MIRA INFORM REPORT

Report Date :

19.08.2014

IDENTIFICATION DETAILS

Name :	IMPORTADORA NOBELSTAR LTDA.
Registered Office :	Zofri Mz. 7 Galpón 16, Barrio Industrial Zofri, Zona Franca de Iquique
Country :	Chile
Date of Incorporation :	01.01.1993
Legal Form :	Limited Liability Partnership
Line of Business :	Importation, trading of kitchen utensils: Pots, pans, cutlery and various household goods and gifts.
No of Employees :	12

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 – June 01, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Chile	A2	A1

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

CHILE - ECONOMIC OVERVIEW

Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports of goods and services account for approximately one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides 19% of government revenue. From 2003 through 2013, real growth averaged almost 5% per year, despite the slight contraction in 2009 that resulted from the global financial crisis. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has joined the United States and nine other countries in negotiating the Trans-Pacific-Partnership trade agreement. The Chilean Government has generally followed a countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and generally allowing deficit spending only during periods of low copper prices and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $20.9 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD.

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME

IMPORTADORA NOBELSTAR LTDA.

TRADE NAME

IMPORTADORA NOBELSTAR LTDA

TAXPAYER REGISTRATION

RUT 797954004

MAIN ADDRESS

Zofri Mz. 7 Galpón 16, Barrio Industrial Zofri, Zona Franca de Iquique

DEPT/PROV/REGION/STATE

Iquique / I Región Tarapacá

COUNTRY

CHILE

TELEPHONE

(5657) 2427434 - 2413965

CORPORATE E-MAIL

contab@nobels.cl

WEB

www.nobels.cl

COMMENTS

Fax: (56.67) 2412708

EXECUTIVE SUMMARY
Date of foundation	1993
permanent employees	12
Chief Executive	VASWANI, TRAKASH
Disposition	UNDETERMINED
Payments policy	Without rating (No payment experience traced)
Credit (**)	UNDETERMINED RISK.(Insufficient or Non existent information).
Number of times that this company was required: 2

LEGAL STRUCTURE
LEGAL STATUS	Limited Liability Partnership
DATE OF INCORPORATION	01JAN1993
CURRENT EXCHANGE RATE (US$)	Ps$576.20 per USD.1.00
COMMENTS
Found no information of the incorporation, neither the amount of the share capital nor personal details of the members.

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
VASWANI, TRAKASH	General Manager
PIZARRO QUEVEDO, EUGENIO	Finance Manager
LAKHWANI, SURESH	Legal Representative
LAKHWANI, JITEN	Assistant to Manager

WHO IS WHO?

VASWANI, TRAKASH

TITLE

General Manager

NATIONALITY

Indian

PIZARRO QUEVEDO, EUGENIO

TITLE

Finance Manager

NATIONALITY

Chilean

LAKHWANI, SURESH

TITLE

Legal Representative

NATIONALITY

Indian

D.O.B.

1959

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
IMPORTADORA NOBEL'S LTDA.	Member	79519410K	CHILE

LAKHWANI, JITEN

TITLE

Assistant to Manager

FATHER'S NAME

Suresh Lakhwani

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME	COUNTRY	TAX REG.	RELATION %
IMPORTADORA NOBEL'S LTDA.	CHILE	(AC) 79519410K	Related

BUSINESS

SIC Classification

H - DECORACION- ACCESORIOS PARA EL HOGAR (Industria de la decoracion, cortinas, persianas, alfombras, Muebles para el hogar, Lamparas, adornos, )

Main activity

Importation, trading of kitchen utensils: Pots, pans, cutlery and various household goods and gifts.

O P E R A T I O N S

Import

Yes

Country

India, China

Export

No

% CASH SALES / METHOD

Yes

% Credit SALES / Terms

Yes

% FOREIGN PURCHASES

100%

SELLING TerritorY

Domestic market - 100%

EMPLOYEES

12

LOCATION
PREMISES	Shared
OTHER PREMISES	Headquarters, administrative offices, warehouse operate at the above address. Premises are shared with the related company. We knew the Company has sale stands in the Free Trade Zone of Iquique. Tel. 56.57) 2418195

FINANCIAL INFORMATION
Disposition	REPORT PREPARED FROM OUTSIDE SOURCES.
Information provided	Even though we sent our formal request for information in advance, so far nobody has replied. In view of our insistence, we talked to Jiten Lakhawani (son of the owner), who merely said our request was being evaluated and if the General Manager deemed convenient, he would respond. As they have not answered, we have had to prepare this report based on data collected from third-party sources but no balance sheets and/or estimated accounting figures were available.
SALES	US$ 0.00 ()
FINANCIAL SITUATION	UNDETERMINED This is a company formed in 1993, controlled by foreign capital. Although no negative backgrounds have been reported, financial situation is indeterminate. No balance sheets or estimated accounting figures were available to assess this Company's current results.
Main fixed assets of the company (general detail)
Unknown.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

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

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

Supplier	Country
VARUN INDUSTRIES LTD.	INDIA
MS MANGALAM ULTRAMAR LLC	INDIA
SUMMIT IMPEX LTD.	CHINA
HEBEX CONSTRUCTION GROUP CORP LTDA.	CHINA
REDGATE	CHINA

BANKERS :

BANCO SANTANDER

Under bank secrecy, the above entity declined to give information about its client.

GENERAL INFORMATION

Explanation about commercial reputation

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.05
UK Pound	1	Rs.101.84
Euro	1	Rs.81.55

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	TPT

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.