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MIRA INFORM REPORT
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Report No. : |
497604 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
VICTORIUS INFRA PHILS. INC. |
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Registered Office : |
Unit 415 Freeport Zone, SBMA Phils. 2222 |
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Country : |
Philippines |
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Date of Incorporation : |
31.03.2016 |
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Legal Form : |
Private Limited Liability Corporation |
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Line of Business : |
To engage in, conduct, carry on the business of importing, trading at wholesale, rentals and other allied disposition of all kinds of heavy equipment & machineries. |
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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 : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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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Philippines |
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 |
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
services industry. During 2017, the current account balance fell into the
negative range, the first time since the 2008 global financial crisis, in part
due to an ambitious new infrastructure spending program announced this year.
However, 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 over 6% per year from 2011 to
2017, 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
limit foreign investment and restrict foreign ownership in important
activities/sectors - such as land ownership and public utilities.
Although the economy grew at a rapid 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 underemployment hovers at around 18% to 19% of the employed
population. At least 40% of the employed work in the informal sector. Poverty
afflicts more than a fifth of the total population but is as high as 75% in
some areas of the southern Philippines. 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. The administration wants to reduce the poverty rate to 17% 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 sees infrastructure shortcomings as a key barrier to sustained
economic growth and has pledged to spend $165 billion on infrastructure by
2022. However, the need to finance rehabilitation and reconstruction efforts in
the southern region of Mindanao following the 2017 Marawi City siege probably
will inhibit other spending on infrastructure.
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Source
: CIA |
ANTECEDENT
INFORMATION
Company: VICTORIUS INFRA PHILS. INC.
Address:
Unit 415 B The Venue Building,
Lot C 5, Commercial Area, SBGP
Phase 1, Subic Bay Freeport Zone, SBMA Phils. 2222
Country: Philippines
Telephone
No.: 047 250 3837 / cp #
+639233595212
Service
Type: Normal
FINDINGS:
We conducted research and investigation on VICTORIUS INFRA PHILS. INC. and
showed the following, viz:
VERIFICATION WITH SECURITIES & EXCHANGE COMMISSION (SEC): VICTORIUS INFRA PHILS. INC.
LEGAL ENTITY - Private Limited Liability Corporation -
REGISTRATION – (Per General Information Sheet (GIS), filed April
04, 2016.)
a) Certificate
No. : CS201606476
b) Date : March 31, 2016
c) Term : Fifty (50) years
d) Company
Type : Stock Corporation
e) Corp. Tax ID
No. : 009 261 670
Address: Unit 415 B The Venue Building, Lot C 5, Commercial Area,
SBGP Phase 1, Subic Bay
Freeport Zone,
Olongapo, Zambales
(Note: Currency in Philippine
Peso, unless otherwise specified)
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CAPITALIZATION - (As of 2016)
Authorized
Capital Stock: Type of Shares No. of Share Par Value Amount
Common
10,000 10. 10,000,000.
vvvvvvvvvv
Fully Subscribed
& Paid Up:
10,000 10,000,000.
vvvvvvvvvv
PRIMARY PURPOSE: To engage in, conduct, carry on the business
of importing, trading at
Wholesale, rentals
and other allied disposition of all kinds of heavy equipment & machineries.
STOCKHOLDERS/DIRECTORS/OFFICERS
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Name / Nationality |
Position |
Amount Paid |
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Rachan
Hanbal Krishnegowda, Indian |
Chairman/
President |
685,000. |
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Ramesh
Kumar Mudda, Indian |
Director |
4,400,000. |
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Nagaraja
Gouda Malayam, Indian |
Director |
3,500,000. |
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Vismanath
Mali Patil, Indian |
Treasurer |
685,000. |
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Konda
Praneeth Kumar Reddy, Indian |
Director |
100,000. |
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Geraldine
D. Antonio, Filipino |
Corpprate
Secretary |
NIL |
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TOTAL |
10,000,000. vvvvvvvvvvvv |
FINANCIAL CONDITION
There is no recent official report or record
pertaining to the financial status of Subject firm, from SEC & from our
regular sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.87 |
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1 |
INR 90.49 |
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Euro |
1 |
INR 79.91 |
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PHP |
1 |
INR 1.25 |
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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PRI |
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Report Prepared
by : |
TPT |
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
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Promoters
/ Management background
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Payment
record
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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.