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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
DAVAO ANANAS CABANA CO. LTD. |
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Registered Office : |
St. Giles Hotel, GF, |
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Country : |
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Date of Incorporation : |
22.02.2006 |
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Com. Reg. No.: |
PL20062798695 |
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Legal Form : |
Private Partnership Limited Company |
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Line of Business : |
Subject is engage in growing, selling & marketing banana, palmoil, jatropa |
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No. of Employees : |
Not Available |
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 : |
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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Philippines |
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 |
PHILIPPINES - 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: DAVAO ANANAS CABANA CO. LTD.
Address: St. Giles Hotel, GF, Makati Ave., Kalayaan Ave., Poblacion, Makati City
Country: Philippines
Service Type: Normal
Phone: +632 536 7168
Note: bingdomingo23@yahoo.com
FINDINGS:
We conducted research and verification on DAVAO ANANAS CABANAS CO. LTD. Hereunder our report, viz:
VERIFICATION WITH
SECURITIES & EXCHANGE COMMISSION (SEC):
DAVAO ANANAS CABANA CO. LTD.
REGISTRATION – (Per Amended Articles of Partnership dated
June 28, 2010)
Certificate No. : PL20062798695
Date : February 22, 2006
Term
: Fifty (50) years.
Address : Camachile, Matanao, Davao del Sur
Telephone No. : 0906 279 8695
PRIMARY PURPOSE : To engage in growing, selling & marketing banana, palmoil, jatropa
and other native products.
CAPITALIZATION
- (Per Amended Articles of
Partnership dated June 28, 2010)
(All Pilipinos)
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Type of Names Partnership |
Capital (Php) |
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Merlyn D. Ramirez - General |
P80,000 |
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Charley P. Domingo - General |
5,000 |
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Gloria D. Domingo - General |
5,000 |
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Arlene L. Casape - Limited |
10,000 |
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100,000 vvvvvvv |
Management - Merlyn D. Ramirez,
General Manager
Note: Per on-line verification with SEC, the only record available on subject are those reported
above. No financial record as well. Called up St. Giles Hotel at phone no. 988-9888.
According to informant, only hotel related business holds office at the ground floor. Further
revealed that subject’s company name is not known in the place. Contacted our regular &
reliable sources, which reported very limited information on subject firm and/or Merlyn D.
Ramirez,
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.98 |
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1 |
Rs.101.49 |
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Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
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 |
-- |
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.