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MIRA INFORM REPORT
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Report No. : |
492145 |
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Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GRUPO SIDAT S.A |
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Registered Office : |
Calle 2da Vista Hermosa Edificio Yasir Oficina 1 P.O. Box 0816-05956 |
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Country : |
Panama |
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Date of Incorporation : |
26.04.2002 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
The Company is dedicated to the export of wood items. |
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No. of Employees : |
10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 and Panama is a center for offshore banking. Panama's transportation and logistics services sectors, along with infrastructure development projects, have boosted economic growth; however, public debt surpassed $37 billion in 2016 because of excessive government spending and public works projects. The US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011, and entered into force in October 2012.
Future growth will be bolstered by the Panama Canal expansion project that began in 2007 and was completed in 2016 at a cost of $5.3 billion - about 10-15% of current GDP. The expansion project more than doubled the Canal's capacity, enabling it to accommodate high-capacity vessels such as tankers and neopanamax vessels that are too large to traverse the existing canal. The US and China are the top users of the Canal.
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.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal
Name: |
GRUPO SIDAT S.A |
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Trade
Names: |
416262-342021 |
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ID: |
(MERCANTIL) Folio Nº 416262 (S) |
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Date
Created: |
2002 |
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Date
Incorporated: |
26/04/2002 |
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Legal
Address: |
PANAMA |
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Operative
Address: |
Calle 2da Vista Hermosa Edificio Yasir Oficina 1 P.O. BOX 0816-05956
Panama |
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Telephone:
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(507) 261-3240 (507) 607-00786 |
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Fax: |
(507) 261-3240 |
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Legal
Form: |
SOCIEDAD ANONIMA |
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Email: |
gruposidat@cwpanama.net |
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Registered
in: |
PANAMA |
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Website:
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No website |
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Contact: |
Subscriber ILYASHBHAI AHMEDBHAI SIDAT BHAYAT |
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Staff: |
10 |
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Activity: |
NAICS 1: Other Miscellaneous Durable Goods Merchant Wholesalers NAICS 2: Recyclable Material Merchant Wholesalers SIC 1: Wood And Wood By-Products SIC 2: Ferrous Metal Scrap And Waste |
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BANKS
The company does not make its banking data public |
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HISTORY
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The Company was founded in 2002 |
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PRINCIPAL
ACTIVITY
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The Company is dedicated to the export of Wood items. |
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Products/Services description: |
Packaging materials and containers, Wood Packing Materials |
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Brands: |
Grupo SIDAT |
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Sales are: |
Wholesale |
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Clients: |
Shah Traders India It only exports to India, and is currently dealing with a new possible
customer’s request from said country. |
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Suppliers: |
Local suppliers from Panama |
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Operations area: |
International |
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The company imports from |
No import records |
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The company exports to |
India |
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The subject employs |
10 Employees |
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Payments: |
The Company mainly opertaes with suppliers paying by check. |
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LOCATION
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Headquarters : |
Calle 2da Vista Hermosa Edificio Yasir Oficina 1
P.O. BOX 0816-05956 Panama |
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Comments on Address: |
NA |
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Branches: |
The Company does not have branches |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
USD 10,000.00 |
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Shareholders: |
Major holder: ILYASHBHAI AHMEDBHAI SIDAT BHAYAT |
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Management: |
Subscriber ILYASHBHAI AHMEDBHAI SIDAT BHAYAT Subscriber SAMIMA YUSUF SADAK DE SIDAT director ILYASHBHAI AHMEDBHAI SIDAT BHAYAT director SAMIMA YUSUF SADAK DE SIDAT director SAKILA YUSUF SADAK President ILYASHBHAI AHMEDBHAI SIDAT BHAYAT Vice president SAMIMA YUSUF SADAK DE SIDAT Treasurer SAKILA YUSUF SADAK Secretary SAMIMA YUSUF SADAK DE SIDAT Resident Agent DAVID SALAMIN PEREZ |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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Foreign trade in the last 5 years: Imports: Does not register records. Exports: Records: 5 US $: 64,000 |
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LEGAL
FILINGS
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Lawsuits |
NA |
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SUMMARY
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The Company is dedicated to the export of Wood items. It only exports to India, and is currently dealing with a new possible
customer’s request from said country. It has 16 years of experience in the market, with a low commercial
profile and 10 employees. The company is ACTIVE in Panama, with no negative records. |
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RISK
INFORMATION
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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 |
Ricardo Roman |
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POSITION |
Manager |
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COMMENTS |
He confirmed address, ID, experience, managers, activity, payment
terms, clients, suppliers, products, brands, e-mail and staff. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.91 |
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1 |
INR 90.31 |
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Euro |
1 |
INR 80.17 |
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PAB |
1 |
INR 64.41 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.