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Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SPICES USA INC. |
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Registered Office : |
741 W. 17th Street, Hialeah, FL 33010 |
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Country : |
United States |
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Date of Incorporation : |
15.10.1993 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler
of spices |
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No. of Employees : |
9 |
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 : |
No complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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United States |
A1 |
A1 |
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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 |
United States - ECONOMIC OVERVIEW
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $48,100. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices increased another 50% between 2006 and 2008. In 2008, soaring oil prices threatened inflation and caused a deterioration in the US merchandise trade deficit, which peaked at $840 billion. In 2009, with the global recession deepening, oil prices dropped 40% and the US trade deficit shrank, as US domestic demand declined, but in 2011 the trade deficit ramped back up to $803 billion, as oil prices climbed once more. The global economic downturn, the sub-prime mortgage crisis, investment bank failures, falling home prices, and tight credit pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP; total government revenues from taxes and other sources are lower, as a percentage of GDP, than that of most other developed countries. The wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the US budget deficit and public debt - through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform bill that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. Long-term problems include inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, sizable current account and budget deficits - including significant budget shortages for state governments - energy shortages, and stagnation of wages for lower-income families.
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Source
: CIA |
SPICES USA INC.
Address: 741 W. 17th Street, Hialeah, FL 33010 - USA
Telephone: +1 305-884-9941
Fax: +1 305-884-6048
Website: www.spicesusa.com
Corporate ID#: P93000071644
State: Florida
Judicial form: Corporation – Profit
Date incorporated: 10-15-1993
Stock: 10,000
shares common
Value: USD
1= par value
Name of
manager: Edwin CHO
Business:
The Company is importer and wholesaler of spices.
Imports mainly from South America and Asia.
Sells to distributors in Florida.
Suppliers include:
PLANT LIPIDS PRIVATE LIMITED.
KADAYIRUPPU, KOLENCHERY 682 311, COCHIN,
INDIA
EIN: 65-0443037
Staff: 9
Operations & branches:
At the headquarters, we find a warehouse and office, on 15,000 sq. feet,
on lease.
Shareholders:
CHO INVESTMENTS, INC.
741 W. 17th Street, Hialeah, FL
33010
Incorporated in Florida on 04-22-2002
ID# P02000043377
President: Edwin CHO
Management:
Edwin CHO is the President, Director and CEO
Dana CHO is Vice President.
As far as we know, they are involved in
other corporations, including:
- CHO INVESTMENTS, INC.
- USA FOOD PRODUCTS LLC
- SPICES USA (GA) INC.
- CHO HOLDINGS, LLC
- 4760 WALDEN CIRCLE, LLC
- 6720 N AUGUSTRA DRIVE, LLC
- 6135 N.W. 186
STREET, LLC
- C106 N.W. 186
STREET, LLC
- C104 N.W. 186 STREET, LLC
- 6065 N.W. 186 STREET, LLC
- 4736 WALDEN CIRCLE, LLC
- C105 N.W. 186 STREET, LLC
- HO KWONG, INC
Edwin CHO is also the President
of BARBADOS USA CHAMBER OF COMMERCE, INC.
In United States, privately held corporations are not required to
publish any financials.
We called and tried to speak to Edwin CHO, but he was away from the
office.
We sent a fax but no answer received.
However, sales estimate for year 2012 is in the range of USD 1,500,000=
(USD 1,300,000= for year 2007)
The business is said to be profitable.
Banks: BankUnited
999 Ponce De Leon Blvd, Coral Gables, FL
33134
Phone:(305) 441-1511
Legal filings & complaints:
As of today date, there is no legal filing
pending with the Courts.
Secured debts summary (UCC):
File number: 20080845187X
Date filed: 06-03-2008
Lapse date: 06-03-2013
Secured Party: De Lage Landen Financial Services Inc.
111 Old Eagle School Rd, Wayne, PA 19087
File number: 201003785598
Date filed: 12-23-2010
Lapse date: 12-23-2015
Secured Party: TD BANK, N.A.
1701 Route 70 East, Cherry Hill, NJ 08034
File number: 200406048760
Date filed: 01-30-2004
Lapse date: 01-30-2014
Secured Party: BankUnites FSB
255 Alhambra Circle, Coral Gables, FL 33134
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
-- |
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.