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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
YEM CORP. S.A. |
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Registered Office : |
Calle 57 y 58, Abel Bravo, Edif. Time Square Plaza, Piso 2, Urb. Obarrio |
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Country : |
Panama |
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Date of Incorporation : |
22.08.2007 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Importation, exportation, distribution and commercialization items of
clothing for men, women and children |
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No. of Employees : |
Not Available |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Panama |
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 |
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 one-fourth of the population lives
in poverty; however, from 2006 to 2012 poverty was reduced by 10 percentage
points, while unemployment dropped from 12% to 4.5% of the labor force in 2013.
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.
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Source
: CIA |
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CORRECT COMPANY NAME |
YEM CORP. S.A. |
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TAXPAYER REGISTRATION |
RUC 11916751580342 |
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MAIN ADDRESS |
Calle 57 y 58, Abel Bravo, Edif. Time Square Plaza, Piso 2, Urb.
Obarrio, |
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DEPT/PROV/REGION/STATE |
Panamá/Panamá |
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COUNTRY |
PANAMA |
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TELEPHONE |
(507) 2046000 - 2046161 - 2046060 |
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CORPORATE E-MAIL |
jamoni@bmc.com.pa, info@esmo.com.pa |
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Date of foundation |
2007 |
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Capital stock |
B/.10,000.= Balboas |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
Without rating (No payment experience traced) |
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Number of times that this company was required: 3 |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
22AUG2007 |
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PLACE OF REGISTRY |
Panama |
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NOTARY OFFICE |
Fifth of the Circuit |
DURATION |
Perpetual |
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REGISTRATION |
No.580342, Doc.1191675, Not.Act18064 (20/08/2007) |
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INITIAL CAPITAL |
B/.10,000.= Balboas |
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CURRENT PAID-IN CAPITAL |
B/.10,000.= Balboas |
LAST CAPITAL INCREASE |
No increase reported |
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CURRENT EXCHANGE RATE (US$) |
B/.1.= per USD.1.00 |
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COMMENTS |
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The President shall act as Legal Representative, in his absence, the Secretary,
or the Treasurer or any other person designated by the Board of Directors. Registered Agent: Ivette Carol Lee Peñalba |
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FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
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GALLARDO HURTADO DE MOJICA, AMABILIS ITZEL |
Director |
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AGUILAR, EDITH MARISOL |
Director / Treasurer |
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MIRANDA, ESPERANZA ELENA |
Director / Secretary |
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MOGILEVSKY, MIJAEL |
Director |
YES |
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ESKENAZI ABADI, ALBERTO |
Director |
YES |
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YOHROS, JOSEPH RAMON |
Director |
YES |
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GALLARDO HURTADO DE MOJICA, AMABILIS ITZEL |
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TITLE |
Director |
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ASSOCIATED AS PER OUR DATABASE TO |
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ESKENAZI ABADI, ALBERTO |
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TITLE |
Director |
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NATIONALITY |
Panamanian |
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BACKGROUND INFORMATION |
Member of the National Election Board of Panama. |
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ASSOCIATED AS PER OUR DATABASE TO |
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David Alberto Davarro and Esperanza Elena Miranda signed the Articles of
Incorporation.
The Company is part of the ESMO GROUP, which has more than 10 years of a
solid experience in the sector, with apparels collections and accessories for
men, women and children sold in prestigious shops in major shopping areas of
Latin America and the Caribbean.
Apart from YEM CORP. S.A., the Group gathers the following companies:
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COMPANY NAME |
COUNTRY |
TAX REG. |
RELATION % |
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ESMO INTERNACIONAL BUSINESS S.A. |
PANAMA |
(AC) 97409615305222 |
Related |
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ESMO INTERNATIONAL S A |
PANAMA |
(AC) 5743310833884045 |
Related |
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PACIFIC LATINAMERICA S.A. |
PANAMA |
(AC) 7665561484125 24 |
Related |
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SIC Classification Y - TEXTILES- HILANDERIA- TEJEDURIA Y CONEXOS (Industria textil:
Hilanderia, tejeduria y teñido de telas. Producción y comercialización de
textiles en general. No confeccion.) |
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Main activity |
Importation, exportation, distribution and commercialization items of
clothing for men, women and children; it is the authorized representative of
the brands: "U.S. POLO ASSOCIATION", "OCEAN PACIFIC - OP"
, "BISOU BISOU", "SCULPTURE" (jacket, stockings, leggings, shirts, shorts, bath towels, jeans, pants). |
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O P E R A T I O N S |
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Export |
Yes |
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COUNTRY |
Ecuador, Canada, Suriname, Puerto Rico, Peru and Colombia |
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SELLING TerritorY |
Domestic market and abroad |
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Comments |
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The number of employees is unknown. Main Clients: - Los tres Elefantes (Colombia) - Supertiendas y Droguerias Olímpicas (Colombia) - The Classics By Rc Nv (Puerto Rico) - Supermercados Peruanos S.A.(Peru) - Bigfoot Colombia SAS - Disbren S.A. (Ecuador) |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information provided |
We talked to Jamení Perez (Assistant to Manager) who submits our
request to the executives in charge. We were not able to see them as they are
always in meetings. Hence, we have had to prepare this report based on data collected from
reliable third-party sources, where no balance sheets or estimated accounting
figures were available to assess the operations of this Company. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
UNDETERMINED Financial situation is indeterminate. No balance sheets or estimated accounting
figures were available to assess this Company's current results. Although no negative backgrounds were found, no more elements were
available to give a better opinion. |
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Main fixed assets of the company (general
detail) |
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Information unavailable. |
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(Confidential Information)
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TRADE REFERENCES |
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Note : Other suppliers did not provide information or could not be
consulted |
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Found no protested documents, cancelled current accounts or credit cards,
neither tax nor social security debts owed to any AFP (Pension Fund Private
Administrators). |
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Explanation about commercial reputation
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.65 |
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1 |
Rs.99.21 |
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Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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.