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MIRA INFORM REPORT
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Report No. : |
494864 |
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Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
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Name : |
FATRAKA
CONSTRUCCION SRL |
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Registered Office : |
Av. Independencia, Km. 9 1/2, Num. 5 |
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Country : |
Dominican Republic |
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Date of Incorporation : |
10.09.2015 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Provides construction services. |
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No. of Employees : |
Not Available |
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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Dominican Republic |
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 |
DOMINICAN REPUBLIC - ECONOMIC OVERVIEW
The Dominican Republic was for most of its history primarily 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 construction, 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, one of the largest gold mines in the world. 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, a large informal sector, and underemployment remain important long-term challenges.
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 Central America-Dominican Republic Free Trade Agreement came into force in March 2007, boosting investment and manufacturing exports.
The Dominican Republic's economy rebounded from the global recession in 2010-16, and the fiscal situation is improving. A tax reform package passed in November 2012, a reduction in government spending, and lower energy costs helped to narrow the central government budget deficit from 6.6% of GDP in 2012 to 2.6% in 2016. 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 4% of GDP. Since 2015 the Dominican Republic has posted the fastest economic growth in Latin America.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
FATRAKA CONSTRUCCION SRL |
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Trade Names: |
FATRAKA CONSTRUCCION |
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ID: |
131-33431-8 (RNC) |
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Date Created: |
2015 |
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Date Incorporated: |
10 September 2015 |
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Legal Address: |
AV. INDEPENDENCIA, KM. 9 1/2, NUM. 5 Dominican Republic |
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Operative Address: |
AVE SARASOTA NO. 39 SARASOTA BUSINESS TOWER CENTER OFFICE 401, SANTO DOMINGO NATIONAL DISTRICT, DOMINICAN REPUBLIC |
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Telephone: |
NA |
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Fax: |
NA |
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Legal Form: |
LIMITED LIABILITY COMPANY |
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Email: |
- |
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Registered in: |
DOMINICAN REPUBLIC |
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Website: |
The company does not have a website |
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Contact: |
JAVIER PALACIOS – Executive Director |
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Staff: |
- |
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Activity: |
NAICS Code 236220 Commercial and Institutional
Building Construction |
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Banks: |
The company does not disclose its banking details. |
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History: |
The company was founded in 2015. |
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Key Developments: |
Resources were granted for the purchase of equipment
for a sugar plant A check of RD $ 49,707,000.00 was delivered
yesterday by the State Sugar Council (CEA) to the company Fatraka
Construccion, winner of the national public tender for the purchase of equipment
and materials, for the production plant of Sugar Panela, under construction
in Chirino , province of Monte Plata. The check given to the executive director of the
company Fatraka and to the representative of the company in the country,
Javier Palacios, corresponds to the advance of 20 percent of a total amount
of RD $ 248,535,000.00, destined for the acquisition of goods and services
connected contracted. During the delivery ceremony, the director of CEA,
Pedro Mota Pacheco, informed that the referred project will have a milling
capacity of 500 short tons of cane per day and will produce panela in molded
and granulated form as well as honey and electric energy for self-consumption
and sale. Pacheco explained that the design of the panela
production plant also includes the production of sugar. At the time of the delivery of resources, held at
the headquarters of the entity, the executive director of the CEA pointed out
that the Caña Esmeralda Processor, in Monte Plata, will generate more than
3,000 direct and indirect jobs in agricultural activity, as well as about 186
direct jobs in industrial activity. The official stressed that this project, which is
the result of the surprise visit made by President Danilo Medina Sánchez to
settlers from the Monte Plata province, is to boost the sugar production in
the Dominican Republic. According to statements made last year, the physical
plant of the Caña Esmeralda Processor is built with resources transferred
from the Patrimonial Fund of the Reformed Companies (FONPER), while the State
Sugar Council would be responsible for the development of the project and the
start of production of 16 thousand cane tasks with an investment of RD $
72,000,000. |
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PRINCIPAL
ACTIVITY
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Fatraka Construccion Srl provides construction
services. |
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Products/Services description: |
Fatraka Construccion Srl provides construction
services. |
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Brands: |
FATRAKA |
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Sales are: |
Wholesale |
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Clients: |
Several Industries |
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Suppliers: |
NA |
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Operations area: |
National |
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The subject employs |
NA |
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Payments: |
Slow but Correct |
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LOCATION
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Headquarters : |
AVE SARASOTA NO. 39 SARASOTA BUSINESS TOWER CENTER OFFICE 401, SANTO DOMINGO NATIONAL DISTRICT, DOMINICAN REPUBLIC |
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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: |
NA |
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Shareholders: |
The company does not disclose information on
shareholders. We were not able to confirm major holders. |
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Management: |
JAVIER PALACIOS – Executive Director FRANCISCO ALEJANDRO LEBREAULT ACEVEDO JUANA ELSA ACEVEDO MEDINA |
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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 records found. |
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SUMMARY
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Founded in 2015, Fatraka Construccion SRL is an
organization in the Commercial and Institutional Building Construction Industry
headquartered in Dominican Republic. The company operates nationally. It is ACTIVE in
business with no negative records. The company shows low commercial profile, not being
listed with yellow pages or major credit bureaus. |
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 |
- |
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POSITION |
- |
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COMMENTS |
Due to the company`s low commercial profile, we were
not able to find a telephone number. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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1 |
INR 89.70 |
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Euro |
1 |
INR 79.50 |
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DOP |
1 |
INR 1.32 |
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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VAR |
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Report Prepared
by : |
DNS |
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
·
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.