MIRA INFORM REPORT

 

 

Report Date :

26.06.2013

 

IDENTIFICATION DETAILS

 

Name :

ORICA CHEMICALS PERU S.A.C.

 

 

Registered Office :

Dionisio Derteano 144, Piso 20, Urb. Santa Ana, San Isidro, Lima, 27

 

 

Country :

Peru

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

24.08.1995

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Import, marketing of chemicals used as raw materials in the food industry, cosmetics, detergents and construction.

 

 

No. of Employees :

55

 

 

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 :

Slow but correct

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 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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

ORICA CHEMICALS PERU S.A.C.

TAXPAYER REGISTRATION

RUC 20291398902

MAIN ADDRESS

Dionisio Derteano 144, Piso 20, Urb. Santa Ana, San Isidro,

POSTAL CODE

Lima, 27

DEPT/PROV/REGION/STATE

Lima / Lima

COUNTRY

PERU

TELEPHONE

(511) 6113500

CORPORATE E-MAIL

juan.maguina@orica.com

COMMENTS

 

 
The report was requested with the previous company name.
 
The order was forwarded without phone number.
 
Other email: anggela.armas @ orica.com
 
No website.

 

 

 

EXECUTIVE SUMMARY

 

Date of foundation

1995

Capital stock

S/.3,028,972.= Nuevos Soles

Shareholders' equity

15,442,207.00 Nuevos Soles (31DEC2012)

Profits (loss)

4,309,615.00 Nuevos Soles (31DEC2012)

permanent employees

55 (Data 2013/03, according to SUNAT)

Chief Executive

MARCHINI PINTO, CLAUDIA

Disposition

Declined. For security reasons and/or competition.

Payments policy

Delays but within sector norms

Credit (**)

 MODERATE RISK. (Acceptable financial situation but limited).

Number of times that this company was required: 3

 

 

LEGAL STRUCTURE

 

LEGAL STATUS

Joint-Stock Company

 

 

DATE OF INCORPORATION

24AUG1995

STARTING DATE

24/08/1995

REGISTRATION

Record 00225959, Index Card 121414.

 

 

INITIAL CAPITAL

S/.10,000.= Nuevos Soles

 

 

CURRENT PAID-IN CAPITAL

S/.3,028,972.= Nuevos Soles

 

 

SHAREHOLDERS EQUITY

15,442,207.00 Nuevos Soles ()

 

 

CURRENT EXCHANGE RATE (US$)

S/.2.70 per 1 USADollar

 

 

COMMENTS

 

 
Incorporated on 24/07/1995 as ICI EXPLOSIVES PERU SA
 
The name changed on 18/06/1998 to ORICA PERU SA
 
By direct sources, we know that ORICA PERU S.A. absorbed by merger ORICA CHEMICALS PERU SAC (RUC 20260733916 DISCONTINUED) thus changing its name to the present style.
Consequently, on 21/05/2012 ORICA PERU S.A. changed its name to the currently used:   ORICA CHEMICALS PERU S.A.C.  (RUC 20291398902)
 
 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

MARCHINI PINTO, CLAUDIA

General Manager

 

 

RAMIREZ LOO, CARLOS MANUEL

Commercial Manager

 

 

MAGUIÑA MURO, JUAN MANUEL

Representative/Comptrolle

 

 

LEON MONTEJO, ROSA

Special Representative

 

 

ARMAS VICENTE, ANGGELA KARINA

General Accountant

 

 

 

 

WHO IS WHO?

 

MARCHINI PINTO, CLAUDIA

TITLE

General Manager

ID

DNI 40020335

DOMICILE

Central 960 Int. 103, Block H, Cond. Colinas del Prado Los Alamos, Surco, Lima / Lima

TAX ID

10400203356

FATHER'S NAME

Juan Andrés Marchini

MOTHER'S NAME

Virginia Pinto

 

 

ASSOCIATED AS PER OUR DATABASE TO

COMPANY

TITLE

TAX REG

COUNTRY

NOKIA SIEMENS NETWORK PERU S.A.

Controller

20473806186

PERU

 

 

 

 

RAMIREZ LOO, CARLOS MANUEL

TITLE

Commercial Manager

ID

DNI 09803553

 

 

MAGUIÑA MURO, JUAN MANUEL

TITLE

Representative/Comptrolle

ID

DNI 10610673

 

 

LEON MONTEJO, ROSA

TITLE

Special Representative

NATIONALITY

Peruvian

ID

DNI 07490635

BACKGROUND INFORMATION

 
By Minutes of G.M. dated 21/12/2011, was intended to provide power to Rosa León Montejo (DNI 07470635), for representing the company at sole signature, to start, continue, answer or participate in all proceedings (litigation and non-contentious) or complaints with all relevant bodies and organizations of the national public administration, regional or municipal departmental or provincial or district, even before the INDECOP1, SUNAT, (including for this purpose processing schemes, operations and Customs destinations, and all operations under Legislative Decree No. 1053 and regulations and procedures and standards that are modified or replaced, and apply for any regime, destination or customs operation on goods entering or leaving Peruvian territory, and also to subscribe  Customs Declarations that are necessary as part of the arrangements, operations and customs-and / or foreign trade operations carried out by the company); entities or autonomous bodies and administrative tribunals or commissions , may pay or act as paying agent of all kinds of taxes, fines and surcharges; make complaints and appeals, waivers or disclaimers in all instances, requesting and collecting the amounts or duties of which repayment was ordered; intervene in all such acts, requests, procedures and processes to political authorities, tax, customs, military, police, labor and / or any other nature or administrative audit of taxes or revenues, with the broadest general and special powers that the process, procedure, or claims requiring intervention.
Represent the Company in accordance with the powers conferred by Article 115 ° and the other relevant Law No. 27444, General Administrative Procedure Act.
Remove from post offices, customs, trucking companies, sea or air, all kinds of goods or correspondence, including certified, money, reimbursements, charges, goods, postal items, etc.., Marked or directed to company .
Sign, endorse and authorize transport documents, bills of lading, air waybills, bills of lading, invoices, certificates of origin, packing lists and other documents to be filed with the Customs Administration to qualify for any system, operation or customs- and for goods entering or leaving Peru.
The Act runs on pages 84-85 of the Book called Minutes No. 3, registered under No. 26378 and legalized 23.08.2004, before Lima notary Eduardo Laos de Lama.
It consists of the OL02.2012 Certified Copy, Notary of Lima Aníbal Corvetto Aníbal Romero.

 

 

ARMAS VICENTE, ANGGELA KARINA

TITLE

General Accountant

NATIONALITY

Peruvian

D.O.B.

22DEC1986

ID

DNI 43992758

 

 

ORICA EXPLOSIVES HOLDING PTY LTD.

 

 

BUSINESS BACKGROUND

Australian Company
Established in 1874.

 

 

 

BUSINESS HISTORY

 

 
Listed as company founders: Julio César Francisco Berninzon Ponce (0.015), Miguel Eduardo Torres Pajares (0.01%), John Leslie Miller Anderson (0.01%) and Ici Omicron B.V. duly reported by Julio César Berninzon Ponce (99.97%).

 

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

ORICA CHEMICALS PERU S.A.C.

PERU

(BD) 20260733916

Related

ORICA MINING SERVICES PERU S.A.

PERU

(AC) 20131016639

Related

 

 

BUSINESS

 

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

Main activity

 
Import, marketing of chemicals used as raw materials in the food industry, cosmetics, detergents and construction.

O P E R A T I O N S

Import

Yes

ANNUAL Imports In US$ (CIF)

YEAR

AMOUNT

2013

13,363,003.00

2012

40,680,694.00

Export

Yes

COUNTRY

Chile

Annual exports in US$ (FOB)

YEAR

AMOUNT

2013

815,094.00

2012

167,064.00

% Credit SALES / Terms

60% Terms: 30, 45, 60 days

% DOMESTIC PURCHASES

05%

% FOREIGN PURCHASES

95%

SELLING TerritorY

100% local market

EMPLOYEES

55 (Data 2013/03, according to SUNAT)

LOCATION

 

PREMISES

Rented

OTHER PREMISES

 
The heading address is the Tax Domicile / Headquarters.
 
Previously reported Tax Domiciles:
- Av. Víctor Andrés Belaunde 395, San Isidro / LIma, 27 (Discontinued since 25/03/2010)
- CAlle Manuel Gonzales Olaechea 435, Urb. Limatambo, San Isidro / Lima, 27 (Discontinued since 16/08/2006)
- Calle Bernardo Monteagudo 201, San Isidro / Lima, 27 (Discontinued since 16/07/2004)
- Calle Marconi 451, San Isidro / Lima, 27 (Discontinued since 24/06/1998)
 
Warehouse:
- Av. Nestor Gambeta Km. 14.2, Mz. S/N, Lote Sub1 Ex-Fundo Oquendo, Callao / Callao, 1
- Av. Los Materiales 3049, URrb. Industrial Wiese, Lima / Lima, 1
- Av. Néstor Gambeta Km. 14.5, Callao / Callao, 1
- Av. Oquendo Mz. HR (Calle 4 Sublote), Callao / Callao, 1
- Campamento 1 s/n, Asiento Minero Tintaya, Espinar, Espinar / Cusco
- Av. N. Gambeta 14-02, Orica, Callao.
 
 
 

Comments

 

 
Its registered purpose is to engage in the manufacture of explosives, chemicals, related accessories and other inputs used in mining. Import, export, purchase, sale and distribution of the goods mentioned above. Blasting services and ammunition and weapons storage and related.

 

 

FINANCIAL INFORMATION

 

Disposition

Declined. For security reasons and/or competition.

Interviewee(s)

Angela Armas Vicente

Position(s)

General Accountant

Information provided

 
The interviewed person has confirmed, revised and increased commercial data. With regards to our request for financial data, she gave out the main accounts of the latest Balance Sheet available at 31/12/2012 (12 months) expressed in Nuevos Soles.
 
In public sources we found some complementary information about the company.

 

BALANCE SHEET

 

Balance sheet date

31DEC2012

 

 

 

Type of balance sheet

Annual

 

 

 

Period

12 Months

 

 

 

Currency

Nuevos Soles

 

 

 

Exchange rate per US$

2.55

 

 

 

A S S E T S

 

 

 

 

Current Assetsd

104,650,377.00

 

 

 

Fixed

138,600.00

 

 

 

Total Assets

104,788,977.00

 

 

 

L I A B I L I T I E S

 

 

 

 

Current liabilities

89,346,770.00

 

 

 

Long term

0.00

 

 

 

TOTAL LIABILITIES

89,346,770.00

 

 

 

S H A R E H O L D E R S'  E Q U I T Y

 

 

 

 

Total shareholders equity

15,442,207.00

 

 

 

Total Liab. / Sh. equity

104,788,977.00

 

 

 

Sales

241,441,895.00

 

 

 

Profit (Loss)

4,309,615.00

 

 

 

FINANCIAL SITUATION

 
B: FAIR
According to the latest Financial Statement submitted to us and / or other factors analyzed, we estimate that the financial situation of the company is FAIR, by the following:
On the one hand, they show a liquidity ratio greater than or similar to the average in the sector, working capital is positive. On the other hand, it is notedhas a higher debt to equity accounts,  operating results are very limited.

Insurance Comments

 

 
Manage corporate insurance.

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

 

(Confidential Information)

TRADE REFERENCES

Supplier: COMERCIALIZADORA DE PRODUCTOS BETA

Tel.: 5255 56527675

Country: MEXICO

Highest credit? : n/a

 

 

Comments : No reply received to our request yet.

 

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

 

Supplier

Country

JEM LOGISTIC S..A.C.

PERU

MONTANA S.A.

PERU

QUIMICA NAVA S.A.C.

PERU

AUSA ADUANAS S.A.C.

PERU

UNICHEMA CHEMIE B.V.

ITALY

 

RISK INFORMATION CENTER

 

COMMERCIAL DELINQUENCY

 

Drawer

Document

Protested date

Amount S/.

Amount US$

Payment date

MONTANA

Draft

23/10/2012

0.00

1,455.83

09/05/2013

QUIMICA NAVA S.A.C.

Draft

29/10/2012

0.00

24,780.00

10/05/2013

 

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

 

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/04/2013

 

Bank

Debt Rating
(*) See caption

Current Debt

DOMESTIC CURRENCY

FOREIGN CURRENCY

CREDITO

NORMAL

5,882,646.00

 

SCOTIABANK

NORMAL

3,390,169.00

 

CITIBANK PERU

NORMAL

983,135.00

 

Total

10,255,950.00

 

Guarantees

73,294.00

 

 

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 3                           30/04/2013

 

 

 

Domestic Currency

Foreign Currency

DISCOUNTS

:

1,009,075.00

 

OTHER INDIRECT CONTINGENT DEBTS

:

9,246,593.00

 

 

:

282.00

 

 

 

--------------------------------------------

--------------------------------------------

TOTAL DEBT

:

10,255,950.00

 

 

 

=========================

=========================

 

 

Comments :

Banking is with: CITIBANK DEL PERU BANCO DE CREDITO DEL PERU - BCP SCOTIABANK PERU SAA The Company is a client of the above banks. Further information was not given under bank secrecy. The SBS gives 100% NORMAL rating since 31/05/2012.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.70

UK Pound

1

Rs.92.25

Euro

1

Rs.78.38

 

 

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.