MIRA INFORM REPORT

Report Date :

26.10.2012

IDENTIFICATION DETAILS

Name :	G Y N GRAF PERU S.A.C.

Registered Office :	Jr. 9 de Setiembre 162 Fnd. Ipresa (Lt. 7, Zona 2) , Ate, Postal Code Lima, 03

Country :	Peru

Date of Incorporation :	23.03.2005

Com. Reg. No.:	Record 11743069

Legal Form :	Closely-held Corporation

Line of Business :	Print Service to national pharmaceutical laboratories.

No. of Employees :	08 employees

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 :	US$3,500
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

(31.03.2012)

Current Rating

(30.06.2012)

Peru

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

Peru - ECONOMIC OVERVIEW

Peru's economy reflects its varied geography - an arid coastal region, the Andes further inland, and tropical lands bordering Colombia and Brazil. Important mineral resources are found in the mountainous and coastal areas, and Peru's coastal waters provide excellent fishing grounds. The Peruvian economy has been growing by an average of 6.4% per year since 2002 with a stable/slightly appreciating exchange rate and low inflation. Growth in 2010 was close to 9% and in 2011 almost 7%, due partly to a leap in private investment, especially in the extractive sector, which accounts for more than 60% of Peru's total exports. At 3.4%, inflation in 2011 exceeded somewhat the upper range of the Central Bank's 1%-3% target. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs subjects the economy to fluctuations in world prices. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by 23 percentage points since 2002. A growing number of Peruvians are sharing in the benefits of growth but inequality persists posing a challenge for the new Ollanta HUMALA administration, which has championed indigenous and local disenfranchised groups. The administration seems committed to Peru's free-trade path. Since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, and Japan, concluded negotiations with the European Free Trade Association and Chile, and begun trade talks with Central American countries and others. The US-Peru Trade Promotion Agreement entered into force 1 February 2009, opening the way to greater trade and investment between the two economies. Trade agreements with South Korea, Japan, and Mexico also were signed in 2011. Although Peru has continued to attract foreign investment, political disputes and protests may impede development of some projects related to natural resource extraction.

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME	G Y N GRAF PERU S.A.C.
TRADE NAME	GYNGRAF S.A.C.
TAXPAYER REGISTRATION	RUC 20510640030
MAIN ADDRESS	Jr. 9 de Setiembre 162 Fnd. Ipresa (Lt. 7, Zona 2) , Ate
POSTAL CODE	Lima, 03
PROVINCE / DEPARTAMENT	Lima
STATE / REGION	Lima
COUNTRY	PERU
TELEPHONE	(511) 3494162
E-MAIL	cesar.fabian@gymgraf.com.pe
WEB	www.gymgraf.com.pe (En elaboración)

CREDIT OPINION

Requested credit	MAXIMUM?
*Suggested credit ()**	US$3,500.=
(*) After analyzing different factors and other opinions.

SUMMARY

Date of foundation	2005
permanent employees	8
Chief Executive	FABIAN COSAR, CESAR AUGUSTO
Disposition	Poor.- Only general information without figures.
Payments policy	Usually to terms/good
Credit ()**	Risk is Moderate. Within Average. Lightly Fair Situation.

LEGAL BACKGROUNDS

LEGAL STATUS	Closely-held Corporation
DATE OF INCORPORATION	23MAR2005
PLACE OF REGISTRY	Lima
NOTARY OFFICE	José Calderón Urteaga
REGISTRATION	Record 11743069
INITIAL CAPITAL	S/.1,000.= Nuevos Soles
CLASS OF SHARES	Registered.
LISTED AT STOCK EXCHANGE	No
SHARE VALUE	S/.1.= Nuevo Sol
CURRENT EXCHANGE RATE (US$)	S/.2.58 per 1.00 USADollar

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
*FABIAN COSAR, CESAR AUGUSTO*	General Manager	50%
ALEGRE GOMEZ, RONALD JESUS	Manager

WHO IS WHO?

FABIAN COSAR, CESAR AUGUSTO
NATIONALITY	Peruvian
D.O.B.	16SEP1973
ID	DNI 09853750
DOMICILE	Mza.Q Dpto.301 Lt23 Urb Sta. Patricia 2da.Et.(Cruce Av J Prado con Flora Tristan) Lima - La Molina
PROFESSION	Engineer
TAX ID	10098537509


ALEGRE GOMEZ, RONALD JESUS
NATIONALITY	Peruvian
ID	DNI 09677995

BUSINESS HISTORY

The founders of the company are the current shareholders

BUSINESS

Main activity

Print Service to national pharmaceutical laboratories.

Import

Export

% CASH SALES / METHOD

40%

% Credit SALES / Terms

60% (terms: 30 days)

% DOMESTIC PURCHASES

100%

EMPLOYEES

LOCATION
PREMISES	Own
OTHER PREMISES	The company operates from owned premises at the above address , consisting of its main offices and workshop.

Comments

Imported from China until 2008.

FINANCIAL INFORMATION

Interviewee(s)	Cesar Fabian Cosar
Position(s)	General Manager
Disposition	Poor.- Only general information without figures.
Information provided	The person interviewed kindly assisted us by providing general information regarding the company, but he declined to provide any financial data as it is considered confidential and besides not knowing the identity of the requesting client.


SALES	US$ 0.00 ()
FINANCIAL SITUATION	NN: UNDETERMINED Subject's Financial Position is considered UNDETERMINED, since there are no financial figures allowing a financial analysis of the results in its last fiscal year. This is a company established in 2005, against which no negative were found during our investigation.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: AEROADUANAS S.A.C.	Tel.: 4469945	Country: PERU
Goods/Services? : Customs service
Highest credit? : US$ 3,500.=
Client since? : 2009	Terms? : 30 days	Performance? : Prompt

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

LAWSUITS

As of report date we have not found any litigation, suit, or judgement filed against this company.

BANKERS

It was not possible to learn with which banks the company works because of the bank secrecy act in the country.

CREDIT OPINION

Consulted Credit Amount :	MAXIMUM?
Suggested Credit :	US$3,500.=
NOTE : The opinion given is confidential, referential and with out liability.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.63
UK Pound	1	Rs.86.18
Euro	1	Rs.69.75

INFORMATION DETAILS

Report Prepared by :

MNL

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.

MIRA INFORM REPORT

IDENTIFICATION

CREDIT OPINION

SUMMARY

LEGAL BACKGROUNDS

DIRECTORS - EXECUTIVES – SHAREHOLDERS

WHO IS WHO?

BUSINESS HISTORY

BUSINESS

FINANCIAL INFORMATION

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

CREDIT OPINION

Unit