MIRA INFORM REPORT

Report Date :

21.01.2012

Tel. No.:

51 1 2613391

IDENTIFICATION DETAILS

Name :	CORPORACION BIOTECH S.A.C.
Registered Office :	Calle Flora Tristán 449, Magdalena, Lima,17
Country :	Peru
Date of Incorporation :	28.01.2005
Com. Reg. No.:	Entry 11724372 - Public Reg. of Com.
Legal Form :	Closely-held Corporation
Line of Business :	Importation and commercialization of pharmaceuticals.
No. of Employees :	7

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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

CORPORACION BIOTECH S.A.C.

TAXPAYER REGISTRATION

RUC 20512356657

MAIN ADDRESS

Calle Flora Tristán 449, Magdalena,

POSTAL CODE

Lima,17

PROVINCE / DEPARTAMENT

Lima

STATE / REGION

Lima

COUNTRY

PERU

TELEPHONE

(511) 2613391

E-MAIL

jsantamaria@corporacionbiotec.com.pe

WEB

www.corporacionbiotec.com.pe (en construcción)

COMMENTS

This report was ordered with address at Calle Agustín Gamarra 404, Pueblo Libre, Lima - Perú, which were occupied until 04/01/2012 when the Company moved to the current address as above written.

Cellular phone: 989069344.

SUMMARY
Date of foundation	2005
Capital stock	S/.42,000.= Nuevos Soles
permanent employees	7
Chief Executive	MORVELI VILLAVICENCIO, MARINA ELENA
Disposition	Report prepared through third-party sources.
Payments policy	(No payment experience traced)
Credit (**)	Information is insufficient.

LEGAL BACKGROUNDS
LEGAL STATUS	Closely-held Corporation
DATE OF INCORPORATION	28JAN2005
STARTING DATE	01/02/2006
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Genoveva Cragg Campos
DURATION	Perpetual
REGISTRATION	Entry 11724372 - Public Reg. of Com.
INITIAL CAPITAL	S/.42,000.= Nuevos Soles
CURRENT PAID-IN CAPITAL	S/.42,000.= Nuevos Soles
LAST CAPITAL INCREASE	No increase reported
CLASS OF SHARES	Registered
LISTED AT STOCK EXCHANGE	No
SHARE VALUE	S/.1.= Nuevo Sol
CURRENT EXCHANGE RATE (US$)	S/.2.69 per USD1.00

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
MORVELI VILLAVICENCIO, MARINA ELENA	General Manager	50%	24/11/05
SANTA MARIA, JUANA	Finace Manager
MUÑOZ VACA, FRANCISCA	Shareholder	50%

WHO IS WHO?
MORVELI VILLAVICENCIO, MARINA ELENA
NATIONALITY	Peruvian
D.O.B.	08APR1963
ID	07964025
TAX ID	10079640251
BACKGROUND INFORMATION	Her Tax ID RUC was issued on 28/2112/1996 to be engaged as individual without business to nursing activities. Registered domicile: Jr. Agustin Gamarra 420, Int.103, Pueblo Libre, Magdalena Vieja - Lima.
MUÑOZ VACA, FRANCISCA
ID	DNI 40372766
TAX ID	10403727666

BUSINESS HISTORY

CHARTER MEMBERS:

- María Elena Morvelli Villavicencio, Peruvian, identified by ID DNI 07964025.

- Francisca Muñoz Baca, Peruvian, identified by ID 40372766.

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME	COUNTRY	TAX REG.	RELATION %
SOCIEDAD GESTORA DE NEGOCIOS - SOGENE S.R.L.	PERU	20106703575	Related
YLLARI FARMA S.A.C.	PERU	20522060659	Related

BUSINESS

SIC Classification
2 8 - CHEMICALS AND ALLIED PRODUCTS (Pigments, resins, plastics, serums, perfums, Paints, Fertilizers, explosives.)

Main activity

Importation and commercialization of pharmaceuticals.

Import

Yes

Country

Argentina, China and India

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2011	78,876.00
2010	81,682.00
2009	164,569.00
2008	139,780.00
2007	28,076.00

Export

No

SELLING TerritorY

Domestic market - 100%

EMPLOYEES

7

LOCATION
PREMISES	Rented
OTHER PREMISES	Head offices are located at the above address. Until 04/01/2012, they were located at Calle Agustín Gamarra 404, Pueblo Libre - Lima. Branches: - Cal. Islas Canarias 130, Pueblo Libre (Magdalena Vieja) Lima. - Av. Tuyro Tupac 411, San Sebastian, Cusco. Registered domicile is situated in Lima, being able to open offices in every place or abroad.

Comments

Business Purpose: Production, exportation and commercialization of pharmaceuticals, medical, generic, hospital and surgical equipment, dental instruments, distribution of related products, activities related to the pharmaceutical industry. Importation, exportation and sale of plastic bags, accessories, and all plastic items, groceries, toiletries, cleaning, stationery and office supplies, hardware items, furniture for industry.

FINANCIAL INFORMATION
Interviewee(s)	Juana Santa María
Position(s)	Finance Manager
Disposition	Report prepared through third-party sources.
Information provided	Ms. Santa Maria commented that all information must be supported by the interested inquiring party directly. Nonetheless, she agreed to submit our information request to the General Manager to be evaluated and approved. Ms. Santa Maria agreed to answer as soon as possible, however, so far, she has not replied. In view of this situation, this report has been prepared based on the information fully collected from third-party sources and official, where no balance sheets or estimated accounting figures were available.
FINANCIAL SITUATION	UNDETERMINED Financial situation is considered to be indeterminate since no accounting elements were available to assess this Company results at present. Found no trade references either showing its payment record. However, no negative backgrounds have been reported. On the other side, according to the latest bulletin dated November 2011, the Superintendency of Bank and Insurance rated the Company 100% NORMAL rating kept several years ago.
Insurance Comments	No information was available relative to insurance policies.

PAYMENTS RECORD: TRADE REFERENCES

(Confidential Information)

Supplier	Telephone	Country	Comment
LUMAR PERU	4510940	PERU
ADM ADUANAS S.A.C.	6147272	PERU
DR.REDDY `S LABORATORIES LTD.		INDIA

CREDIT HISTORY

We asked the above suppliers for references but one of them has not responded and the other, refused to give information.

However, it should be mentioned that no protested documents, NSF checks, cancelled accounts or lawsuits against this Company were found.

Found neither compulsory collection debts, nor payment failures against the State.

BANKING INFORMATION

Bank

CONTINENTAL

The Company is a client of the above bank which did not provide references under bank secrecy. However, other sources reported the Company has been granted facilities. No problems were reported.

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/11/2011

Bank	Debt Rating	Current Debt
		S/.	US$
CONTINENTAL	NORMAL	51,716.00	15,000.00
Total		51,716.00	15,000.00
Guarantees			36,700.00

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 1                           30/11/2011

		Domestic Currency	Foreign Currency
LOANS	:	33,260.00
OTHER INDIRECT CONTINGENT DEBTS	:	18,357.00	15,000.00
OTHER CHARGES	:	99.00
		--------------------------------------------	--------------------------------------------
TOTAL DEBT	:	51,716.00	15,000.00
		=========================	=========================

GENERAL INFORMATION

REPUTATION

NOTHING AGAINST COMPANY

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.32
UK Pound	1	Rs.77.96
Euro	1	Rs.65.30

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.