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Report No. : |
304558 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
GRUPO SIDAT S.A |
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Registered Office : |
Via Argentina Edificio 29 Panama Local 4 |
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Country : |
Panama |
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Date of Incorporation : |
26.04.2002 |
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Legal Form : |
Public Company |
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Line of Business : |
Exporter of Timber |
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No. of Employee : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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) |
|
Panama |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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.
|
Source
: CIA |
STATUTORY INFORMATION
|
|
|
Order:
|
GRUPO SIDAT S.A |
|
Address
in the order: |
Via
Argentina Edificio 29 Panama Local 4 |
|
Legal
Name: |
GRUPO
SIDAT S.A |
|
Trade
Name: |
Grupo
Sidat |
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ID: |
416262 |
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Date
Created: |
2002 |
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Date
Incorporated: |
2002-04-26 |
|
Legal
Address: |
Via Argentina
Edificio 29, Local 4 , Panama |
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Operative
Address: |
Via Argentina
Edificio 29, Local 4 , Panama |
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Telephone:
|
507 2613240 |
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Fax: |
507-60700786 |
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Legal
Form: |
Public
Company |
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Email: |
|
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Registered
in: |
Panama |
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Website:
|
No website |
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Manager: |
|
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Staff:
|
5 |
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Activity: |
Timber exporters |
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BANKS |
Banco de Panama |
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The company does
not make its banking data public |
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HISTORY
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|
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The
company started business in 2002 |
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PRINCIPAL
ACTIVITY |
According
to our search, the company would be related to the sale of wooden items. |
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Products/Services
description: |
Packaging
Materials and Containers, Wood Packaging Materials |
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Brands: |
NA |
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Sales
are: |
Wholesa
& Retail |
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Clients: |
General
Clients |
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Suppliers:
|
SHAH
TRADERS |
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Operations
area: |
National |
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The
company imports from |
India,
Venezuela, Brazil |
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The
company exports to |
Latin
America |
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The
subject employs |
5
employees |
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Payments:
|
Regular |
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|
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LOCATION
|
|
|
Headquarters
: |
Via Argentina
Edificio 29, Local 4 , Panama |
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Branches:
|
The
company does not have branches |
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Industry:
|
NA |
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|
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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 |
|
Shareholders
%: |
This
is a private company. Major holders are: |
|
Management:
|
PRESIDENT,
ILYASHBHAI AHMEDBHAI SIDAT BHAYAT |
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Related
Companies: |
SIDAT,
S.A |
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|
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FINANCIAL
INFORMATION
|
|
|
|
This
is a private company which does not make its financial figures public. The following
information has been provided by outside sources. |
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|
|
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USD
2013 |
|
|
Revenue |
500
000 |
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Cash
Flow |
Normal |
LEGAL
FILINGS
|
|
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There
are no legal filings connected to the subject |
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SUMMARY
|
|
|
|
GRUPO
SIDAT is a wood importer from Panama. The company is involved in the sale of
wood items, wood packaging and has 12 years of experience in the market. |
RISK
INFORMATION
|
|
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH
FLOW |
Nomal |
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STATUS |
Active |
ENTERVIEW
|
|
|
NAME |
NA |
|
POSITION |
NA |
|
COMMENTS |
We
reached the comapny's voicemail and left a message asking to return our call. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
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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 |
|
<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.