MIRA INFORM REPORT

Report Date :

18.10.2013

IDENTIFICATION DETAILS

Name :	TEXTIL DIAZ PONCE E.I.R.L.

Registered Office :	Evaristo San Cristóbal 1455 Lima, 13 15

Country :	Peru

Date of Incorporation :	28.12.2006

Legal Form :	Single-Member Limited Liability Company

Line of Business :	Subject is engaged in manufacture and weaving of textile fibres.

No. of Employees :	15

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 :	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 – 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	TEXTIL DIAZ PONCE E.I.R.L.
TAXPAYER REGISTRATION	RUC 20514984299
MAIN ADDRESS	Evaristo San Cristóbal 1455
POSTAL CODE	Lima, 13
DEPT/PROV/REGION/STATE	Lima / Lima
COUNTRY	PERU
TELEPHONE	(511) 3662444 - 3254350
CORPORATE E-MAIL	contabilidad_textildiaz@hotmail.com
COMMENTS
As a reference, the address, stated in the identification field, is located in the corner with Jr. Huánuco Cdra. 19. The request did no include a telephone number.

EXECUTIVE SUMMARY

Date of foundation	2006
Capital stock	S/.850,000.= Nuevos Soles
permanent employees	15
Chief Executive	DIAZ PONCE, JOSE LUIS
Disposition	REPORT PREPARED FROM OUTSIDE SOURCES.
Payments policy	Delays but within sector norms

LEGAL STRUCTURE

LEGAL STATUS	Single-Member Limited Liability Company
DATE OF INCORPORATION	28DEC2006	STARTING DATE	18/01/2007
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Mario Gino Benvenuto Murguía	DURATION	Perpetual
REGISTRATION	Entry No 11967045
INITIAL CAPITAL	S/.1,000.= Nuevos Soles
CURRENT PAID-IN CAPITAL	S/.850,000.= Nuevos Soles	LAST CAPITAL INCREASE	December 2009
CURRENT EXCHANGE RATE (US$)	S/.2.77 per 1 USD

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
DIAZ PONCE, JOSE LUIS	Owner/Manager	100%	12/01/2007

WHO IS WHO?

DIAZ PONCE, JOSE LUIS
TITLE	Owner/Manager
NATIONALITY	Peruvian
D.O.B.	091980
ID	DNI 41722881
CIVIL STATUS	Single
DOMICILE	Teofilo Castillo 344, 2do Piso, Urb. Apolo, La Victoria, Lima ,Lima
TAX ID	10417228816
BACKGROUND INFORMATION	Code: ESSALUD 8009171DZPCJ006 Type of insurance REGULAR Affiliate Code: 594791JDPZC8 Current AFP: Prima Private Pension System entry date: 13/02/2003
REFERENCES
BANK DEBT So far no bank debts have been reported by local financial entities. Last report as of 31.12.2009, found a debt amounting to S/.44,933 Nuevos Soles. Rating: NORMAL payment record

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, etc.)

Main activity

Subject is engaged in manufacture and weaving of textile fibres.

Company is engaged in manufacture, production, commercialization, distribution, sales representation, import and export of fabrics of all kinds, textile supplies in general.

O P E R A T I O N S

Import

Yes

Country

China, India, Indonesia

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2013	655,588.00
2012	1,455,195.00

Export

% CASH SALES / METHOD

40%

% Credit SALES / Terms

60% 15 and 30 days-terms

% DOMESTIC PURCHASES

10%

% FOREIGN PURCHASES

90%

SELLING TerritorY

100% Domestic market

EMPLOYEES

LOCATION
PREMISES	Rented
AREA	100 m2
OTHER PREMISES	Branch and registered office operate in the address stated in the identification. Headquarters: Manuel Cisneros 700, La Victoria. Production premises: - Jr. Las Mercedes 1046, Z.I. Azcarruz Bajo (4 blocks from Puente Nuevo), La Victoria / Lima, 13 - Jr. Abtao 919 (facing to Estadio), La Victoria / Lima, 13 Commercial premise: Pj. San Cristobal No 1253, La Victoria, Lima. Warehouse: Jr. Sebastián Barranco 1077 (altura cuadra 9 Jr. Abtao), La Victoria / Lima, 13

PREVIOUS ADDRESS

Antonio Bazo 1088, Dpto. 3, La Victoria / Lima, 13 (De baja el 11/12/2007)

Comments

According to SUNAT, number of dependent employees is 15 as of August, 2013.

- Industrias de Diseños Exclusivos E.I.R.L.

- Truecolor S.A.C.

- Sussy Mamani.

FINANCIAL INFORMATION

Disposition	TF: REPORT PREPARED FROM OUTSIDE SOURCES.
Interviewee(s)	Terceras fuentes
Information provided	We tried to contact any Company's Representative. We even were provided with the Accounting Assistant's cell phone number, 996202913, but unfortunately we never reached him. We send our written request but no reply has been received to date. Leila La Madrid seller stated that main address is Manuel Cisneros 700 -La Victoria and the address Evaristo San Cristóbal 1455 belongs to a branch (which appears as the registered office. We turned to different indirect sources where we obtained basic data. No Balance Sheets or referential figures were available.


SALES	US$ 0.00 ()
FINANCIAL SITUATION	FAIR Despite not having Financial Statements, we learnt Subject's payment performance.
Main fixed assets of the company (general detail)

We couldn't obtain current insurance information.

Based on, it is known that Subject is insured with LA POSITIVA CIA. DE SEGUROS Y REASEGUROS, for all risk insurance.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: PLASTICOS BOLSITEX S.R.L.	Tel.: (511) 3268079	Country: PERU
Goods/Services? : Polyethylene roll
Highest credit? : US$ 4,500
Client since? : 2010	Terms? : Cash	Performance? : Prompt
Supplier: PERU JACKARD S.A.C.	Tel.: (511) 7199353	Country: PERU
Goods/Services? : Fabric, yarns
Highest credit? : DC Not specified
Client since? : 2013	Terms? : 45 days	Performance? : Prompt
Comments : Regular client. Until 2013
Supplier: COMERCIAL TEXTIL COILL S.R.L.	Tel.: (511) 4736558	Country: PERU
Goods/Services? : Textiles
Highest credit? : DC No specified
Client since? : 2013	Terms? : 45 days	Performance? : Prompt

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

Supplier	Country
TEXCOPE S.A.C.	PERU
TINTESA S.A.	PERU
PRECOTEX S.A.C.
FILASUR S.A.	PERU
CIXI CITY RONG WEI TEXTILE CO. LTD.	CHINA
LAHOTI OVERSEAS LTD.	INDIA
TAEKWANG INDUSTRIAL CO. LTD.	SOUTH COREA
NINGBO XIANGYE TEXTILES CO. LTD.	CHINA
M/S. GANGES JUTE (P) LTD.	INDIA
ANHUI TRIUMPH IMPORT AND EXPORT CO. LTD.	CHINA

RISK INFORMATION CENTER

COMMERCIAL DELINQUENCY

Drawer	Document	Protested date	Amount S/.	Amount US$	Payment date
FILASUR S.A.		08/04/2013	0.00	3,773.86
PRECOTEX S.A.		07/03/2013	0.00	12,500.00
TEXCOPE S.A.C.		07/03/2013	0.00	11,928.34	16/05/2013
FILASUR S.A.		28/02/2013	0.00	9,379.58
FILASUR S.A.		15/01/2013	0.00	1,020.83
COMERCIAL TEXTIL COIL S.R.L		29/10/2012	0.00	10,557.00
COMERCIAL TEXTIL COIL S.R.L.		31/10/2012	0.00	6,201.37
TINTESA S..A		05/11/2009	0.00	1,100.00
TINTESA S.A.		08/09/2009	0.00	729.95
SOLEIL MILL S.A.C		12/05/2009	0.00	5,692.68
COMERCIAL TEXTIL COILL S.R.L.		04/11/2008	0.00	8,355.91

CREDIT BUREAU COMMENTS

Subject reports 11 protested draft, 10 of which are pending to solve with a total value amounted to US$59,311. It is worth mentioning that document can continue appearing as pending to solve before the Chamber of Commerce, even though it has been paid.

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
Bank	Debt Rating (*) See caption	DOMESTIC CURRENCY	FOREIGN CURRENCY
SCOTIABANK	NORMAL	345,479.00	72,638.00
CREDITO	NORMAL	104,427.00	719,640.00
Total		449,906.00	792,278.00
Guarantees			1,941,947.00

CONSOLIDATED DEBT (ALL BANKS) ENTITIES NUMBER : 2 31/08/2013

		Domestic Currency	Foreign Currency
LOANS	:	282,000.00	546,270.00
DISCOUNTS	:	167,143.00	95,797.00
FOREIGN TRADE	:		147,330.00
	:	763.00	2,881.00
		--------------------------------------------	--------------------------------------------
TOTAL DEBT	:	449,906.00	792,278.00
		=========================	=========================

Comments :

The SBS has rated Subject as 100% NORMAL since 12/31/2010. SCOTIABANK PERU SAA BANCO DE CREDITO DEL PERU - BCP Subject works with the above-mentioned Banks, which do not provide references under bank secrecy principle. However, based on other sources we can state that Subject uses bank facilities.

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 :

SDA

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.