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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIAL TEXTIL ACUARIO S.A. |
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Registered Office : |
Parinacochas 1180, La Victoria, Lima, 13 |
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Country : |
Peru |
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Date of Incorporation : |
01.07.1995 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Manufacture, importation, exportation and commercialization of items of clothing for men, women and children: Cotton, wool and synthetic fiber socks, underwear, among others. |
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No. of Employees
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236 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Peru |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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Source
: CIA |
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CORRECT COMPANY NAME |
INDUSTRIAL
TEXTIL ACUARIO S.A. |
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TRADE NAME |
INDUTEXA
S.A. |
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TAXPAYER REGISTRATION |
RUC 20267910813 |
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MAIN ADDRESS |
Parinacochas 1180, La Victoria |
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POSTAL CODE |
Lima, 13 |
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DEPT/PROV/REGION/STATE |
Lima / Lima |
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COUNTRY |
PERU |
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TELEPHONE |
(511) 4732913 - 4746570 |
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E-MAIL |
fernando.silva@indutexa.com.pe |
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WEB |
www.indutexa.com.pe |
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COMMENTS |
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No telephone numbers were provided in your order to expedite our investigation.Other e-mail: ventas@indutexa.com.pe |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
05JUL1995 |
STARTING DATE |
01/07/1995 |
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PLACE OF REGISTRY |
Lima |
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NOTARY OFFICE |
Oscar Medelius Rodriguez |
DURATION |
Perpetual |
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REGISTRATION |
Card 119513; Entry 00195340 |
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INITIAL CAPITAL |
S/.50,000.= Nuevos Soles |
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CURRENT PAID-IN CAPITAL |
S/.1,185,320.= Nuevos Soles |
LAST CAPITAL INCREASE |
14.01.2004 (568,237 shares) |
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CURRENT EXCHANGE RATE (US$) |
S/.2.80 per USD.1.00 |
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COMMENTS |
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According to SUNAT, the Company has been incorporated in the Regimen of Tax Withholding Agent (R.S.037-2002) as from 01/06/2002. |
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CUEVAS
VILLA, SANTOS ANANIAS |
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TITLE |
General Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
25JAN1951 |
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ID |
DNI 10303549 |
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CIVIL STATUS |
Married to Vilma Silva Violeta |
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PROFESSION |
Industrial engineer |
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TAX ID |
10103035495 |
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Charter Members: Ananías Cuevas Villa, Narciso Carlos Cuevas Villa and Jesus Marina Cuevas Villa, all of them Peruvian. |
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SIC Classification |
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Main activity |
Manufacture, importation, exportation and commercialization of items of clothing for men, women and children: Cotton, wool and synthetic fiber socks, underwear, among others.Brands: ALTEZA, EMPERADOR, BOYS & GIRLS, EMPERADOR KIDS.They also sell international brands such as: ADIDAS, REEBOK, FILA, BABY LOONY TUNES, BEN 10, TOM & JERRY. |
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Import |
Yes |
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Country |
Belgium,
Germany, Hungary, India, Italy, Poland, Portugal, Spain, Taiwan, Turkey and
United Kingdom |
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ANNUAL Imports In US$ (CIF) |
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Export |
Yes |
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COUNTRY |
Colombia,
USA. |
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Annual exports in US$ (FOB) |
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% CASH SALES / METHOD |
50% |
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% Credit SALES / Terms |
50%
at 30 days |
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% DOMESTIC PURCHASES |
Yes |
% FOREIGN PURCHASES |
Yes |
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SELLING TerritorY |
Domestic
market and abroad |
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EMPLOYEES |
236 |
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Comments |
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BUSINESS PURPOSE: Manufacture of hosiery and socks made of cotton, wool, synthetic fiber and other materials; manufacture of items of clothing, it shall also may be engaged in the trade, import, export of goods and commercial representations; advertising and production; it also provides services as advertising agency.
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Disposition |
TF: REPORT PREPARED FROM
OUTSIDE SOURCES. |
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Interviewee(s) |
Marco Antonio Marreros |
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Position(s) |
Accountant |
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Information provided |
Despite we explained to Mr. Marreros what the advantages of being reported by an international credit agency and getting an adequate credit rating, he refused categorically to reveal any information about the Company because he had not been authorized.We also tried to get the representatives of the Company but results were not favorable under confidentiality policy.Hence, this report has been prepared based on data collected from reliable third-party sources, official and our databases where no balance sheets or estimated accounting figures could be obtained, except for the Turnover 2012. |
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SALES |
US$
0.00 () |
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FINANCIAL SITUATION |
No balance sheets were available to assess the current standing of this Company. We only knew Turnover 2012 came to S/.40,500,000.= Nuevos Soles accounting for an increase of 3.10% in comparison with the previous year 2011 which totaled to S/.39,282,000.= Nuevos Soles.Business sources did not report negative backgrounds and credit experience in the financial sector is rated normal as per the Superintendence of Banka dn Insurance. |
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Insurance Comments |
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Information unavailable. |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
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TRADE REFERENCES |
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Note
: Other suppliers did not provide information or could not be consulted |
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SUPERINTENDENCY OF BANK & INSURANCE (SBS) |
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Debt structure for bank. SBS
Latest Consolidated Credit Report as of : 31/07/2013 |
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CONSOLIDATED DEBT (ALL
BANKS) ENTITIES
NUMBER : 3 31/07/2013 |
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REPUTATION |
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NOTHING AGAINST COMPANY |
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Financial standing is satisfactory. However, several lawsuits have
been reported against its majority shareholder. For this reason, discretion
is advised. |
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"PROTESTS IN GAMARRA AGAINST MASSIVE INCOMING OF CHINESE CLOTHING"Publication Year 2013Entrepreneurs denounced unfair competition to the growing incoming of products made in the Asian giant. They estimated that 80% of clothes that market supply is made in Chinese and only 20% is Peruvian."They are killing the domestic industry" protesters claimed. And today they are facing unfair competition. Chinese garments enter into the country with a price undervalued, and they are the representatives of the detriment of the local market.Manuel Salazar, President of the Association of Small businessmen in Gamarra, explained the situation they face: "The Chinese clothing is undervalued in our country without any restrictions, ie, it cost less than it real price. Thus, a sweater whose real value is five dollars |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.14 |
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1 |
Rs.100.48 |
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Euro |
1 |
Rs.84.36 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.