|
Report No. : |
322335 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
YNK TRADING, INC. |
|
|
|
|
Registered Office : |
Avenida Ricardo J Alfaro, Office No 1112 City |
|
|
|
|
Country : |
Panama |
|
|
|
|
Date of Incorporation : |
23.12.2008 |
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
Line of Business : |
Import and wholesale of textile products. |
|
|
|
|
No. of Employee : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
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 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.
|
Source
: CIA |
STATUTORY INFORMATION
|
|
|
Legal Name: |
YNK TRADING, INC. |
|
Trade Name: |
YNK TRADING |
|
ID: |
645872 |
|
Date Created: |
2008 |
|
Date Incorporated: |
23/12/2008 |
|
Legal
Address: |
Avenida Ricardo J Alfaro, Office No 1112 |
|
Operative
Address: |
Avenida Ricardo J Alfaro, Office No 1112 |
|
Telephone:
|
507 2609197 |
|
Fax: |
507 2609196 |
|
Legal
Form: |
Corporation for Profit |
|
Email: |
NA |
|
Registered
in: |
Panama |
|
Website:
|
No website |
|
Contact: |
Kumar Gaurav, President |
|
Staff:
|
5 |
|
Activity: |
Piece Goods, Notions, and Other Dry Goods
Merchant Wholesalers |
|
|
|
BANKS
|
|
|
|
Banco Central de Panama |
|
|
The company does not make its banking
information public. |
|
|
|
|
HISTORY |
|
|
|
The company was founded in 2008. |
|
|
|
PRINCIPAL ACTIVITY
|
|
|
|
TEXTIGLOBAL S Ae company is dedicated to the
import and wholesale of textile products. |
|
Products/Services description: |
Textile Items |
|
Brands: |
NA |
|
Sales are: |
Wholesale |
|
Clients: |
TEXTIGLOBAL S A |
|
Suppliers: |
BALESHWAR SYNTHETICS TEXTILES PVT. L |
|
Operations area: |
National and International |
|
The company imports from |
China and India |
|
The company exports to |
Ecuador |
|
The subject employs |
5 employees |
|
Payments: |
Payment Terms of 60 days -confirmed by
company owner. |
LOCATION
|
|
|
Headquarters : |
Avenida Ricardo J Alfaro, Office No 1112 |
|
Branches: |
The company does not have branches |
|
Industry: |
|
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Shareholders %: |
This is a private company. Major holder is
KUMAR GAURAV. |
|
Capital: |
USD 10,000.00 |
|
Management: |
Directors/ Officers |
|
Related Companies: |
No subsidiary companies |
FINANCIAL
INFORMATION
|
|
|
|
This is a private company which does not make
its financial statements public. |
|
|
|
|
|
The person contacted refused to confirm
financial figures. |
LEGAL
FILINGS
|
|
|
|
There are no legal connected to the
subject |
SUMMARY
|
|
|
|
YNK Trading Inc. is a privately held companies
in textiles founded in 2008. The company has a small sized structure
and mainly imports from India and China. The company does not show negative. |
|
|
|
RISK INFORMATION
|
|
|
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
No Complaints |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
|
ENTERVIEW |
|
|
NAME |
Kumar Gaurav |
|
POSITION |
President and Owner |
|
COMMENTS |
He confirmed experience,
activity, cients, suppliers, staff, capital and payment terms. He refused to confirm
financial figures. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.