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MIRA INFORM REPORT
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Report No. : |
503171 |
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Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIAL TEXTIL ACUARIO SA |
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Registered Office : |
Av. Prolongacion Parinacochas No. 1180, Urb. San German,
La Victoria |
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Country : |
Peru |
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Date of Incorporation : |
07.07.1995 |
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Legal Form : |
Stock Company |
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Line of Business : |
Manufacture and trade of socks and underwear |
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No. of Employees : |
230 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Peru |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company
name and address
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COMPANY
NAME |
INDUSTRIAL TEXTIL ACUARIO SA |
|
TRADE
NAME |
INDUTEXA SA |
|
TAX
ID. TYPE |
RUC |
|
TAX
ID. NUMBER |
20267910813 |
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CURRENT
STATUS |
Active |
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MAIN
ADDRESS |
Av. Prolongacion Parinacochas No. 1180, Urb. San German,
La Victoria |
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CITY/PROVINCE/STATE |
Lima 13 |
|
PHONE
NUMBER(S) |
(51-1) 473.2913/474.6282/474.6570 |
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FAX
NUMBER(S) |
(51-1) 474.3087 |
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EMAIL |
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|
WEBSITE |
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REMARKS
OF IDENTIFICATION |
This report was requested with company name: INDUSTRIAL
TEXTIL ACUARIO SA, and address: Jr. Parinacochas No.1180 Lima 13, Peru. Please notice that the correct
data is shown above. |
|
CREDIT OPINION |
|
Industrial company of recognized prestige locally. It
seems to operate satisfactorily in a competitive sector. No detrimental were
found. |
|
PAYMENT
RECORDS |
Regular |
LEGAL
INFORMATION
|
TYPE
OF COMPANY |
Stock Company |
|
INCORPORATION
DATE |
01/07/1995 |
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REGISTERED
IN |
Lima |
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REGISTRATION |
Card No. 119513, Certificate No. 00195340 of the Registry
of Legal Entities of Lima |
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DURATION |
Unlimited |
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INITIAL
CAPITAL |
S/.50,000.00 Soles |
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PAID-UP
CAPITAL |
S/.16,082,700.00 Soles |
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LAST
CAPITAL INCREASE |
04/12/2012 (Notary Francisco R. Banda de Gonzales) |
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TYPE
OF SHARES |
Registered stock |
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VALUE
OF SHARES |
S/.20.00 |
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LISTED
AT STOCK EXCHANGE |
NO |
LEGAL
ASPECTS.-
A capital increase due to capitalization of profits was recorded
on December 4th, 2012 before Notary Francisco R. Banda de Gonzales.
BOARD
OF DIRECTORS, EXECUTIVES AND SHAREHOLDERS
|
NAME |
JOB
TITLE |
STAKE |
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CUEVAS VILLA, SANTOS ANANIAS |
President/General Manager |
YES |
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SILVA VIOLETA, DAVID FERNANDO |
Director/Executive Manager |
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SILVA VIOLETA, VILMA |
Sales Director |
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MARREROS, MARCOS |
General Accountant |
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CUEVAS VILLA, NARCISO CARLOS |
Shareholder |
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CUEVAS VILLA, JESUS MARIA |
Shareholder |
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DATA
OF BOARD OF DIRECTORS, EXECUTIVES AND SHAREHOLDERS
CUEVAS VILLA, SANTOS ANANIAS
Peruvian, ID No. 10303549. Industrial Engineer. Married to
Vilma Silva Violeta.
SILVA VIOLETA, DAVID FERNANDO
Peruvian, ID No. 06206162.
CUEVAS VILLA, NARCISO CARLOS
Peruvian, married to Rosario Rivera Choy.
CUEVAS VILLA, JESUS MARIA
Peruvian, married to Ricardo Llanos Laureano.
OPERATIONS
|
SECTOR |
C- Manufacturing Industries |
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ACTIVITY |
Manufacture of clothing |
|
ISIC
CATEGORY |
14- Manufacture of clothing |
|
ISIC
CLASS |
1410- Manufacture of clothing, except for leather clothing |
|
MAIN
ACTIVITY |
Manufacture and trade of socks and underwear. It trades the following brands: “ALTEZA”, “EMPERADOR”,
“BOYS & GIRLS”, “EMPERADOR KIDS”. Likewise, it is representative of the following brands:
“ADIDAS”, “REEBOK”, “FILA”, “BABY LOONEY TUNES”, “HELLO KITTY”, “MADAGASCAR”. |
|
%
SALES IN CASH |
25% |
|
%
SALES ON CREDIT |
75% (terms at 15, 30 days) |
|
%
TERRITORY OF SALES |
95% (nationwide) |
|
%
FOREIGN SALES |
5% |
|
N.
OF EMPLOYEES |
230 |
LOCATION.-
MAIN OFFICES: Located at the heading address. Premises in
good condition.
STORES:
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Pj. Canepa No. 157 (a
unas cuadras del Parque Canepa), La Victoria, Lima 13.
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Jr. Humbolt No. 1377
(a tres cuadras del Parque Canepa), La Victoria, Lima 13. Phone: (51-1)
324.6963
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Jr. America No. 390 (a
dos cuadras del Parque Canepa), La Victoria, Lima 13. Phone: (51-1) 323.5408
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Jr. America No. 392,
Int 103 (a dos cuadras del Parque Canepa), La Victoria, Lima 13. Phone: (51-1)
474.0468
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Prolongación Gamarra
No. 1109, Int. 102, La Victoria, Lima 13.
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Prolongación Gamarra
No. 575 (a una cuadra del Parque Canepa), La Victoria, Lima 13.
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Jr. America No. 340 (a
dos cuadras del Parque Canepa), La Victoria, Lima 13. Phone: (51-1) 473.0754
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Av. Carretera Central
No. 111 (Local Comercial B-2045), Santa Anita, Lima 43.
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Av. Capitan Elias
Aguirre No. 450, Cercado de Chiclayo (Juan Cuglivan), Lambayeque, Chiclayo,
Chiclayo.
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Cal. Daniel Alcides
Carrion No. 198, Cercado de Chiclayo, Lambayeque, Chiclayo, Chiclayo.
PRODUCTION SITE: Prolongacion Parinacochas No. 1210 (a dos
cuadras Av. Mexico), La Victoria, Lima 13.
WAREHOUSE: Cal. Alexander Von Humbolt No. 1373, Int. 901 (a
tres cuadras del Parque Canepa), La Victoria, Lima 13.
COMMENTS
OF OPERATIONS.-
It operates directly.
It produces and trades socks and underwear for all ages and
occasions at national and international level.
It sells to the general public through its own stores.
It sells in bulk to traders, supermarkets and department
stores.
Main clients:
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AMAZON CORPORATION SA
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SOCKS PANDA
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KINGSMAN LLOYD LLC
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GARBO CA
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CRISALLTEX SA
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GARBO SPORT
INTERNATIONAL INC.
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COMERCIAL CLIMABEST
LTDA.
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GRAN PORTUARIA SA
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CHARITYUSA COM LLC
Main competitors:
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CONFECCIONES LANCASTER
SA
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TEXTIL CHAVIN SA
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MEDIAS VILAV
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TEXTILON PERU SAC
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GRUPO YES SA
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VALDITEX SAC
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FARIDE ALGODON DEL
PERU SRL
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TEXTILES CAMONES SA
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JAS IMPORT &
EXPORT SRL
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INVERSIONES TEXTILES
DEL PACIFICO SAC
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TEXTIL CAMARGO SAC
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TEXTIL PUNTO BELLO SAC
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CORPORACION TEXTILES
DIAZ'C SAC
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AMITEX SAC
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COTTON MIX SOCIEDAD
ANONIMA CERRADA
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TEXTIL URBAN EIRL
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MILAN TEXTIL EIRL
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TEJIDOS GARCIA EIRL
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TEXTILES MUNOZ SA
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TEJIDOS GLOBAL SAC
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R.H. COTTON SOCIEDAD
ANONIMA CERRADA
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TEXTIL JHOYER SOCIEDAD
ANONIMA CERRADA, among others.
It imports synthetic or artificial threads, ironing machines
and presses, spare parts and others. Likewise, it exports socks.
FOREIGN
TRADE
|
|
IMPORTS |
|
YEAR |
2017 |
|
AMOUNT |
US$1,071,240.00 |
|
COUNTRIES |
India,
Taiwan, Italy, Spain, Turkey, China, Mexico, Germany, Pakistan, Portugal, UK,
Romania |
|
OPERATIONS |
233 |
|
|
IMPORTS |
|
YEAR |
2016 |
|
AMOUNT |
US$1,664,448.00 |
|
COUNTRIES |
India,
Taiwan, Italy, Spain, Turkey, China, Mexico, Germany, Pakistan, Portugal |
|
OPERATIONS |
332 |
|
|
IMPORTS |
|
YEAR |
2015 |
|
AMOUNT |
US$2,168,918.00 |
|
COUNTRIES |
India,
Taiwan, Italy, Spain, Turkey, China, Mexico, Germany, Pakistan, Portugal |
|
OPERATIONS |
285 |
|
|
IMPORTS |
|
YEAR |
2014 |
|
AMOUNT |
US$2,484,369.00 |
|
COUNTRIES |
India,
Taiwan, Italy, Spain, Turkey, China, Mexico, Germany, Pakistan. |
|
OPERATIONS |
431 |
|
|
IMPORTS |
|
YEAR |
2013 |
|
AMOUNT |
US$1,539,118.00 |
|
COUNTRIES |
India,
Taiwan, Italy, Spain, Turkey, China, Mexico, Germany, Pakistan. |
|
OPERATIONS |
399 |
|
|
EXPORTS |
|
YEAR |
2017 |
|
AMOUNT |
US$50,051.00 |
|
COUNTRIES |
USA |
|
OPERATIONS |
26 |
|
|
EXPORTS |
|
YEAR |
2016 |
|
AMOUNT |
US$58,554.00 |
|
COUNTRIES |
USA |
|
OPERATIONS |
22 |
|
|
EXPORTS |
|
YEAR |
2015 |
|
AMOUNT |
US$137,796.00 |
|
COUNTRIES |
Colombia,
Chile, Venezuela |
|
OPERATIONS |
61 |
|
|
EXPORTS |
|
YEAR |
2014 |
|
AMOUNT |
US$70,115.00 |
|
COUNTRIES |
Colombia,
Chile, USA |
|
OPERATIONS |
8 |
|
|
EXPORTS |
|
YEAR |
2013 |
|
AMOUNT |
US$152,145.00 |
|
COUNTRIES |
Colombia,
Chile, USA, Bolivia, Venezuela |
|
OPERATIONS |
29 |
FINANCIAL
INFORMATION
We contacted the Reception Area’s staff who refused to
provide any kind of information on grounds of confidentiality.
Therefore, all the information comprised herein has been
collected from outside sources.
No financial statements were obtained through outside
sources.
FIXED
ASSETS.-
-
Sewing machines
-
Cutting machines
-
Graphic design
equipment and others.
INSURANCE.-
No insurance policies were
found.
PAYMENTS
REFERENCES
|
LOCAL
SUPPLIERS |
Phone
Number |
Contact
Name |
|
BRENNTAG PERU SA |
(51-1) 313.4800 |
|
|
DHL EXPRESS ADUANAS PERU SAC |
(51-1) 517.2500 |
Andrea Cruzado |
|
FILAMENTOS INDUSTRIALES SA |
(51-1) 716.4200 |
Leydi Arredondo |
|
FOREIGN
SUPPLIERS |
Country |
Phone
Number |
|
BVM OVERSEAS LTD. |
India |
|
|
GALLOP INTERNATIONAL CO. LTD. |
Hong Kong |
(852) 2427.1231 |
|
GARBO SPORT INTERNATIONAL INC. |
USA |
(1-305) 599.8797 |
|
H.S. INDUSTRIES CO. LTD. |
South Korea |
(82-51) 311.0081 |
|
HUGO KERN UND LIEBERS GMBH & CO. LG |
Germany |
(49) 7422.5110 |
|
LONATI SPA |
Italy |
(39-30) 23901 |
|
NAHAR SPINNING MILLS LIMITED |
India |
(91-161) 260.0701 |
|
RSWM LIMITED |
India |
(91-120) 439.0300 |
|
S. VILARRASA SA |
Spain |
(34-972) 590.250 |
|
SANTONI SPA |
Italy |
(39-30) 376.7111 |
|
SMEW TEXTILE MACHINERY PVT LTD. |
India |
(91-2764) 286.304 |
|
SRI NUKALA RAMA KOTESWARA RAO TEXTILES PVT. LTD. |
India |
(91-863) 222.4908 |
|
T T LIMITED |
India |
(91-11) 4506.0708 |
|
VARDHMAN POLYTEX LIMITED |
India |
(91-991) 401.6840 |
|
VARTEX SRL |
Italy |
(39-30) 946.5770 |
|
WINSOME TEXTILE INDUSTRIES LIMITED |
India |
(91-172) 260.3966 |
COMMENTS
OF SUPPLIERS.-
Consulted suppliers do not provide trade references on
grounds of confidentiality.
BANKS
|
Bank
Name |
Country |
Phone
Number |
|
BANCO DE CREDITO DEL PERU SA |
Peru |
(51-1) 311.9500 |
|
BBVA BANCO CONTINENTAL SA |
Peru |
(51-1) 595.0000 |
|
SCOTIABANK PERU SAA |
Peru |
(51-1) 211.6000 |
BANK
REFERENCES
Consulted banks do not provide information of their clients on
grounds of confidentiality.
LITIGATIONS
No lawsuits were filed against the company.
SUPERINTENDENCY
According to the latest bulletin
as of 28/02/2018 issued by the Bank and Insurance Superintendency, the subject
receives a qualification of 100% NORMAL, based on the following information:
-
Credits
to Large Companies
Discounts S/.660,290.00
Credit cards S/.8,275.00
-
Accrued
current credit interests S/.2,940.00
------------------------------------------------------------------------------------
TOTAL DEBT S/.671,505.00
GUARANTEES
S/.1,801,150.00
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.94 |
|
|
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
|
PEN |
1 |
INR 20.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
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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.