MIRA INFORM REPORT
|
Report Date : |
28.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
PERU PIMA S.A. |
|
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|
Registered Office : |
Argentina 2747, Zona Industrial, Lima |
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Country : |
Peru |
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Date of Incorporation : |
18.03.1986 |
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Com. Reg. No.: |
Record Card 282, Entry 12377 (30.09.1986) |
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Legal Form : |
Joint Stock Company |
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|
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Line of Business : |
Manufacture of fabrics,
dyeing and printing, threads |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$.300,000 Dollars |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment
Behaviour : |
Usually 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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Peru |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION
|
CORRECT
COMPANY NAME |
:
|
PERU PIMA S.A. |
|
TRADE
NAME |
:
|
"PEPISA" |
|
TAXPAYER
REGISTRATION |
:
|
RUC 20122742114 |
|
MAIN
ADDRESS |
:
|
Argentina 2747, Zona
Industrial, |
|
CITY |
:
|
Lima |
|
DEPARTMENT/STATE |
:
|
Lima |
|
COUNTRY |
:
|
PERU |
|
TELEPHONE |
:
|
6196868 |
|
FAX |
:
|
6196870 |
|
WEB
SITE |
:
|
www.perupima.com |
SUMMARY
FOUNDATION :
1986
LAST CAPITAL :
S/.6,314,291.= Nuevos Soles
SALES :
0.00
EMPLOYEES :
621
PAYMENTS :
Usually to terms/good
CHIEF EXECUTIVE :
VARON KAPPARI, DANIEL FELIX
DISPOSITION :
PARTIAL (Full information but no figures).
LEGAL
BACKGROUNDS
|
LEGAL
ESTATUS |
:
|
Joint-Stock Company |
|
DATE
OF INCORPORATION |
:
|
18MAR1986 |
|
START
OF OPERATIONS |
:
|
01/11/1991 |
|
REGISTERED
IN |
:
|
Lima |
|
NOTARY
OFFICE |
:
|
Jaime Murguía Cavero |
|
DURATION |
:
|
Indefinite |
|
REGISTRATION |
:
|
Record Card 282, Entry 12377
(30.09.1986) |
|
INITIAL
CAPITAL |
:
|
N/A |
|
CURRENT
PAID-IN CAPITAL |
:
|
S/.6,314,291.= Nuevos Soles |
|
LAST
CAPITAL INCREASE |
:
|
N/A |
|
SHAREHOLDERS'
EQUITY |
:
|
N/A |
|
TYPE
OF SHARES |
:
|
Registered |
|
LISTED
AT STOCK EXCHANGE |
:
|
No |
|
SHARE
VALUE |
:
|
N/A |
|
CURRENT
EXCHANGE RATE |
:
|
S/.2.75 per USD1.00 |
|
MEMBERSHIP |
:
|
N/A |
COMMENTS
.-
On 21.08.1997, Subject Company merged SUDAMERICANA
DE TEJIDOS SA and INMOBILIARIA SANTA MARIELLA SA, which were dissolved without
being liquidated.
According to SUNAT (National Tax Authority), the
Company was incorporated to the Regimen of General Sales Tax Withholding Agent
(R.S.082-2011) as from 01.06.2002.
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
OWNERSHIP
% |
|
VARON KAPPARI, DANIEL FELIX |
Executive President |
68% |
|
ROTSTAIN ZIMMER, STEVEN |
Sales Manager/Director |
20% |
|
MANNARELLI DONGO SORIA, JUNO
ENRICO |
Product. Manager/Director |
12% |
|
SERPA FARFAN, JOSE LUIS |
Internal Auditor |
|
|
VELASQUEZ, JULIO |
Accountant |
|
WHO
IS WHO?
VARON
KAPPARI, DANIEL FELIX
NATIONALITY : Peruvian
BORN : 04MAY1957
DOC OF IDENT. : DNI 08232213
TAX ID : 10082322138
PROFESSION : Business Administrator (Catholic University)
HOME ADDRESS : Las Palomas 270 La Pradera, La Molina, Lima
TLF : 326.2060
CIVIL STATUS : Married to Marcela Dongo Soria
ROTSTAIN
ZIMMER, STEVEN
NATIONALITY : Peruvian
BORN : 25JUN1968
DOC OF IDENT. : DNI 10266675
PROFESSION : Engineer
HOME ADDRESS : Bolognesi 241 Dpto G, Miraflores, Lima
TLF : 446.8784
CIVIL STATUS : Single
MANNARELLI
DONGO SORIA, JUNO ENRICO
NATIONALITY : Peruvian
DOC OF IDENT. : DNI 09339491
SERPA
FARFAN, JOSE LUIS
NATIONALITY : Peruvian
DOC OF IDENT. : DNI 08101795
HiSTORY
Charter Members:
Jaime Antonio Ortiz Rivero, Walter César Ortiz Rivero and Manuel Eduardo
Carrillo Otiniano.
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
AX. REG. |
RELATION |
|
FABRITEX PERUANA S.A. |
PERU |
20117130500 |
Related |
|
PERU CUPS S.A. |
PERU |
20380821240 |
Subsidiary |
BUSINESS
MAIN
ACTIVITY .-
Manufacture of fabrics, dyeing and printing,
threads.
Dyeing and printing service in plain weave fabrics.
Besides, the Company offers textile dyeing service.
IMPORT : Yes
Austria,
Belgium, Brazil, China, Colombia, Czech Rep., Germany, India, Indonesia
Ireland,
Italy, Holland, Spain, Switzerland, Sweden, Taiwan, Thailand, UK, USA
Annual Imports in US$ (CIF) :
Year
Monto
2011 3,609,943.00
2010 2,246,496.00
2009 4,560,800.00
2008 8,274,702.00
2007 5,227,713.00
2006 3,204,120.00
EXPORT : Yes
Colombia
and USA; letters of credit
Annual Exports in US$ (FOB) :
Year
Monto
2011 2,738,457.00
2010 8,395,214.00
2009 6,026,647.00
2008 6,621,583.00
2007 5,824,911.00
2006 3,639,106.00
|
%
CASH SALES/METHOD |
:
|
30% |
|
%
CREDIT SALES/TERMS |
:
|
70% (at 30, 45, 60 and 90
days) |
|
%
FOREIGN SALES (COUNTRIES) |
:
|
10% |
|
%
DOMESTIC PURCHASES |
:
|
N/A |
|
%
FOREIGN PURCHASES |
:
|
On 21.08.1997, Subject
Company merged SUDAMERICANA DE TEJIDOS SA and INMOBILIARIA SANTA MARIELLA SA,
which were dissolved without being liquidated. According to SUNAT (National Tax
Authority), the Company was incorporated to the Regimen of General Sales Tax
Withholding Agent (R.S.082-2011) as from 01.06.2002. |
|
SELLING
TERRITORY |
:
|
Lima (90%) |
|
EMPLOYEES |
:
|
621 |
LOCATION
.-
|
Premises |
:
|
Own |
|
Monthly
Amount |
:
|
N/A |
|
Time
Occupied |
:
|
N/A |
|
Area |
:
|
N/A |
|
Floors |
:
|
N/A |
Remarks and other Premises .-
Headquarters, production plant operate at the above
address. Area covers 2,400 m2, located at industrial area.
Until 13.01.1997 they were located at Av.
Maquinarias 2645, Lima.
Plant No.2:
Av. Argentina 5138, Callao 1. Rented premises with a surface area of 8,500
m2 and a built area of 8,000 m2.
Business Premises:
- Calle Lizardo Alzamora 242, San Isidro, Lima 27 -
Lima.
- Luis Giribaldi 736, La Victoria - Lima.
COMMENTS .-
Business Purpose: The Company has been created to
be engaged in the buying and selling of goods, basically cotton and services,
disposal of property, real estate, etc.
It imports cotton yarns, chemicals and spare parts.
The Company has a large client portfolio. Some
clients include:
- Cetco SA (Peru)
- Productos Paraíso del Perú SAC (Peru)
- Casas y Cosas SA (Peru)
- Loyalti Perú
(Peru)
- Comercial Palacios (Peru)
- Drisa SAC (Peru)
- Saga Falabella SAA (Peru)
- Tiendas por Departamentos Ripley SA (Peru)
- Hanover Domestication (USA)
- Colombiana de Comercio (Colombia)
- Modatex (Venezuela)
PRODUCTION: PEPISA operates at 80% of its installed capacity, in two daily
8-hour shifts.
This Company has been ISO 9001-2000 certified.
FINANCIAL
INFORMATION
|
Interviewee(s) |
:
|
José Luis Serpa Farfán |
|
Position(s) |
:
|
Internal Auditor |
|
Cooperation |
:
|
PARTIAL (Full information
but no figures). |
|
Information
Provided |
:
|
Mr. Serpa stated he could
not provide the financial information under internal policy but confirmed
information and updated some other details.
Additional information was collected from outside sources, official
and our databases where no balance sheets or estimated accounting elements
could be obtained. |
FINANCIAL
SITUATION : UNDETERMINED
Financial standing of this Company is deemed to be
indeterminate since no accounting elements were available to analyze this
Company current results. We only found out Turnover of the Company for the FY
2007 came to S/.53,164,000.= Nuevos Soles (US$17,840,268.45.= Dollars).
Business sources reported some protests occurred in
past years which were regularized. At
present, the Company fulfills its obligations satisfactorily.
On the other hand, the Superintendency of Bank and
Insurance rated the Company NORMAL, as shown in latest bulletin as of
31/03/2011.
Peru Pima is a textile concern with operations in
the domestic and international markets since 1992. It produces plain weave
fabrics made of cotton, polyester intended for the bed linen and mattress
industries, as well as plush and towels of different sizes. The quality service and products, innovative
design, appropriate technology and human resources has allowed PEPISA to be
granted the ISO 9001 - 2000 certification, ensuring quality in all production
processes.
PROPERTY
OF THE COMPANY.-
They include:
- Premises located at Av. Argentina 2747, Lima/Lima
1.
- (125) Loom machines
- (02)
Stamping machines
- (02)
HYUNDAI trucks, year 1994.
INSURANCE
.-
|
Company |
Againts |
Amount |
Expiration |
|
RIMAC CIA.DE SEGUROS Y
REASEGUROS |
All risk |
No specified |
No specified |
PAYMENTS
RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms(days) |
Perfomance? |
Time |
Products/Services |
|
CLARIANT PERU S.A. |
PERU |
511 3171500 |
Open |
US$ 500/1,000.= |
30, 45 days |
Prompt |
2009 |
Chemicals |
|
TEXTIL ALGODONERA |
PERU |
511 4523800 |
Open |
US$ 1,000 / 2,000.= |
30 days |
Prompt |
+5 years |
Services and fabrics |
NOTE: Other Suppliers did not
provide information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
FRANQUIMICA S.A. |
PERU |
511 4246891 |
|
UNIVERSAL ADUANERA |
PERU |
511 4602213 |
|
DEPOSITOS S.A. |
PERU |
511 3301004 |
|
QUIMICA SUIZA |
PANAMA |
N/A |
|
MINERVA SUIZA |
PANAMA |
N/A |
|
EVER LINE |
U.S.A. |
N/A |
|
WEIL BROTHERS |
U.S.A. |
N/A |
|
EVER LINE |
U.S.A. |
N/A |
|
3V |
UNITED KINGDOM |
N/A |
|
RIETEL |
GERMANY |
N/A |
|
SANTA MONICA |
BOLIVIA |
N/A |
|
MINERVA SUIZA |
SPAIN |
N/A |
CREDIT RISK CENTRAL .-
Found out 7 protested documents for the global sum
US$16,166.= Nuevos Soles, which have
been settled as follows:
2009: 05 Drafts for the sum of US$5,534.=
2008: 02 Drafts for the sum of US$10,633.=
Subsequently, no similar cases have been reported.
Found no protested bills, bad checks, cancelled
accounts or lawsuits against this Company. No compulsory collections or payment
failures were reported either relative to State contributions
.
BANKING
INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
BBVA CONTINENTAL S.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
CREDITO |
N/A |
N/A |
N/A |
N/A |
N/A |
|
CITIBANK |
N/A |
N/A |
N/A |
N/A |
N/A |
|
SCOTIABANK PERU S.A.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
The Company is client of the above banks which do
not provide information due to internal policy.
Debt structure for Bank
(Domestic Currency)
|
Bank |
% Debt Rating |
Current Debt DC |
Current Debt FC |
|
CREDITO |
|
9618215 |
0 |
|
CONTINENTAL |
|
7914800 |
0 |
|
SCOTIABANK |
|
5628944 |
0 |
|
FINANCIERO |
|
1696035 |
0 |
|
BIF |
|
1619939 |
0 |
|
FINANCIERA AMERICA |
|
2601516 |
0 |
RATING
DESCRIPTION ACCORDING TO THE SBS
Normal .- Good Financial Situation,
Prompt payments, consistent Information, Increasing Trend, Creditworthy.
Potential Problem .- Satisfactory Financial Situation
but cash flow can be weak. Irregular payments. Irregular Trend.
Deficient .-Financial Situation, cash problems, profits shortage, delayed and overdue
payments.
Doubtful .- Heavy Financial Situation,
liquidity shortage, notorious delayed payments, Judicial Collection, Bad
Management.
Loss .- Bad Financial Situation,
Insufficient funds, declared
bankruptcy,debt default.
CREDIT
OPINION
Recommend
Credit : US$.300,000.=
Dollars
NOTE: The Opinion given is confidential referential
and with out liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
|
UK Pound |
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.64.40 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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 and their relative weights (as indicated through
%) are as follows:
Financial condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market
trend (10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.