MIRA INFORM REPORT

Report No. :	326413
Report Date :	09.06.2015

IDENTIFICATION DETAILS

Name :	LIPESA DEL PERU S.A.C.
Registered Office :	Pj. Martir Olaya # 169 Int. 702, Miraflores, Lima
Country :	Peru
Date of Incorporation :	20.09.2006
Legal Form :	Sociedad Anónima Cerrada
Line of Business :	Manufacture of Chemical Industry.
No. of Employees :	27

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 :	Small Company
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Peru	A2	A2

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 grew by an average of 5.6% from 2009-13 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%. 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. Growth slipped in 2014, due to weaker world prices for these resources. 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. The HUMALA administration passed several economic stimulus packages in 2014 to bolster growth. In order to spur investment in Peru’s lucrative mining sector, it reduced some environmental regulations, in a move that was opposed by environmental groups. 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.

Source : CIA

STATUTORY INFORMATION
Legal Name:	LIPESA DEL PERU S.A.C.
Trade Name:	Liperu
RUC:	20513920271
Date Created:	2006
Date Incorporated:	20/09/2006
Legal Address:	Pj. Martir Olaya # 169 Int. 702, Miraflores, Lima, Perú
Operative Address:	Pj. Martir Olaya # 169 Int. 702, Miraflores, Lima, Perú
Telephone:	51-1-4466003
Fax:	51-1-2422558
Legal Form:	Sociedad Anónima Cerrada
Email:	peru@lipesa.com
Registered in:	Peru
Website:	www.lipesa.com/peru/
Contact:	OLAGUIBEL GOÑI DE CHUNG GUADALUPE EMPERATRIZ, General Manager
Staff:	27
Activity:	Chemical Manufacture Industry
BANK DATA
Banco Central de Peru
The company does not disclose its banking information
HISTORY
The company was established in Peru in 2006.
PRINCIPAL ACTIVITY
Lipesa Peru is a company that designs, develops, manufactures, develops and markets specialty chemicals associated with technical assistance.
Products/Services description:	Chemical Products for Industrial use
Brands:	Pulsafeder
Clients:	LIPEQ SA Ecuador
Suppliers:	LIPESA COLOMBIA SA Colombia
Operations area:	National and International
The company imports from	Colombia
The company exports to	Ecuador
The subject employs	27 employees
Payments:	Regular
LOCATION
Headquarters :	Pj. Martir Olaya # 169 Int. 702, Miraflores, Lima, Perú
Branches:	Storage: CAR. CENTRAL KM. 11.2 Z.I. SANTA CLARA (EX GRIFO) LIMA LIMA ATE, Peru
Industry:	Companies in this industry manufacture gases, dyes and pigments, chlorine and caustic soda, sulfuric and nitric acids, and organic chemicals. Demand depends on the overall strength of the economy, because most industrial chemicals are used in the manufacture of more-complicated products like fibers, plastics, paints, and paper. The profitability of individual companies is closely linked to efficient operations, because most products are commodities. Big producers have large economies of scale in production, which is why some chemicals are made by just a handful of companies. Small companies can compete effectively by making specialized or highly-purified products. Industrial chemicals include gases like oxygen and nitrogen, dyes and pigments, chlorine and caustic soda, sulfuric and nitric acids, and thousands of organic chemicals. Unlike advanced chemicals that are manufactured through complicated chemical reactions, most industrial chemicals are made by extraction and purification from natural substances, including minerals, natural gas, petroleum, plants, air, and water. Oxygen and nitrogen gas are made by freezing air, phosphates from marine deposits, ethanol by fermenting corn, chlorine from salt water, and a large number of chemicals are made by boiling petroleum.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a private company. It is a subsidiary of: Limpiadores Industriales Lipesa, S. A. Bello Monte Norte, Calle Orinoco c/c Baruta, Edf. LIPESA, PH, Caracas, Venezuela
Management:	OLAGUIBEL GOÑI DE CHUNG GUADALUPE EMPERATRIZ, General Manager FRANCESQUI NAVARRO MANUEL EDUARDO, Attorney
Related Companies:	It has sister companies in Brazil, Colombia and Ecuador.
FINANCIAL INFORMATION
The company does not make its financial statements public.
There are no financial connected to the subject
LEGAL FILINGS
There are no legal connected to the subject
SUMMARY
Lipesa Peru is a company that designs, develops, manufactures, develops and markets specialty chemicals associated with technical assistance. The company has a small sized structure with 27 employees and 9 years of experience in the country. It is a subsidiary of Lipesa Venezuela, a large company with offices in Brazil, Ecuador and Colombia. There are no negative records conncted to the subject.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Normal
INTERVIEW
NAME	NA
POSITION	Administrative
COMMENTS	The person contacted only confirmed address, staff and parent company. She refused to provide more data on the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.11
UK Pound	1	Rs.97.84
Euro	1	Rs.71.12

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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%)

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