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Report No. : |
303380 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ELESTE S.A |
|
|
|
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Registered Office : |
Calle 16, Ave. Santa isabel Colindante, Local 6 B-1, Zona Libre de
Colon |
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|
|
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Country : |
Panama |
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|
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Date of Incorporation : |
17.03.2010 |
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
· Distributor of the International Fresh brand in Latin America. · Also subject is engaged in Lady Suits, Skirts, Blouses, Tunics, bags, sarongs, shirts for men, Trousers, lady and gentlemen, dressing gowns |
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No. of Employee : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
|
|
Legal Name: |
ELESTE S.A |
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Trade Name: |
ELESTE |
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ID: |
694710 |
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Date Created: |
2010 |
|
Date
Incorporated: |
17-03-2010 |
|
Legal Address: |
Calle 16, Ave.
Santa isabel Colindante, Local 6 B-1, Zona Libre de Colon, Panama |
|
Operative
Address: |
Calle 16, Ave. Santa
isabel Colindante, Local 6 B-1, Zona Libre de Colon, Panama |
|
Telephone: |
00507-4413390 /
00507-4412870 |
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Fax: |
00507-4413390 |
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Legal Form: |
Sociedad Anónima |
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Email: |
|
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Registered in: |
Panama |
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Website: |
No website |
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Manager: |
NADER HAMMOUD
HAMMOUD |
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Staff: |
2 |
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Activity: |
Clothes Stores |
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|
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BANKS
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|
|
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Banco de Panama |
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The company does
not make its banking data public |
HISTORY
|
|
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The company
started business in 2010 |
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PRINCIPAL
ACTIVITY |
Eleste SA is the
official distributor of the International Fresh brand in Latin America. |
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Products/Services
description: |
Lady Suits, Skirts,
Blouses, Tunics, bags, sarongs, shirts for men, Trousers, lady and gentlemen,
dressing gowns |
|
Brands: |
Fresca
Internacional |
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Sales are: |
Retail adn
Wholesale |
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Clients: |
General
Clientele / REPRESENTACIONES C.S. SAS |
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Suppliers: |
ONE EARTH FOODS
PTY LTD |
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Operations area:
|
National |
|
The company
imports from |
India, South
Africa |
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The company
exports to |
Colombia |
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The subject
employs |
2 |
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Payments: |
Regular |
|
|
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LOCATION
|
|
|
Headquarters : |
Calle 16, Ave.
Santa isabel Colindante, Local 6 B-1, Zona Libre de Colon, Panama |
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Branches: |
The company does
not have branches |
|
Industry: |
Companies
in this industry operate physical retail establishments that sell clothing
and accessories. Personal income
and fashion trends drive demand for clothing. The profitability of individual
companies depends heavily on effective merchandising and marketing. Large
companies can offer wide selections of clothing and have advantages in
purchasing, distribution, and marketing. Small stores can compete by offering
unique merchandise, targeting a specific demographic, providing superior
customer service, or serving a local market. The clothing
retail industry includes stores specializing in women's clothing (50 percent
of industry revenue) or men's clothing (20 percent). Stores may also
specialize in children's clothing (nearly 10 percent of sales) or
accessories. Children's clothing stores include infant wear. Accessory stores
may specialize in hats or caps, costume jewelry, gloves, handbags, ties,
wigs, or belts. Within their specialty, stores typically sell a full range of
items including clothing, outerwear, and underwear. Many clothing stores also
sell shoes, accessories, makeup, and perfumes. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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|
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Listed at the
stock exchange: |
NO |
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Capital: |
USD 500,000.00 |
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Shareholders %: |
This is a
private company. Major holders are: |
|
Management: |
PRESIDENT, NADER
HAMMOUD HAMMOUD |
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Related
Companies: |
No subsidiary
companies |
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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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2013 USD |
|
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Revenue |
300 000 |
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Cash Flow |
Normal |
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|
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LEGAL FILINGS
|
|
|
|
|
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There are no
legal connected to the subject. |
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SUMMARY
|
|
|
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Eleste SA is the
official distributor of the International Fresh brand in Latin America. |
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|
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RISK INFORMATION
|
|
|
|
|
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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ENTERVIEW |
|
|
NAME |
NA |
|
POSITION |
NA |
|
COMMENTS |
We called
several times but received no response |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.