MIRA INFORM REPORT

Report Date :

30.08.2014

IDENTIFICATION DETAILS

Name :	CENCOSUD PERU S.A.
Registered Office :	Augusto Angulo 130 Of. 227, Urb. San Antonio, MIraflores
Country :	Peru
Date of Incorporation :	28.12.2007
Com. Reg. No.:	12106997
Legal Form :	Joint Stock Company
Line of Business :	Holding Company: (It made investments of any kind in companies or firms formed in Peru or abroad that are mainly focused on realty business and wholesale and retail.)
No of Employees :	565

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

CENCOSUD PERU S.A.

TAXPAYER REGISTRATION

RUC 20517905454

MAIN ADDRESS

Augusto Angulo 130 Of. 227, Urb. San Antonio, MIraflores

DEPT/PROV/REGION/STATE

Lima,18

COUNTRY

PERU

TELEPHONE

(511) 6260000 - 2130000

COMMENTS

Notice the complete address is as above indicated.
No telephone number was given on your order.

EXECUTIVE SUMMARY
Date of foundation	2007
permanent employees	565
Chief Executive	GASTAÑETA ALAYZA, LUIS
Disposition	SATISFACTORY
Payments policy	Without rating (No payment experience traced)
Credit (**)	Risk is Minimal, Solvent, Satisfactory Financial Situation.
Number of times that this company was required: 1

LEGAL STRUCTURE
LEGAL STATUS	Joint-Stock Company
DATE OF INCORPORATION	28DEC2007
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Anibal Corvetto Romero.
REGISTRATION	No. 12106997
INITIAL CAPITAL	S/.1,000.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.80 per USD.1.00

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
GASTAÑETA ALAYZA, LUIS	Shareholder	99.99%
RAFFO MONCLOA, GONZALO	Shareholder	0.01%
BAYLY LETTS, FELIPE	Representative
MOREYRA MARROU, MIGUEL MARTIN	Representative
CAMPODONICO CASTAÑEDA, MARIO VICENTE	Representative
YONG CALDERON, PABLO MIGUEL	Representative
SUMMERS COMPANY, MAGGIE ROCIO	Representative

WHO IS WHO?

BAYLY LETTS, FELIPE

TITLE

Representative

NATIONALITY

Peruvian

D.O.B.

16DEC1974

ID

DNI 10219339

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
TRES PALMERAS S.A.	Legal Representative	20208388500	PERU
CENCOSUD RETAIL PERU S.A.	Legal Representative	20109072177	PERU

MOREYRA MARROU, MIGUEL MARTIN

TITLE

Representative

NATIONALITY

Peruvian

D.O.B.

04FEB1974

ID

DNI 09344371

DOMICILE

Valle Riestra 310, San Isidro, Lima 27

PROFESSION

Lawyer

TAX ID

10093443719

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
CENCOSUD RETAIL PERU S.A.	Legal Representative	20109072177	PERU
TRAVEL INTERNATIONAL PARTNERS PERU S.A.C.	Legal Representative	20514088374	PERU
TRES PALMERAS S.A.	Legal Representative	20208388500	PERU
E. WONG S.A.	Legal Representative	20100106915	PERU

PARTICIPATED IN

COMPANY	TITLE	COUNTRY	YEAR / REF
NEXTEL DEL PERU S.A.	Manager	PERU	2014

CAMPODONICO CASTAÑEDA, MARIO VICENTE

TITLE

Representative

NATIONALITY

Peruvian

D.O.B.

16MAR1968

ID

DNI 10804125

REFERENCES

Debt with financial entities:
 
Banco de Credito: 
PEN: 27,498.=
USD: 668,986.=
Rating: Normal
 
Commercial Delinquency: (To 09/05/2014)
 
Telefonica moviles
Amount: S/.66.82.=

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
TRES PALMERAS S.A.	Legal Representative	20208388500	PERU
CENCOSUD RETAIL PERU S.A.	General Manager	20109072177	PERU

YONG CALDERON, PABLO MIGUEL

TITLE

Representative

NATIONALITY

Peruvian

D.O.B.

02MAR1981

ID

DNI 40873179

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
TRES PALMERAS S.A.	Legal Representative	20208388500	PERU
CENCOSUD RETAIL PERU S.A.	Legal Representative	20109072177	PERU

BUSINESS HISTORY

On 01.11.2008, the Company merged GSW S.A.
 
Cencosud Perú S.A. is part of one of the largest and most prestigious retail conglomerates in Latin America, Cencosud S.A. (Chile), which it is present in Argentina, Brazil, Chile, Peru, and Colombia.
 
The Group's operations extend to the supermarket business, home improvement, department stores, malls and financial services. This has made Cencosud Group the most diversified a capital company in South America. Besides, they develop other lines of business that complement core operation, such as insurance brokerage and family entertainment centers.

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME	COUNTRY	TAX REG.	RELATION %
CENCOSUD RETAIL PERU S.A.	PERU	(AC) 20109072177	Related
CINCO ROBLES S.A.C.	PERU	20470648997
E. WONG S.A.	PERU	(AC) 20100106915	Related
LOYALTY PERU S.A.C.	PERU	(AC) 20381600441
RIO PATIVILCA S.A.	PERU	20303569422
TELEDISTRIBUCION S.A.	PERU	20334461875
TRAVEL INTERNATIONAL PARTNERS PERU S.A.C.	PERU	20514088374

BUSINESS

SIC Classification

0 - ACTIVIDAD NO BIEN IDENTIFICADA (Actividades No bien especificadas y/o mixtas no determinadas.)

Main activity

Holding Company: It made investments of any kind in companies or firms formed in Peru or abroad that are mainly focused on realty business and wholesale and retail.

O P E R A T I O N S

Import

Yes

Country

China

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2014	2,083.00
2013	12,683.00

EMPLOYEES

565

	LOCATION
PREMISES	Own Settled
OTHER PREMISES	Facilities: AV. PASEO DE LA REPUBLICA NRO. S/N LIMA LIMA CHORRILLOS AV. LUIS GONZALES NRO. 711 (ESQ.CON ELIAS AGUIRRE) LAMBAYEQUE CHICLAYO CHICLAYO AV. CARRETERA CENTRAL KM. 2.5 LIMA LIMA SANTA ANITA AV. LAMBRAMANI NRO. 325 AREQUIPA AREQUIPA AREQUIPA JR. SOR MANUELA NRO. S/N URB. BARRIO PUEBLO LIBRE CAJAMARCA CAJAMARCA CAJAMARCA AV. REPUBLICA PANAMA NRO. 6009 URB. SAN ANTONIO (FRENTE A WONG DE PANAMA) LIMA LIMA CHORRILLOS AV. REPUBLICA DE PANAMA NRO. 6009 URB. SAN ANTONIO (FRENTE AL WONG DE BENAVIDES) LIMA LIMA MIRAFLORES

FINANCIAL INFORMATION

Disposition

Declined. For security reasons and/or competition.

Information provided

This report has been prepared based on data collected from outside sources where we got the following figures expressed in Nuevos Soles:
 
BALANCE SHEET 2010:
Sales: 89.552.000.= Profit: 13.154.000.= Shareh.Equity. 1.669.178.000.=
Total Assets: 1,747.143,000.= Current Liabilities: 77.965.000.=
 
BALANCE SHEET 2011:
Sales: 128.914.000.=  Profit: 9.415.000.= Shareh.Equity: 1.669.372.000.=
Total Assets: 2,400,719,000.= Total Liabilities: 731.347.000.=
 
BALANCE SHEET 2012:
Sales: 224.358.000.= Profit: 6.748.000.= Shareh.Equity: 1.845.233.000.=
Total Assets: 2.787.281.000.= Total Liabilities: 942.048.000 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

SATISFACTORY
Despite no balance sheets were available, the Company is economically supported by its owners.
It is publicly known that the Company operates without problems. It fulfills its obligations satisfactorily.

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

Date	Sales (US$)
31/12/2013	255,199,900.00

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

CREDIT BUREAU COMMENTS

The Company has been reported a debt owed to AFP HABITAT concerning six overdue documents for the sum of S/.2,901.36 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
CONTINENTAL	NORMAL	103,275,203.00	43,804,363.00
CREDITO	NORMAL	96,378,180.00
SCOTIABANK	NORMAL	42,377,888.00
Total		242,031,271.00	43,804,363.00
Guarantees		203,368,000.00	154,000,000.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.47
UK Pound	1	Rs.100.35
Euro	1	Rs.79.86

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

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.