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Report No. : |
353726 |
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Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ASHFORD INVEST & TRADE INC. |
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Registered Office : |
MMG Tower, 23rd Floor, Ave. Paseo del Mar, Costa del Este, Panama City Rep. of Panama, PO Box 0832 00232 WTC |
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Country : |
Panama |
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Date of Incorporation : |
15.09.2005 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
IBC (International Business Company) |
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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 : |
International Business Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 Trade 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 2016 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 completed a metro system in Panama City, valued at
$1.2 billion in 2014. Panama's transportation and logistics services sectors,
along with infrastructure development projects, have boosted economic growth;
however, public debt surpassed $17 billion in 2014 because of excessive
government spending and public works projects. Foreign direct investment 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. The US-Panama Trade Promotion Agreement was approved by Congress and
signed into law in October 2011, and entered into force in October 2012.
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Source
: CIA |
STATUTORY INFORMATION
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Order: |
ASHFORD INVEST
& TRADE INC. |
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Address in the
order: |
CALLE 53,
URBANIZACION OBARRION, EDIFICIO PN PISO 6,
Panama |
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Comments on
address: |
The address mentioned
in the order also corresponds to Agent MORGAN Y MORGAN. |
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Legal Name: |
ASHFORD INVEST
& TRADE INC. |
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Trade Name: |
ASHFORD INVEST
& TRADE |
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RFC: |
504073/844146 |
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Date Created: |
2005 |
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Date
Incorporated: |
15/09/2005 |
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Legal Address: |
MMG Tower, 23rd
Floor |
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Operative
Address: |
MMG Tower, 23rd
Floor |
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Telephone: |
5.072.657.777 |
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Fax: |
5.072.657.700 |
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Legal Form: |
Sociedad Anonima |
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Email: |
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Registered in: |
Panama |
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Website: |
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Contact: |
MORGAN Y MORGAN |
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Staff: |
0 |
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Activity: |
IBC
(International Business Company) |
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BANKS |
Scotiabank |
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The company does
not make its banking data public |
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History: |
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The company was established
in 2005. |
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PRINCIPAL ACTIVITY
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ASHFORD INVEST
& TRADE INC. is an International
Business Company incorporated in Panama for tax purposes. |
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Products/Services
description: |
NA |
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Brands: |
NA |
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Sales are: |
NA |
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Clients: |
NA |
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Suppliers: |
FERSINSA GB S.A
DE C.V |
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Operations area:
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NA |
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The company
imports from |
NA |
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The company
exports to |
NA |
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The subject
employs |
The company does
not have any employee in Panama |
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Payments: |
Unknown |
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LOCATION
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Headquarters : |
The company does
not operate in the country. It would use its |
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Branches: |
NA |
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Related
Companies: |
NA |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the
stock exchange: |
NO |
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Capital: |
USD 10,000.00 |
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Shareholders: |
This is a
private company. We could not confirm major Holders. |
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Management: |
PRESIDENT,
QUERUBE C DE NUÑEZ |
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Agent: |
MORGAN Y MORGAN |
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FINANCIAL INFORMATION
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This is a
private company which does not make its financials public. |
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There are no
financial for the subject |
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LEGAL FILINGS
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There are no
lega for the subject |
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SUMMARY
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This is an
International Business Company which belongs to a |
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RISK INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Unknown |
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CASH
FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
NA |
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POSITION |
Agent |
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COMMENTS |
They refused to
confirm any data on the subject due to privacy reasons. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.99 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.73.47 |
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USD |
1 |
Rs.67.10 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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.