MIRA INFORM REPORT

Report Date :

08.05.2014

IDENTIFICATION DETAILS

Name :	QUIMICA SUIZA INDUSTRIAL DEL PERU S.A.
Registered Office :	República de Panamá 2577, Urb. Santa Catalina, La Victoria, Lima, 13 Lima
Country :	Peru
Date of Incorporation :	17.11.2011
Com. Reg. No.:	12763347
Legal Form :	Joint Stock Company
Line of Business :	Subject Provides specialized raw materials and products, and machinery and equipment as well as laboratory services and technical support.
No of Employees :	333

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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	QUIMICA SUIZA INDUSTRIAL DEL PERU S.A.
TAXPAYER REGISTRATION	RUC 20546357377
MAIN ADDRESS	República de Panamá 2577, Urb. Santa Catalina, La Victoria,
POSTAL CODE	Lima, 13
DEPT/PROV/REGION/STATE	Lima / Lima
COUNTRY	PERU
TELEPHONE	(511) 2114000 - 2414444 - 2114019
WEB	www.qsindustrial.biz
NOTE
The address on your order is an uncomplete and incorrect spelling address, the correct and complete address is as above-mentioned.

EXECUTIVE SUMMARY
Date of foundation	2011
Capital stock	S/.1,000.= Nuevos Soles
permanent employees	333
Chief Executive	WEBER STARK, FRANK ROBERT
Disposition	Declined. No reason was given. Very reserved.
Payments policy	Usually to terms / good
Credit (**)	MODERATE RISK. (Acceptable financial situation but limited).
Number of times that this company was required: 7

LEGAL STRUCTURE
LEGAL STATUS	Joint-Stock Company
DATE OF INCORPORATION	17NOV2011	STARTING DATE	02/01/2012
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Carola Cecilia Hidalgo Moran	DURATION	Indefinite
REGISTRATION	Certification 12763347
INITIAL CAPITAL	S/.1,000.= Nuevos Soles
CURRENT PAID-IN CAPITAL	S/.1,000.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.75 Nuevos Soles per USD1.00
COMMENTS
Química Suiza Industrial (QSI) is a company that develops integrated solutions, offering specialized raw materials and products, and machinery and high quality equipment with laboratory services, Helpdesk and Certifications. QSI serves the Industrial, Construction, Mining and Agro-Veterinary services. Its work focuses on allowing projects of their clients to achieve their goals, adding value through human capital and representing world class brands. Today QSI has a broad business vision based on their business relationships, providing reliable and quality solutions that allow you to become the strategic partner of its customers through a relationship of trust and integrity.

DIRECTORS - EXECUTIVES - SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
MULDER PANAS, LOUIS LEONARDUS	President
MULDER PANAS, CATHERINE	Director
MULDER PANAS, JAN WILLEM	Director
WEBER STARK, FRANK ROBERT	General Manager		18/11/11
PIEPER HANS, ULRICH	Commercial manager		08/02/12
MONTALVAN MOSQUERA, GEORGETTE ELENA	Finance Manager		08/02/12
FUKUNAGA FUENTES, FERNANDO	Legal Advice Manager		08/03/12
LUCAR ESPINOZA, EDUARDO JAVIER	Proxy		08/02/12
GÜIMAC PALOMINO, WILMER ARTURO	Proxy		08/02/12
DE LA RIVA FORT, LUIS MIGUEL	Proxy
SEMINARIO FOSCA, PABLO	Proxy		03/02/12
REBAZA DELGADO,ALFREDO	Proxy		03/02/12
CASANOVA HIDALGO, MARIA ESTHER	Proxy		08/02/12
QUICORP S.A.	Shareholder / Member	99.9%
DORMESON S A	Shareholder / Member	0.1%

WHO IS WHO?

MULDER PANAS, LOUIS LEONARDUS

TITLE

President

NATIONALITY

Peruvian

D.O.B.

12APR1950

ID

DNI 08245797

DOMICILE

Las Flores 612, San isidro, Lima 27

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
QUIFATEX S.A.	President	1790371506001	ECUADOR
QUICORP S.A.	General Manager	20537521792	PERU
PRODUCTOS ROCHE Q.F. S.A.	Vice President	20100177341	PERU
CIFARMA S.A.	Director	20109346722	PERU
QUIMICA SUIZA S.A.	Director	20100085225	PERU
PRODUCTOS SANCELA DEL PERU S.A.	Director	20255172884	PERU
DORMESON S A	General Manager	20143305857	PERU
QUIMICA SUIZA INDUSTRIAL DEL CARIBE S.A.	Director	J001578544	VENEZUELA

MULDER PANAS, CATHERINE

TITLE

Director

NATIONALITY

Peruvian

D.O.B.

02DEC1953

ID

DNI 06529656

DOMICILE

Choquehuanca 1545, San Isidro, Lima 27

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
QUIMICA SUIZA INDUSTRIAL DEL CARIBE S.A.	Director	J001578544	VENEZUELA
DORMESON S A	Director	20143305857	PERU
QUIFATEX S.A.	Vice President	1790371506001	ECUADOR
QUIMICA SUIZA S.A.	Director	20100085225	PERU
QUICORP S.A.	Representative	20537521792	PERU
CIFARMA S.A.	Shareholder	20109346722	PERU

MULDER PANAS, JAN WILLEM

TITLE

Director

NATIONALITY

Peruvian

D.O.B.

26FEB1949

ID

DNI 08234620

CIVIL STATUS

Married to Silvia Fort

TAX ID

10082346207

BACKGROUND INFORMATION

His Tax ID (RUC) 10082346207 was issued to be engaged as an Individual with no company in activities related to business consultancy, with registered office at Av. Los Andes 170, San Isidro/Lima,27.
 
Mr. Mulder has a degree in journalism, having studied at The Boston University, Boston, Massachusetts, USA.
 
He is currently Director in Quimica Suiza SA. He is Chairman of Productos Sancela del Perú and of Cifarma S.A., Lima, Perú, Director in Fadesa too. He has been Director of Distribuidora DINO - Cementos Pacasmayo Peruplast SA, Laboratorios Alfa SA, Founder and General Manager of Quifatex SA in Quito Ecuador. He is the Founder and Chairman of Centro de la Fotografía S.A. in Lima Peru.
He has held and holds positions of President, Vice President and Director in various institutions, such as COMEXPERU, CEAL (Latin America Business Council), Peruvian Institute of Economy, CONFIEP, National Competitiveness Council of the Presidency of Council of Ministers, Chamber of Commerce of Lima, among others. He is an alternate member of ABAC.

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
BANCO FINANCIERO DEL PERU	Director	20100105862	PERU
CIBELES ASOCIACION PARA EL FOMENTO DE ACTIVIDADES SOCIALES EDUCATIVAS Y CULTURALES	Legal Representative	20147824433	PERU
LABORATORIOS ALFA S.A.	Assist. Managing Director	20100086205	PERU
INTERCONTINENTAL DE REPRESENTACIONES S.A.	Director	20110363177	PERU
CIFARMA S.A.	President	20109346722	PERU
QUIMICA SUIZA S.A.	CEO	20100085225	PERU
QUIMICA SUIZA INDUSTRIAL DEL CARIBE S.A.		J001578544	VENEZUELA
QUIFATEX S.A.	Shareholder	1790371506001	ECUADOR
QUICORP S.A.		20537521792	PERU

PARTICIPATED IN

COMPANY	TITLE	COUNTRY	YEAR / REF
CONSEJO NACIONAL DE COMPETITIVIDAD	Director	PERU	2008

WEBER STARK, FRANK ROBERT

TITLE

General Manager

NATIONALITY

Austrian

D.O.B.

29OCT1954

ID

C.Ext. 000125973

BACKGROUND INFORMATION

General Manager at Química Suiza Industrial del Perú S.A. and corporate manager.

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
INTERCONTINENTAL DE REPRESENTACIONES S.A.		20110363177	PERU
QUIMICA SUIZA INDUSTRIAL DEL CARIBE S.A.		J001578544	VENEZUELA

PIEPER HANS, ULRICH

TITLE

Commercial manager

NATIONALITY

German

ID

C.Ext. 000771077

BACKGROUND INFORMATION

Commercial manager of Industrial Business Unit.

MONTALVAN MOSQUERA, GEORGETTE ELENA

TITLE

Finance Manager

NATIONALITY

Peruvian

D.O.B.

12JUN1972

ID

DNI 09339205

PROFESSION

Economist

BACKGROUND INFORMATION

She studied Economics at Universidad del Pacifico and a Masters in Finance at the Wharton School University from USA.

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
QUICORP S.A.		20537521792	PERU
QUIMICA SUIZA S.A.		20100085225	PERU

FUKUNAGA FUENTES, FERNANDO

TITLE

Legal Advice Manager

NATIONALITY

Peruvian

D.O.B.

09SEP1963

ID

DNI 07730144

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
QUICORP S.A.		20537521792	PERU

GÜIMAC PALOMINO, WILMER ARTURO

TITLE

Proxy

NATIONALITY

Peruvian

D.O.B.

10NOV1964

ID

DNI 06997400

ASSOCIATED AS PER OUR DATABASE TO

COMPANY	TITLE	TAX REG	COUNTRY
CIFARMA S.A.		20109346722	PERU
QUIMICA SUIZA S.A.	Legal Representative	20100085225	PERU

DE LA RIVA FORT, LUIS MIGUEL

TITLE

Proxy

NATIONALITY

Peruvian

D.O.B.

11DEC1972

ID

DNI 09341836

DOMICILE

Pardo 1350, Int. 801, Miraflores, Lima

PROFESSION

Lawyer

TAX ID

10093418366

SEMINARIO FOSCA, PABLO

TITLE

Proxy

NATIONALITY

Peruvian

D.O.B.

24SEP1948

ID

DNI 07808100

BACKGROUND INFORMATION

Commercial manager of Agro veterinary Unit.

REBAZA DELGADO,ALFREDO

TITLE

Proxy

NATIONALITY

Peruvian

D.O.B.

18JAN1962

ID

DNI 09375241

CASANOVA HIDALGO, MARIA ESTHER

TITLE

Proxy

NATIONALITY

Peruvian

ID

DNI 10556779

BUSINESS HISTORY

Química Suiza Industrial del Perú S.A. (QSI) is part of QUICORP Holding, whose main shareholder is the company QUICORP SA represented by its General Manager Mr. Rizal Andres Bragagnini Oliver. 
 
Until 2011, the commercial area of Quimica Suiza SA (founded on March 6, 1939 which it is considered one of the leading distributors of Peru), was composed of the Business Units: FARMA; CONSUMPTION; INDUSTRIAL AND AGROVETERINARY. 
 
At December 31, 2011 sales were S/.1, 290.469. = Nuevos Soles. 
On that date the board agrees to do a split at the corporate level to form in a regional level the Química Suiza Industrial (QSI).
 
Química Suiza Industrial (QSI) born to manage a regional level in Peru , Bolivia , Ecuador , Colombia , Venezuela and Dominican Republic, Industrial Business Units and Agroveterinary before held by Quimica Suiza SA , who will continue to manage the business units Farma and Consumption .
 
This decision responds to sustained growth that have been experiencing the different business units in the organization and the need to adapt its structure to the new challenges and opportunities presented in the countries of the region where they are present .
 
Therefore , as of January 2, 2012 in Peru the Business Units INDUSTRIAL and AGROVETERINARY of QUIMICA SUIZA S.A. constitute the new company QUIMICA SUIZA INDUSTRIAL DEL PERU S.A.
 
The administrative transfer of data and testing occurred during the first four months of the same year and officially QUIMICA SUIZA INDUSTRIAL DEL PERU S.A started its commercial sales and billing operations on May 02, 2012.

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME	COUNTRY	TAX REG.	RELATION %
QUIDECA S.A.	COLOMBIA	900078437	Related
QUIFATEX S.A.	ECUADOR	(AC) 1790371506001	Related
QUIMICA SUIZA INDUSTRIAL DE BOLIVIA S.A.	BOLIVIA	(AC) 192898024	Related
QUIMICA SUIZA INDUSTRIAL DE COLOMBIA S.A.	COLOMBIA		Related
QUIMICA SUIZA INDUSTRIAL DEL ECUADOR QSI S.A.	ECUADOR	(AC) 1792373255001	Related
QUIMICA SUIZA S.A.	PERU	(AC) 20100085225	Related
QUIMIZA LTDA.	BOLIVIA	(AC) 1020345023	Related

BUSINESS

SIC Classification

T - PROD. QUIMICOS- PLASTICOS- VETERINARIOS-AGROQUIMICOS (Industria quimica en general, Produccion y comercializacion de plasticos y derivados, Veterinarios y agroquímicos, Reactivos)

Main activity

Provides specialized raw materials and products, and machinery and equipment as well as laboratory services and technical support. It provides services to the Industrial, Construction, Mining and Agro-Veterinary sectors, through the following divisions: 
 
The INDUSTRIAL BUSINESS UNIT 
It consists of the following sales departments: 
- Textile Department (Textile Dyes, Leather Dyes, Textile Machinery; Fibers 
- Precision Equipment. 
- Chemicals (Food Chemicals, Pharmaceutical Chemicals, Chemical Hygiene) 
- Construction (Construction Equipment, Construction Machinery, Geomatics; Hilti line)
 
The departments Textile, Chemical and Construction have their respective test laboratories. 
 
Departments of Precision Equipment, equipment, machinery, hilti line and geomatics have their respective service areas.
 
The AGROVETERINARY BUSINESS UNIT 
It consists of the following sales departments 
- Agro 
- Veterinary Poultry 
- Livestock Veterinary
 
Sold brands: HUNTSMAN; MILAGRO, CHEMIA; AGRIPAR; AGRANCO; NOVUS; BONIMEX; NIPPON, NOVARTIS, METTLER TOLEDO; HILTI.

O P E R A T I O N S

Import

Yes

Country

Australia, Austria, Belgium, Brazil, Bulgaria, Canada, China, Colombia, Czech Republic, Denmark, Ecuador, France, Germany, Hungary, India, Indonesia

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2014	6,297,605.00
2013	35,796,243.00
2012	23,167,578.00

Export

Yes

COUNTRY

Ecuador and Italy.

Annual exports in US$ (FOB)

YEAR	AMOUNT
2014	86,185.00
2013	770,497.00
2012	358,225.00

% CASH SALES / METHOD

20%

% Credit SALES / Terms

80%

% DOMESTIC PURCHASES

5% % FOREIGN PURCHASES 95%

SELLING TerritorY

Domestic market and occasionally foreign

EMPLOYEES

333

LOCATION
PREMISES	Own Settled
OTHER PREMISES	The legal address of the company operate at the heading address. It shares its premises with its related company QUIMICA SUIZA S.A. Branches: - Av. República de Panamá 4099, Surquillo, Lima. - Av. José Galvez 1401 La Perla, Callao. - Av. Miguel Grau 630 Chiclayo, Lambayeque. - Av. Alfonso Ugarte 521 Arequipa. Distribution centers: - Lurín Warehouses: - Av. República de Argentina 5921 Urb. Ajax, Carmen de La Legua, Callao (It is projected that in the short term will be converted into manufacturing plant of dyes textiles, and additives for construction). - Av. Carretera Central 1115 Santa Anita, Lima.

Comments

They also perform imports from Japan, Korea, Malaysia, Malta, Mexico, Holland, Poland, Portugal, Romania, Singapore, Slovakia, Spain, Sweden, Taiwan, Thailand, Tunisa, UK, USA. 
 
Its credit sales have average terms: 
At Industrial from 30-90 days 
In agro 30 days to 120 days according to culture 
In veterinary to 30 days.
 
Main clients: TEXFINA S.A., FABRICA DE TEJIDOS SAN JACINTO S.A., GRAÑA Y MONTERO S.A., TEXTIMAX S.A., COSAPI S.A., AUTOSERVICIO SAN ISIDRO S.A.
 
In the field of Construction, the growth of Química Suiza Industrial (QSI) in 2014, will depend on the private sector feel confident to invest in major projects that will generally be a concession, which will give a big boost the industry and the economy.
 
Currently the building department QSI - Concrete and Asphalt Additives is providing services across Peru to over 500 projects, increasing their participation in the following Concreteras: Firth, Unicon, Mixercon, Premix, Etc and also nationally important buildings within Lima as VÍA PARQUE RÍMAC -LÍNEA AMARILLA - OAS, RUTAS DE LIMA - ODEBRECHT, among others.
 
The building department of QSI has many business opportunities. 
 
The company has the OEKO-TEX Certificate, also known as the "Confidence in Textiles" label ensuring their textile products do not contain toxic substances, being this a very sensitive issue today for consumers in foreign countries and thus an essential requirement for exporters and local manufacturers.

FINANCIAL INFORMATION

Disposition

Declined. No reason was given. Very reserved.

Interviewee(s)

Terceras Fuentes

Information provided

Despite having made a thorough monitoring has not been possible to arrange a meeting with the officials responsible for the company, therefore, this report has been prepared based on reliable third-party sources, our own and files, means through which it was not possible to achieve financial balance sheets or reference numbers. 
 
For history is known that the average monthly sales 2012 of Química Suiza Industrial S.A. is S/.18,500,000.= Nuevos Soles, of which 81% correspond to the Industrial Business Unit and 19% Agroveterinary.
 
Backed by 73 years of experience in the market, Química Suiza Industrial (QSI) is an international company which is part of QUICORP Holding, which has a prominent role throughout Latin America with operations in Bolivia, Peru, Ecuador, Colombia, Venezuela and Republic Dominican. 
 
Within its short-term plans, Quimica Suiza Industrial is ready to start producing industrial inputs in Peru. 
 
Although currently products as citrus fiber and natural flavors are imported from the United States and Switzerland, the interest is to have a productive unit of premixes (sweet and fibers) and be able to meet the demand of companies of food and beverages in the country.
 
The draft of the new production unit is defined as the portfolio of manufacturing and should be launched in the first quarter of 2014 and will be attached to the distribution center in Lurin. lime
 
Their initial goal is to meet domestic demand to later implement a plan to export supplies to countries in the region. 
 
It is known that its sales in 2013 grew 2% in relation to 2012 and for this year are expected to grow 11% 
 
Within this strategy is letting go some commodities which allow them a better reorientation of working capital.

SALES

US$ 0.00 ()

FINANCIAL SITUATION

FAIR
Despite not having available financial statements, they report that the company has financial support of its owners. 
 
The information centers reported no history of protested letters, notes, or accounts closed by turning bad checks, except debt S/.41, 916.73 Nuevos Soles in administrative collection to AFP Integra SA corresponding to 40 documents (20 periods) overdue by 2011-02 to 2013-08. 
 
Meanwhile, credit experience with the financial sector is classified as Normal, as reported by the Superintendency of Banking and Insurance to February 2014 with obligations by global amounts of S/.35, 776.299. = Nuevos Soles and U.S. $ 838.426. = Dollars and guarantees given by S/.9, 000,000. = Nuevos Soles and U.S. $ 68,397,623. = Dollars.

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

Date	Sales (US$)
31/12/2012	7,226,562.50

INSURANCE

COMPANY	AGAINST	AMOUNT	EXPIRATION
PACIFICO SEGUROS	Various risks	Not specified	Yearly

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: ENKA DE COLOMBIA	Tel.: 574 4055055	Country: COLOMBIA
Goods/Services? : Inputs for the preparation
Highest credit? : US$ 40,000
Client since? : Beginnin	Terms? : 120 days	Performance? : Prompt
Supplier: ADUANDINA AGENCIA DE ADUANA SA	Tel.: 511 5782693	Country: PERU
Goods/Services? : Customs service
Highest credit? : US$ 2,500
Client since? : Beginnin	Terms? : 15 days	Performance? : Prompt
Supplier: ADUANERA CAPRICORNIO SA	Tel.: 511 4202022	Country: PERU
Goods/Services? : Customs service
Highest credit? : DC Not specified
Client since? : Beginnin	Terms? : 30 days	Performance? : Prompt

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

Supplier	Country
LEICA	SPAIN
HILTI	U.S.A.
METTLER TOLEDO INC	U.S.A.
FIRMENICH	U.S.A.
HUNSTMAN INC	U.S.A.
EUCLID CHEMICAL COMPANY	U.S.A.

CREDIT BUREAU COMMENTS

At the reporting date, no have been found of protested documents, closed accounts or lawsuits against it. Neither figure published with debts enforced collection or omissions in the payment of their contributions to the state, except a debt of S/.41,916.73 Nuevos Soles in administrative collection to AFP Integra SA corresponding to 40 documents (20 periods) overdue on 2011-02 to 2013-08.

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 28/02/2014

Bank	Debt Rating (*) See caption	Current Debt
		DOMESTIC CURRENCY	FOREIGN CURRENCY
CITIBANK DEL PERU	NORMAL	14,013,696.00
CONTINENTAL	NORMAL	9,078,754.00	492.00
CREDITO	NORMAL	5,204,824.00	123,985.00
SANTANDER PERU	NORMAL	5,058,088.00	713,950.00
SCOTIABANK	NORMAL	2,420,938.00
Total		35,776,300.00	838,427.00
Guarantees		9,000,000.00	68,397,623.00

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 4                           30/09/2013

		Domestic Currency	Foreign Currency
LOANS	:	16,400,000.00
FINANCIAL LEASING	:	193,526.00
ADVANCE ON CURRENT ACCOUNT	:	5,355.00
FACTORING	:	200,300.00
CREDIT CARDS	:	2,077.00
OTHER INDIRECT CONTINGENT DEBTS	:	1,838,430.00
	:	126,871.00
		--------------------------------------------	--------------------------------------
TOTAL DEBT	:	18,766,559.00
		=========================	======================

Comments :

The SBS gives it 100% NORMAL rating from 31/12/2012.

GENERAL INFORMATION

Explanation about commercial reputation

PRESS RELEASES

PRESS RELEASE
Peru would grow 5.7% this 2014, projected by Banco Santander
 
Peru's economy would grow 5.7% this 2014, which set a modest recovery from 2013 and a lower level compared to the average of recent years, projected the Santander Bank. 
 
"Peru has been slowing in 2013 from a period of high growth (...) but we anticipate a modest recovery this year. That would continue to remain below average (for economic growth) from 2010-2012, 7.3%", predicted. 
 
Regarding the exchange rate, the bank said "the Peruvian sol suffered disproportionate losses despite healthy growth (economic) and high carry (positive interest rate differential)." 
 
According to its analysis, this was probably due in part to the "anxiety market" before the reduction of the U.S. Fed stimulus.
 

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 60.03
UK Pound	1	Rs. 101.96
Euro	1	Rs. 83.58

INFORMATION DETAILS

Analysis Done by :	RSM
Report Prepared by :	DPT

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.