|
|
|
MIRA INFORM REPORT
|
Report No. : |
485690 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
QUARTAS NINAS ENTERPRISES INC. |
|
|
|
|
Registered Office : |
Rm 310 Intramuros Corporate Plaza, Recoletos St, Intramuros, City of Manila |
|
|
|
|
Country : |
Philippines |
|
|
|
|
Date of Incorporation : |
21.11.2013 |
|
|
|
|
Legal Form : |
Private Limited liability Company |
|
|
|
|
Line of Business : |
The company continue to engage in trading business, such as importation, exportation, buying & selling, distribution and marketing on wholesale and retail. Its product lines include – Oleo Chemicals, Coconut products, Coconut machineries, Food machineries, Refining machineries which are marketed in domestically, and in South Asia, Central America, Western Europe, Eastern Asia |
|
|
|
|
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) |
|
Philippines |
A2 |
A2 |
|
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 |
PHILIPPINES - ECONOMIC OVERVIEW
The economy has been relatively resilient to global economic shocks due
to less exposure to troubled international securities, lower dependence on
exports, relatively resilient domestic consumption, large remittances from
about 10 million overseas Filipino workers and migrants, and a rapidly
expanding outsourcing industry. During 2016, the current account balance
narrowed to its lowest level since the 2008 global financial crisis, but
nevertheless mustered a surplus for a 14th consecutive year. International
reserves remain at comfortable levels and the banking system is stable.
Efforts to improve tax administration and expenditures management have
helped ease the Philippines' debt burden and tight fiscal situation. The
Philippines received investment-grade credit ratings on its sovereign debt
under the former AQUINO administration and has had little difficulty financing
its budget deficits. However, weak absorptive capacity and implementation
bottlenecks have prevented the government from maximizing its expenditure
plans. Although it has improved, the low tax-to-GDP ratio remains a constraint
to supporting increasingly higher spending levels and sustaining high and
inclusive growth over the longer term.
Economic growth has accelerated, averaging 6.1% per year from 2011 to
2016, compared with 4.5% under the MACAPAGAL-ARROYO government; and
competitiveness rankings have improved. Although 2016 saw a record year for net
foreign direct investment inflows, FDI to the Philippines has continued to lag
regional peers, in part because the Philippine constitution and other laws
restrict foreign ownership in important activities/sectors - such as land
ownership and public utilities.
Although the economy grew at a faster pace under the AQUINO government,
challenges to achieving more inclusive growth remain. Wealth is concentrated in
the hands of the rich. The unemployment rate declined from 7.3% to 5.5% between
2010 and 2016 but the jobs are low paying and tedious. Underemployment hovers
at around 18% to 19% of the employed. At least 40% of the employed work in the
informal sector. Poverty afflicts more than a fifth of the population. More
than 60% of the poor reside in rural areas, where the incidence of poverty (about
30%) is more severe - a challenge to raising rural farm and non-farm incomes.
Continued efforts are needed to improve governance, the judicial system, the
regulatory environment, the infrastructure, and the overall ease of doing
business.
2016 saw the election of President Rodrigo DUTERTE, who has pledged to
make inclusive growth and poverty reduction his top priority. DUTERTE believes
that illegal drug use, crime and corruption are key barriers to economic
development among the lower income class. This administration wants to reduce
the poverty rate to 14% and graduate the economy to upper-middle income status
by the end of President DUTERTE’s term in 2022. Key themes under the
government’s Ten-Point Socioeconomic Agenda include continuity of macroeconomic
policy, tax reform, higher investments in infrastructure and human capital
development, and improving competitiveness and the overall ease of doing
business. The administration has vowed to address spending bottlenecks and is
pushing for congressional passage of a Comprehensive Tax Reform Program to help
finance more aggressive infrastructure and social spending, starting in 2018.
The government also supports relaxing restrictions on foreign ownership, except
for land.
|
Source
: CIA |
note
In absence of company financials, no credit limit could be recommended.
ANTECEDENT
INFORMATION
Company: QUARTAS NINAS ENTERPRISES INC.
Address: RM
310 INTRANUROS CORPORATE PLAZA, RECOLETOS ST.,
INTRAMUROS, MANILA
Country: Philippines
Service
Type: Normal
FINDINGS
We conducted research and investigation on QUARTAS NINAS ENTERPRISES
INC. and showed the following, viz:
VERIFICATION WITH SECURITIES & EXCHANGE COMMISSION (SEC): QUARTAS NINAS ENTERPRISES
INC.
Legal Entity - Private Limited liability Company -
REGISTRATION – (Per General Information Sheet (GIS) dated
Nov. 08, 2016)
a) Certificate
No. : CS201322347
b) Date : November 21, 2013
c) Term : Fifty (50) years
d) Company
Type : Stock Corporation
e) TIN No. : 008 483 282
g)
Telefax No. : (02) 254 9729
h)
Email : quartas_organica@yahoo.com
Principal Office/Busines Address:
Rm 310 Intramuros Corporate Plaza, Recoletos St.,
Intramuros, City of Manila
(Note: Currency in Philippine
Peso, unless otherwise specified)
-
CAPITALIZATION -
Authorized
Capital Stock Type of
Number of Par Value / Amount
Shares Shares Shares Paid
Authorized
Capital Stock Common 10,000 100.00 1,000,000.
vvvvvvvvv
Subscribed
& Paid-Up 2,500 250,000.
vvvvvvvvvv
-
PRIMARY PURPOSE:
Importing, exporting, buying & selling, distributing, marketing at
wholesale
and retail.
STOCKHOLDERS/DIRECTORS/OFFICERS
|
Name / Nationality |
Position |
Amount
Paid Up |
|
Danilo
V. Soleta, Filipino |
Chairman/CEO/President |
105,000. |
|
Jovylyn
S. Palabra, Filipino |
Director,
Sales & Mktg. |
10,000. |
|
Maria
Evelyn Q. Soleta, Filipino |
Director,
Finance |
25,000. |
|
Charito
P. Dizon, Filipino |
Vice
President |
2,000. |
|
Allan
V. Soleta, Filipino |
VP
Marketing |
25,000. |
|
Thelma
Vinarao, Filipino |
Corporate
Secretary |
25,000. |
|
Franco
Frenete, Canadian |
|
25,000. |
|
Raul B.
Lasala, Filipino |
|
25,000. |
|
Andrea
Dane Q. Soleta, Filipino |
|
8,000. |
|
|
TOTAL |
250,000.
Vvvvvvv |
BUSINESS ACTIVITY
Since inception, the company continue to engage in trading business, such as importation, exportation, buying & selling, distribution and marketing on wholesale and retail. Its product lines include
– Oleo Chemicals, Coconut products, Coconut machineries, Food machineries, Refining machineries which are marketed in domestically, and in South Asia, Central America, Western Europe, Eastern Asia
Selected
Products are
COCONUT SUGAR; COCONUT FLOUR; RBD COCONUT OIL; CRUDE GLYCERIN; COCONUT
FATTY ACID DISTILLATE; COPRA
EXPELLER MEAL or COPRA CAKE ; COCONUT ACID OIL;
REFINED GLYCERINE USP; PALM
COCONUT SUGAR
Organic Coconut Sugar; Copra
Meal; Copra Cake; Substitute
Sweetener Natural Sweetener; Coconut
Nectar; ORGANIC
PANCAKE SYRUP; COCONUT
HONEY.
PAPER IBC TOTE 1000l; Corrugated ibc tote 1000l; Coconut Milk
Screw Press Extracting Machine;
Coconut Milk Extractor; Pure Coconut Juice Extracting
Machine; E Coconut Oil Pretreatment
Screw
Press Extracting Machine; Coconut Dehusking Machine.
Coconut Deshelling Machine; Coconut Meat Grinding Machine; Coconut Water Extracting
Machine;
Industrial Liquid Mixture Separation Disc Stack Centrifuge; Industrial liquid mixture separation tubular
separator; Industrial Liquid Mixture Separation
Horizontal Decanter Centrifuge
FINANCIAL CONDITION
NOT AVAILABLE FROM SEC AND OTHER REGULAR RELIABLE
SOURCES.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.74 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
|
PHP |
1 |
INR 1.26 |
Note : Above are approximate rates obtained from sources
believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TPT |
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.