MIRA INFORM REPORT

Report Date :

02.06.2012

IDENTIFICATION DETAILS

Name :	TECNYPOL LTDA
Registered Office :	Carrera 64 Num 4 G -79 Bogota D.C.
Country :	Colombia
Date of Incorporation :	05.12.2000
Legal Form :	Compania Limitada
Line of Business :	Plastic products and cosmetics.
No. of Employees :	50

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: 100.00 COP = 0.0542741 USD Branch Situation:Stable

IDENTIFICATION
Legal Name:	TECNYPOL LTDA
Legal Address	Carrera 64 Num 4 G -79 Bogota D.C. Colombia.
Operative Address	Carrera 64 Num 4 G -79 Bogota D.C. Colombia.
Telephone:	+57 1 4202017	NIT :	830071982-2
Fax:	+57 1 4204960	Legal Form:	Compania Limitada
Email:	TECNYPOL@TECNYPOL.COM	Registered in:	Colombia
Website:	www.tecnypol.com	Date Created:	2000
Manager:	Clara Sandoval, Administrative Assistant	Date Incorporated:	December 5th, 2000
Staff:	50	Stock:	NA
		Value:	NA
Activity:	Plastic products and cosmetics.

BANKS
Name of the Bank	Bancolombia
BUSINESS
HISTORY
	This company was founded in 2000.
PRINCIPAL ACTIVITY
	The company is engaed in the manufacture and distribution of plastics and other packaging products for cosmetics.
Products/Services description:
	The company provides caps, brushes, Packaging, exhibitors and color charts for nail polish.
Sales are:
	Wholesale
Clients:
	Various industries.
Operations area:
	National, Local
The company imports from Japan
The company exports to Central America and South America
Trade References:
	1) Dupont de Colombia Phone: +57-1 653-8208 We only got a general mailbox, we left them a message but we didn't get an answer yet. 2) PERMAQUIM S.A.S. Cr49 91-91 Colombia - Distrito Capital, Bogotá Colombia Phone) : (57) (1) 2561329 Clients since: 2009 Credit line: COP 6,000,000. Payment trend: 60 days Contact person: July Paez, Collections Analyst. The person stated they were excellent clients. 3)Polam Ltda Carrera 108 No. 22-56/34 - Bogotá, D.C. - Colombia Phone: (57-1) 267 5994 Clients since: January 15th, 2001 Payment trend: 30 Days Credit line: COP 5,000,000 to COP 8,000,000. Contact person: Ruth Palacios, General secretary.
Competitors:
	Polímeros Del Caribe Enka de Colombia Alfi-Plast Plasticos por inyeccion.
The subject employs 50 employee(s)
PAYMENTS
	made on a 30 days basis - monitored over the last 12 months
LOCATION
Headquarters
	The company is headquartered at Carrera 64 Num 4 G -79 Bogota D.C. Colombia.
Branches:
	The company reported no branches.

Shareholders - Manager - Related Companies
Shareholders Parent Company(ies):
	This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.
Management:
	BELTRAN MAHECHA ERVIN, Legal Representative Manager. MOLINA GACHARNA MILTON HERNAN, Tax Auditor DAVID ANTONIO GUEVARA, Accountant Clara Sandoval, Administrative Assistant

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted Clara Sandoval, Administrative Assistant who refused to provide us any financial data on grounds of confidentiality.

Comments on the financial data: There was no recent financial information provided or released to our sources.

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
	TECNYPOL LTDA is a small sized company with 50 employees and 12 years of experience in the market. The subject has a strong international presence in Central America and South America due to the nature of its business. Furthermore, the suppliers contacted reflected a positive behavior on the company's length of payments. There were no legal filings found against the company or its legal representatives. Although the person contacted couldn't provide us any financial information per security purposes, she was fairly cooperative and provided us with information to fulfill this report. At this point, considering the regular length of payments, the company's international presence and all other general features. Cash flow is normal.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public	NO
Indebtedness	N.A.	Payments	REGULAR
Cash	NORMAL

APPENDIX
Person Interviewed
	Clara Sandoval
Position
	Administrative Assistant
Comments
	She provided us with the staff, the countries where they import from, the length of payments, the name of their suppliers for trade references, and the bank that they work with. However, she refused to provide us any financial information on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.92
UK Pound	1	Rs.86.03
Euro	1	Rs.69.13

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.