|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
Compania minera Santa Luisa S.A. |
|
|
|
|
Registered Office : |
República de Panamá, 3531 Piso 15 Int. 1501, San Isidro |
|
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Country : |
Peru |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
31.07.1964 |
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|
|
|
Legal Form : |
Joint-Stock Company |
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|
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Line of Business : |
Extraction of non-ferrous minerals, except for uranium and thorium. |
|
|
|
|
No. of Employees : |
374 |
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 – June 30th, 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 |
|
CORRECT COMPANY NAME |
COMPAÑIA MINERA
SANTA LUISA S.A. |
|
TRADE NAME |
COMPAÑIA MINERA
SANTA LUISA |
|
TAXPAYER REGISTRATION |
RUC 20100120314 |
|
MAIN ADDRESS |
República de Panamá,3531 Piso 15 Int.
1501, San Isidro |
|
POSTAL CODE |
Lima, 27 |
|
PROVINCE/ DEPARTAMENT |
Lima |
|
COUNTRY |
PERU |
|
TELEPHONE |
(511) 2212484 - 2212184 |
|
E-MAIL |
rtaoada@santa-luisa.com |
|
WEB |
www.mitsui-kinzoku.co.jp |
|
Date of foundation |
1964 |
|
Capital stock |
S/.1,566,378.= Nuevos Soles |
|
Shareholders' equity |
248,645,000.00 Nuevos Soles (31DEC2011) |
|
Annual revenues |
US$ 92,836,347.99 Nuevos Soles (31DEC2011)
|
|
Profits (loss) |
59,700,000.00 Nuevos Soles (31DEC2011) |
|
permanent employees |
374 |
|
Chief Executive |
GOMI, ATSUSHI |
|
Disposition |
EXCELLENT (Full information and updated
figures). |
|
Payments policy |
P2 Usually to terms/good |
|
Credit (**) |
A+ : With no Risk, Reliable, Solvent,
Profiatble, Good Financial Situation. |
|
LEGAL STATUS |
Joint-Stock Company |
|
DATE OF INCORPORATION |
31JUL1964 |
|
PLACE OF REGISTRY |
Lima (Registry of Trading Companies) |
|
NOTARY OFFICE |
Felipe de Osma Elías |
|
DURATION |
Perpetual |
|
REGISTRATION |
Entry 1, Page 275, Volume 7 |
|
CURRENT PAID-IN CAPITAL |
S/.1,566,378.= Nuevos Soles |
|
LAST CAPITAL INCREASE |
23/02/1995 (last registered) |
|
SHAREHOLDERS EQUITY |
248,645,000.00 Nuevos Soles (31DEC2011) |
|
CLASS OF SHARES |
Registered |
|
LISTED AT STOCK EXCHANGE |
Yes |
|
CURRENT EXCHANGE RATE (US$) |
S/.2.58 per 1 USD |
|
COMMENTS |
Shareholders with less than 5,000 shares hold 36.894%. |
|
FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
|
GOMI,
ATSUSHI |
Executive President |
|
|
|
CENTENO MARCELO, MARIO JULIO |
Accounting & Finance
Mgr. |
|
|
|
KAWASHIMA, TOSHIHIRO |
Director |
|
|
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VELARDE VENTURA, ROBERTO |
Lab. & Administration
Mgr |
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KAWANA, HIROSHI |
Director |
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HIRABAYASHI, YUKATA |
Director |
|
|
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YOSHIMOTO, SEIICHIRO |
Assistant Manager |
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KAWAMURA, KOJI |
Director |
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KAWADAI, ATSUCHI |
Director |
|
|
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MORALES SALVADOR, OSCAR |
Director |
|
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TABOADA, RUBEN |
Accountant |
|
|
|
MORALES SALVADOR, OSCAR |
Director |
|
|
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HAYAKAWA, TOMONORI |
Universal Agent |
|
|
|
PONCE ESPINOZA, LEONIDAS
JORGE ENRIQUE |
Shareholder |
5.046% |
|
|
BEHAR BEBEHAR, MORDO |
Shareholder |
3.507% |
|
|
BARREDA ZEGARRA, ALFREDO
AUGUSTO |
Shareholder |
2.544% |
|
|
PONCE ESPINOZA, VICTOR
AUGUSTO MANUEL |
Shareholder |
0.845% |
|
|
MITSUI MINING & SMELTING
CO.LTDA. |
Shareholder / Member |
38.613% |
|
|
MITSUI & COMPANY LTD. |
Shareholder / Member |
5.475% |
|
|
GOMI, ATSUSHI |
|
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NATIONALITY |
Japanese |
|
ASSOCIATED AS PER OUR DATABASE TO |
||||||||
|
|
CENTENO MARCELO,
MARIO JULIO |
|
|
NATIONALITY |
Peruvian |
|
D.O.B. |
03JUL1955 |
|
ID |
DNI 08820503 |
|
DOMICILE |
Loma de los Suspiros Mz.B6, Int. Lt.03,
Urb.Prolong.Benavides, Surco , Lima, Lima |
|
TELEPHONE |
2755441 |
|
TAX ID |
10088205036 |
|
BACKGROUND INFORMATION |
His Taxpayer ID (RUC) 10088205036 was issued on 18/11/1999 to be engaged in accounting activities. |
|
|
|
|
|
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|
KAWASHIMA,
TOSHIHIRO |
|
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NATIONALITY |
Japanese |
|
ID |
C.EXT. TH2465909 |
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|
|
KAWANA, HIROSHI |
|
|
NATIONALITY |
Japanese |
|
|
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|
YOSHIMOTO,
SEIICHIRO |
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NATIONALITY |
Japanese |
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ID |
C.E. 443029 |
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|
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KAWAMURA, KOJI |
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NATIONALITY |
Japanese |
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|
KAWADAI, ATSUCHI |
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|
NATIONALITY |
Japanese |
|
|
|
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MORALES
SALVADOR, OSCAR |
|
|
NATIONALITY |
Peruvian |
|
ID |
10471515 |
|
BACKGROUND INFORMATION |
Director and Operations Manager of COMPAÑIA MINERA SANTA LUISA S.A. |
|
|
|
|
MORALES
SALVADOR, OSCAR |
|
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NATIONALITY |
Peruvian |
|
ID |
10471515 |
|
BACKGROUND INFORMATION |
Director and Operations Manager of COMPAÑIA MINERA SANTA LUISA S.A. |
|
|
|
|
PONCE ESPINOZA,
LEONIDAS JORGE ENRIQUE |
|
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NATIONALITY |
Peruvian |
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ID |
08217307 |
|
DOMICILE |
1 Nro.266 Urb.Corpac, San Isidro, Lima
,Lima |
|
|
|
|
BEHAR BEBEHAR,
MORDO |
|
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NATIONALITY |
Peruvian |
|
ID |
DNI 07203987 |
|
|
|
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BARREDA ZEGARRA,
ALFREDO AUGUSTO |
|
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NATIONALITY |
Peruvian |
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D.O.B. |
19SEP1952 |
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ID |
DNI 08229666 |
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|
|
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PONCE ESPINOZA,
VICTOR AUGUSTO MANUEL |
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NATIONALITY |
Peruvian |
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ID |
DNI 08230835 |
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MITSUI &
COMPANY LTD. |
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BUSINESS
BACKGROUND Established on 25/07/1947, MITSUI & COMPANY LTD. is a Japan-based trading company, whose activities include the sale, distribution, procurement, marketing and supply of various products including iron and steel, nonferrous metals, machinery, electronics, chemicals, commodities and products related to electricity, foodstuff, textiles, general merchandise and real estate.The company also provides retail, communication technology, financial and transport services; development of energy resources and raw iron, and investment in new business like information technology, biotechnology and nanotechnology.Tokyo-based MITSUI & COMPANY LTD. has presence in Latin America, with offices in Mexico, Venezuela, Brazil, Peru, Argentina and Colombia. |
|
Subject Company was founded in 1964 as a subsidiary of MITSUI MINING & MELTING CO. LTD. from Tokyo, Japan. Compañia Minera Santa Luisa S.A. operates the Huanzala and Pallca mines in Ancash, producing zinc and lead concentrate. MITSUI MINING &
MELTING CO. LTD. Peru Branch, as the holder of the mining Concession of
Pallca has assigned its rights to
Compañía Minera Santa Luisa SA The contract will expire on March 31, 2015,
establishing that Mitsui receives a 5% royalty on the sale value of the
concentrates.
|
Main activity |
Extraction of non-ferrous minerals, except for uranium and thorium. |
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Import |
Yes |
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Country |
Belgium, Brazil, Canada, Chile, Finland,
France, Germany, Italy, Japan, Mexico, Switzerland, Sweden, United Kingdom,
USA, China, Canada, Sri Lanka. |
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ANNUAL Imports In US$ (CIF) |
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Export |
Yes |
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COUNTRY |
Japan |
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Annual exports in US$ (FOB) |
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SELLING TerritorY |
Domestic and international market |
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EMPLOYEES |
374 |
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Comments |
Subject Company is ruled by the General Mining Act.Its Taxpayer ID (RUC) 20100120314 was issued on July 31st, 1964 and renewed on March 31, 2004 to be engaged in the extraction of non-ferrous minerals, establishing its tax domicile at Av. República de Panamá 3531, Centro Empresarial San Isidro (Lima 27).Business Purpose: Exploitation and development of all mines, water and lands, every class of personal property and real estate that are useful for mining business and other related to the mining industry, exercise of rights from the possession and use of assets witthout limitation of any other industrial or commercial activity agreed by the Board of Directors.The Company operates in the Huanzala Mine that produces zinc and lead concentrates. The zinc concentrate is mainly sold to Mitsui Mining & Smelting Co Ltd. and lead concentrate is sold to Doe Run Peru S.R.L.Sale prices are fixed based on the quotations of the international market price at the time of sale and each payment is established in U.S. Dollars. Mitsui del Peru SA acts as a sales agent in sale transactions of zinc concentrate.
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Disposition |
EXCELLENT (Full information and updated
figures). |
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Information provided |
The company´s executives refused to provide information as it is considered confidential.Consequently, we had to consult third-party sources, such as databases and official, through which we could confirm and update the information contained in this report.We have included the Balance Sheet as of 31/12/2011 (12 months), expressed in Nuevos Soles.Likewise, we have enclosed the Interim Balance Sheet as of 30/06/2010 (6 months). |
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FINANCIAL SITUATION |
A+: GOODTaking into account the last Financial Statement submitted and/or other factors analyzed, we estimate that Subject's financial Situation is GOOD due to the following considerations:- Liquidity Ratio is higher or similar than industry average, it has a positive working capital allows Subject to comply with payments promptly. Shareholders' equity covers its current liabilities largely. Results are positive.- Although we do not have Financial Statements, the economic and financial results have been satisfactory, , Subject's trend is positive and Shareholders' support is important. |
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(Confidential Information)
|
TRADE REFERENCES |
||||||||||||||||||||||||||||||||||||
|
Note : Other suppliers did not provide information or could not be consulted
|
Supplier |
Country |
Comment |
|
FERREYROS SAA |
PERU |
They have not replied to our request for
references |
|
TAMROCK GOLD CORPORATION |
FINLAND |
|
|
ATLAS COPCO ROCK DRILL |
SWEDEN |
|
|
ACORDEX INC. |
U.S.A. |
|
|
ATLAS COPCO BGATNER INC. |
U.S.A. |
|
|
KOMATSU AMERICAN CORPORATION |
U.S.A. |
|
|
UNION CARBIDE CHEMICALS |
U.S.A. |
|
|
PRECISIÒN HIDROSTATIC INC. |
U.S.A. |
|
|
AUTOCUMPO MINTED |
FINLAND |
|
|
QUÍMICA SOL SA |
PERU |
We could not contact this company |
|
NORMET CHILE LIMITADA |
CHILE |
|
|
NOVA ROTORS S.R.L |
ITALY |
|
|
MITSUBISHI MATERIALS CORPORATION |
JAPAN |
|
|
NORELCO CRANE SERVICES LTD |
CANADA |
|
|
NORELCO INDUSTRIES LTD |
CANADA |
|
|
CARLTON STATE CINNAMON EXPORTERS |
SRI LANKA |
|
|
ZHEJIANG WINCHOICE IMP/EXP CO., LTD |
CHINA |
|
|
SILVER PRINTING CO., LTD |
HONG KONG |
|
SUPERINTENDENCY OF BANK & INSURANCE (SBS)
Debt structure for bank. SBS Latest Consolidated Credit Report as of :
31/12/2012
|
Bank |
Debt
Rating |
Current
Debt |
|
|
S/. |
US$ |
||
|
BANCO SCOTIABANK PERÚ |
NORMAL |
1,950,406.00 |
|
|
Total |
1,950,406.00 |
|
|
|
Guarantees |
810,900.00 |
|
|
CONSOLIDATED DEBT (ALL
BANKS) ENTITIES
NUMBER : 1 31/12/2012
|
|
|
Domestic
Currency |
Foreign
Currency |
|
CREDIT CARDS |
:
|
5,011.00 |
|
|
OTHER INDIRECT
CONTINGENT DEBTS |
:
|
1,945,935.00 |
|
|
|
|
-------------------------------------------- |
-------------------------------------------- |
|
TOTAL DEBT |
:
|
1,950,946.00 |
|
|
|
|
========================= |
========================= |
|
|
||||||||||||
|
Comments : |
||||||||||||
|
||||||||||||
BANKERS
Banking is with:
SCOTIABANK
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.