MIRA INFORM REPORT

 

 

Report Date :

18.10.2013

 

IDENTIFICATION DETAILS

 

Name :

PERU LYCRA S.A.C.

 

 

Registered Office :

RUC 20516180251, Unanue 868, int. 201, La Victoria, Lima, 13

 

 

Country :

Peru

 

 

Date of Incorporation :

22.05.2007

 

 

Legal Form :

Closely-held Corporation

 

 

Line of Business :

Subject is engaged in import, trade, distribution of yarns, clothing, textile products and raw materials.

 

 

No. of Employees :

16

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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

PERU LYCRA S.A.C.

TRADE NAME

PERU LYCRA

TAXPAYER REGISTRATION

RUC 20516180251

MAIN ADDRESS

Unanue 868, int. 201, La victoria

POSTAL CODE

Lima, 13

DEPT/PROV/REGION/STATE

Lima

COUNTRY

PERU

TELEPHONE

(511) 7199353 - 7199349

CORPORATE E-MAIL

chcubas@perulycra.com  ; gpalacios@perulycra.com   

 

 

EXECUTIVE SUMMARY

 

Date of foundation

2007

permanent employees

16

Chief Executive

CUBAS CUBAS, JOSEPH CHARLES

Disposition

Moderate. Some data and figures were confirmed.

Payments policy

 Without rating (No payment experience traced)

Number of times that this company was required: 1

 

LEGAL STRUCTURE

 

LEGAL STATUS

Closely-held Corporation

 

 

DATE OF INCORPORATION

22MAY2007

 

 

PLACE OF REGISTRY

Lima

 

 

NOTARY OFFICE

Mario Gino Benvenuto Murguia

DURATION

Perpetual

INITIAL CAPITAL

S/.26,400.= Nuevos Soles

 

 

COMMENTS

 

 
Subject was incorporated as FERELI TEXTILE TRADERS SAC - FETT SAC. On 08/10/2009, Subject changed its legal name into the current.

 

DIRECTORS

EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

CUBAS MOLINA, JOSE FERNANDO

Shareholder

85%

 

ECHEVARRIA LOPEZ, ELIA YANETH

Shareholder

15%

 

CUBAS CUBAS, JOSEPH CHARLES

General Manager

 

 

PALACIOS ATARAMA, GUILLERMO

General Accountant

 

 

 

 

WHO IS WHO?

 

CUBAS MOLINA, JOSE FERNANDO

TITLE

Shareholder

NATIONALITY

Peruvian

D.O.B.

051946

ID

DNI 09072145

TAX ID

10090721459

 

 

ASSOCIATED AS PER OUR DATABASE TO

COMPANY

TITLE

TAX REG

COUNTRY

PERU JACKARD S.A.C.

 

20502368975

PERU

 

 

 

 

ECHEVARRIA LOPEZ, ELIA YANETH

TITLE

Shareholder

NATIONALITY

Honduran

ID

DNI C.Ext. 000053948

 

 

 

 

CUBAS CUBAS, JOSEPH CHARLES

TITLE

General Manager

NATIONALITY

Peruvian

D.O.B.

111973

ID

DNI 07507854

CIVIL STATUS

Married to ECHEVARRIA LOPEZ,ELIA YANETH

PROFESSION

Business Administrator

TAX ID

10075078540

 

BUSINESS

 

SIC Classification
5 6 - RETAIL TRADE APPAREL AND ACCESSORY STORES, BOUTIQUES, BAZAARS. (Bazaars, Boutiques, Design houses.)

Main activity

 
Subject is engaged in import, trade, distribution of yarns, clothing, textile products and raw materials. Moreover, Subject outsources dressmaking to other companies.

OPERATIONS

Import

Yes

Country

Germany, India, Pakistan

ANNUAL Imports In US$ (CIF)

YEAR

AMOUNT

2013

5,152,386.00

2012

6,937,160.00

2011

4,046,296.00

Export

No

% CASH SALES / METHOD

40%

% Credit SALES / Terms

60% 30, 60 days

% DOMESTIC PURCHASES

10%

% FOREIGN PURCHASES

90%

EMPLOYEES

16

LOCATION

OTHER PREMISES

 
Business premises: ABTAO  1231, 2do. piso, la VICTORIA, lima
Business premises: AMERICA 567, LA VICTORIA, lima

 

 

FINANCIAL INFORMATION

 

Disposition

Moderate. Some data and figures were confirmed.

Interviewee(s)

Lita Izquierdo

Position(s)

Accounting Assistant

Information provided

 
Ms. Lita izquierdo (Accounting Assistant) kindly provided commercial data to prepare Subject's profile but she denied providing accounting figures since she is not authorized. 
 
She stated that estimate of its monthly sales amounted to US$ 25,000.00 dollars.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
B: FAIR
No adverse against Subject were found in the market.

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

 

TRADE REFERENCES

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

 

Supplier

Country

TRANSEL AGENCIA DE ADUANA S.A.

PERU

 

RISK INFORMATION CENTER

 

COMMERCIAL DELINQUENCY

 

Drawer

Document

Protested date

Amount S/.

Amount US$

Payment date

JESEPH CHARLES CUBAS CUBAS

 

30/04/2010

0.00

3,229.10

06/02/2012

 

 

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

 

 

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 31/08/2013

 

 

Bank

Debt Rating
(*) See caption

Current Debt

DOMESTIC CURRENCY

FOREIGN CURRENCY

CONTINENTAL

NORMAL

3,677,079.00

 

CREDITO

NORMAL

2,005,101.00

 

SCOTIABANK

NORMAL

940,744.00

 

INTERBANK

NORMAL

877,123.00

 

BIF

NORMAL

696,734.00

 

Total

8,196,781.00

 

Guarantees

10,279,134.00

 

 

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 5                           31/08/2013

 

 

 

Domestic Currency

Foreign Currency

LOANS

:

3,541,873.00

 

DISCOUNTS

:

1,950,477.00

 

FINANCIAL LEASING

:

73,042.00

 

FOREIGN TRADE

:

2,508,522.00

 

CREDIT CARDS

:

5,014.00

 

 

:

117,854.00

 

 

 

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

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

TOTAL DEBT

:

8,196,782.00

 

 

 

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

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

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.58

UK Pound

1

Rs.98.51

Euro

1

Rs.83.49

 

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.