MIRA INFORM REPORT

Report Date :

19.07.2012

IDENTIFICATION DETAILS

Name :	PROMOTORA INTERNACIONAL DE PARTES LTDA (PROPARTES)
Registered Office :	Complejo Logistico Industrial Siberia Bloque B, Bodega 11, 150 mts adelante de la Glorieta de Siberia Via Cota, Bogota
Country :	Colombia
Date of Incorporation :	26.08.1983
Legal Form :	Compania Limitada
Line of Business :	Auto parts
No. of Employees :	60

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

Status :	Satisfactory
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Colombia	A2	A2

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 Government: Republic Economic Risk: Low	Currency: 1.00 COP = 0.000561817 USD Branch Situation: Stable

IDENTIFICATION
Comments on data supplied:	Please take note the name provided in the order is in English. Its actual legal name is listed below.
Legal Name:	PROMOTORA INTERNACIONAL DE PARTES LTDA (PROPARTES)
Trade Name:	PROPARTES
Legal Address	Complejo Logistico Industrial Siberia Bloque B, Bodega 11, 150 mts adelante de la Glorieta de Siberia Via Cota, Bogota, Colombia
Operative Address	Complejo Logistico Industrial Siberia Bloque B, Bodega 11, 150 mts adelante de la Glorieta de Siberia Via Cota, Bogota, Colombia
Telephone:	+57 (1) 896-6363	NIT :	860350170-5
Fax:	+ 57 (1) 876-7060	Legal Form:	Compania Limitada
Email:	rsalamanca@propartes.com / servicio.cliente-1@propartes.com	Registered in:	Colombia
Website:	http://www.propartes.com/	Date Created:	1983
Manager:	Jorge Luis Franco Sanchez, President	Date Incorporated:	August 26th 1983
Staff:	60	Stock:	NA
		Value:	NA
Activity:	Auto parts.

BANKS
Name of the Bank	Bancolombia
Name of the Bank	Bancolombia

BUSINESS
HISTORY
	The company was created in the year 1983.
PRINCIPAL ACTIVITY
	The comapny engages in the retail and distribution of auto parts.
Products/Services description:
	The company offers a wide variety of auto products, including: Lubricants Filtration Chemicals Coolers Electric parts Suspension parts Power sports line Among others
Sales are:
	Retail
Brands:
	ELF, TOTAL, MANN FILTER, K&N FILTERS, PURFLUX, TECNOCAR, FRAM, PROLUBE, BERU, SPLITFIRE, PEAK, PETRO CHEMICAL, BILSTEIN, KONI, AKEBONO, EBC BRAKES, PAGID, WEATHER TECH, PEXBOX
Clients:
	Car technisians General Clientele
Operations area:
	National, Local
The company imports from Europe and Asia
The company does not export
Trade References:
	The person contacted refused to provide the names of their suppliers on grounds of confidentiality.
The subject employs 60 employee(s)
Comments on staff:
	This information was not confirmed by the staff.
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at Complejo Logistico Industrial Siberia Bloque B, Bodega 11, 150 mts adelante de la Glorieta de Siberia Via Cota, Bogota, Colombia.
The property is:
	Owned
Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The comapny is privately held by Jorge Luis Franco Sanchez.
Management:
	Franco Sanchez, Jorge Luis President Roa Marquez, Catalina Ximena Vice President Eduardo Rubio Albornoz Financial Controller Eliana Rodriguez Ardila Financial Controller Ruth Salamanca Gonzalez Accountant
Financials - COMMERCIAL TRENDS AND FORECAST
As a private company the subject does not publish any financial statements.
We have contacted Liliana, Employee, 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 (these are the main figures). Those figures are estimates provided by confidential banking and financial institutions working with the company.
Currency		DATE
COP		2011
Turnover		23,403,926,000
Operating Income		2,089,563,000
Net Income		1,328,758,000
Current Assets		15,816,692,000
Fixed Assets		5,662,033,000
Net worth		6,401,165,000
Liabilities		15,077,560,000
Bank liabilities		8,348,137,000
The cash flow is		NORMAL

Currency	DATE
COP	2010
Turnover	16,262,280,000
Operating Income	2,299,143,000
Net Income	1,027,431,000
Current Assets	10,344,999,000
Fixed Assets	5,659,762,000
Net worth	5,081,177,000
Liabilities	7,082,130,000
The cash flow is	Normal

Currency	DATE
USD	2009
Turnover	7,082,898.78
Operating Income	980,005.38
Net Income	333,443.52
Current Assets	3,656,247.92
Fixed Assets	1,651,809.78
Net worth	1,559,541.81
Liabilities	2,293,653.30
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
	The subject is a medium size company. It started its operations in 1983. Therefore, it has a very good experience in its field. PROMOTORA INTERNACIONAL DE PARTES LTDA is an auto parts supplier. It seems to have an adequate business structure, taking into consideration its commercial activities. While analyzing the financial data obtained, we can remark it has been able to grow revenues. It is a profitable business. No evidence of legal or labor antecedents found against the company in the consulted databases.

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

APPENDIX
Person Interviewed
	Liliana
Position
	-
Comments
	We have contacted this person at the company's who refused to provide us any kind of data without knowing the name of the inquiring party.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.34
UK Pound	1	Rs.86.55
Euro	1	Rs.67.95

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%)

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.