MIRA INFORM REPORT

Report Date :

01.08.2012

IDENTIFICATION DETAILS

Name :	MONARCA INDUSTRIAL S.A. DE C.V.

Registered Office :	Calle 16 Norte No. 202, Col. Ciudad Industrial 20290

Country :	Mexico

Date of Incorporation :	01.11.1989

Legal Form :	Stock Company of Variable Capital

Line of Business :	Import and marketing of household items

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Mexico

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

IDENTIFICATION

CORRECT COMPANY NAME

MONARCA INDUSTRIAL S.A. DE C.V.

TRADE NAME

MONARCA INDUSTRIAL

TAXPAYER REGISTRATION

RFC MIN891101GE9

MAIN ADDRESS

Calle 16 Norte No. 202, Col. Ciudad Industrial

POSTAL CODE

20290

PROVINCE / DEPARTAMENT

Aguascalientes

STATE / REGION

Aguascalientes

COUNTRY

MEXICO

TELEPHONE

(52) 9710976 - 9710977 - 9710995 - 9710996

E-MAIL

trafico@monarcaindustrial.com

WEB

www.monarcaindustrial.com

COMMENTS

Fax: (449) 9710085

Nextel ID 62*146138*18

Other email: lilianahernandez@monarcaindustial.com

The report was requested as Monarch Industrial S.A. de C.V.

Please note the correct legal name of the company is Monarca Industrial S.A. de C.V.

SUMMARY
Date of foundation	1989
Capital stock	No specified
permanent employees	Undisclosed
Chief Executive	VALENZUELA, LORENZO
Disposition	Refused to give information (impolitely).
Payments policy	Usually to terms/good
Credit ()**	Indeterminate, Information is insufficient. With no Experience.

LEGAL BACKGROUNDS


LEGAL STATUS	Stock Company of Variable Capital
DATE OF INCORPORATION	01NOV1989
DURATION	99 years
INITIAL CAPITAL	Aguascalientes, Aguascalientes
CURRENT PAID-IN CAPITAL	No specified
CURRENT EXCHANGE RATE (US$)	Ps$13.23. per 1.00 USADollar
COMMENTS	Names of executive staff members were not released.

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
*VALENZUELA, LORENZO*	Sales Manager

WHO IS WHO?


VALENZUELA, LORENZO
NATIONALITY	Mexican

BUSINESS HISTORY

Monarca Industrial is a trading company with over 30 years experience in household goods, school and sporting goods.

However, it operates under current corporate name Monarca Industrial S.A. de C.V., since November 1, 1989 in the city of Aguascalientes, Aguascalientes.

RELATED COMPANIES

The Subject does not have related companies.

BUSINESS

SIC Classification
5 0 - WHOLESALE TRADE-DURABLE GOODS. (Sale of vehicles, tires, furniture, toys, Home furnishings, machinery.)

Main activity

The company is engaged in import and marketing of household items such as Home Line, White Line,  Sports Line, Appliances and seasonal items.

BRANDS: Brasilis, Luminarc, Brilhante, Conrad, T-Fal, Moulinex, Mode, Monarca, etc..

Import

Yes

Country

China, through direct credit.

Export

% CASH SALES / METHOD

30%

% Credit SALES / Terms

70% (30 days)

% DOMESTIC PURCHASES

20%

% FOREIGN PURCHASES

80%

SELLING TerritorY

100% National sales

EMPLOYEES

Undisclosed

OTHER PREMISES

The company operates from premises at caption address, consisting of general offices and its tax domicile.

Other locations:

The company has no other facility.

Comments

CLIENTS: The company sells to wholesalers, distributors and others.

FINANCIAL INFORMATION


Interviewee(s)	Ms. Liliana Hernández
Position(s)	Sales Area
Disposition	Refused to give information (impolitely).
Information provided	After many efforts we were able to interview Ms. Liliana Hernández, who said she worked in the sales area of the company, but from the beginning was very suspicious and distrustful. She said that within the company structure no executive or employee was authorized to provide any information to third parties and less without knowing the name of the overseas supplier requiring such data. Therefore all information contained in this report was obtained by consulting with different external sources. We want to clarify that even though we insisted to get the names of the directors and / or executives of the company, but that information was declined on grounds of confidentiality.


SALES	US$ 0.00 ()
FINANCIAL SITUATION	NN: UNDETERMINED Subject's Financial Position is considered UNDETERMINED, since there is no financial figures allowing a financial analysis of the results in its last fiscal year.
Property of company comments	The company has: - Furniture and office equipment - Computer equipment - Transport equipment
Insurance Comments	No insurance related information.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: GSEB MEXICANA S.A. DE C.V.	Tel.: (55) 52839300	Country: MEXICO
Highest credit? : n/a
Comments : Do not give references on customers.

Note : Other suppliers did not provide information or could not be consulted

Supplier	Country	Comment
YANGZHOY JINMAO IMPO. & EXP. CO. LTD.	CHINA
CHAOCAN CHANCES STAINLESS STEEL	CHINA

BANKERS

Banking is with:

Banco Mercantil del Norte, S.A.

Banco Santander, S.A.

BBVA Bancomer

GENERAL INFORMATION


REPUTATION
NOTHING AGAINST COMPANY

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.80
UK Pound	1	Rs.87.66
Euro	1	Rs.68.45

INFORMATION DETAILS

Report Prepared by :

PDT

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%)

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.