|
|
|
MIRA INFORM REPORT
|
Report No. : |
490297 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
YOL PAC IMPORT S.A. |
|
|
|
|
Registered Office : |
47, Rue De La Reunion, Port Au Prince 6120 |
|
|
|
|
Country : |
Haiti |
|
|
|
|
Year of Establishment : |
2010 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and Sale of
Parboiled Rice and Related Products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Haiti |
B2 |
B2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
HAITI - ECONOMIC OVERVIEW
Haiti is a free market economy with low labor costs and tariff-free access to the US for many of its exports. Two-fifths of all Haitians depend on the agricultural sector, mainly small-scale subsistence farming, which remains vulnerable to damage from frequent natural disasters. Poverty, corruption, vulnerability to natural disasters, and low levels of education for much of the population represent some of the most serious impediments to Haiti’s economic growth. Remittances are the primary source of foreign exchange, equivalent to more than a quarter of GDP, and nearly double the combined value of Haitian exports and foreign direct investment.
Currently the poorest country in the Western Hemisphere, with close to 60% of the population living under the national poverty line, Haiti’s GDP growth rose to 5.5% in 2011 as the Haitian economy began recovering from the devastating January 2010 earthquake that destroyed much of its capital city, Port-au-Prince, and neighboring areas. However, growth slowed to below 2% in 2015 and 2016 as political uncertainty, drought conditions, decreasing foreign aid, and the depreciation of the national currency took a toll on investment and economic growth. Hurricane Matthew, the fiercest Caribbean storm in nearly a decade, made landfall in Haiti on 4 October 2016, with 140 mile-per-hour winds, creating a new humanitarian emergency. An estimated 2.1 million people were affected by the category 4 storm, which caused extensive damage to crops, houses, livestock, and infrastructure across Haiti’s southern peninsula.
US economic engagement under the Caribbean Basin Trade Partnership Act (CBTPA) and the 2008 Haitian Hemispheric Opportunity through Partnership Encouragement Act (HOPE II) have contributed to an increase in apparel exports and investment by providing duty-free access to the US. The Haiti Economic Lift Program (HELP) Act of 2010 extended the CBTPA and HOPE II until 2020, while the Trade Preferences Extension Act of 2015 extended trade benefits provided to Haiti in the HOPE and HELP Acts through September 2025. Apparel sector exports in 2016 reached approximately $850 million and account for over 90% of Haitian exports and more than 10% of the GDP.
Investment in Haiti is hampered by the difficulty of doing business and weak infrastructure, including access to electricity. Haiti's outstanding external debt was cancelled by donor countries following the 2010 earthquake, but has since risen to $2.6 billion as of December 2017, the majority of which is owed to Venezuela under the PetroCaribe program. Although the government has increased its revenue collection, it continues to rely on formal international economic assistance for fiscal sustainability, with over 20% of its annual budget coming from foreign aid or direct budget support.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
|
Legal
Name: |
YOL PAC IMPORT S.A. |
|
Trade
Name: |
YOL PAC IMPORT S.A. YPISA |
|
Reg. Number: |
NA |
|
Date Created: |
2010 |
|
Date Incorporated: |
2010 |
|
Legal Address: |
47, RUE DE LA REUNION PORT AU PRINCE 6120 HAITI |
|
Operative Address: |
47, RUE DE LA REUNION PORT AU PRINCE 6120 HAITI |
|
Telephone:
|
509 3768 1489 |
|
Fax: |
509 3768 1489 |
|
Legal
Form: |
Haitian SA (Limited Liability
Company) |
|
Email: |
NA |
|
Registered
in: |
Haiti |
|
Website:
|
The company does not have a
website |
|
Contact: |
NA |
|
Staff: |
NA |
|
Activity: |
Wholesale and Import |
|
|
|
BANKS
The company does not make its banking data
public |
|
|
|
|
HISTORY
The company was founded in 2010 |
|
|
|
|
|
PRINCIPAL
ACTIVITY |
|
|
YOL PAC IMPORT S.A. is a small company
dedicated to the import and sale of parboiled rice and related products. |
|
|
Products/Services description: |
Parboiled rice and related
products. |
|
Brands: |
NA |
|
Sales are: |
Wholesale |
|
Clients: |
National companies and People
in general |
|
Suppliers: |
Basic India Ltd. India Zhejiang Cathaya International
Co., Ltd. China |
|
Operations area: |
National |
|
The company imports from |
India and China |
|
The company exports to |
No export records |
|
The subject
employs |
NA |
|
Payments:
|
Unknown |
|
|
|
LOCATION
|
|
|
Headquarters
: |
47, RUE DE LA REUNION PORT AU PRINCE 6120 HAITI |
|
Comments: |
NA |
|
Branches: |
The company does not have
branches |
|
Related
Companies: |
NA |
|
|
|
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
This is a private
company. The company does not disclose information on shareholders. We could
not confirm major holders. |
|
Management: |
NA |
|
|
|
FINANCIAL
INFORMATION
|
|
|
The company does not make its financial statements public. Despite our
long search, we could not confirm financial information about the company. |
|
|
|
|
LEGAL
FILINGS
|
|
|
Cases |
No records found |
|
|
|
SUMMARY
|
|
|
YOL PAC IMPORT S.A. is a small company dedicated to
the import and sale of parboiled rice and related products. The company imports from India and China, operating
within national markets. This is an ACTIVE company incorporated in HAITI. |
|
|
|
|
RISK
INFORMATION
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
Unknown |
|
CASH
FLOW |
Normal |
|
STATUS |
ACTIVE |
|
|
|
INTERVIEW
|
|
|
NAME |
NA |
|
POSITION |
NA |
|
COMMENTS |
Despite we tried to contact the
company several times, it did not answer, so we could not confirm further
information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.14 |
|
|
1 |
INR 89.50 |
|
Euro |
1 |
INR 79.43 |
|
HTG |
1 |
INR 1.00 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.