MIRA INFORM REPORT

Report Date :

18.12.2014

IDENTIFICATION DETAILS

Name :	INES MARCELA JOHNSON NIETO

Registered Office :	Apóstol Santiago 18, Estación Central, Santiago de Chile

Country :	Chile

Year of Establishments :	1991

Legal Form :	Sole Propietorship Concern

Line of Business :	· Engaged in the designing and manufacturing of shower curtain · Subject also engaged in manufacturing linens, aprons, cushions and home textiles in general. Subject product ranges includes : · Sheets · Footboards & Cushions · Kids Line · Bathroom Line · Lung Cases · Covers Feather

No of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Chile

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

Concern identification details

Legal Name:	INES MARCELA JOHNSON NIETO
Trade Name:	INES JOHNSON
RUT:	8350848-5
Date Created:	1991
Date Incorporated:	01/01/1993
Legal Address:	Apóstol Santiago 18, Estación Central, Santiago de Chile, Chile
Operative Address:	Apóstol Santiago 18, Estación Central, Santiago de Chile, Chile
Telephone:	(56 2) 2779 6128 / (56-2) 2779 1602
Fax:	(56-2) 2779 6128
Legal Form:	Sole Propietorship Concern
Email:	NA
Registered in:	Santiago, Chile
Website:	www.inesjohnson.com
Manager:	Inés Marcela Johnson
Staff:	12
Activity:	· Engaged in the designing and manufacturing of shower curtain · Subject also engaged in manufacturing linens, aprons, cushions and home textiles in general.
BANKS	Banco Santander Rio
	The concern does not make its banking information public
	The concern began operating in 1991 making linen.
PRINCIPAL ACTIVITY
	Ines Jhonson is dedicated to the design and manufacture of shower curtains, manufacturing also linens, aprons, cushions and home textiles in general.
Products/Services description:	· Sheets · Footboards & Cushions · Kids Line · Bathroom Line · Lung Cases · Covers Feather
Brands:	INES JOHNSON
Sales are:	Wholesale
Clients:	Falabella Sodimac Jumbo Montserrat La polar Totus
Suppliers:	NA
Operations area:	National
The concern imports from	Argentina
The concern does not export	No exports
The subject employs	12 employees
Payments:	No Complaints

LOCATION
Headquarters :	Apóstol Santiago 18, Estación Central, Santiago de Chile, Chile
Branches:	The concern does not have branches
Industry:	Companies in this industry manufacture garments made from purchased fabric and from fabric they produce themselves. Demand is largely determined by consumer tastes and the comparative costs of manufacture in the US and overseas. The profitability of individual companies depends on efficient operations and the ability to secure contracts with clothing marketers. Small companies can compete effectively with large ones by specializing in a particular type of apparel manufacture. Because of the different skills and equipment needed to produce different types of clothes, manufacturers usually specialize in one type. Women's cut and sew apparel contractors, which provide contract cutting and sewing services on materials owned by apparel manufacturers, account for about 15 percent of industry revenue. Women's blouse and shirt manufacturing and women's dress manufacturing each account for about 10 percent of industry revenue.

GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a Sole Proprietorship Concern. The owner is: Inés Marcela Johnson
Management:	Inés Marcela Johnson, President
Related Companies:	No subsidiary companies

FINANCIAL INFORMATION
	This is a sole proprietorship concern which does not make its financial statements public. The following information has been confirmed by our private sources.
CURRENCY	USD
DATE	2014
NET INCOME	1 200 000
CASH FLOW	NORMAL
LEGAL FILINGS
	There are no legal/criminal connected to the subject
SUMMARY
	Ines Jhonson is a Chilean small sole proprietorship concern dedicated to the manufacture of linen items. The concern has 23 years of experience in the market and is active in business. The concern has well known clients from Chile and shows no negtaive.
RISK INFORMATION

DEBTS	Controlled
PAYMENTS	No complaints
CASH FLOW	Normal
STATUS	ACTIVE

ENTERVIEW
NAME	Ines
POSITION	Owner
COMMENTS	The person contacted confirmed address and activity. She refused to provide more data for confidential reasons.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.99.98
Euro	1	Rs.79.39

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	MNL

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.