOP = 2.35568 USD |
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Ordered as: |
Benayon Commercial EIRL |
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Address in the order: |
Font BErnard 19 Los Pardos Santo Domingo Domincan Republic |
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Legal Name: |
BENAYON COMERCIAL EIRL |
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Legal Address |
Font Bernard 19, Los Prados |
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Postal Town |
Santo Domingo |
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Post Code |
N.A. |
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Primary Geographic Area |
Distrito Nacional |
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Country |
DO |
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Operative Address |
Font Bernard 19, Los Prados, Santo Domingo Dominican Republic |
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Telephone: |
+1-809-877-4490 |
RNC : |
124005787 |
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Fax: |
N.A. |
Legal Form: |
Empresas Individuales de Responsabilidad Limitada |
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Email: |
N.A. |
Registered in: |
DO |
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Website: |
N.A. |
Date Created: |
2003 |
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Manager: |
Catherine Vanesa Mueces, President.
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Date Incorporated: |
N.A. |
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Staff: |
5 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Importer and distributor of pharmaceuticals. |
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Name of the Bank |
BANCO BHD |
HISTORY
The company was established in the year 2003. It is incorporated in
Dominican Republic.
PRINCIPAL ACTIVITY
The company engages as an importer and wholesale distributor of
pharmaceuticals.
Products/Services description:
The company offers a wide range of products, such as antibiotics,
analgesics, antipyretics, antihistamines, among several others.
Sales are:
Wholesale
Clients:
The company serves
pharmacies and government agencies.
Suppliers:
*Unimac Generics
(India)
Operations area:
National
The company
imports from India
The company does
not export
Trade References:
All the subject's suppliers are located in India; therefore we could not
verify any trade references.
The subject employs 5 employee(s)
Comments on staff:
The staff number
was provided by the company.
made on a 120 days
basis - monitored over the last 12 months
Headquarters
Font Bernard 19,
Los Prados, Santo Domingo Dominican Republic.
The property is:
Owned
Comments on location:
Corporate office.
The location is owned by the company.
Branches:
No branches were
reported for this company.
Listed at the stock exchange:
NO
Shareholders Parent Company(ies):
This is a private company. It is owned by Catherine Vanesa Mueces,
President.
Management:
Catherine Vanesa Mueces, President.
Timo Calaeayuv, Admistration Manager.
As a private company the subject does not publish any financial
statements.
We have contacted Mr. Timo Calaeayuv, Administration Manager, who
provided us with the following data for 2013 (estimate):
|
Currency |
DATE |
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USD |
2013 |
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Turnover |
2 000 000 |
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The cash flow is |
Normal |
Legal Fillings
The sources consulted record no detrimental legal or labor court
information.
Rating
Local credit bureau gave a NORMAL credit rate.
The company is in Good Standing. This means that all local and federal
taxes were paid on due date.
Final Opinion
The subject is a small sized company from Dominican Republic which has been
operating for over 10 years. It is active and in good standing.
Its business structure is small but established. The company operates a
facility in Santo Domingo and employs 5 people. It is an owner operated
business.
The financial data indicates that it has a correct position in the
market. There is no detrimental information filed against the company within
the district court.
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
UNKNOWN |
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Cash |
NORMAL |
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Person Interviewed
Timo Calaeayuv.
Position
Administration Manager.
Comments
The contacted person verified all the information in the report.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.13 |
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|
1 |
Rs.101.53 |
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Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
---- |
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.