MIRA INFORM REPORT

Report Date :

31.12.2012

IDENTIFICATION DETAILS

Name :	MEXICANA DE VIVERES MSV S.A. DE C.V.
Registered Office :	Andador F, Bodega F-46, Col. Ejidos del Moral, Deleg. Iztapalapa 09040 Distrito Federal
Country :	Mexico
Date of Incorporation :	27.01.2001
Legal Form :	Stock Company of Variable Capital
Line of Business :	Subject is engaged in purchase, wholesale, import and distribution of all kind of seeds, spices and groceries, as well as packaging of those.
No. of Employees :	30

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Mexico	A2	A2

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

MEXICO - ECONOMIC OVERVIEW

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico''s GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME

MEXICANA DE VIVERES MSV S.A. DE C.V.

TAXPAYER REGISTRATION

RFC MVM0401279V1

MAIN ADDRESS

Andador F, Bodega F-46, Col. Ejidos del Moral, Deleg. Iztapalapa

POSTAL CODE

09040

PROVINCE / DEPARTAMENT

México DF

STATE / REGION

Distrito Federal

COUNTRY

MEXICO

TELEPHONE

(5255) 56940731

E-MAIL

masaveja@prodigy.net.mx

COMMENTS

Subject does not have a website.
 

SUMMARY
Date of foundation	2001
Capital stock	Ps$50,000.= Pesos
permanent employees	30
Chief Executive	SAMANO VEGA, JOSE ANDRES MARTIN
Disposition	Report totally prepared by outside sources.
Payments policy	Usually to terms/good
Credit (**)	Risk is Moderate. Within Average. Lightly Fair Situation.

LEGAL BACKGROUNDS
LEGAL STATUS	Stock Company of Variable Capital
DATE OF INCORPORATION	27JAN2001
PLACE OF REGISTRY	Mexico DF
DURATION	99 years
INITIAL CAPITAL	Ps$50,000.= Pesos
CURRENT PAID-IN CAPITAL	Ps$50,000.= Pesos
CLASS OF SHARES	Registered
LISTED AT STOCK EXCHANGE	No
CURRENT EXCHANGE RATE (US$)	Ps$13.01 per US$1.= Dollar
COMMENTS	Subject is a member of the National Chamber of Commerce, Services and Tourism at a Small Level (CANACOPE). Jose Andres Martin Samano Vega (General Director) and Pablo Gomez Obregon (Administrative Manager) are authorized to grant and sign negotiable instruments.

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
SAMANO VEGA, JOSE ANDRES MARTIN	General Director	Yes
SAMANO SAN MARTIN, JOSE ANDRES	General Manager	Yes
SAMANO SAN MARTIN, JOSE IGNACIO	Treasurer	Yes
GOMEZ OBREGON, PABLO	Administrative Manager

WHO IS WHO?
SAMANO VEGA, JOSE ANDRES MARTIN
NATIONALITY	Mexican
PROFESSION	Businessman
SAMANO SAN MARTIN, JOSE ANDRES
NATIONALITY	Mexican
SAMANO SAN MARTIN, JOSE IGNACIO
NATIONALITY	Mexican

BUSINESS HISTORY

Subject is not related to any other companies.
 

BUSINESS

Main activity

Subject is engaged in purchase, wholesale, import and distribution of all kind of seeds, spices and groceries, as well as packaging of those.
 
Sold products: Cinnamon, lentil, roselle, black and white pepper, clove, annatto, bean, rice, etc.
 
Sold brand: MSV.
 

Import

Yes

Country

Countries were not specified.

Export

No

% Credit SALES / Terms

100% (Terms: 30, 45 days)

SELLING TerritorY

Domestic market

EMPLOYEES

30

LOCATION
PREMISES	Own
AREA	1,000 m2
OTHER PREMISES	Subject's administrative offices, warehouse, and packaging area are located on the above-mentioned address. It does not have any other premises.

Comments

Subject's main customers are self-service stores and wholesalers, including:
- Chedraui
- Comercial Mexicana
- Bodega Aurrera
- Wal Mart
 
Working Hours: Monday to Friday from 08:30 to 16:30. Lunch Hours: 13:00 to 15:00.
 
It advertises through phone directories, leaflets.

FINANCIAL INFORMATION

Interviewee(s)

Third-party sources

Disposition

Report totally prepared by outside sources.

Information provided

This report was developed with information that was collected from third-party sources, official and our files.
 
In those consulted sources, no updated subject's financial statements were available.
 

Property of company comments

Subject's main assets include:
- Office equipment and computer equipment (desks, file cabinets, bookshelves, chairs, computers, printers, photocopiers, fax, switchboard, etc.)
- Machinery and equipment (packaging and sealing machines)
- Vehicles (vans, 3-ton trucks, cars)

INSURANCE

COMPANY	AGAINST	EXPIRATION	AMOUNT
GRUPO NACIONAL PROVINCIAL, S.A.	Multiple business

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: CELESTINO SAMANO GUEMES-COMERCIAL SAMANO	Tel.: (5255) 56942121	Country: MEXICO
Goods/Services? : Dry fruits, seeds
Highest credit? : DC Unlimited
Client since? : 1997	Terms? : 30 days	Performance? : Prompt

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

Supplier	Country	Comment
ONIZZO EXPORTACIONES, LTDA.	CHILE
RATHNA PRODUCERS CINNAMON EXPORTS, LTD.	SRI LANKA
DEVI TRADING COMPANY, LTD.	SRI LANKA
LOZANO MAGAÑA SA DE CV	MEXICO
SURTIDORA ABARROTERA SA DE CV	MEXICO
FRUTEXSA-FRUTAS DE EXPORTACION SA	CHILE
AGROFRUT RENGO SA	CHILE
T.S.I. THAI SHINING INTERTRADE LTD.	THAILAND
INTERCOM LIMITED	SRI LANKA
COOPERATIVE ELEVATOR CO.	U.S.A.
JMG IMPORTACAO E EXPORTACAO LTDA.	BRAZIL

LAWSUITS

No lawsuits against subject were found.

BANKERS

GRUPO FINANCIERO SANTANDER

BANCO NACIONAL DE MEXICO

BBVA BANCOMER S.A.

The Company is a client of the aforesaid banks. Additional information was not given in compliance with the Bank Secrecy Act.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.85
UK Pound	1	Rs.88.39
Euro	1	Rs.72.63

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

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