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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HORTUS S.A. |
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|
|
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Registered Office : |
Sucre 270 Urb. Semi Rústica La Molina, Ate, Lima, 3 |
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Country : |
Peru |
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Financials (as on) : |
31.03.2013 (Interim Balance Sheet) 31.12.2011 (Balance Sheet) |
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Year of Establishment : |
1956 |
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Com. Reg. No.: |
Entry 1, Page 215, Vol. 160; Municipal Lic. 2695 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
engaged in import and distribution of seeds and agrochemicals. |
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No of Employees : |
183 |
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 |
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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 |
HORTUS S.A. |
|
TAXPAYER REGISTRATION |
RUC 20101637221 |
|
MAIN ADDRESS |
Sucre 270 Urb. Semi Rústica La Molina,
Ate, |
|
POSTAL CODE |
Lima, 3 |
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DEPT/PROV/REGION/STATE |
Lima / Lima |
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COUNTRY |
PERU |
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TELEPHONE |
(511) 7179040 |
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CORPORATE E-MAIL |
|
|
WEB |
|
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COMMENTS |
|
The request was made without phone number. |
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NOTE |
|
|
The address on your order is an uncompleted
and incorrect spelling address, the correct and complete address is as
above-mentioned. |
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REPUTATION |
|
NOTHING AGAINST COMPANY |
EXECUTIVE SUMMARY |
|
|
Date of foundation |
1956 |
|
Capital stock |
S/.6,035,961.= Nuevos Soles |
|
Shareholders' equity |
19,049,119.00 Nuevos Soles (31DEC2011) |
|
Annual revenues |
US$ 18,400,535.53 Nuevos Soles (31DEC2013)
|
|
Profits (loss) |
2,677,300.00 Nuevos Soles (31DEC2011) |
|
permanent employees |
183 |
|
Chief Executive |
SANCHEZ ESTELA, HECTOR ALFREDO |
|
Disposition |
Moderate. Some data and figures were
confirmed. |
|
Payments policy |
Usually to terms / good |
|
Credit (**) |
With no Risk, Reliable, Solvent,
Profiatble, Good Financial Situation. |
|
Number of times that this company was
required: 9 |
|
LEGAL STRUCTURE |
|||
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
09MAR1993 |
STARTING DATE |
16/05/1956 |
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PLACE OF REGISTRY |
Lima |
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NOTARY OFFICE |
DURATION |
Perpetual |
|
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REGISTRATION |
Entry 1, Page 215, Vol. 160; Municipal
Lic. 2695 |
|
|
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CURRENT PAID-IN CAPITAL |
S/.6,035,961.= Nuevos Soles |
||
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SHAREHOLDERS EQUITY |
19,049,119.00 Nuevos Soles (31DEC2013) |
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|
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CURRENT EXCHANGE RATE (US$) |
S/.2.80 Nuevos Soles per 1 USD |
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MEMBERSHIP |
Cámara de Comercio de Lima , Camara de
Comercio Peru-Chile |
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COMMENTS |
|
||
There is no information regarding who holds the remaining 5%. |
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DIRECTORSEXECUTIVES –
SHAREHOLDERS |
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WHO IS WHO? |
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CEARDI
HARRINGTON, GUILLERMO ALFREDO |
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TITLE |
President |
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NATIONALITY |
Chilean |
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TAX ID |
35736972 |
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BACKGROUND INFORMATION |
He also acts as the Administration and Finance Manager of the company Anasac. |
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SANCHEZ ESTELA,
HECTOR ALFREDO |
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TITLE |
General Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
06DEC1974 (Chiclayo/Chiclayo, Lambayeque) |
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ID |
DNI 16724511 |
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CIVIL STATUS |
Single |
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DOMICILE |
Joaquín Madrid 412 - 201, Betelgeuse, San
Borja, Lima |
|
FATHER'S NAME |
Tomás Sánchez |
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MOTHER'S NAME |
María Estela |
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REFERENCES |
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The BANKING AND INSURANCE SUPERINTENDENCY in its last report as of 02/28/2010 granted a 100% NORMAL rating. Subject registered obligations with financial entities: B.CREDITO, S/.17,631.= NORMAL RATINGB.SCOTIABANK, US$12,86.= NORMAL RATINGB.CONTINENTAL, NORMAL RATINGB.RIPLEY, S/.915.= NORMAL RATINGB.CENCOSUD, B.FALABELLA, S/.4.125.= NORMAL RATINGF.CREDISCOTIADELIVERED GUARANTEES US$34,748.=Such obligations were composed by: - Mortgage credit for housing S/.35,857.=- Consumption credit S/.22,599.=- Accrued yield with current credits S/.72.=GUARANTEES S/.97,293.=SBS has rated Subject has 100% NORMAL since 12/31/2011. |
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DE MARCHENA
GUZMAN, EUGENIO |
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TITLE |
Shareholder |
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NATIONALITY |
Chilean |
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PROFESSION |
Agriculture Engineer |
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TAX ID |
3989535-8 |
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BACKGROUND INFORMATION |
Executive Director of AGRICOLA NA IONAL S.A.C.I He was appointed in the same position again on March 9, 2010.
He also acts as Chairman of the Administrative Board of ANASAC Ambiental SA, S.A. SERVIMAULE, ANASAC INTERNATIONAL CORPORATION, INVERSIONES GLOBALES, S.A., SOCIEDAD AGRICOLA LOS RULOS S.A., and member of the Administration Board and Consultant of INMOBILIARIA EL ALGARROBO SA, , and Board Member of Gleba SA, ANASAC COLOMBIA LTDA and HORTUS S.A., branches of the Company. |
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ASSOCIATED AS PER OUR DATABASE TO |
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MARTINEZ PEREZ,
JORGE FERNANDO |
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TITLE |
Shareholder |
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NATIONALITY |
Chilean |
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AGRICOLA
NACIONAL S.A.C. E I. |
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BUSINESS
BACKGROUND This is a Chilean company.Tax ID No. 912530000Address: Almirante Pastene 300, Providencia, SantiagoTelephone: (562) 24706800It was incorporated on 01/08/1948. |
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BUSINESS HISTORY |
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This company was incorporated by Alexander Grobman Tversqui, José Maria Gonzales Negui, Edigio Urrutia Nicolini, Renato Rossi Laquereyllo, and Carlos Arana Merino, all of them are Peruvian.In 1993, the founding shareholders transferred their participation to Ricardo Gallegher Malaga, Fernando Malaga Checa, Felipe del Rio Malaga, and Efrain Malaga Bravo.In 1995, the company passed to the hands of the current Chilean capitals.We were informed that currently the company's shareholders have been changed. (Their names were not disclosed.) |
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RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER |
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BUSINESS |
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SIC Classification |
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Main activity |
Subject is engaged in import and distribution of seeds and agrochemicals. |
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OPERATIONS |
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Import |
Yes |
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Country |
Argentina, Chile, China, Ecuador, Germany,
Japan, Mexico, New Zealand, Spain, USA, Brazil, India, Netherlands, Vietnam. |
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ANNUAL Imports In US$ (CIF) |
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Export |
No |
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% CASH SALES / METHOD |
50% |
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% Credit SALES / Terms |
50% (90 days-terms) |
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% DOMESTIC PURCHASES |
Yes |
% FOREIGN PURCHASES |
Yes |
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SELLING TerritorY |
100% Domestic market |
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EMPLOYEES |
183 |
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FINANCIAL INFORMATION |
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Disposition |
Moderate. Some data and figures were
confirmed. |
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Interviewee(s) |
Luz Nuñez Nuñez |
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Position(s) |
General Accountant |
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Information provided |
Mr. Luz Nuñez Nuñez provided general information regarding the company stating that no important changes have occurred. Moreover, she provided sales average registered during 2013, offering to provide figures within next days; however no reply has been received. Based on former investigations, we have figures from the Interim Balance Sheet as of the first quarter of 2013, as well as from the Annual Balance Sheet as of 12/31/2011 and 12/31/2010 (12 months each), expressed in Nuevos Soles, which we detail as reference.Some interesting data were obtained from third parties. |
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FINANCIAL SITUATION |
GOODBased on last submitted Financial Statement, Subject's Financial Situation is considered as GOOD due to:Liquidity ratio is above or similar to sector average. Working capital is positive and allows company to meet its obligations promptly. Shareholders' equity covers its current debts sufficiently. Economic results are positive.Risks Information centers do not report negative against Subject and recent commercial references are positive.Its credit record with entities of financial sector is rated as Normal according to report Banking and Insurance Superintendency. |
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Sales History in US$ (of Balance Sheet, statement of third
parties) |
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Property of company comments |
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REAL PROPERTY: Subject is referred to own the premises located on Sucre 270 Urb.Semi Rústica La Molina, Ate / Lima, 3.VEHICLES: A fleet of vehicles of the brands SUZUKI, MAZDA, TOYOTA, VOLKSWAGEN, FORD, etc. |
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INSURANCE |
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Main fixed assets of the company (general detail) |
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To this date, no losses have occurred. |
TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS(Confidential Information) |
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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To date, no protested documents, close account or lawsuits against Subject were found. No tax debt in coercive collection status and tax omissions in payments to the Government were found. |
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SUPERINTENDENCY OF BANK & INSURANCE (SBS) |
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Debt structure for bank. SBS Latest
Consolidated Credit Report as of : 28/02/2014 |
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CONSOLIDATED DEBT (ALL
BANKS) ENTITIES
NUMBER : 1 31/01/2013 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.04 |
|
UK Pound |
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.