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Report No. : |
349205 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
EMILIO ZAPATA |
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Registered Office : |
Calle 30 de marzo Casa número
30, Puerto Plata CP 57000 |
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Country : |
Dominican Republic |
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Date of Incorporation : |
1991 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
The company is specialized in Larimar
and Amber jewelry and Larimar rough (Raw stones) at wholesale, obtained from
Larimar mines. |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s 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 : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Dominican Republic |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
DOMINICAN REPUBLIC - ECONOMIC
OVERVIEW
The Dominican Republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy's largest employer, due to growth in telecommunications, tourism, and free trade zones. The mining sector has also played a greater role in the export market since late 2012 with the commencement of the extraction phase of the Pueblo Viejo Gold and Silver mine. The economy is highly dependent upon the US, the destination for approximately half of exports. Remittances from the US amount to about 7% of GDP, equivalent to about a third of exports and two-thirds of tourism receipts. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GDP, while the richest 10% enjoys nearly 40% of GDP. High unemployment and underemployment remains an important long-term challenge. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, boosting investment and exports and reducing losses to the Asian garment industry. The Dominican Republic's economy rebounded from the global recession in 2010-14, and the fiscal situation is improving. A tax reform package passed in November 2012 and a reduction in government spending helped to narrow the central government budget deficit from 6.6% of GDP in 2012 to 2.7% in 2014. A successful government bond placement in 2013 and 2014 helped finance the deficit. A liability management operation in January 2015, in which the government paid down over $4 billion of the country’s Petrocaribe debt, at a discount of 52% with proceeds from the sale of $2.5 billion in global bonds, reduced the country’s debt load by approximately by 3.3% of GDP.
|
Source
: CIA |
STATUTORY INFORMATION
|
|
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Order: |
Emilio R Zapata Mena |
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Address in the order: |
Turistica Road 30 Puerto
Plata ( Dominican Republic) |
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Comments: |
Dear Sirs, kindly note that: Name of the order: This is the
complete name of owner person, this is a sole propiertorship and legal name
of propiertorships are owner’s name. However, at the Dominican Republic’s
Registry the company is registered with name EMILIO ZAPATA. Address: Correct address is
Calle 30 de marzo Casa número 30, Puerto Plata CP 57000 Dominican Republica
(new address). |
|
Legal Name: |
EMILIO ZAPATA |
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Trade Name: |
Blue Amber Factory / Daka
Larimar |
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RNC: |
2400235285 |
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Date Created: |
1991 |
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Date Incorporated: |
NA |
|
Legal Address: |
Calle 30 de marzo Casa
número 30, Puerto Plata CP 57000 Dominican Republica |
|
Operative Address: |
Calle 30 de marzo Casa
número 30, Puerto Plata CP 57000 Dominican Republica |
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Telephone: |
(+1)8099963650 /
(+1)8092614752 |
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Fax: |
NA |
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Legal Form: |
Sole Propiertorship |
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Email: |
|
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Registered in: |
Dominican Republic |
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Website: |
www.dakalarimarjewelry.com |
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Contact: |
Emilio R Zapata Mena, General
Manager |
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Staff: |
2 |
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Activity: |
Jewellery Wholesale |
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BANKS |
Banco de la Republica
Dominicana |
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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 would have started
business in 1991 |
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PRINCIPAL ACTIVITY
|
|
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The company is specialized
in Larimar and Amber jewelry and Larimar rough (Raw stones) at wholesale,
obtained from Larimar mines. |
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Products/Services
description: |
NECKLACES |
|
Brands: |
Blue Amber Factory / Daka
Larimar |
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Sales are: |
Wholesale |
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Clients: |
Jewelry Retailers /
Distributors The company sells mainly
through Alibaba (internet). |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company imports from |
No imports |
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The company exports to |
No exports |
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The subject employs |
2 employees |
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Payments: |
Slow but correct |
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LOCATION
|
|
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Headquarters : |
Calle 30 de marzo Casa
número 30, Puerto Plata CP 57000 Dominican Republica |
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Branches: |
The company does not have
branches |
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Related Companies: |
DAKA LARIMAR LLC Company number L10000028648 |
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|
DAKA BLUE AMBAR SRL |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock
exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a sole
propiertorship. Major holder is Emilio Zapata |
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Management: |
Emilio R Zapata Mena,
Manager |
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|
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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 records
connected to the subject |
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LEGAL FILINGS
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There are no legal records
connected to the subject |
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SUMMARY
|
|
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The company is specialized
in Larimar and Amber jewelry and Larimar rough (Raw stones) at wholesale,
obtained from Larimar mines. It has a small sized, with
the legal form of a sole propiertorship. However, there are 2 related
companies from same owner; one of them filed in Florida, US which is inactive
and the other one from Dominican Republic too, which is active. The company is active and
shows no negative records; however, there are no export/import recordsand it
mainly sells through internet. We suggest working with a low credit line and
monitoring the subject for the following 12 months. |
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RISK INFORMATION
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|
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DEBTS |
Controlled |
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PAYMENTS |
Slow but correct |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
|
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NAME |
NA |
|
POSITION |
NA |
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COMMENTS |
We tried to contact the
company but received no answer. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
UK Pound |
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
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Report Prepared
by : |
TRU |
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 |
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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 |
|
|
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 |
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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 |
-- |
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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.