MIRA INFORM REPORT

Report Date :

02.10.2014

IDENTIFICATION DETAILS

Name :	DRESDEN LAB S.A.C.

Registered Office :	Los Ingenieros 130, Urb. Santa Raquel, 2da. Etapa Ate, Lima, 3

Country :	Peru

Date of Incorporation :	08.08.2003

Legal Form :	Closely-held Corporation

Line of Business :	Sale of pharmaceuticals, veterinary products, and industrial enzymes.

No. of Employees :	13

RATING & COMMENTS

MIRA’s Rating :

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Peru

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

DRESDEN LAB S.A.C.

TRADE NAME

DRESDEN LAB S.A.C.

TAXPAYER REGISTRATION

RUC 20507165461

MAIN ADDRESS

Los Ingenieros 130, Urb. Santa Raquel, 2da. Etapa Ate

POSTAL CODE

Lima, 3

DEPT/PROV/REGION/STATE

Lima / Lima

COUNTRY

PERU

TELEPHONE

(511) 3485874 - 3485870

CORPORATE E-MAIL

ventas@dresdenlab.com

WEB

www.dresdenlab.com

COMMENTS

FAX: (511) 3485870

EXECUTIVE SUMMARY
Date of foundation	2003
permanent employees	13
Chief Executive	PFLUCKER CAMINO, ANA MARIA CECILIA
Disposition	Declined. For security reasons and/or competition.
Financial Situation	FAIR
Payments policy	Usually to terms / good
Credit ()**	MODERATE RISK. (Acceptable financial situation but limited).

Number of times that this company was required: 2

REPUTATION

NOTHING AGAINST SUBJECT

LEGAL STRUCTURE

LEGAL STATUS	Closely-held Corporation
DATE OF INCORPORATION	08AUG2003	STARTING DATE	01/09/2003
PLACE OF REGISTRY	Lima
NOTARY OFFICE	Javier Aspauza Gamarra	DURATION	Indefinite
REGISTRATION	Certificate of Registration 1157412
INITIAL CAPITAL	S/.1,000.= Nuevos Soles
CURRENT EXCHANGE RATE (US$)	S/.2.85 per USADollar
COMMENTS
The company under investigation was established on 08/08/2003 as RV REPRESENTACIONES COMERCIALES S.A.C. On 04/03/2010 changes to the current name: DRESDEN LAB S.A.C

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
*PFLUCKER CAMINO, ANA MARIA CECILIA*	Manager	50%
PEREZ KLAUER, RAFAEL	Shareholder	50%
CORTES MORAL, ALBERTO	Representative
MIREZ SIFUENTES, JOSE DAVID	Representative

WHO IS WHO?


PFLUCKER CAMINO, ANA MARIA CECILIA
TITLE	Manager
NATIONALITY	Peruvian
D.O.B.	22NOV1964
ID	DNI 08234261
DOMICILE	Malecón de la Marina 360 Dpto.1102, Miraflores, Lima
TAX ID	10082342619


PEREZ KLAUER, RAFAEL
TITLE	Shareholder
NATIONALITY	Peruvian
D.O.B.	07JUL1974
ID	DNI 09997644
TAX ID	10093002143
BACKGROUND INFORMATION	According to SUNAT, he registered as fiscal address: Calle Rafael 271, Urb. San Borja, San Borja / Lima, 41


MIREZ SIFUENTES, JOSE DAVID
TITLE	Representative
NATIONALITY	Peruvian
D.O.B.	23JUN1981
ID	DNI 40925451
DOMICILE	ALAMEDA DE LOS VIRREYES NRO. 368 URB. LAS LOMAS DE LA MOLINA , Lima
TAX ID	10409254514

BUSINESS HISTORY


In the certificate of incorporation are listed as founders: Alfredo and Rafael Pérez Klauer (500 shares each one).

BUSINESS

SIC Classification
B - ALIMENTOS, BEBIDAS, AGROINDUSTRIA ALIMENTICIA, CERVEZA, (Alimentos, Agroindustria de frutas,vegetales, conservas, bebidas gaseosas, cervezas, )

Main activity

Sale of pharmaceuticals, veterinary products, and industrial enzymes.

O P E R A T I O N S

Import

Yes

Country

Finland, Germany, Korea, Taiwan

ANNUAL Imports In US$ (CIF)

YEAR	AMOUNT
2014	6,793,601.00
2013	5,805,542.00
2012	9,377,658.00
2011	4,700,049.00

SELLING TerritorY

Domestic market (100%)

EMPLOYEES

LOCATION

PREMISES

Undisclosed

OTHER PREMISES

The Fiscal Address and Headquarters of the company are located at the above noted address.

Previous Fiscal Addresses registered:

- Av. Los Ingenieros 124, Urb. Santa Raquel, 2da. Etapa, Ate / Lima (Suspended on 18/04/2013)

- Av. San Luis 2614, Int. 1, San Borja / Lima, 41 (Suspended on 19/05/2010)

- Av. Del Sur 368, Dpto. 204, Surco  / Lima, 33 (Suspended on 15/09/2003)

Comments

The company has been created with the purpose of engaging in:

A) Import, export, marketing and distribution of supplies for industry in general *

B) And it is understood included in the corporate purpose the acts related, that contribute to the achievement of its goals ....

According SUNAT, the number of employed people to October 2013 is 15.

FINANCIAL INFORMATION

Disposition

Declined. For security reasons and/or competition.

Interviewee(s)

Third party sources

Information provided

It is worth commenting that all data contained in this report was collected through indirect sources, as it was not possible to obtain any direct information . They refuse to help us.

We had no access to balance sheets, only a reference sales figure.

FINANCIAL SITUATION

FAIR

Even though no Financial Statements were available, we can indicate the company is reported good compliance with obligations. So far no negative observations were found against its name.

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

Date	Currency	Sales	E/R	Sales (US$)
31/12/2012	PEN	26,268,000.00	2.55	10,301,176.47

Main fixed assets of the company (general detail)

It was not possible to obtain information on insurance.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: CASOR ADUANEROS S.A.C.	Tel.: 511 6136262	Country: PERU
Goods/Services? : Customs service
Highest credit? : Undisclosed
Client since? : 2009	Terms? : 30-120 days	Performance? : Prompt
Comments : Working with invoices and drafts, excellent customer.

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

Supplier	Country
SHARFF LOGISTICA INTEGRADA S.A.	PERU
GARCIA PERSICO S.A.C.	PERU
ANHUI TRIUMPH IMPORT AND EXPORT CO	CHINA

THE FOLLOWING INFORMATION IS REPORTED BY RISK INFORMATION CENTER

No protested documents, closed checking accounts, canceled credit cards, pending tax debt or pending debt with the social security system found.

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/08/2014

Bank	Debt Rating () See caption*	Current Debt
Bank	Debt Rating () See caption*	DOMESTIC CURRENCY	FOREIGN CURRENCY
CONTINENTAL	NORMAL	284,024.00	373,198.00
BANBIF	NORMAL	282,053.00	806,851.00
INTERBANK	NORMAL	282,026.00	370,012.00
CREDITO	NORMAL		624,495.00
SCOTIABANK	NORMAL		460,665.00
COMERCIO	NORMAL		590,405.00
FINANCIERO	NORMAL		1,017,984.00
SANTANDER	NORMAL		490,425.00
Total		848,103.00	4,734,035.00
Guarantees		1,335,096.00	2,110,758.00

Comments :

No reported banking debt.

GENERAL INFORMATION


Explanation about commercial reputation

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.75
UK Pound	1	Rs.100.06
Euro	1	Rs.77.95

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	PDT

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.