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MIRA INFORM REPORT
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Report No. : |
485660 |
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Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
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Name : |
CINNABAR NETWORK ASSETS INC. |
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Registered Office : |
Paitilla Office Tower Office 707 A, Panama City |
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Country : |
Panama |
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Date of Incorporation : |
08.03.2007 |
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Legal Form : |
Anonymous Society |
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Line of Business : |
Subject is dedicated to the Wholesale of Textile 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 : |
No Complaints |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 will more than double 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: |
CINNABAR NETWORK ASSETS INC. |
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Trade Names: |
CINNABAR NETWORK ASSETS INC. |
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ID: |
558358 |
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Date Created: |
2007 |
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Date Incorporated: |
8 March 2007 |
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Legal Address: |
PROVINCIA PANAMÁ Panama |
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Operative Address: |
Paitilla Office Tower Office 707 A Panama City Panama |
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Telephone: |
+0507 396 2191 |
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Fax: |
+507 2633079 |
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Legal Form: |
Anonymous Society |
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Email: |
- |
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Registered in: |
PANAMA |
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Website: |
The company does not have a website. |
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Contact: |
RUTH GIANNINA DE SANCHEZ - Treasurer |
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Staff: |
10 |
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Activity: |
NAICS Code 313310 Textile and Fabric Finishing Mills SIC Code 2299 Textile Goods, Not Elsewhere Classified |
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Banks: |
The company does not disclose its banking details. |
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History: |
The company was founded in 2007. |
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PRINCIPAL
ACTIVITY
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Cinnabar Network Assets Inc. is dedicated to the Wholesale of Textile
items. |
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Products/Services description: |
The company offers polyester cotton, polyester viscose, and cotton
lycra. |
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Brands: |
The company does not have any brands of its own. |
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Sales are: |
Wholesale |
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Clients: |
Manufacturas Eliot S.A. |
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Suppliers: |
Cixi City Rong Wei Textile Co.Ltd Gimatex Industries Pvt.Ltd Zagis Sa De Cv Fibers Mexico Holdings S. De R.L. De C.V. |
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Operations area: |
National and International |
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The company imports from |
CHINA INDIA MEXICO |
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The company exports to |
COLOMBIA |
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The subject employs |
10 employees |
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Payments: |
No complaints |
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LOCATION
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Headquarters : |
Paitilla Office Tower Office 707 A Panama City Panama |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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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 USD |
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Shareholders: |
This is a private company. We were not able to confirm major holders. |
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Management: |
RUTH GIANNINA DE SANCHEZ - Treasurer DANY SHABETAI GUINDI MICHAAN – President LUZ ARCIA – Secretary YESSINIA AGUDO - Director JULIO ANTONIO QUIJANO URRIOLA - Subscriber |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. Despite our long search, we were not able
to confirm financial figures for the subject. |
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LEGAL
FILINGS
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CASES |
No found. |
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RENEWAL HISTORY |
Entry Number / Seat Number Type of entry Type of Procedure State 38038/2007 (0) Registration PACT, Qualification Rights Ready for
delivery as Exhausted Procedure 105557/2012 (0) Registration MODIFICATIONS TO THE CONSTITUTION OF THE
COMPANY, Qualification Rights Ready for delivery as Exhausted Procedure 17966/2014 (0) Registration MODIFICATION TO THE CONSTITUTION OF THE
COMPANY OR FOUNDATION, Qualification Rights Ready for delivery as Exhausted
Procedure 332732/2017 (0) Commercial Companies Act Registration, Qualification
Rights Delivered as Processed Out of Stock |
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SUMMARY
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Founded in 2007, Cinnabar Network Assets Inc. is an organization in
the Textile Goods Industry headquartered in Panama City, Panama. The company operates nationally and internationally, mainly importing
from China, India and Mexico. It is ACTIVE in business with no negative
records. The company shows low commercial profile, not being listed with major
credit bureaus. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Ruth |
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POSITION |
Treasurer |
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COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company and the number of
employees. She was reluctant to provide further information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.74 |
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1 |
INR 86.01 |
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Euro |
1 |
INR 76.14 |
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PAB |
1 |
INR 63.63 |
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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NIY |
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Report Prepared
by : |
SYL |
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.