MIRA INFORM REPORT

Report Date :

07.07.2014

IDENTIFICATION DETAILS

Name :	JAS IMPORT & EXPORT S.R.L.
Registered Office :	Sinchi Roca 2632, Lince, Lima, 14
Country :	Peru
Date of Incorporation :	06.11.1996
Legal Form :	Limited Liability Company
Line of Business :	engaged in import and trading of polyester fibers, synthetic fibers, and cotton threads.
No of Employees :	14

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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 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.

Source : CIA

IDENTIFICATION
CORRECT COMPANY NAME	JAS IMPORT & EXPORT S.R.L.
TAXPAYER REGISTRATION	RUC 20338048905
MAIN ADDRESS	Sinchi Roca 2632, Lince
POSTAL CODE	Lima, 14
DEPT/PROV/REGION/STATE	Lima / Lima
COUNTRY	PERU
TELEPHONE	(511) 2226828

COMMENTS

EXECUTIVE SUMMARY

Date of foundation	1996
permanent employees	14
Chief Executive	DAHOUD JARUFE VDA. DE ABUSADA, DALAL
Disposition	FAIR
Financial Situation	REPORT PREPARED FROM OUTSIDE SOURCES.
Payments policy	Usually to terms / good
Credit (**)	MODERATE RISK. (Acceptable financial situation but limited).
Company Size	(PE) SMALL COMPANY
Number of times that this company was required: 2

LEGAL STRUCTURE

LEGAL STATUS	Limited Liability Company
DATE OF INCORPORATION	06NOV1996	STARTING DATE	13/12/1996
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Ramón Espinosa Garreta	DURATION	Indefinite
REGISTRATION	Filing Card 134311 (18/11/1996), Record 03009433
INITIAL CAPITAL	S/.12,000.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.80 per US$1.= Dollar
COMMENTS
Subject's corporate name has been the same since its incorporation.

DIRECTORS

EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
DAHOUD JARUFE VDA. DE ABUSADA, DALAL	General Manager	Yes
ABUSADA DAHOUD, MANUEL	Legal Representative	Yes
ABUSADA DAHOUD, MILADI EMILIA	Legal Representative	Yes

WHO IS WHO?

DAHOUD JARUFE VDA. DE ABUSADA, DALAL

TITLE

General Manager

NATIONALITY

Peruvian

D.O.B.

04JUL1943 (Beit - Jala / Palestina / Asia)

ID

07207795

CIVIL STATUS

Widow(er) to Naguid Abusada S. (+)

DOMICILE

Inca Ripac 363, Jesús María, Lima / Lima

TAX ID

10072077950

FATHER'S NAME

Saliba

MOTHER'S NAME

María

BACKGROUND INFORMATION

She was born in Palestine, but is naturalized Peruvian.
 
Her tax ID number was issued on 08/01/1996 to be engaged as an Individual with a Sole Proprietorship in retail of textile products and footwear, establishing her tax residency on Jr. Sinchi Roca 2632 - Lince / LIma, 14. Trade name: CREACIONES MARBELLA.
 
CREDIT RISK CENTER: It was not found any protested documents, cancelled current accounts, cancelled credit cards.
 
SUPERINTENDENCY OF BANKING AND INSURANCES (SBS): In its last report to 30/04/2014, she is reported with debts of S/.2,218,719.= and US$2,004,211.=, corresponding to credit cards: S/.1,891.= and US$13,316.=, credits to medium-sized companies S/.2,209,654.= and US$1,193,524.=, credit accrued returns S/.7,714.= and US$ 3,257.=, guarantees S/.3,351,415.=.
 
Her debt structure to that date is as follows:
B. CREDITO S/. 210.= US$ 0.=
B. INTERBANK 2,214,764.= 1,990,895.=
B. CONTINENTAL 1,841.= 0.=
B. CITIBANK DEL PERU 1,881.= 13,315.=
B.FALABELLA 23.=  0.=
 
The SBS has granted her the 100% NORMAL rating since 31/12/2011.

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TAX REG	STA.	COUNTRY	TITLE
GRAND BON MARCHE DE LIMA S.A	20100635748		PERU	General Manager
TEXTIL SAN JORGE S.A.	20297788508		PERU	Director

ABUSADA DAHOUD, MANUEL

TITLE

Legal Representative

NATIONALITY

Peruvian

D.O.B.

06JAN1975

ID

DNI 10137814

ABUSADA DAHOUD, MILADI EMILIA

TITLE

Legal Representative

NATIONALITY

Peruvian

D.O.B.

07AUG1961

ID

DNI 07206499

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TAX REG	STA.	COUNTRY	TITLE
MULTIFILAMENTOS PERU S.A.C.	20503341558		PERU	Finance Manager
COTTON TEXTIL DEL PERU S.A.			PERU	General Manager
TEXTIL SAN JORGE S.A.	20297788508		PERU	Chairman of Board of Dirs

BUSINESS HISTORY

According to subject's articles of incorporation, its founders were Dalal Dahud Jarufe de Abusada, Miladi Emilia Abusada Dahoud, and Manuel Abusada Dahoud (400 shares each).

BUSINESS

Main activity

Subject is engaged in import and trading of polyester fibers, synthetic fibers, and cotton threads.

OPERATIONS

Import

Yes

Country

Brazil, China, Colombia, Germany, Mexico, United Kingdom, USA

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2014	9,522,366.00
2013	13,981,382.00
2012	14,818,759.00

Export

Yes

COUNTRY

Ecuador

Annual exports in US$ (FOB)

YEAR	AMOUNT
2014	469,957.00
2013	1,454,752.00
2012	374,434.00

% DOMESTIC PURCHASES

Yes

% FOREIGN PURCHASES

Yes

SELLING TerritorY

Domestic and international market

EMPLOYEES

14

LOCATION

OTHER PREMISES

Subject's tax residency and head offices are located on the above-mentioned address. Formerly, its tax residency was located on the following addresses: - C.C. San Felipe s/n, Jesús María / Lima, 11 (Unregistered on 07/08/1998) - Jr. de la Unión 536, Lima / Lima, 1 (Unregistered on 22/04/1997) - Jr. de la Unión 546, Lima / Lima, 1 (Unregistered on 03/01/1997) Subject has the following warehouses: - Av. Santa María 266, Urb. La Aurora 1 Etapa (Sector 2), Ate /Lima, 3 - Av. Los Frutales 333, Urb. Los Artesanos, Ate / Lima, 3 - Av. Santa mría 175, Urb. Ampliación La Aurora (Mz. A Lt. 18 y 19 ), Ate / Lima, 3

FINANCIAL INFORMATION

Interviewee(s)

Third-party sources

Disposition

REPORT PREPARED FROM OUTSIDE SOURCES.

Information provided

Please note that information contained in this report was obtained from indirect sources (reliable public and private sources) because it was not able to obtain any information directly under internal policy.
 
It was not found any balance sheets. It was only found out subject's turnover for the fiscal years 2011 and 2012, which are mentioned below.

SALES

US$ 0.00 ()

FINANCIAL SITUATION

FAIR
Although no financial statements are available, it may be said that this is a big-sized company that has operated for 18 years. It should be mentioned that during the time of its operations, no operating problems were reported. Its credit experience with entities in the financial sector is normal.

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

Date	Currency	Sales (US$)
31/12/2012	PEN	48,328,000.00
31/12/2011	PEN	39,006,000.00

			Sales (US$)	ER
>	equivalent	>	18,952,156.86	2.55
>	equivalent	>	14,500,371.75	2.69

Comments about insurance and claims?

It was not obtained any information on insurances.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

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

Supplier	Country	Comment
KEWALRAM TEXTILES PVT LTD.	INDIA

THE FOLLOWING INFORMATION IS REPORTED BY RISK INFORMATION CENTER

No reported banking debt.

CREDIT BUREAU COMMENTS

It was not found any on protested documents, cancelled current accounts, cancelled credit cards, tax debts and pension-related debts with any of the pension fund administrators.

BANK DEBT REPORTED BY SUPERINTENDENCY OF BANK & INSURANCE (SBS)      

As of: 30/04/2014          ER per USD: 0

Bank	Current Debt		Debt Rating (*) See caption
	DOMESTIC CURRENCY	FOREIGN CURRENCY
B. CREDITO	202,221.00	6,115,192.00	NORMAL
B. SCOTIABANK	112,258.00	1,221,082.00	NORMAL
B. CONTINENTAL	79,888.00	6,124,931.00	NORMAL
B. INTERBANK		2,192,339.00	NORMAL
Total	394,367.00	15,653,544.00
Guarantees	4,853,708.00	6,648,601.00

GENERAL COMMENT

The SBS has granted subject the 100% NORMAL rating since 31/12/2011. BANCO DE CREDITO DEL PERU - BCP SCOTIABANK PERU BBVA BANCO CONTINENTAL BANCO INTERNACIONAL DEL PERU - INTERBANK Subject banks with the above-mentioned entities, which do not provide any references on their clients under bank secrecy. However, from indirect sources, it is known that subject makes use of bank facilities (discounts, loans, foreign trade credits, letters of guarantee).

CREDIT HISTORY

In our files, it was not found any on subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.79
UK Pound	1	Rs.102.66
Euro	1	Rs.81.32

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%)

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.