MIRA INFORM REPORT

Report Date :

03.01.2015

IDENTIFICATION DETAILS

Name :	IMPORTADORA GLOBASTIC SA DE CV

Registered Office :	Av. Mario Pani 200, Santa Fe, México, Distrito Federal, 5109

Country :	Mexico

Date of Incorporation :	2009

Legal Form :	Sociedad Anónima de Capital Variable

Line of Business :	Importer of clothes

No. of Employee :	50

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)

Mexico

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

MEXICO ECONOMIC OVERVIEW

Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 20 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the United States' second-largest export market and third-largest source of imports. In 2013, two-way merchandise trade reached nearly $507 billion. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first year in office, passing education, energy, financial, fiscal and telecommunications reform legislation. The three-party "Pact for Mexico" reform agenda aims to improve competitiveness and economic growth across the Mexican economy.

Source : CIA

STATUTORY INFORMATION

Legal Name:	IMPORTADORA GLOBASTIC SA DE CV
Trade Name:	GLOBASTIC
ID:	LGL090327SE5
Date Created:	2009
Date Incorporated:	2009
Legal Address:	Av. Mario Pani 200, Santa Fe, México, Distrito Federal, 5109, México
Operative Address:	Av. Mario Pani 200, Santa Fe, México, Distrito Federal, 5109, México
Telephone:	55-5268-3141
Fax:	55-5268-3141
Legal Form:	Sociedad Anónima de Capital Variable
Email:	atencion@liverpool.com.mx (parent mail)
Registered in:	Mexico
Website:	The company does not have website (Parent website: www.liverpool.com.mx)
Manager:	Jose Calderon Munoz De Cote
Staff:	50
Activity:	Import of goods

BANKS

BANAMEX

The company does not make its banking data public.

HISTORY

The company started operations in 2009

PRINCIPAL ACTIVITY

GLOBASTIC operates as an importer of goods, mainly clothes and uses its parent's department store chain in Mexico, Liverpool.

Products/Services description:	Clothing Shoes Bags and Wallets Lingerie Juniors Petites Sizes Extras Maternity Jewelry Lenses Perfumes & Fragrances Accessories Watches
Brands:	Liverpool
Sales are:	Retail, thorugh its parent company stores
Clients:	General Clientele
Suppliers:	Creaciones Nicolas S.L. Spain IN SITU, S.A. Spain Yee Tung Garment Co., Ltd. China
Operations area:	National
The company imports from	Chinca, Spain
The company exports to	No exports
The subject employs	50
Payments:	Regular-The company has been lately reported for breach of payment

LOCATION

Headquarters :

Av. Mario Pani 200, Santa Fe, México, Distrito Federal, 5109, México

Branches:

The company does not have branches

Industry:

Companies in this industry operate physical retail establishments that sell items such as clothing, cosmetics, footwear, and home furnishings, typically from registers within individual departments.

Consumer spending and fashion trends drive demand. The profitability of individual companies depends on effective merchandising and marketing. Large companies have advantages in purchasing, distribution, and marketing. Small companies can compete effectively by offering unique merchandise, providing superior customer service, or delivering a distinctive store experience.

Major products sold include apparel (about 55 percent of sales) and cosmetics, footwear and appliances (8 percent, 7 percent, and 7 percent of sales, respectively). Apparel includes women's, men's, and children's clothing. Cosmetics include makeup, skin care, hair care, and fragrances. Appliances include refrigerators, stoves, washers, dryers, and dishwashers. Companies may also sell kitchenware, bedding, towels, and sheets. Services include gift wrapping, delivery, appliance installation, and personal shopping.

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a private company. The major holder is: Operadora Liverpool, S.A. de C.V (OPELISA) (99%) Mariano Escobedo No. 425 Chapultepec Morales Miguel Hidalgo, DF 11570 Mexico This is controlled by: El Puerto de Liverpool S.A.B. de C.V Liverpool (El Puerto de Liverpool S.A.B. de C.V.) is mid-to-high largest chain of department stores in Mexico, operating 17 shopping malls including Perisur and Galerías Monterrey. Its 85 department stores, which comprises 73 stores under the Liverpool name, 22 stores under the Fábricas de Francia name, 6 Duty Free stores, and 27 specialized boutiques.

Management

Jose Calderon Munoz De Cote

Related Companies

Pluvioso, S.A. De C.V.

Mario Pani, Lomas de Santa Fe, Cuajimalpa de Morelos,

05109 Ciudad de México, D.F., México

FINANCIAL INFORMATION

This is a private company which does not make its financial figures public. The following information has been confirmed by our private sources.

2013-USD
Revenue	1 800 000
Cash Flow	Normal

El Puerto de Liverpool, S.A.B. de C.V. (parent company)	2013-USD
Revenue	$5,667.584
Gross Profit	$2,292.188
Operating Income	$828.744
Net Income	$589.044
Diluted EPS	$0.44

LEGAL FILINGS

There are no legal filings registered for the subject

SUMMARY

GLOBASTIC operates as an importer of goods, mainly clothes and uses its parent's department store chain in Mexico, Liverpool.

The company has a small sized structure and is ultimately controlled by El Puerto de Liverpool S.A.B. de C.V., one of the largest store chains in the country.

It mainly imports from Spain and CHina and supplies its parent company.

There is a breach payment for the subject; therefore, we suggest working with a low credit line and monitoring the next 12 months.

RISK INFORMATION

DEBTS	Controlled
PAYMENTS	THIS COMPANY HAS BEEN REPORTED FOR BREACH OF PAYMENT
CASH FLOW	Normal
STATUS	ACTIVE

INTERVIEW

NAME	NA
POSITION	Operator
COMMENTS	We contacted a man who only confirmed address and refused to provide more data.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.28
UK Pound	1	Rs.98.38
Euro	1	Rs.76.30

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.