MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	M.R.M. IMPORT S.A.C.

Registered Office :	Humboldt 1373, Int. 206 - 207, La Victoria, Lima, 13 Lima / Lima

Country :	Peru

Date of Incorporation :	22.04.2013

Legal Form :	Closely-held Corporation

Line of Business :	Subject is engaged in import and trade of fabrics for clothing dressmaking.

No. of Employees :	02

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New company
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

M.R.M. IMPORT S.A.C.

TAXPAYER REGISTRATION

RUC 20539134745

MAIN ADDRESS

Humboldt 1373, Int. 206 - 207, La Victoria,

POSTAL CODE

Lima, 13

DEPT/PROV/REGION/STATE

Lima / Lima

COUNTRY

PERU

TELEPHONE

(511) 3232687

COMMENTS

It is worth mentioning that the request did not include telephone numbers to facilitate investigation.

EXECUTIVE SUMMARY
Date of foundation	2013
Capital stock	S/.10,000.= Nuevos Soles
permanent employees	2
Chief Executive	ROMERO SANCHEZ, SEGUNDO FELIPE
Disposition	Moderate. Some data and figures were confirmed.
Payments policy	(P5) Without rating (No payment experience traced)
Credit ()**	UNDETERMINED RISK.(Insufficient or Non existent information).
Number of times that this company was required: 1

REPUTATION

NOTHING AGAINST COMPANY

LEGAL STRUCTURE

LEGAL STATUS	Closely-held Corporation
DATE OF INCORPORATION	22APR2013	STARTING DATE	02/05/2013
PLACE OF REGISTRY	Chiclayo
NOTARY OFFICE	Antonio Vera Mendez.	DURATION	Undetermined
REGISTRATION	Deed 1740, Entry 11175563 of R.P.C
INITIAL CAPITAL	S/.10,000.= Nuevos Soles
CURRENT PAID-IN CAPITAL	S/.10,000.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.78 per 1 USD

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
*ROMERO SANCHEZ, SEGUNDO FELIPE*	General Manager	70%	25/04/2013
ROMERO PEREZ, RENZO CARLOS SEGUNDO	Assistant Manager	30%	23/04/2013

WHO IS WHO?

ROMERO SANCHEZ, SEGUNDO FELIPE
TITLE	General Manager
NATIONALITY	Peruvian
D.O.B.	061957
ID	DNI 16646944
DOMICILE	Cacique Cinto 252, Urb. Latina, Lambayeque / Chiclayo
TAX ID	10166469444


ROMERO PEREZ, RENZO CARLOS SEGUNDO
TITLE	Assistant Manager
NATIONALITY	Peruvian
D.O.B.	041985
ID	DNI 45762743
DOMICILE	Humboldt 1570, Int. 301, Urb. Gamarra (1 cuadra C.C. Parque Canepa) La Victoria, Lima
TAX ID	10457627438

BUSINESS

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

Main activity

Subject is engaged in import and trade of fabrics for clothing dressmaking.

O P E R A T I O N S

Import

Yes

Country

China.

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2013	158,817.00

Export

% CASH SALES / METHOD

90%

% Credit SALES / Terms

10% 30 days-terms

SELLING TerritorY

100% Domestic market

EMPLOYEES

LOCATION

PREMISES

Rented

OTHER PREMISES

Administrative and sales offices and warehouse operate in the address stated in the identification field.

Subject's Registered office is Calle 7 de Enero 1560, Chiclayo - Lambayeque, being able to establish branches and offices nationwide or worldwide.

Comments

100% wholesaler

FINANCIAL INFORMATION

Disposition	Moderate. Some data and figures were confirmed.
Interviewee(s)	Deisi Vargas Huanca.
Position(s)	Accounting Assistant
Information provided	Mrs. Deisi Vargas Huanca, duly authorized, provided general data except for Balance Sheets since it is a new company which has not closed its first fiscal year yet. However, Subject reported sales accumulated since May to date. Some interesting data was obtained from third reliable sources. No further figures were.


SALES	US$ 0.00 ()
FINANCIAL SITUATION	UNDETERMINED Due to its recent incorporation, Subject has not closed it first fiscal year, however, we learnt that sales accumulated as of May 2013 to date amounted to s/. 200, 000 Nuevos Soles. Though further figures were not obtained nor references to give a better opinion indicating its credit record performance, it is worth mentioning that no adverse against Subject were found in consulted sources. According to the Banking and Insurance Superintendency, Subject's credit references, with entities in the field, are described as Normal. Based on the information, we suggest being cautious during all transactions due to it is a new company and there are not clear tendencies nor defined financial structure.
Main fixed assets of the company (general detail)
Subject has not a insurance policy.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

TRADE REFERENCES

Supplier: AGENCIA DE ADUANA PEGASO S.A.	Tel.: (511) 4642606	Country: PERU
Goods/Services? : Customs services
Highest credit? : DC Unlimited
Client since? : 2012	Terms? : Cash	Performance? : No experience

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

Supplier	Country
CHANGXING HUALONG SILK CO LTDA.	CHINA

CREDIT BUREAU COMMENTS

To date, no protested documents, NSF checks, closed accounts or lawsuit against Subject were found. Moreover, no coercive collection or tax omissions with the State were found.

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/08/2013

Bank	Debt Rating () See caption*	Current Debt
		DOMESTIC CURRENCY	FOREIGN CURRENCY
SCOTIABANK	NORMAL	431,560.00
Total		431,560.00

CONSOLIDATED DEBT (ALL BANKS) ENTITIES NUMBER : 1 30/08/2013

		Domestic Currency	Foreign Currency
LOANS	:	430,700.00
	:	860.00
		--------------------------------------------	--------------------------------------------
TOTAL DEBT	:	431,560.00
		=========================	=========================

Comments :

The SBS has rated Subject as 100% NORMAL

GENERAL INFORMATION

Explanation about commercial reputation

CREDIT OPINION

Consulted Credit Amount :	MAXIMUM?
NOTE : The opinion given is confidential, referential and with out liability.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Report Prepared by :

NIS

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.