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Report No. : |
348774 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ACO STEEL INC. |
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Registered Office : |
Parque Industrial De Las Americas Panama |
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Country : |
Panama |
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Date of Incorporation : |
04.09.2009 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
The company's main objective professional
advice on industrial projects and construction. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 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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Legal Name: |
ACO STEEL INC. |
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Trade Name: |
ACO STEEL
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ID: |
674589
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Date Created: |
2009 |
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Date Incorporated: |
04/09/2009 |
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Legal Address: |
Parque Industrial De Las Americas Panama |
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Operative Address: |
Parque Industrial De Las Americas
Panama (It is important to note that
it does not operate commercially in Panama). |
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Telephone: |
NA |
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Fax: |
NA |
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Legal Form: |
Corporation for Profit |
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Email: |
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Registered in: |
Panama |
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Website: |
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Contact: |
ALFARO FERRER & RAMIREZ |
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Staff: |
0 |
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Activity: |
Constructions Services |
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BANKS
Banco Central de Panama |
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The company does not make its banking data
public |
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History
The company was founded in 2009 |
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PRINCIPAL ACTIVITY
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The company's
main objective professional advice on industrial projects and construction. |
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Products/Services description: |
Components
& Fabrication, Structures, Works and Constructions |
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Brands: |
NA |
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Sales are: |
Wholesale |
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Clients: |
Commercial |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company imports from |
NA |
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The company exports to |
Latin America |
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The subject employs |
0 |
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Payments: |
Unknown |
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LOCATION
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Headquarters : |
The company
does not operate within the country. It uses its legal addres. |
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Branches: |
The company does
not have branches |
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Related Companies: |
CONSTRUCTORA
CON AQUIA S.A. |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
10,000.00 |
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Shareholders: |
This is a private company. Major holder
would be JESUS FLORES URDANETA |
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Management: |
PRESIDENT,
JESUS FLORES URDANETA |
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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
legal issues regaridng the subject |
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SUMMARY
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The company's main objective
professional advice on industrial projects and construction. It does not operate within Panama, it uses
its legal address to commercialize and it is related to Venezuelan company
CONSTRUCTORA CON AQUIA S.A. It is active and shows no negative;
however, it shows low commercial profile in Panama. |
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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 |
Rafel Flores |
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POSITION |
Owner |
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COMMENTS |
He confirmed address and activity. He confirmed
the company does not operate in Panama and is related to Venezuelan comapny
CONSTRUCTORA CON AQUIA S.A. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
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|
1 |
Rs.100.11 |
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Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
This score serves as a reference to assess
SCs 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.