MIRA INFORM REPORT

Report Date :

27.08.2014

IDENTIFICATION DETAILS

Name :	KS DEPOR S.A.
Registered Office :	Mz.C, Lote 9, Ciudadela Zofratacna, Tacna
Country :	Peru
Date of Incorporation :	21.01.2000
Legal Form :	Joint-Stock Company
Line of Business :	Importation of footwear and textiles of prestigious brands
No of Employees :	18

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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)
Peru	A2	A2

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

PERU - ECONOMIC OVERVIEW

Peru's economy reflects its varied topography - 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. Peru is the world's second largest producer of silver and third largest producer of copper. The Peruvian economy has been growing by an average of 5.6% for the past five years with a stable exchange rate and low inflation, which in 2013 was just below the upper limit of the Central Bank target range of 1 to 3%. For the last three years, this growth was due partly to high international prices for Peru's metals and minerals exports, which account for almost 60% of the country's total exports. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs makes the economy vulnerable to fluctuations in world prices. Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by 28 percentage points since 2002, but inequality persists and continues to pose a challenge for the Ollanta HUMALA administration, which has championed a policy of social inclusion and a more equitable distribution of income. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. 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 EU, the European Free Trade Association, Chile, Thailand, Costa Rica, Panama, Venezuela, concluded negotiations with Guatemala, and begun trade talks with Honduras and El Salvador, Turkey and the Trans-Pacific Partnership. Peru also has signed a trade pact with Chile, Colombia, and Mexico, called the Pacific Alliance, that rivals Mercosur. Since the US-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the United States has doubled. 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	KS DEPOR S.A. (CORRECT NAME)
TAXPAYER REGISTRATION	RUC 20532145415
MAIN ADDRESS	Mz.C, Lote 9, Ciudadela Zofratacna
DEPT/PROV/REGION/STATE	Tacna
COUNTRY	PERU
TELEPHONE	(511) 6168484
CORPORATE E-MAIL	malfaro@grupodeport.com
WEB	www.ksdepor.com.pe (En mantenimiento)
COMMENTS
The correct name of the Company is as above indicated. The above domicile is the legal address of the Company. The address on your order are the administrative offices.
NOTE
The address on your order belongs to one of Subject's branches; hence, the correct address of Subjtect's head offices is mentioned in our report.

EXECUTIVE SUMMARY
Date of foundation	2000
permanent employees	18
Chief Executive	KAUFMAN BITTERMAN, HARRY
Disposition	FAIR
Payments policy	Usually to terms / good
Credit (**)	MODERATE RISK. (Acceptable financial situation but limited).
Number of times that this company was required: 2

LEGAL STRUCTURE
LEGAL STATUS	Joint-Stock Company
DATE OF INCORPORATION	21JAN2000	STARTING DATE	18/02/2000
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Carlos E. Becerra Palomino	DURATION	Perpetual
REGISTRATION	Entry 11007246
INITIAL CAPITAL	S/.20,000.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.80 per USD.1.00

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
BITTERMAN KANNER DE KAUFMAN, RAQUEL	Director	25%
KAUFMAN BITTERMAN, ARON	Director	25%
KAUFMAN BITTERMAN, HARRY	General Manager	25%
GORN VARGAS, JOSE ANTONIO GLENN	Representative
RAMIREZ ANDRADE, FAVIO ABRAHAM	Representative
ALFARO, MAGDALENA	Administrative Manager
KAUFMAN CUTENSTEIN, CHAIM	Shareholder	25%

WHO IS WHO?

BITTERMAN KANNER DE KAUFMAN, RAQUEL

TITLE

Director

NATIONALITY

Peruvian

D.O.B.

01JAN1938

ID

DNI 08221027

DOMICILE

Miroquesada 164-23, San Isidro, Lima ,Lima

TAX ID

10082210275

KAUFMAN BITTERMAN, ARON

TITLE

Director

NATIONALITY

Peruvian

D.O.B.

08NOV1967

ID

DNI 08273011

TAX ID

10082730112

KAUFMAN BITTERMAN, HARRY

TITLE

General Manager

NATIONALITY

Peruvian

D.O.B.

02APR1958

ID

DNI 07738981

TAX ID

10077389810

BACKGROUND INFORMATION

According to latest report by the Superintendence of Bank and Insurance as of 30/06/2014, no bank debts were reported.
He has compromised guarantees for S/.18,174,000.= Nuevos Soles.

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
LINEA NUOVA S A	Manager	20100052131	PERU
CORPORACION CAMINO REAL S.A.	General Manager		GUATEMALA
CONSTRUCTORA RYAN S.A.	President	20334533701	PERU
SOLIDEZ EMPRESARIAL S.A.	General Manager	20459980963	PERU
COMERCIAL DEPOR PERU S.A.	General Manager	20521205351	PERU
CONSTRUCTORA CAROLIN S.A.	General Manager	20306261259	PERU

GORN VARGAS, JOSE ANTONIO GLENN

TITLE

Representative

NATIONALITY

Peruvian

D.O.B.

13JUN1964

ID

DNI 16781563

PROFESSION

Lawyer

TAX ID

10167815630

RAMIREZ ANDRADE, FAVIO ABRAHAM

TITLE

Representative

NATIONALITY

Peruvian

D.O.B.

09MAY1973

ID

DNI 25831950

KAUFMAN CUTENSTEIN, CHAIM

TITLE

Shareholder

NATIONALITY

Peruvian

CIVIL STATUS

Married to Raquel Bitterman Kanner

PROFESSION

Businessman

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME	COUNTRY	TAX REG.	RELATION %
COMERCIAL DEPOR PERU S.A.	PERU	(AC) 20521205351	Related
CONSTRUCTORA RYAN S.A.	PERU	20334533701	Related
CORPORACION CAMINO REAL S.A.	PERU	(AC) 20203610263	Related
LINEA NUOVA S A	PERU	20100052131	Related

BUSINESS

SIC Classification

G - CALZADOS, ZAPATILLAS, CARTERAS, CORREAS, DE CUERO, GOMA, JEBE(Production and marketing of leather, rubber, rubber, such as Footwear, handbags, gloves, slippers)

Main activity

Importation of footwear and textiles of prestigious brands
Main Products: Patagonia, Converse, Joma, Sebago, CAT, Lotto, Merrell, Hi-Tech and Harley-Davidson Footwear.
 
Brands: CAT, HI-TEC, MERRELL, UMBRO, JOMA, CONVERSE, STEVE MADDEN, BATES

OPERATIONS

Import

Yes

Country

Cambodia, China, Costa Rica, Guatemala, India, Indonesia, Pakistan, Sri Lanka, Taiwan, Turkey, USA, Vietnan, Ireland

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2014	18,020,418.00
2013	29,748,544.00
2012	29,609,278.00

Export

No

SELLING TerritorY

Domestic market

EMPLOYEES

18

LOCATION

OTHER PREMISES

Headquarters operate at the above address. Branch: Jr. Jose Cossio 222, Magdalena Del Mar, Lima Administrative Offices: Jr. Sullana 1725 Int. 1, Lima Warehouse: - Carretera Panamericana Sur Km. 1303 Mza. D Lote. 7-8 Zofra Tacna (Lotes 7-8-9) Tacna - Carretera Panamericana Sur Km. 1303 Mza. C Lote. 9-10 Ciudadela Zofratacna (Lotes 9-10-15-16) Tacna - Sector Sta.Genoveva Parc. 3-4 Los Eucaliptos, Lurin, Lima - Calle Apurimac 130 Mza. 35 Lote. 09 A.H. Jose Galvez, Villa Maria Del Triunfo, Lima

FINANCIAL INFORMATION

Disposition

REPORT PREPARED FROM OUTSIDE SOURCES.

Information provided

This report has been prepared based on data collected from third-party sources as it was not possible to contact main executives.
We sent our introduction letter and information request to Magdalena Alfaro (Administrative Manager) but so far she has not replied.

SALES

US$ 0.00 ()

FINANCIAL SITUATION

FAIR
This Company has an experience of 14 years in the market which suggests is a company in a growth stage.

Sales History in US$ (of Balance Sheet, statement of third parties)

Date	Sales (US$)
31/12/2013	161,000,000.00
31/12/2012	176,000,000.00
31/12/2011	127,076,000.00
31/12/2010	115,995,000.00
31/12/2009	109,751,000.00

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: R Y M AGENTES DE ADUANAS S.A.	Tel.: 052-411643	Country: PERU
Goods/Services? : Customs services
Highest credit? : US$ 1,000,000.=
Client since? : 2009	Terms? : 15, 30 days	Performance? : Prompt

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

Supplier	Country
I.P.H. AGENCIA DE ADUANA E.I.R.L.	PERU
A & V AGENTES DE ADUANAS S.A.C.	PERU
SRI APPAREL LIMITED	IRELAND

CREDIT BUREAU COMMENTS

The Company has been reported a judicial debt collection owed to AFP INTEGRA SA concerning one overdue period for S/.2,245.= Nuevos Soles.

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/06/2014

Bank	Debt Rating (*) See caption	Current Debt
		DOMESTIC CURRENCY	FOREIGN CURRENCY
CREDITO	NORMAL	60,708,935.00
BBVA CONTINENTAL	NORMAL	37,932,768.00
SCOTIABANK	NORMAL	15,077,476.00
INTERBANK	NORMAL	11,642,253.00
FINANCIERO	NORMAL	7,370,080.00
Total		132,731,512.00
Guarantees		222,420,503.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.50
UK Pound	1	Rs.100.33
Euro	1	Rs.79.91

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SMN

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.