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Report No. : |
308094 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ECOTRADE |
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Registered Office : |
53rd Street Urbanizacion Obarrio Torre Swiss Bank 16th
Floor, |
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Country : |
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Date of Incorporation : |
19.05.1986 |
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Legal Form : |
Public Company |
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Line of Business : |
Subject is an International Business Company (IBC) [Note: We tried to confirm /
obtain the detailed activity but the same is not available from any sources] |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
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 : |
International business company |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Panama |
A2 |
A2 |
|
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 |
Company Name and address
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|
|
Legal Name: |
ECOTRADE
S.A. |
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TradeName: |
NA |
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ID |
173645 |
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Date Created: |
1986 |
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Date
Incorporated: |
19-05-1986 |
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Legal Address: |
53rd Street
Urbanizacion Obarrio Torre Swiss Bank 16th Floor, Swiss Tower Panama Republic
Of Panama |
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OperativeAddress: |
53rd Street
Urbanizacion Obarrio Torre Swiss Bank 16th Floor, Swiss Tower Panama Republic
Of Panama |
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Telephone: |
T. 507.265.7777 |
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Fax: |
F. 507.265.7700 |
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Legal Form: |
International Business Company |
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Email: |
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Registry Office: |
Panama |
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Website: |
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Manager: |
Morgan & Morgan |
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Staff: |
0 |
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Activity: |
This is an International Business Company (IBC) |
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SIC Codes: |
NA |
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NAICSCodes: |
NA |
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BANKS
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Name |
Bank of Panama |
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This information was not verified by the registered agent. |
HISTORY
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Thecompanywasincorporated in 1986. |
PRINCIPAL ACTIVITY
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ECOTRADE
S.A. is an International Business Company incorporated in Panama for tax
purposes. |
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Products/Servicesdescription: |
NA |
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Itemploys |
The company does not have any employee in Panama. |
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Sales are: |
NA |
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Clients: |
NA |
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Competitors: |
NA |
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Suppliers: |
NA |
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Thecompanyimportsfrom |
NA |
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Thecompanyexports to |
NA |
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Payments: |
NA |
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LOCATION
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Headquarters : |
The company does not operate in the country. It would use its address for tax purposes. |
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Size: |
NA |
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Property: |
NA |
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Branches: |
NA |
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Business Overview: |
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 |
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Shareholders |
The company is owned by foreign shareholders. It may be related to: Ecotrade SA Avenue Pasteur 3 Luxembourg, Luxembourg |
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Management: |
It is administrated by the registered agent. Morgan & Morgan www.morimor.com MMG Tower, 23rd Floor Ave. Paseo del Mar, Costa del Este Panama City Rep. of Panama PO Box 0832 00232 WTC T. 507.265.7777 F. 507.265.7700 |
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Directors SECRETARY, LUZ ARCIA TREASURY, YESSINIA AGUDO SUBSCRIBERS PABLO JAVIER ESPINO ADELINA M. DE ESTRIBI |
FINANCIAL INFORMATION
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This is a private company which does not make its financial statements public. |
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The following information has been provided by our private sources. |
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USD 2013 |
|
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Turnover |
0 |
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OperatingIncome |
2 500 000 |
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Net Income |
400 000 |
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Net Worth |
3 200 000 |
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Bank Liabilities |
0 |
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Cash Flow |
Normal |
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LEGAL FILINGS
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There are no adverse legal information connected to the company. |
FINAL REVIEW
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This is an International Business Company which belongs to a company located in Panama. It is registered in Panama for tax purposes and does not operate within the country. Itismanagedby a residentregistrationagent. |
RISK INFORMATION
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Indebtedness |
Controlled |
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Payments |
Unknown |
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Cash |
Normal |
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CALL |
|
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Interviewee |
Agent |
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Position |
Attorney |
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Comments |
The person contacted refused to confirm data about this company. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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Report Prepared
by : |
ANK |
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.