MIRA INFORM REPORT

 

 

Report Date :

18.02.2013

 

IDENTIFICATION DETAILS

 

Name :

CENTRO TEXTIL INTERNACIONAL ZONA LIBRE S.A.

 

 

Registered Office :

Calle 15 y C, Edif. Dismered, Zona libre de Colón

 

 

Country :

Panama

 

 

Date of Incorporation :

10.03.1989

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Importation and commercialization of fabrics in general for men, women and children apparels.

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Panama

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

PANAMA - 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

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

CENTRO TEXTIL INTERNACIONAL ZONA LIBRE S.A.

TRADE NAME

CENTEX

TAXPAYER REGISTRATION

RUC 256802219880

MAIN ADDRESS

Calle 15 y C, Edif. Dismered, Zona libre de Colón

PROVINCE / DEPARTAMENT

Zona libre de Colón / Colón

COUNTRY

PANAMA

TELEPHONE

(507) 4410139 - 4416749

E-MAIL

centex@cwpanama.net

 

SUMMARY

 

Date of foundation

1989

Capital stock

No specified

permanent employees

30

Chief Executive

SEGEBRE SEGEBRE, ALBERTO

Disposition

A: Excellent. Full information and Financial Statements.

Payments policy

Usually to terms/good

Credit (**)

Risk is Moderate. Within Average. Lightly Fair Situation.

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

DATE OF INCORPORATION

10MAR1989

PLACE OF REGISTRY

Panama

DURATION

Perpetual

REGISTRATION

Card 219880, Volume 196, Entry 3120 (10/03/1999)

INITIAL CAPITAL

US$10,000.= Dollars

CURRENT PAID-IN CAPITAL

No specified

CLASS OF SHARES

Registered

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

B/.1.00 per US$1.00

COMMENTS

 
Shareholding structure was not specified.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

SEGEBRE SEGEBRE, ALBERTO

Executive President

YES

 

SEGEBRE ATALA, JERRY

Vice President

YES

 

ATALA DE SEGEBRE, NAILA TUMA

Secretary

 

 

SEGEBRE, ANTONIO

Treasurer

 

 

SEGEBRE ATALA, NICOLAS ELIAS

Board Member/Adm. Manager

 

 

 

 

WHO IS WHO?

 

SEGEBRE ATALA, JERRY

NATIONALITY

Panamanian

D.O.B.

1974

 

BUSINESS HISTORY

 

 
The Company was incorporated on 10/03/1999 in accordance with Notarial Act No.2432.
Emil Nimer Nimer and Henry Mitry Massu Massu signed the Articles of Incorporation .
 
Pursuant to document, dated 25/06/2005, before the First Notary Office of the Circuit, the Company took over CENTRO TEXTIL S.A., which was dissolved without going through a liquidation process. This act was entered in the Registry of Companies under No.811378 (11/07/2005).
 
It is not related to any other company.

 

 

BUSINESS

 

Main activity

 
Importation and commercialization of  fabrics in general for men, women and children apparels.

Import

Yes

Country

China, India, USA and Malaysia

Export

Yes

COUNTRY

The Caribbean, Central and South America

% DOMESTIC PURCHASES

1%

% FOREIGN PURCHASES

99%

SELLING TerritorY

Domestic and international markets

EMPLOYEES

30

 

 

LOCATION

 

PREMISES

Rented

FLOORS

2

AREA

500 m2

OTHER PREMISES

 
Headquarters and commercial offices operate at the above address.
Found no other premises.

Comments

 
Main Client: DANIEL TOLEDO Y COMPANIA LTDA.  (Colombia)

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Alberto Segebre

Position(s)

Executive President

Disposition

A: Excellent. Full information and Financial Statements.

Information provided

 
Mr. Segebre was impolite and merely confirmed the starting date of activities. He was unwilling to cooperate with us. We have prepared this report through third-party sources.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
B: FAIR
This is a medium sized family owned Panamanian company which enjoys a good business reputation as business circles reported. No negative were found.

Insurance Comments

 
Information unavailable.

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS


(Confidential Information)

TRADE REFERENCES

Supplier: RELIANCE S.A.

Tel.: 507 4311409

Country: PANAMA

Goods/Services? : Textiles

 

 

Highest credit? : US$ 20,000.=

 

 

Client since? : 2002

Terms? : 30 days

Performance? : Prompt

Supplier: GLORY PRODUCTS/

Tel.: 507 4411600

Country: PANAMA

Goods/Services? : Services in general

 

 

Highest credit? : US$ 5,000.=

 

 

Client since? : 2004

Terms? : 30 days

Performance? : Prompt

Supplier: DHL PANAMA

Tel.: 507 2713451

Country: PANAMA

Goods/Services? : Courier services

 

 

Highest credit? : US$ 1,500.=

 

 

Client since? : 2007

Terms? : 30 days

Performance? : Prompt

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

Comment

SERVICIO INTERNTIONAL DE CARGA

PANAMA

 

FRIENDSHIP INTERNATIONAL

CHINA

 

ZHEJIANG PROSPEROUS SKY

CHINA

 

SUPER STITCH SEWING FABRIC CENTER

U.S.A.

 

MGM EXPORTS

U.S.A.

 

 

CREDIT HISTORY

No bad were found in databases we could access to.

 

LAWSUITS

No legal actions have been filed against this Company.

 

BANKERS

The subject is a customer of those banks, which when consulted told us that in compliance with current legal regulations, can not provide data on their customer movements out of respect to banking secrecy.

 

 

GENERAL INFORMATION

 

REPUTATION

 

NOTHING AGAINST COMPANY

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.99

UK Pound

1

Rs.83.72

Euro

1

Rs.72.08

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.