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Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
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Name : |
WPC DESU TENSO
TRADING |
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Registered Office : |
402-C 4th Floor, |
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Country : |
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Date of Incorporation : |
2008 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Imports food products |
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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 |
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Philippines |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
PHILIPPINES - ECONOMIC
OVERVIEW
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 has received several credit rating upgrades
on its sovereign debt, and has had little difficulty tapping domestic and
international markets to finance its deficits. 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: WPC DESU TENSO TRADING
Address: 402-C 4th Floor,
Zone 068, Port Area, Manila, Philippines.
Service Type: Normal
We conducted research and investigation on WPC DESU TENSO TRADING and
showed the following, viz:
VERIFICATION WITH DEPARTMENT OF TRADE & INDUSTRY (DTI) ON WPC DESU TENSO TRADING
Legal Entity - PROPRIETORSHIP - REGISTRATION
a) Year registered : 2008
b) Date of Certification : December 4, 2014
(Note: Please see attached Certification)
c) Type of Company : Sole Proprietorship
d) Owner Name : Wilfredo Palma Castro
e) Scope of Business : National
Conducted business
site inspection at Unit 402-C 4th
Floor, Champ Building, Bonifacio Drive, Port Area, Manila.
Champ Bldg, is an
old 4 storey concrete structure, poorly maintained.
Interviewed a lone
employee of subject, firm at the time of visit, named May Fausto. The office
space is estimated at having a Floor Area of about 25 square meters, more or
less, poorly maintained. There were around 5 empty clerical tables which
appears without sign of business activity. The unit has door signage. Business
papers were noticed hanging on the wall.
As verified from
the Bldg. Administration Office, subject company has been renting the place
since 3 years ago.
As gathered from
May Fausto, the company imports food products from different countries.
According to
reliable sources, subject firm is accredited with Phils. Food & Drugs
Administration which operates under License to Operate No. CFRR-NCR-FI-5807.
Likewise, was issued a Regular Importer’s Clearance Certificate/Broker’s
Clearance Certificate by the Bureau of Internal Revenue (BIR)
Not available from
regular sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
SMN |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.