MIRA INFORM REPORT

Report Date :

12.12.2013

IDENTIFICATION DETAILS

Name :	DISEÑOS TEXTILES ARIANA S.A.C.

Registered Office :	Hipólito Unanue 1651, Int. 10, La Victoria

Country :	Peru

Date of Incorporation :	21.05.2003

Com. Reg. No.:	11535579

Legal Form :	Closely-held Corporation

Line of Business :	Manufacturer of Weaving mills, cotton, Synthetics, hosiery, woven carpets and rugs, yarn, fabrics

No. of Employees :	27

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

Payment Behaviour :	Slow

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,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 lowland coastal region, the central high sierra of the Andes, the dense forest of the Amazon, with tropical lands bordering Colombia and Brazil. A wide range of 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, which in 2013 is expected to be below the upper limit of the Central Bank target range of 1 to 3%. Growth has been in the 6-9% range for the last three years, due partly to a leap in private investment, especially in the extractive sector, which accounts for more than 60% of Peru's total exports. 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, but inequality persists and continues to pose a challenge for the new Ollanta HUMALA administration, which has championed a policy of social inclusion and a more equitable distribution of income. Peru's free trade policy has continued under the HUMALA administration; since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, Japan, the European Free Trade Association, Chile, and four other countries; concluded negotiations with Venezuela, Costa Rica, and Guatemala; and begun trade talks with two other Central American countries and the Trans-Pacific Partnership. Peru also has signed a trade pact with Chile, Colombia, and Mexico called the Pacific Alliance that rivals Mercosur in combined population, GDP, and trade. The US-Peru Trade Promotion Agreement entered into force 1 February 2009, opening the way to greater trade and investment between the two economies. Although Peru has continued to attract foreign investment, political activism and protests are hampering development of some projects related to natural resource extraction.

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME	DISEÑOS TEXTILES ARIANA S.A.C.
TAXPAYER REGISTRATION	RUC 20506752541
MAIN ADDRESS	Hipólito Unanue 1651, Int. 10, La Victoria
POSTAL CODE	Lima, 13
DEPT/PROV/REGION/STATE	Lima / Lima
COUNTRY	PERU
TELEPHONE	(511) 3491879 - 6524200
CORPORATE E-MAIL	grupoek@textilesariana.com
WEB	www.textilesariana.com
COMMENTS
As a reference, the heading address is located between Jr. Gamarra and Aviación. Its request came without a phone number.

EXECUTIVE SUMMARY

Date of foundation	2003
permanent employees	27
Chief Executive	PORRAS MENDOZA, EUGENIO OSWALDO
Disposition	REPORT PREPARED FROM OUTSIDE SOURCES.
Payments policy	Late, beyond sector norms
Credit ()**	Risk is Very High. Vulnerable, Losses. Heavy Situation.
Number of times that this company was required: 2

REPUTATION

SLOW WITH AFP, ESSALUD, SUNAT.(Publication)

LEGAL STRUCTURE

LEGAL STATUS	Closely-held Corporation
DATE OF INCORPORATION	21MAY2003	STARTING DATE	01/07/2003
PLACE OF REGISTRY	Lima
NOTARY OFFICE	César Francisco Torres Kruger	DURATION	Indefinite
REGISTRATION	Registration 11535579
INITIAL CAPITAL	S/.48,300.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.79 per USD1.00

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
PORRAS MENDOZA, EUGENIO OSWALDO	General Manager	59%	10/06/2003
RIMACHI SAAVEDRA, JUANA VICTORIA	Shareholder	41%

WHO IS WHO?

PORRAS MENDOZA, EUGENIO OSWALDO
TITLE	General Manager
NATIONALITY	Peruvian
D.O.B.	05AUG1929 (La Victoria / Lima / Lima)
ID	DNI 08728185
CIVIL STATUS	Married to Pilar Pelagia Sumari Camiña de Porras
DOMICILE	Independencia 640, San Miguel, Lima / Lima
FATHER'S NAME	Eugenio Porras
MOTHER'S NAME	Eva Mendoza


RIMACHI SAAVEDRA, JUANA VICTORIA
TITLE	Shareholder
NATIONALITY	Peruvian
ID	DNI 06711150

BUSINESS HISTORY

Subject's articles of incorporation were signed by: Juana Victoria Rimachi Saavedra and Eugenio Oswaldo Porras Mendoza.

BUSINESS

SIC Classification

2 2 - TEXTILE INDUSTRY. FLAT YARNS AND CONFECTIONARY RAW MATERIAL. (Manuf. Weaving mills, cotton, Synthetics, hosiery, woven carpets and rugs, yarn, fabrics)

Main activity

Textile company that incorporates the processes of weaving, design, printing, dyeing and finishing.

O P E R A T I O N S

Import

Yes

Country

Brazil, India and Spain.

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2013	207,167.00
2012	540,436.00
2011	488,088.00

Export

% CASH SALES / METHOD

40%

% Credit SALES / Terms

60% (Terms: 30, 45 days)

% DOMESTIC PURCHASES

60%

% FOREIGN PURCHASES

40%

SELLING TerritorY

Domestic market (100%)

EMPLOYEES

LOCATION

PREMISES

Own Settled

OTHER PREMISES

The tax domicile operate at the heading address.

Production Headquarters:

- Av. Universitaria 798, Lima, Lima / Lima

- Calle Gardenias Mz. D, Lt. 15, Urb. Pradera Lurín, Lurín

Branch: Parcela II Mz. M Lt. 7-C, Parque Industrial, Villa El Salvador / Lima, 43

Warehouse: Av. Separadora Industrial Mz. B, Lt. 13, Urb. Santa Raquel, Ate / Lima, 3

Comments

The company has been created in order to engage in import, export, distribution, wholesale distribution and retail of accessories for the textile industry, textile manufacturing and services, weaving, finishing and textile industries. The company may be presented to all the tenders and competitions held by public or private companies, as well as those organized by the government or public body.

According SUNAT, the number of employed workers is 27 to October/2013.

FINANCIAL INFORMATION

Disposition

REPORT PREPARED FROM OUTSIDE SOURCES.

Interviewee(s)

Terceras fuentes

Information provided

It was not possible to interview the executive officers of the company and the staff are too reluctant to give information. We forwarded our request in writing and we have been not answered to date.

In this situation, we conducted an extensive search through various sources of external consultation, obtaining data that give the basis of this report. We found no balances, only the amount of sales for the years 2010 to 2012.

SALES

US$ 0.00 ()

FINANCIAL SITUATION

HEAVY

Despite not having available financial statements, we have come to know through consulted sources the financial situation of the Subject is precarious, trade references are mostly negative

Sales History in US$ (of Balance Sheet, statement of third parties)

Date	Sales (US$)
31/12/2012	3,490,196.08
31/12/2011	3,124,535.32
31/12/2010	2,362,142.86

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: TENMINSTE S.A.C.	Tel.: (511) 4470847	Country: PERU
Goods/Services? : Chemicals
Highest credit? : Not specified
Client since? : sv.years	Terms? : 45-60 days	Performance? : Delinquent
Comments : Delay in pay, even outstanding letters

Supplier: IVALTEX S.A.C.	Tel.: (511) 3495272	Country: PERU
Goods/Services? : Chemicals
Highest credit? : US$ 3,000
Client since? : 2012	Terms? : 30 days	Performance? : Delinquent
Comments : Last purchase 03-2013, drafts canceled, delayed in paying

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

Supplier	Country
WOLSTARK S.A.C.	PERU
CORPORACION PERUANA DE PRODUCTOS QUIMICOS	PERU
IMPELEC S.R.L.	PERU
ADVANTEX S.A.C.	PERU

RISK INFORMATION CENTER

COMMERCIAL DELINQUENCY

Drawer	Document	Protested date	Amount S/.	Amount US$	Payment date
BANCO CONTINENTAL / WOLSTARK S.A.C.	DRAFT	28/09/2013	0.00	1,829.00
BANCO CONTINENTAL / DISEÑOS TEXTILES ARIANA S.A.C.	DRAFT	28/09/2013	3,540.00	0.00
BANCO CONTINENTAL / I INKS CENTER S.A.C.	DRAFT	28/09/2013	0.00	1,628.40
TENMINSTE S.A.C	DRAFT	26/09/2013	0.00	1,713.95
INDUSTRIAS QUIMICAS MARCOLOR E.I.RL.	DRAFT	26/09/2013	0.00	1,298.00
INDUSTRIAS QUIMICAS MARCOLOR E.I.RL.	DRAFT	25/09/2013	0.00	1,221.30
TENMINSTE S.A.C.	DRAFT	23/08/2013	0.00	947.78
WOLKSTARK S.A.C.	DRAFT	26/08/2013	0.00	1,947.00
WOLKSTARK S.A.C.	DRAFT	23/08/2013	0.00	1,755.84
WOLKSTARK S.A.C.	DRAFT	22/08/2013	0.00	1,947.00

CREDIT BUREAU COMMENTS

It registers a total of 79 protested papers of which 76 are listed as pending regularization, as detailed: 2013: (74) amounts to U.S. $ 129.671 = and S/.24, 572 =.. 2012: (02) For a total of US$3,500 =. NOTE: It should be noted that while it fails to perform the duly regularization before the Chamber of Commerce, a document may still appear as not clear even it has been canceled. Furthermore, it has been reported debt in JUDICIAL COLLECTION with APF INTEGRA SA for a total amount of S/.6, 734.30 (Periods 2012-01 to 2013-04). It also has been reported indebted to the following state agencies: - SUNAT for S/12, 342 = (period 2013-09). - ESSALUD by S/.324 = (Period 2013-09).

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 31/10/2013

Bank	Debt Rating *() See caption**	Current Debt
Bank	Debt Rating *() See caption**	DOMESTIC CURRENCY	FOREIGN CURRENCY
BANBIF	PROBLEMA POTENCIAL	166,101.00	759,384.00
COMERCIO	DUDOSO	52,924.00	4,072.00
SCOTIABANK	DEFICIENTE		1,144,187.00
Total		219,025.00	1,907,643.00
Guarantees			2,104,766.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.33
UK Pound	1	Rs.100.79
Euro	1	Rs.84.38

INFORMATION DETAILS

Report Prepared by :

NNA

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.