MIRA INFORM REPORT

Report Date :

26.10.2012

IDENTIFICATION DETAILS

Name :	SAME S.A.C.
Registered Office :	Las Turquesas 364/366, Urb. Balconcillo, La Victoria Lima,13
Country :	Peru
Date of Incorporation :	20.01.2003
Legal Form :	Closely-held Corporation
Line of Business :	Importation and sale of packaging materials for laboratories.
No. of Employees :	5

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit:	--
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 (31.03.2011)	Current Rating (30.06.2012)
Peru	A2	A2

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

SAME S.A.C.

TAXPAYER REGISTRATION

RUC 20505910932

MAIN ADDRESS

Las Turquesas 364/366, Urb. Balconcillo, La Victoria

POSTAL CODE

Lima,13

PROVINCE / DEPARTAMENT

Lima / Lima

STATE / REGION

Lima

COUNTRY

PERU

TELEPHONE

(511) 4726680

E-MAIL

japaricio@vermenservicios.com

SUMMARY
Date of foundation	2003
Capital stock	S/.7,000.= Nuevos Soles
permanent employees	5
Chief Executive	MENESES BERASATEGUI, JUAN JOSE
Disposition	Poor.- Only general information without figures.
Payments policy	Usually to terms/good
Credit (**) Credit limit	Risk is Moderate. Within Average. Lightly Fair Situation. In Absence of Financial we Cannot provide credit limit.

LEGAL BACKGROUNDS
LEGAL STATUS	Closely-held Corporation
DATE OF INCORPORATION	20JAN2003
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Guinand Correa Alberto
DURATION	Perpetual
REGISTRATION	Entry 11463386 - RPC
INITIAL CAPITAL	S/.7,000.= Nuevos Soles
CURRENT PAID-IN CAPITAL	S/.7,000.= 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/.2.58 per USD.1.00

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
MENESES BERASATEGUI, JUAN JOSE	General Manager	50%	22/04/03
APARICIO SEQUERA, JAVIER MIGUEL	Administrator
SANO NABETA, JUAN	Shareholder	50%

WHO IS WHO?

MENESES BERASATEGUI, JUAN JOSE

NATIONALITY

Peruvian

D.O.B.

02JUN1960

ID

DNI 07300685

CIVIL STATUS

Married to Ana Maria Consuelo Vergara Varillas

DOMICILE

Los Topacios 271, Urb. Balconcillo (Alt Cdra 2 de Av. Mexico) La Victoria, Lima / Lima

TELEPHONE

4726680

PROFESSION

Mechanical Engineer

TAX ID

10073006851

BACKGROUND INFORMATION

Health Social Security:
Type of Insured: Holder
Type of Insurance: Regular
ID Code: 6006021MEBAJ007

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
VERMEN SERVICIOS S.A.C.	Shareholder	20511333319	PERU
SAME S.A.	Shareholder	20505910932	PERU

APARICIO SEQUERA, JAVIER MIGUEL

NATIONALITY

Peruvian

ID

DNI 08191056

SANO NABETA, JUAN

NATIONALITY

Peruvian

ID

DNI 8204923

CIVIL STATUS

Married to Hortencia Lidia Mori Igoshi de Sano

PROFESSION

Businessman

BUSINESS HISTORY

Charter Members: Juan Sano Nabeta and Juan José Meneses Berasategui, with 3,500 shares each.

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME	COUNTRY	TAX REG.	RELATION %
VERMEN SERVICIOS S.A.C.	PERU	20511333319	Related

BUSINESS

SIC Classification
5 9 - MISCELLANEOUS RETAIL. (Miscellaneous home and persons goods stores.)

Main activity

Importation and sale of packaging materials for laboratories.

Import

Yes

Country

China and India

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2012	316,215.00
2011	465,852.00
2010	324,806.00
2009	254,805.00
2008	366,305.00
2007	279,402.00
2006	284,642.00
2005	449,748.00

Export

No

% CASH SALES / METHOD

40%

% Credit SALES / Terms

60% at 30 and 45 days

SELLING TerritorY

Domestic market -100%

EMPLOYEES

5

LOCATION
PREMISES	Own
OTHER PREMISES	Headquarters and offices operate at the above address. Found no other premises. Domicile of the company is established in Lima, being able to open branches in any part of the country or abroad.

Comments

BUSINESS PURPOSE: importation, exportation, purchase, sale, commecialization and wholesale and retail distribution of aluminum material, alupol, palupol,monolucid paper for packaging; domestic and international outsourcing, international representations.

FINANCIAL INFORMATION

Interviewee(s)

Aparicio Sequera Javier

Position(s)

Administrator

Disposition

Poor.- Only general information without figures.

Information provided

Mr. Sequera disclosed general and operating data and said he would evaluate it was convenient to give accounting information. It should be mentioned some days have passed but so far they have not replied.
Some data were obtained from reliable third-party sources where no updated balance sheets or estimated accounting figures were available.

SALES

US$ 0.00 ()

FINANCIAL SITUATION

NN: UNDETERMINED
Financial Condition of the Company is considered to be INDETERMINED since no accounting figures were available to assess its current results.
 
Special sources reported a protest in 2009 that was settled before the Chamber of Commerce. Subsequently no other protests have been reported. We asked the drawer which confirmed that the Company has been paying its obligations on time.
 
Trade credit experience in the financial sector is considered to be NORMAL as informed by the Superintendence of Bank and Insurance.

INSURANCE

COMPANY	AGAINST	EXPIRATION	AMOUNT
EL PACIFICO PERUANO SUIZA CIA.DE SEGUROS	All risk	Annually	No specified

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: CARLOS NUÑEZ JENKINS SA	Tel.: 511 4291040	Country: PERU
Goods/Services? : Customs services
Highest credit? : US$ 60,000.=
Client since? : 2006	Terms? : 90 days	Performance? : Prompt

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

Supplier	Country	Comment
LP ADUANAS SAC	PERU
JIANGSU ZHONGJIN MATAI MEDICINAL PACKAGING CO.	CHINA
NINGBO ORIGIN CENTURY IMPORT & EXPORT CO., LTD	CHINA
3D INTERNATIONAL HOLDINGS LTD.	CHINA
HANGZHOU KELLEN IMPORT AND EXPORT CO LTD.	CHINA
BILCARE LIMITED	INDIA
GTN INDUSTRIES LIMITED	INDIA

RISK INFORMATION CENTER

DELINQUENCY (INVOICES, RECEIPTS, CHECKS)

Creditor

Date of default

Amount S/.

Amount US$

Payment Date

DELINQUENCY (PROTESTED DRAFTS, PROMISSORY NOTES)

Drawer	Document	Amount S/.	Amount US$	Protested date	Payment date
CARLOS NUÑES JENKINS SA AG. DE ADUANA	Draft	0.00	891.03	12/02/2009	14/05/2009

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/08/2012

Bank	Debt Rating	Current Debt
		S/.	US$
CREDITO	NORMAL	735,022.00
INTERBANK	NORMAL	175,988.00
Total		911,010.00

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 2                           30/08/2012

		Domestic Currency	Foreign Currency
LOANS	:	357,450.00
FOREIGN TRADE	:	550,330.00
OTHER CHARGES	:	3,230.00
		--------------------------------------------	--------------------------------------------
TOTAL DEBT	:	911,010.00
		=========================	=========================

Comments :

The SBS has rated the Company 100% NORMAL since 2009.

RATING DESCRIPTION ACCORDING TO THE SBS (Caption)
Normal	Good Finantial Situation, Prompt payments, Consistent information. Increasing Trend, Creditworthy.
Potential Problem	Satisfactory Finantial Situation but cash flow can be weak. Irregular payments. Irregular Trend.
Deficient	Fair Finantial Situation, cash problems, profits shortage, delayed and overdue payments.
Doubtful	Heavy Finantial Situation, liquidity shotage, notorious delayed payments, Judicial Collection, Bad Management.
Loss	Bad Finantial Situation, Insufficient funds, declared bankruptcy, debt default.

BANKERS

BANCO DE CREDITO
INTERBANK
 
In compliance with bank regulations in force, the aforesaid entities declined to provide references about their client. Other sources reported the Company has been granted banking facilities. No bad found.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.63
UK Pound	1	Rs.86.17
Euro	1	Rs.69.74

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.