MIRA INFORM REPORT

 

 

 

Report Date :

14.05.2013

 

IDENTIFICATION DETAILS

 

Name :

MARFAT MARITIME CORP.

 

 

Registered Office :

Samuel Lewis & Calle 58E,Piso 13, Torre ADR, Urb. Obarrio

 

 

Country :

Panama

 

 

Date of Incorporation :

14.05.2008

 

 

Com. Reg. No.:

Card 615824, Doc.1344583; Notarial Act 11342

 

 

Legal Form :

Corporation

 

 

Line of Business :

Subject is an offshore and as such it has been created to carry out in the Republic of Panama or in any other country, colony or foreign territory, activities to buy, sell, transfer, arrange, negotiate, finance, possess, administer, lend or borrow money, give or take commission percentages, make use of mortgages, pledges leasing, obtain beneficial interests or antichresis, over every kind of goods whether they are movable or realty, shares or rights and to execute and carry out any and all acts, contracts, operations businesses and transactions of lawful trade

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Offshore Company

 

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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

 

IDENTIFICATION

 

CORRECT COMPANY NAME

MARFAT MARITIME CORP.

TAXPAYER REGISTRATION

RUC 13445831615824

MAIN ADDRESS

Samuel Lewis & Calle 58E,Piso 13, Torre ADR, Urb. Obarrio

DEPT/PROV/REGION/STATE

Panamá

COUNTRY

PANAMA

TELEPHONE

(507) 2692255/2648911/2691552

E-MAIL

info@shirleylaw.com ; info@shirleylaw.com

 

COMMENTS

 

 
Both the above address and telephone numbers belong to the Registered Agent of this Company.
MARFAT MARITIME CORP. is an offshore company.

 

SUMMARY

 

Date of foundation

2008

permanent employees

Unknown

Chief Executive

GAMBOA POLANCO, YARIELA

Disposition

TF: REPORT PREPARED FROM OUTSIDE SOURCES.

Payments policy

Without rating (No payment experience traced)

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Corporation

 

 

DATE OF INCORPORATION

14MAY2008

 

 

PLACE OF REGISTRY

Panama

 

 

NOTARY OFFICE

First of the Circuit

DURATION

Perpetual

REGISTRATION

Card 615824, Doc.1344583; Notarial Act 11342

 

 

INITIAL CAPITAL

US$10,000.= Dollars

 

 

CLASS OF SHARES

Common, registered or to the bearer

 

 

SHARE VALUE

US$100.= Dollars

 

 

CURRENT EXCHANGE RATE (US$)

B/.1.= per USD.1.=

 

 

 

COMMENTS

 

 
Registered Agent: 
SHIRLEY & ASOCIADOS
Samuel Lewis & Calle 58E, piso 13, Torre ADR, Urb. Obarrio
Panama

 

DIRECTORS

- EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

GAMBOA POLANCO, YARIELA

President

 

 

ALVARADO, ROXANA

Treasurer

 

 

FERNANDEZ, DAMARIS

Secretary

 

 

 

 

WHO IS WHO?

 

BUSINESS HISTORY

 
According to the official Alex Sánchez and Adelina Barria signed the Articles of Incorporation.

 

 

BUSINESS

Main activity

The Company is an offshore and as such it has been created to carry out in the Republic of Panama or in any other country, colony or foreign territory, activities to buy, sell, transfer, arrange, negotiate, finance, possess, administer, lend or borrow money, give or take commission percentages, make use of mortgages, pledges leasing, obtain beneficial interests or antichresis, over every kind of goods whether they are movable or realty, shares or rights and to execute and carry out any and all acts, contracts, operations businesses and transactions of lawful trade.

 

EMPLOYEES

Unknown

 

LOCATION

OTHER PREMISES

 
As we previously mentioned, the above written address belongs to the offices of the Registered Agent which is responsible for keeping the Company's correspondence. It  has established its domicile in said address for incorporation purposes only.

 

FINANCIAL INFORMATIOn

 

Disposition

TF: REPORT PREPARED FROM OUTSIDE SOURCES.

 

 

Information provided

 
MARFAT MARITIME CORP. is an offshore company, hence, access to information is very restricted.
 
At the Registered Agent office, (SHIRLEY & ASOCIADOS) they said strict confidentiality agreements did not allow to disclose information about their clients.
   
As many other companies of this class, Marfat Maritime Corp is an offshore. It has been duly incorporated in the Panamanian territory to take advantages of the tax system existing in the country but operating elsewhere, protecting in that way the interests of the real investors.
 
No balance sheets could be obtained.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
NN: UNDETERMINED
Financial situation is deemed to be indeterminate since no accounting elements were available to assess this Company current result.

Insurance Comments

 

 
Unknown.

 

 

TRADE REFERENCES,  CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

 

Comments :                             No bank accounts were reported.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.92

UK Pound

1

Rs.84.44

Euro

1

Rs.71.32

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.