MIRA INFORM REPORT

Report No. :	507567
Report Date :	08.05.2018

IDENTIFICATION DETAILS

Name :	MARFAT MARITIME CORP.
Registered Office :	Torre ADR, Piso 13, Avenida Samuel Lewis & Calle 58. Obarrio, Ciudad de Panamá, República de Panamá (Resident Agent)
Country :	Panama
Date of Incorporation :	14.05.2008
Legal Form :	Anonymous Society
Line of Business :	Subject is an International Business Company incorporated in Panama for tax purposes.
No. of Employees :	Not available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	International Business Company
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 (30.09.2017)	Current Rating (31.12.2017)
Panama	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

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.

Source : CIA

Statutory Information
Legal Name	MARFAT MARITIME CORP.
Trade Name	MARFAT MARITIME CORP.
ID	REG. NUMBER
ID Details	(MERCANTIL) Folio Nº 615824 (S)
Creation Date	2008
Incorporation Date	14/05/2008
Legal Address	Torre ADR, Piso 13, Avenida Samuel Lewis & Calle 58. Obarrio, Ciudad de Panamá, República de Panamá (Resident Agent)
Operative Address	Torre ADR, Piso 13, Avenida Samuel Lewis & Calle 58. Obarrio, Ciudad de Panamá, República de Panamá (Resident Agent)
Telephone	+507 269-2255; 264-8911 (Resident Agent)
Fax	+507 269-1552; 264-7033 (Resident Agent)
Legal Form	Anonymous Society
E-Mail	info@shirleylaw.com, shirleylaw@cwpanama.net (Resident Agent)
Registered In	PANAMA
Website	www.shirleylaw.com (Resident Agent)
Contact	SHIRLEY Y ASOCIADOS, Resident Agent
Staff	0 / The company does not have any employee in Panama
Activity	IBC

Banks
Name of Bank	Reported Amount
There are not informed banks
Description	The company does not make its banking data public.

History
History	The company was founded in 2008.
Key Developments	NA
Parent Company	NA

Principal Activity

General Description

MARFAT MARITIME CORP. is an International Business Company incorporated in Panama for tax purposes.

The company may conduct international trade, investment activities, as a special purpose entity, by professionals and for asset protection.

It may be involved in buying and selling goods and services, hold bank accounts and operate businesses.

It is not registered in Panama as being a local business company.

It is not listed with the Panama commercial pages.

Service/Product Description

NA

Sales

NA

Operations Area

International

Employees

0 / The company does not have any employee in Panama

Payments With Suppliers

Unknown

Brands
Brand	Comments
There are not informed brands

Clients
Name of Client	Country	Comments
There are not informed clients

Comments

The company`s main clients include international companies and private customers.

Suppliers
Supplier Name	Country	Comments
There are not infomed suppliers

Comments

NA

Location
Headquarters	Torre ADR, Piso 13, Avenida Samuel Lewis & Calle 58. Obarrio, Ciudad de Panamá, República de Panamá (Resident Agent)
Branches	The company does not have branches

Group Structure and Subsidiary Companies
Listed at the stock exchange	NO
Capital	USD 10,000.00
Shareholders (%)	This is a private company. The company does not disclose information on shareholders. Despite our long search, we could not confirm major holders.
Management	YARIELA GAMBOA, Director and President DAMARIS FERNANDEZ, Director and Secretary ROXANA ALVARADO, Director and Treasurer SHIRLEY Y ASOCIADOS, Resident Agent Luis Shirley, Resident Agent ALEX SANCHEZ, Subscriber ADELINA BARRIA, Subscriber
Subsidiary Companies	NA
Related Companies	Marfat Maritime Corp ACTIVITY: This company primarily focuses on providing sellers with support in every step of every transaction. WEBSITE: www.marfatmaritime.com (not working) LOCATION: Regional Offices: New York, Dubai, Pakistan, India and Bangladesh

Financial Information
General Description	The company does not make its financial statements public. Despite our long search, we could not confirm financial figures for the subject.

Legal Filings
Lawsuits	No found
Trademarks	No records found
Patents Registered	No records found
Renewals	Entry Number / Seat No.: 86985/2008 (0) Type of entry: Registration Type of Procedure: PACT, Qualification Rights Status: Ready for delivery as Expended Procedure

Summary

Summary

Founded in 2008, MARFAT MARITIME CORP. is an International Business Company incorporated in Panama for tax purposes. The company may conduct international trade, investment activities, as a special purpose entity, by professionals and for asset protection. It may be involved in buying and selling goods and services, hold bank accounts and operate businesses. It is not registered in Panama as being a local business company. It is not listed with the Panama commercial pages. This has been an ACTIVE company incorporated in PANAMA in 2008.

Risk Information
Debts	Controlled
Payments	Unknown
Cash Flow	Normal
State	ACTIVE

Interview
First Name	NA
Position	Operator
Comments	The person contacted confirmed the details of the Resident Agent. However, she explained she was not allowed to provide information about the company through the phone, so she provided this email for inquiries: info@shirleylaw.com

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.11
UK Pound	1	INR 90.85
Euro	1	INR 80.12
USD	1	INR 67.07

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	SYL

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.