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|
|
MIRA INFORM REPORT
|
Report No. : |
501342 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
INKABOR SAC |
|
|
|
|
Registered Office : |
Av. Italia Numero. 101 Zona Industrial Parque Industrial Rio Seco
Arequipa, Arequipa, Cerro Colorado |
|
|
|
|
Country : |
Peru |
|
|
|
|
Date of Incorporation : |
01.10.1996 |
|
|
|
|
Legal Form : |
Closed Stock Company |
|
|
|
|
Line of Business : |
The company is engaged in the exploitation of a boron deposit to produce
and trade boric acid and derivatives |
|
|
|
|
No. of Employees : |
155 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Peru |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
PERU - ECONOMIC OVERVIEW
Peru's economy reflects its varied topography - an arid lowland coastal region, the central high sierra of the Andes, and the dense forest of the Amazon. 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 copper.
The Peruvian economy grew by an average of 5.6% per year from 2009-13 with a stable exchange rate and low inflation. This growth was due partly to high international prices for Peru's metals and minerals exports, which account for 55% of the country's total exports. Growth slipped from 2014 to 2017, 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 over 35 percentage points since 2004, but inequality persists and continued to pose a challenge for the Ollanta HUMALA administration, which 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. However, in 2015, mining investment fell as global commodity prices remained low and social conflicts plagued the sector.
Peru's free trade policy 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, Honduras, concluded negotiations with Guatemala and the Trans-Pacific Partnership, and begun trade talks with El Salvador, India, and Turkey. 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 US has doubled. President Pedro Pablo KUCZYNSKI succeeded HUMALA in July 2016 and is focusing on economic reforms and free market policies aimed at boosting investment in Peru. Mining output increased significantly in 2016-17, which helped Peru attain one of the highest GDP growth rates in Latin America, and Peru should maintain strong growth in 2018. However, economic performance was depressed by delays in infrastructure mega-projects and the start of a corruption scandal associated with a Brazilian firm. Massive flooding in early 2017 also was a drag on growth, offset somewhat by additional public spending aimed at recovery efforts.
|
Source
: CIA |
Company
summery
|
COMPANY NAME |
INKABOR SAC |
|
TAX ID. TYPE |
RUC |
|
TAX ID. NUMBER |
20327397258 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Av. Italia Numero. 101 Zona Industrial Parque Industrial Rio Seco
Arequipa |
|
CITY/PROVINCE/STATE |
Arequipa, Cerro Colorado |
|
EMAIL |
|
|
WEBSITE |
|
|
REMARKS OF
IDENTIFICATION |
This report was requested with address: Av. Italia N.101 Zn. Ind. Rio Seco Arequpa
Peru. Please notice that the correct data is shown
above. |
|
CREDIT
OPINION |
|
Well-known Industrial Company deemed to be operating normally in a
competitive market. It has a good relationship with its suppliers and banks. |
|
PAYMENT |
No Complaints |
LEGAL
INFORMATION
|
TYPE OF COMPANY |
Closed Stock Company |
|
INCORPORATION
DATE |
01/10/1996 |
|
CITY OF
REGISTRATION |
Arequipa |
|
REGISTRY NUMBER |
Certificate 11010983 of the Registry of Legal Entities of
Lima |
|
TERM |
Indefinite |
|
CURRENT CAPITAL |
S/.43,047,000.00 Soles |
|
DATE OF INCREASE |
December 2013 |
|
NET WORTH |
S/.38,758,000.00 Dollars (31/12/2014) |
|
LISTED AT STOCK
EXCHANGE |
No |
BACKGROUND.-
Initially it was established
as INKABOR SA, then on 11/02/1997 it changed its name to: COMPANIA MINERA
UBINAS SA, then on 06/01/1999 it changed its name to: COMPANIA MINERA UBINAS
SAC, and finally it changed its name to the current one on 01/09/2004.
The company was established
in 1985, as a result of the merger of seven independent boron producers
acquired by the COLOROBBIA GROUP of Italy.
LEGAL ASPECTS.-
Company affiliated to the Chamber of Industry and
Trade of Arequipa.
COMMENTS ON RELATED COMPANIES.-
The subject is part
of the group COLOROBBIA, made up of companies operating worldwide, and
specialized in the production and distribution of raw materials and
semi-finished products for the ceramic and glass industry. The solutions
proposed by the companies of the Group can cover the entire productive process
of each sector of industrial ceramics. Among the companies integrating the
group we can mention:
RELATED COMPANIES
|
COMPANY NAME |
TAX ID. NUMBER |
COUNTRY |
|
BITOSSI DIFFUSIONE SPA |
|
ITALY |
|
CERAMIC SERVICE SRO |
|
CZECH REP. |
|
CO. LTD |
|
CHINA |
|
COLOROBBIA CHEMICALS INDIA PVT. LTD |
|
INDIA |
|
COLOROBBIA EAST EUROPE LLC |
|
RUSSIA |
|
COLOROBBIA EGE
KIMYA SAN.VE.TIC.AS. |
|
TURKEY |
|
COLOROBBIA ESPANA SA |
|
SPAIN |
|
COLOROBBIA GLAZE (KUNSHAN) |
|
CHINA |
|
COLOROBBIA ITALIA SPA |
|
ITALY |
|
COLOROBBIA POLSKA SP. Z O.O |
|
POLAND |
|
COLOROBBIA SPA |
|
ITALY |
|
COLOROBBIA TAIWAN CO. LTD. |
|
TAIWAN |
|
COLOROBBIA THAI CO. LTD.- |
|
THAILAND |
|
INDUSTRIE BITOSSI (GUANGZHOU) |
|
CHINA |
|
INDUSTRIE BITOSSI INC |
|
USA |
|
INKABOR BOLIVIA
S.R.L |
|
BOLIVIA |
|
MINERALS CO. LTD. |
|
CHINA |
|
P.T. COLOROBBIA INDONESIA |
|
INDONESIA |
BOARD OF
DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
|
NAME |
JOB TITLE |
STAKE |
|
USSEGLIO GAYTAN, JAVIER
FRANCISCO |
Proxy |
|
|
MERMA CHOQUEHUANCA, MAGDA
SILVIA |
Proxy |
|
|
ZEVALLOS BARREDA, JUAN LUIS |
General Manager |
|
|
INDUSTRIE BITOSSI S.P.A |
Shareholder |
90.14% |
|
OTHER MINOR SHAREHOLDERS |
Shareholder |
9.86% |
DATA OF BOARD OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
USSEGLIO GAYTAN, JAVIER FRANCISCO
Peruvian, ID 29249915; Date
of birth 10/03/1963. Currently, he is a proxy of the company since 22/05/2014.
MERMA CHOQUEHUANCA, MAGDA SILVIA
Peruvian, ID 29337982; Date
of birth 19/02/1968. Currently, she is a proxy of the company since 22/05/2014
ZEVALLOS BARREDA, JUAN LUIS
Peruvian - ID 29594773, he
Works in the company since 2002. He also studied in the following entities:
-
University of Tarapaca, title of the MBA degree (in
progress) - Academic Discipline Master in Business Administration - Dates of
study or expected graduation date 2007-2008.
-
Catholic University of Santa Maria, name of the degree
Public Score - Academic Discipline Accounting, dates of study or expected
graduation date 1988-1992.
OPERATIONS
|
SECTOR |
B- Mining and Quarrying |
|
ACTIVITY |
Mining |
|
ISIC CATEGORY |
07- Extraction of Metal Minerals |
|
ISIC CLASS |
0729- Extraction of Other Non-Ferrous Metal Minerals |
|
MAIN ACTIVITY |
The company is engaged in the exploitation of a boron deposit to
produce and trade boric acid and derivatives. |
|
% SALES IN CASH |
20% |
|
% SALES ON
CREDIT |
80% (terms at 30-60 days) |
|
% TERRITORY OF
SALES |
10% (domestic market) 90% (foreign market) |
|
N. OF EMPLOYEES |
155 |
LOCATION.-
ADMINISTRATIVE OFFICE: Located at caption address in a
rural zone of the city with easy access. Premise
occupied since 21/09/1998 and with an area of 2,000sq.m.
Previously located at Calle Paul Rivet Nro. 33 Urb. Los Pinos Arequipa, Arequipa,
Arequipa.
Other premises:
STORAGE
Car. Matarani-Mollendo Nro. 56
Matarani Arequipa - Islay - Islay
-
Carretera Ventanilla
(N.Gambeta) Km. 14.5 Fnd. Marquez Del Valle Chillon Prov. Const. Del Callao - Prov. Const. Del Callao – Ventanilla
-
Av. Nueve Nro.
S/N Z.I. Pque. Ind. Oquendo (Cuadra 1) Prov. Const. Del
Callao - Prov. Const. Del Callao – Callao
-
Com. Campe.
Salinas Huito (A 2 Km Del Pueblo De Huito) Arequipa - Arequipa - San Juan De
Tarucani
-
Ubic. Rur.
Ampliacion Del Parque Industrial Rio Seco Arequipa - Arequipa - Cerro Colorado
PRODUCTIVE
AREA
-
Car.
Arequipa-Puno Nro. 90 Salinas Arequipa - Arequipa - San Juan De Tarucani
-
Av. Italia Nro.
101 Z.I. Parque Ind. Rio Seco Arequipa, Arequipa, Cerro Colorado
COMMENTS AS TO OPERATIONS.-
The company operates
directly and its main product boric acid, which is mainly used in the glass
industry, agriculture and ceramics.
The company operates
an open-pit boron mine, located at 78 km north-east of the city of Arequipa,
Peru, in the spot of Laguna Salinas, surrounded by volcanoes such as the Misti
and Ubinas. The site where Ulexite ore is mined and operates for 6 months a year
due to heavy rains (November-April).
-
Río Seco Unit
-
Arequipa - Peru
This unit is located
in the city of Arequipa and is made up of 5 production plants, which operate 24
hours a day and have modern technology, characteristics that have allowed us to
comply with the most demanding international standards, acquiring
certifications: ISO 9001, ISO 14001, OHSAS 18001, among others.
The 5 plants of this
unit are:
-
Boric Acid Plant: started operations in 1998 and is
currently one of the most modern refineries in the world, within a continuous
process production line.
-
Bórax plant: started operations in 2002.
-
Ulexita Concentrator Plant: started operations in
2012, producing a high purity ulexite.
-
Special Borates Plant: started operations in 2012. It
currently produces high solubility borates.
-
Sodium Octoborate Plant: started operations in 2000 in
the pre-existing Oquendo Unit (Callao). During 2014 it was transferred to the
Río Seco Unit.
Third Party Brands: INKABORN, FERTIBRAGA.
Main Clients:
-
AGRO
GANADERA PIRAPEY SA (PARAGUAY)
-
AMALGAMET (CANADA)
-
BRENNTAG COLOMBIA S.A.
-
COLOROBBIA
BRASIL PRODUTOS PARA CERÁMICA LTDA.
-
COLOROBBIA ESPAÑA SA
-
ESFEL SA (ECUADOR)
-
FERTILIZANTES HERINGER S.A.
-
FRIT INDUSTRIES INC
-
INKABOR BOLIVIA S.R.L. (BOLIVIA)
-
MCM QUIMICA INDUSTRIAL LTDA.
-
MICROSOURCE LLC
-
PT COLOROBBIA INDONESIA
-
SARAL CHEM (INDIA)
-
SQM
COMERCIAL DE MEXICO SA DE CV (MEXICO)
-
SUPREME BOROCHEM PRIVATE LIMITED
-
TAIAN OCEAN CHEMICAL CO LTD (ECUADOR)
-
Among others
Main Competitors:
-
ANDIKEM PERU SRL
-
CJ NETCOM S.A.C.
-
CORPORACION
CAMPOMIN S.A.C.
-
CUSA S.A.C.
-
E & M S.R.L.
-
FERTILIZANTES DEL SUR SA
-
HORTUS SA
-
LABMINSUR S.A.C.
-
MOLINOS & CIA SA
-
NEO AG S.A.C.
-
QUIMICOS GOICOCHEA S.A.C
-
QUIMPAC S.A.
-
QUIMTIA S.A
-
R & R QUIMICOS S.A.C.
-
TECNOLOGIA Y COMERCIO SA
-
ULEXANDES S.A.C.
-
ZINC INDUSTRIAS NACIONALES S A
-
Among others
The company imports
orthoboric acid; Boron oxides; Boric acids, natural borates and concentrates
thereof, etc.
FOREIGN
TRADE
|
|
IMPORTS |
|
YEAR |
2017 |
|
AMOUNT |
US$4,837,073.00 |
|
COUNTRIES |
Bolivia, Chile, Italy, Brazil, China, Germany, USA, India, Poland,
Spain |
|
NUMBER OF
OPERATIONS |
273 |
|
|
IMPORTS |
|
YEAR |
2016 |
|
AMOUNT |
US$6,023,842.00 |
|
COUNTRIES |
Bolivia, Chile, Italy, Brazil, China, Germany, USA, India, Poland,
Spain |
|
NUMBER OF
OPERATIONS |
247 |
|
|
IMPORTS |
|
YEAR |
2015 |
|
AMOUNT |
US$5,736,514.00 |
|
COUNTRIES |
Bolivia, Chile, Italy, Brazil, China, Germany, USA, India, Poland,
Spain |
|
NUMBER OF
OPERATIONS |
305 |
|
|
IMPORTS |
|
YEAR |
2014 |
|
AMOUNT |
US$3,221,669.00 |
|
COUNTRIES |
Bolivia, Chile, Italy, Brazil, China, Germany, USA, India, Poland,
Spain |
|
NUMBER OF
OPERATIONS |
172 |
|
|
IMPORTS |
|
YEAR |
2013 |
|
AMOUNT |
US$4,664,164.00 |
|
COUNTRIES |
Bolivia, Chile, Italy, Brazil, China, Germany, USA, India, Poland,
Spain |
|
NUMBER OF
OPERATIONS |
346 |
|
|
EXPORTS |
|
YEAR |
2017 |
|
AMOUNT |
US$32,989,642.00 |
|
COUNTRIES |
China, Brazil, USA,
Colombia, Malaysia, New Zealand, Netherlands, Poland, Belgium, Australia,
Iran, India |
|
NUMBER OF OPERATIONS |
851 |
|
|
EXPORTS |
|
YEAR |
2016 |
|
AMOUNT |
US$27,195,987.00 |
|
COUNTRIES |
China, Brazil, USA,
Colombia, Malaysia, New Zealand, Netherlands, Poland, Belgium, Australia |
|
NUMBER OF OPERATIONS |
787 |
|
|
EXPORTS |
|
YEAR |
2015 |
|
AMOUNT |
US$31,392,480.00 |
|
COUNTRIES |
China, Brazil, USA,
Colombia, Malaysia, New Zealand, Netherlands, Poland, Belgium, Australia |
|
NUMBER OF OPERATIONS |
800 |
|
|
EXPORTS |
|
YEAR |
2014 |
|
AMOUNT |
US$32,886,987.00 |
|
COUNTRIES |
China, Brazil, USA,
Colombia, Malaysia, New Zealand, Netherlands, Poland, Belgium, Australia |
|
NUMBER OF OPERATIONS |
681 |
|
|
EXPORTS |
|
YEAR |
2013 |
|
AMOUNT |
US$39,197,863.00 |
|
COUNTRIES |
China, Brazil, USA,
Colombia, Malaysia, New Zealand, Netherlands, Poland, Belgium, Australia,
Malaysia |
|
NUMBER OF OPERATIONS |
764 |
FINANCIAL
INFORMATION
This report was elaborated through external resources since the
executives declined to provide any information of the company on grounds of
confidentiality.
FIXED ASSETS.-
The company owns:
-
Office furniture
-
Buildings and other constructions
-
Machinery and equipment
-
Computer equipment
-
Transportation units
-
Tools, etc.
INSURANCE.-
The company holds an all
risk insurance policy (unspecified company’s name, coverage amount and expiry
date).
PAYMENTS
REFERENCES
|
SUPPLIER |
DOMESTIC |
|
START OF THE BUSINESS |
2014 |
|
CREDIT TERMS |
30 days |
|
PRODUCTS/SERVICES |
Installation of electrical and mechanical projects |
|
COMMENTS |
Payments through bank deposits Average monthly operations amount: S/.200,000.00 Soles Supplier: DIMEMSA SRL |
|
SUPPLIER |
DOMESTIC |
|
START OF THE BUSINESS |
Many years ago |
|
CREDIT TERMS |
30 days |
|
PRODUCTS/SERVICES |
Boilers |
|
COMMENTS |
Payments through bank deposits Average monthly billing amount: US$20,000.00 Dollars Supplier: VAPORTEC SAC |
|
SUPPLIER |
DOMESTIC |
|
START OF THE BUSINESS |
Many years ago |
|
CREDIT TERMS |
30 days |
|
PRODUCTS/SERVICES |
Customs agency |
|
COMMENTS |
Payments through bank deposits Supplier: PALACIOS & ASOCIADOS AGENTES DE ADUANA SA |
|
SUPPLIER |
DOMESTIC |
|
START OF THE BUSINESS |
8 years ago |
|
CREDIT TERMS |
30 days |
|
PRODUCTS/SERVICES |
Customs agency |
|
COMMENTS |
Payments through bank deposits Average operations amount: S/.15,000.00 Soles Supplier: AZSANET SA |
|
SUPPLIER |
DOMESTIC |
|
START OF THE BUSINESS |
2004 |
|
CREDIT TERMS |
- |
|
PRODUCTS/SERVICES |
Logistic services |
|
COMMENTS |
Payments through bank deposits and in cash Average operations amount: S/.7,500.00 Soles Supplier: SCHARFF LOGISTICA INTEGRADA S.A |
|
LOCAL SUPPLIERS |
Phone Number |
Contact Name |
|
AZSANET SA |
(51-54) 252.113 |
Antonio Arce |
|
DIMEMSA SRL |
(51-54) 26.5181 |
Alana Sánchez |
|
PALACIOS
& ASOCIADOS AGENTES DE ADUANA SA |
(51-1) 465.2959 |
Erika Urbina |
|
SCHARFF LOGISTICA
INTEGRADA SA |
(51-1) 517.1650 |
José Moret |
|
VAPORTEC SAC |
(51-1) 447.5686 |
Mario de la Torre |
|
FOREIGN
SUPPLIERS |
Country |
Phone Number |
Contact Name |
|
AGROMASTER LLC |
Russia |
|
|
|
ALBERTI INTERNATIONAL SRL |
Italy |
(39-03) 7651.0065 |
|
|
ALFA VALVOLE S.R.L. |
Italy |
(39-02) 9029.6206 |
|
|
ALLGAIER PROCESS TECHNOLOGY GMBH |
Germany |
(49-071) 6130.1175 |
|
|
COLOROBBIA ESPAÑA S.A. |
Spain |
|
|
|
COLOROBBIA SPA |
Italy |
|
|
|
CORESA S.A. |
Chile |
(56-2) 510.8800 |
|
|
FORSAC S.A. |
Chile |
(56-2) 2441.2151 |
|
|
STAPPERT DEUTSCHLAND MBH |
Germany |
(030) 4284.0312 |
|
|
TESSITURA F.LLI FONTANA S.R.L. |
Italy |
(39-03) 924.3121 |
|
|
UNIPAR CARBOCLORO S.A. |
Brazil |
(55-11) 3704.4200 |
|
|
ZAKKENCENTRALE BV |
Netherlands |
(31-1) 0437.0055 |
|
COMMENTS OF SUPPLIERS.-
Others
suppliers consulted do not provide commercial information regarding clients on grounds
of confidentiality.
BANKS
|
Bank Name |
Country |
Phone Number |
|
BANCO
BBVA CONTINENTAL |
Peru |
(51-1) 595.0000 |
|
BANCO DE CREDITO DEL PERU |
Peru |
(51-1) 311.9500 |
|
BANCO INTERNACIONAL DEL PERU SAA- INTERBANK SAA |
Peru |
(51-1) 311.9001 |
|
SCOTIABANK
PERU SAA |
Peru |
(51-1) 311.6000 |
BANK REFERENCES
Consulted Banks do
not provide information of its clients on grounds of confidentiality.
LITIGATIONS
According to the National
Superintendency of Tax Administration (SUNAT), the company does not report any
coercive debts or tax omissions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.79 |
|
PEN |
1 |
INR 20.18 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.