MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	TRANS BUSINESS SERVICES DE MEXICO S.A. DE C.V.
Registered Office :	Amores No. 1641, Col. Del Valle, Delegación Benito Juárez, 03100 México D.F. , Distrito Federal
Country :	Mexico
Date of Incorporation :	27.03.1996
Legal Form :	Stock Company of Variable Capital
Line of Business :	Subject is engaged in the manufacture and marketing of dental instruments, such as: · Instrumental for Orthodontics · Instruments for Endodontics · Explorers, Probes and Endodontics Excavators · Instrumental for Extraction · Excavators · Cement and Silicone Spatulas · Cases, Cleaning Curette and Instruments
No. of Employees :	05

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 :	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)
Mexico	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

MEXICO - ECONOMIC OVERVIEW

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5.5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and in July it formed the Pacific Alliance with Peru, Colombia and Chile. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.6% in 2010 with exports - particularly to the United States - leading the way. Growth slowed to 3.9% in 2011 and slightly recovered to 4% in 2012. In November 2012, Mexico's legislature passed a comprehensive labor reform which was signed into law by former President Felipe CALDERON. Mexico's new PRI government, led by President Enrique PENA NIETO, has said it will prioritize structural economic reforms and competitiveness. The new president signed the Pact for Mexico, an agreement that lists 95 priority commitments, along with the leaders of the country's three main political parties: the Institutional Revolutionary Party (PRI), the National Action Party (PAN) and the Party of the Democratic Revolution (PRD)

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME

TRANS BUSINESS SERVICES DE MEXICO S.A. DE C.V.

TRADE NAME

TBS

TAXPAYER REGISTRATION

RFC TBS969327UMA

MAIN ADDRESS

Amores No. 1641, Col. Del Valle, Delegación Benito Juárez,

POSTAL CODE

03100

DEPT/PROV/REGION/STATE

México D.F. , Distrito Federal

COUNTRY

MEXICO

TELEPHONE

(5255) 55247575 - 55247576 - 55240209

CORPORATE E-MAIL

tbs@tbsdentmex.com.mx

WEB

www.tbsdentmex.com.mx

FAX: (55) 55247575 - 55247576 - 55240209

Toll-free number: 01-800-5225000 / 01-800-0140000

EXECUTIVE SUMMARY
Date of foundation	1996
permanent employees	5
Chief Executive	FRÍAS CHAIREZ, OSCAR
Disposition	Declined. For security reasons and/or competition.
Payments policy	(P5) Without rating (No payment experience traced)
Credit (**)	MODERATE RISK. (Acceptable financial situation but limited).
Number of times that this company was required: 1

REPUTATION

NOTHING AGAINST COMPANY

LEGAL STRUCTURE

LEGAL STATUS	Stock Company of Variable Capital
DATE OF INCORPORATION	27MAR1996
PLACE OF REGISTRY	México D.F.
NOTARY OFFICE		DURATION	99 years
CURRENT EXCHANGE RATE (US$)	Ps$.12.85 per 1 US$
COMMENTS
We were unable to obtain registration information of the company from the local registry, the capital amount, or its shareholder structure.

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE
FRÍAS CHAIREZ, OSCAR	General Director

WHO IS WHO?

FRÍAS CHAIREZ, OSCAR
TITLE	General Director
NATIONALITY	Mexican

BUSINESS HISTORY

Trans Business Services de México S.A. de C.V., is a 100% Mexican company, which was founded on March 27, 1996 in Mexico City DF and since its foundation has not changed in its structure.

The company has had a remarkable and vigorous growth . In just over five years, has grown from 15 products that it initially handled to more than 350, in a stunning range of lines. It is dedicated to supporting the dentists in their different specialties, for them to develop in a more simple, reliable and secure way, achieving the full satisfaction of their patients.

No related companies found.

BUSINESS

SIC Classification
3 9 - MISCELLANEOUS MANUFACTURING INDUSTRIES. (Jewelry, Silverware and plated ware, precious metal, musical instruments, signs and advertising displays, buttons, etc.)

Main activity

Subject is engaged in the manufacture and marketing of dental instruments, such as:

-Instrumental for Orthodontics

-Instruments for Endodontics

-Explorers, Probes and Endodontics Excavators

-Instrumental for Extraction

-Excavators

-Cement and Silicone Spatulas

-Cases, Cleaning Curette and Instruments

-Etc.

Sold brand: "TBS" (Company's logo)

O P E R A T I O N S

Import

Yes

Country

Pakistan, through direct credit.

Export

No

% Credit SALES / Terms

100% (Terms: 30 days)

% FOREIGN PURCHASES

100%

SELLING TerritorY

100% Domestic market sales

EMPLOYEES

5

LOCATION
OTHER PREMISES	The above location is the administrative offices, sales offices and tax domicile of the company. These facilities are located within a commercial area of the city of Mexico. OTHER LOCATION: The company has no other premises.

Comments

Subject has its own network of distributors located in Aguascalientes, Baja California Norte, Campeche, Coahuila, Chiapas, Chihuahua, Distrito Federal, Durango, Guanajuato, Guerrero, Hidalgo, Jalisco, Mexico, Michoacan, Morelos, Nayarit, Nuevo Leon, Oaxaca, Puebla , Queretaro, Quintana Roo, San Luis Potosi, Sinaloa, Sonora, Tabasco, Tamaulipas, Veracruz, Yucatan and Zacatecas, such as:

-Rodolfo Gracia Bermúdez

-Álvaro Roldan Vélez

-Francisco J. Soto Marrón

-Distribuidora Dental Jalisco S.A. de C.V.

-Representaciones Dentales de Mexicali S. de R.L. de C.V.

-Proveedora Pinzón S.A. de C.V.

-Promovago de la Laguna S.A. de C.V.

-Mega Dental México S.A. de C.V.

-Deposito Dental Asahi S.A. de C.V.

-Etc.

The company has ISO 9002 Certification.

The business relationship that the company establishes with its distributors, puts them at the forefront of the market:

. Lines 01-800 (toll free within Mexico) to expedite attention to orders.

. Delivery of products in major cities of Mexico at an average of 48 hours.

. Frequent visits to the cities of the country, promoting Distributors in congresses and major shopping events.

. Constant new product launches

. Manufacturing warranty up to two years

FINANCIAL INFORMATION

Disposition	Declined. For security reasons and/or competition.
Interviewee(s)	Mr. Oscar Frias Chairez
Position(s)	General Director
Information provided	We interviewed Mr. Oscar Frias Chairez (General Director) who declined to provide any information regarding the company as it is considered of confidential nature. Therefore all data contained in this report was obtained through different external sources because directly refused to provide any type of business and financial information about the company as it is considered of internal use and confidential.
SALES	US$ 0.00 ()
FINANCIAL SITUATION	No negative information was found against this company in commercial circles.
Property of company comments
-Transportation Equipment -Furniture and Office Equipment -Computer Equipment .
Main fixed assets of the company (general detail)
No insurance related information could be obtained.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Subject does not register local credit experiences since it carries out mainly importing activities.

Supplier: ESTRATEGIA Y DESARROLLO	Tel.: (55) 10546918	Country: MEXICO
Goods/Services? : Developed company's website 3 or 4 years ago
Highest credit? : n/a
Client since? : Sv.yrs.
Comments : No further details available

Comments :

Did not provide the name of the banks with which the company works.

GENERAL INFORMATION

Explanation about commercial reputation

CREDIT OPINION

As balance sheet was declined and payment references are unknown and other information, we regret not being able to give a credit opinion.

NOTE : The opinion given is confidential, referential and with out liability.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

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.