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Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
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Name : |
TWS TRADING ZONA LIBRE S.A. |
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Registered Office : |
Calle 6 Avenida 3, Edificio 2B, France Field Zona Libre de Colon |
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Country : |
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Date of Incorporation : |
21.02.2008 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
It has been created to carry out in Panama or in any other country, colony
or foreign lands, business activities related to: purchase, sell, transfer,
dispose, negotiate, finance, exchange, possess, manage, grant or request
loans, give or take commissions, mortgage, pledge lease, use, enjoyment, or
antichresis any kind of property whether they are real estate, chattels,
shares or rights and to enter into contracts, and carry out all actions,
commercial operations and transactions by virtue of Law. |
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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 |
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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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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Panama |
A2 |
A2 |
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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 |
TWS TRADING ZONA LIBRE S.A. |
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TAXPAYER REGISTRATION |
RUC 12972871604564 |
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MAIN ADDRESS |
Calle 6 Avenida 3, Edificio 2B, France Field |
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DEPT/PROV/REGION/STATE |
Zona Libre de Colon |
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COUNTRY |
PANAMA |
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TELEPHONE |
(507) |
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CORPORATE E-MAIL |
twstradinggroup@gmail.com |
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COMMENTS |
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The correct name of the Company is as above indicated. |
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Date of foundation |
2008 |
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Chief Executive |
SCANTLEBURY SANFORD, MILTON ALFONSO |
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Disposition |
UNDETERMINED |
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Payments policy |
Without rating (No payment experience traced) |
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Credit (**) |
UNDETERMINED RISK.(Insufficient or Non existent information). |
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Number of times that this company was required: 1 |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
21FEB2008 |
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PLACE OF REGISTRY |
Panama |
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NOTARY OFFICE |
4th of the Circuit |
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REGISTRATION |
Card 604564, Document 1297287, Notarial Act 2427 |
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INITIAL CAPITAL |
US$.10,000.= Dollars |
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CURRENT EXCHANGE RATE (US$) |
B/.1.= per USD.1.00 |
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COMMENTS |
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Registered Agent: COHEN, VASSILOPULOS, PONS & ASOCIADOS |
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SCANTLEBURY SANFORD, MILTON ALFONSO |
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TITLE |
President |
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NATIONALITY |
Panamanian |
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BACKGROUND INFORMATION |
He appears in judicial proceedings. NB. To appear in judicial proceedings assumes no guiltiness or
innocence but that there is one or are some proceedings where someone appears
as one of the parties. |
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ASSOCIATED AS PER OUR DATABASE TO |
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Maranyeli Abrego and Andreas Vassilopulos signed the Articles of Incorporation. |
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Main activity |
It has been created to carry out in Panama or in any other country,
colony or foreign lands, business activities related to: purchase, sell, transfer,
dispose, negotiate, finance, exchange, possess, manage, grant or request
loans, give or take commissions, mortgage, pledge lease, use, enjoyment, or
antichresis any kind of property whether they are real estate, chattels,
shares or rights and to enter into contracts, and carry out all actions,
commercial operations and transactions by virtue of Law. |
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Disposition |
REPORT PREPARED FROM OUTSIDE
SOURCES. |
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Information provided |
This report has been prepared based on data collected from third-party
sources as it was not possible to find the Company's facilities. We checked different public sources but results were not favorable. We also consulted the Association of Free Trade Zone of Colon but they
said the Company is not listed into their. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
UNDETERMINED Financial Condition of the Company is considered to be INDETERMINED since
no accounting figures were available to assess its current results. Absence or insufficient credit experience does not show its
creditworthiness. |
(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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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.48 |
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UK Pound |
1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SDA |
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 |
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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.