MIRA INFORM REPORT

 

 

Report No. :

350296

Report Date :

24.11.2015

 

IDENTIFICATION DETAILS

 

Name :

CASERIO JAYAVE S.R.L.

 

 

Registered Office :

Jr. Tupac Amaru Mza. L Lote. 3 (a 1cdra de Essalud - Misma Heladeria) Tambopata Madre de Dios, Perú

 

 

Country :

Peru

 

 

Date of Incorporation :

2012

 

 

Legal Form :

Sociedad Comercial De Responsabilidad Limitada

 

 

Line of Business :

The company is dedicated to the commerce of jewelry products

 

 

No. of Employees :

12

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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, including reforms to environmental regulations in order to spur investment in Peru’s lucrative mining sector, a move that was opposed by some 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, El Salvador, India, Indonesia, Turkey and the Trans-Pacific Partnership. Peru also has signed a trade pact with Chile, Colombia, and Mexico, called the Pacific Alliance, that seeks integration of services, capital, investment and movement of people. 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:

CASERIO JAYAVE S.R.L.

Trade Name:

CASERIO JAYAVE

RUC:

20491040816

Date Created:

2012

Date Incorporated:

16-may-15

Legal Address:

JR. TUPAC AMARU MZA. L LOTE. 3 (A 1CDRA DE ESSALUD - MISMA HELADERIA)MADRE DE DIOS - TAMBOPATA - TAMBOPATA,        PERU

Operative Address:

Jr. Tupac Amaru Mza. L Lote. 3 (a 1cdra de Essalud - Misma Heladeria) Tambopata Madre de Dios, Perú

Telephone:

NA

Fax:

NA

Legal Form:

Sociedad Comercial De Responsabilidad Limitada

Email:

NA

Registered in:

Peru

Website:

No website

Contact:

Lira Mejia Jose, General Manager

Staff:

12

Activity:

Jewelry Industry

 

 

BANKS

Banco Nacional de Perú

 

 

 

The company does not make its banking data public

History:

 

 

The company was founded in 2012. However its incorporation date at the Peruvian Registry is May 2015.

 

 

PRINCIPAL ACTIVITY

 

The company is dedicated to the commerce of jewelry products

Products/Services description:

Gold

Brands:

NA

Sales are:

Wholesale

Clients:

NA

Suppliers:

NA

Operations area:

National

The company imports from

India

The company exports to

No exports

The subject employs

12 employees

Payments:

Unknown

 

 

LOCATION

 

Headquarters :

Jr. Tupac Amaru Mza. L Lote. 3 (a 1cdra de Essalud - Misma Heladeria) Tambopata Madre de Dios, Perú

Branches:

The company does not have branches

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders:

This is a private company. Major holder would be Lira Mejia Jose

Management:

Lira Mejia Jose, General Manager

 

 

FINANCIAL INFORMATION

 

 

 

This is a private company which does not make its financials public.

 

 

 

There are no financial figures connected to the subject

 

 

LEGAL FILINGS

 

 

There are no legal for the subject

 

 

SUMMARY

 

 

CASERIO JAYAVE S.R.L. is a Peruvian company involved in the jewelry industry.

The company has a small sized, 12 employees and was only incorporated in Peru in May 2015.

According to the Peruvian National Registry of Companies its status is: PENDING.

Taking into account company's low profile, its short term experience from incorporation and its status, we suggest working with guarantees and monitoring the subject for the following 12 months.

 

 

RISK INFORMATION

 

 

 

DEBTS

Controlled

PAYMENTS

Unknown

CASH FLOW

Normal

STATUS

Pending of authorization-Source: Peruvian Registry

 

 

INTERVIEW

 

NAME

NA

POSITION

NA

COMMENTS

NA

 

 

 

DIAMOND INDUSTRY – INDIA

 

-          From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-          The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-          The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-          Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-          Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-          Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

 

-          Excerpts from Times of India dated 30th October 2010 is as under –

 

-          Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

 

-          The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.35

UK Pound

1

Rs.100.66

Euro

1

Rs.70.47

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

TPT

 

               

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.