MIRA INFORM REPORT

Report Date :

05.01.2012

IDENTIFICATION DETAILS

Name :	COMERCIALIZADORA INTERNACIONAL SEMAR LTDA

Registered Office :	Cr69 B 98-53, Bogot D.C

Country :	Colombia

Year of Establishment :	2002

Legal Form :	Compania Limitada

Line of Business :	Food Trading Company

No. of Employees :	Less than 10 people

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	USD 20,000
Status :	Small Company
Payment Behaviour :	No Complaints
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Colombia

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

GEOPOLITICS- COLOMBIA

POLITICAL DATA		ECONOMIC DATA
Form of GovernmentGOVERNMENT	Republic	Currency	100.00 COP = 0.0515996 USD
Economic Risk	Low	Branch Situation	Stable

IDENTIFICATION

Legal Name:

COMERCIALIZADORA INTERNACIONAL SEMAR LTDA

Trade Name:

CI COMSEMAR LTDA

Legal Address:

Cr69 B 98-53, Bogot D.C, Colombia
Operative Address:	Cr69 B 98-53, Bogot D.C, Colombia

Telephone:

+(57) (1) 6432731

NIT:

8301114752

Fax:

+(57) (1) 6432731

Legal Form:

Compania Limitada

Email:

dariosema@comsemar.com

Registerd In:

Colombia

Website:

http://www.comsemar.com

Date Created:

2002

Manager:

Dario Sema, President

Date Incorporated

Staff:

Less than 10 people

Stock:

Value:

Activity:

Food trading company

BANKS

Name of the Bank

BANCO DE BOGOTA

BUSINESS

HISTORY:
	The company was created in 2002
PRINCIPAL ACTIVITY:
	The company is engaged as an importing company of seeds and grains.
Products/Services description:
	Red skin peanuts Split Peanuts Blanched Peanuts Skin Peanuts Sweet Peanuts Purple Kidnye Beans Dry Green Peas Lentils Yellow Peas Chickpeas Pop Corn Prunes Raisins
Sales are:
	Wholesale
Clients:
	Distributors
Operations area:
	National,

The company imports from India, Chile, Argentina, China, Spain, Peru, Canada, Mexico.
The company does not export .

Trade References :
	Alpha Field Products Co. 5335 Lucas Court Mississauga, ON L4Z 4A9 Juan Rico / Radek Stasiewicz Telephone: 905-267 0139 Fax: 416-840 4435 E-mail: juan@alphafield.net We sent an email to Mr. Juan Rico, which was not yet answered.

The subject employs Less than 10 people employee(s)

Payments :
	made on a 40 days basis - monitored over the last 12 months
LOCATION :

Headquarters:
	Cr69 B 98-53, Bogot D.C, Colombia
Branches:
	There are no branches listed

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO

Shareholders Parent Company(ies):
	This is a private company. The main shareholder is Dario Sema.
Management:
	Dario Sema, President Yamila Rodriguez, Secretary

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.
We have contacted Yamila Rodriguez, Secretary, who refused to provide us any financial data without knowing the name of the inquiring party.
However our financial sources could provide us with the following data. Those figures are estimates provided by confidential banking and financial institutions working with the company.

Currency	DATE
USD	2010
Turnover	730,000
Operating Income	49,000
Net Income	40,000
Net worth	200,000
Bank liabilities	50,000
The cash flow is NORMAL

legal fillings

The sources consulted record no detrimental legal or labor court information.

Rating

Local credit bureau gave a correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

FINAL OPINION:

We are reporting a company which has a fluent relation with foreign suppliers.

They do not operate with any branch location, but their distribution services are quite efficient to distribute in Bogota.

Payment terms are made on a 40 days, which is a good average.

The financial data available show that the company has a good business trend.

A credit line may be considered for USD 20,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX
Person Interviewed:
	Yamila Rodriguez
Position:
	Secretary
Comments:
	The person contacted provied all the information stated in this report. However, no financial figures were provided on grounds of confidentiality

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.14
UK Pound	1	Rs.83.08
Euro	1	Rs.69.25

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.