MIRA INFORM REPORT

 

 

Report Date :

06.11.2014

 

IDENTIFICATION DETAILS

 

Name :

AGRI-BEST COMMODITIES

 

 

Registered Office :

No. 726 Asuncion Street, Binondo 1006, Manila

 

 

Country :

Philippines

 

 

Date of Incorporation :

15.03.2012

 

 

Com. Reg. No.:

01687325

 

 

Legal Form :

Single Proprietorship

 

 

Line of Business :

Subject is engaged in the importation of agricultural products.

 

 

No of Employees :

Not Available

 

 

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 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Philippines

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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 Details

 

Company Name:

AGRI-BEST COMMODITIES

Supplied Name:

GRIBEST COMMODITIES

Trading Address:

No. 726 Asuncion Street, Binondo 1006, Manila, Philippines

Supplied Address:

726,ASUNCION STREET BINONDO MANILA PHILIPPINES-1006

Telephone Number:

+63-91-7848-0888, 2241-8785

Note: The exact name and address are as above.

 

 

Company Identification Details

 

Company Name:

Agri-Best Commodities

Registered Number:

01687325

Legal Form:

Single Proprietorship

Date Incorporated:

2012-3-15

Authorized Capital:

N/A

Listed at Stock Exchange:

No

Principal Activities:

Engaged in the importation of agricultural products.

Staff:

N/A

Note: Proprietorship and Partnership concerns are exempted from divulging their authorized capital and hence could not be available. Subject declined to disclose the number of staff, and from other source we cannot obtain the information, either.

 

History

 

Company Background

Regulatory Agency

Date Registered

Registration No.

Term

Department of Trade and Industry

2012-3-15

01687325

5 years

 

Owners

 

Name:

Yu, Marilyn Chan

Position:

Registered Owner / General Manager

Nationality:

Filipino

 

Operation

 

Activities

- Engaged in the importation of agricultural products.

Premises

Subject is located at the above address.

 

Financial Information

 

According to the local Commercial Law, only the listed companies are obliged to publish their financial accounts. Financial information on other legal forms can only be obtained from the Companies directly.

 

Subject’s relevant staff declined to disclose its financials citing the grounds of company’s confidentiality; from other source we cannot obtain the relevant information, either.

 

Bankers

 

1

Name:

Philippine Business Bank, Inc. A Savings Bank

2

Name:

Bank of the Philippine Islands

3

Name:

BPI Family Savings Bank, Inc.

4

Name:

Rizal Commercial Banking Corporation

 

Loans and Receivables

This section contains credit exposure of one million and above transactions reported quarterly by banks and other financial institutions.

For quarter ending as of March 31, 2014

Collateral/Security

Co Maker's Name

Loan Type

Loan Status

Outstanding Amount

Secured Amount

Unsecured Amount

Other Securities

YU FERNANDO

Other Agri Credit Loans

Current

3,000,000.00

　

3,000,000.00

 

　

Time Loans

Current

5,000,000.00

0

5,000,000.00

Other Securities

　

Time Loans

Current

13,232,460.00

0

13,232,460.00

Assignment of / Pledge of Government Securities (GS)

　

Time Loans

Current

3,860,714.30

3,860,714.30

0

 

 

Public

 

Negative Records

 

Accounts Referred for Collection Results

(Information in this section refers to accounts endorsed for collection and accounts reported as delinquent.)

Person Name:

Yu Marilyn Chan

Creditor Name:

Globe Telecom Inc

Endorsed Date:

2008-12-4

Address:

No 79 Lopez Jaina Street 6500 Tacloban City

Amount:

3534.48

Currency:

PHP

Status:

Pending

Remarks:

Card No 21278379 Contact No 9175378455

 

No negative records (court cases, credit cards cancelled and delinquent accounts) found under the name “Agri-Best Commodities” in available database as of November 3, 2014.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.98.06

Euro

1

Rs.76.67

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

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.