MIRA INFORM REPORT

Report No. :	507527
Report Date :	10.05.2018

IDENTIFICATION DETAILS

Name :	METAL CORAZA S.A.S.
Registered Office :	Mz 8 Pimsa Km 3 Malambo-S/Grande En Malambo Parque Industrial Malambo ( Pïmsa) Atlantico Baranquilla Colombia
Country :	COLOMBIA
Financials (as on) :	31.12.2016
Date of Incorporation :	2013
Legal Form :	Sociedades Por Acciones Simplificadas Sas
No. of Employees :	19

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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)
Colombia	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

COLOMBIA - ECONOMIC OVERVIEW

Colombia heavily depends on energy and mining exports, making it vulnerable to fluctuations in commodity prices. Colombia is Latin America’s fourth largest oil producer and the world’s fourth largest coal producer, third largest coffee exporter, and second largest cut flowers exporter. Colombia’s economic development is hampered by inadequate infrastructure, poverty, narcotrafficking, and an uncertain security situation, in addition to dependence on primary commodities.

Colombia’s economy slowed in 2017 because of falling global oil prices and lower oil production due to insurgent attacks on pipeline infrastructure. Although real GDP growth averaged 4.7% during the past decade, it fell to an estimated 1.8% in 2017. Declining oil prices also have contributed to reduced government revenues. In 2016, oil revenue dropped below 4% of the federal budget and likely remained below 4% in 2017. A Western credit rating agency in December 2017 downgraded Colombia’s sovereign credit rating to BBB-, because of weaker-than-expected growth and increasing external debt. Colombia has struggled to address local referendums against foreign investment, which have slowed its expansion, especially in the oil and mining sectors. Colombia’s FDI declined by 3% to $10.2 billion between January and September 2017.

Colombia has signed or is negotiating Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia FTA went into effect in May 2012. Colombia is a founding member of the Pacific Alliance—a regional trade block formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade and economic integration. The Colombian government took steps in 2017 to address several bilateral trade irritants with the US, including those on truck scrappage, distilled spirits, pharmaceuticals, ethanol imports, and labor rights. Colombia hopes to accede to the Organization for Economic Cooperation and Development.

Source : CIA

Statutory Information
Legal Name	METAL CORAZA S.A.S.
Trade Name	METAL CORAZA
ID	NIT
ID Details	800094123 - 2
Creation Date	2013
Incorporation Date	2016-12-30
Legal Address	MZ 8 PIMSA KM 3 MALAMBO-S/GRANDE en Malambo Parque industrial Malambo ( PÏMSA) ATLANTICO BARANQUILLA COLOMBIA
Operative Address	MZ 8 PIMSA KM 3 MALAMBO-S/GRANDE en Malambo Parque industrial Malambo ( PÏMSA) ATLANTICO BARANQUILLA COLOMBIA
Telephone	(575) 377 0360
Fax	(575) 377 0360
Legal Form	SOCIEDADES POR ACCIONES SIMPLIFICADAS SAS
E-Mail	Gerente@metalcoraza.com CONTADORESUNIDO@GMAIL.COM
Registered In	COLOMBIA
Website	www.metalcoraza.com
Contact	Hernandez Avila Mario Arturo, General Manager, Director and Legal Representative
Staff	19 employees
Activity	2410 Basic iron and steel industries

Banks
Name of Bank	Reported Amount
BANCOLOMBIA	NA
Description	The company does not make its banking data public.

History
History	The company was founded in 2013
Key Developments	NA
Parent Company	NA

Principal Activity

General Description

Metal Coraza S.A.S is a Colombian company dedicated to the manufacturing specialized FLEXIBLE CONDUIT, without and with PVC (Type Liquid - Tight), prepared for the conduct and protection of electrical cables and fiber optics, according to market demands.

Service/Product Description

PRODUCTS
Flexi Conduit
Liquid tight flexible conduit
Connectors
Liquid tight conectors
Accessories
EMT Connectors
Accessories
EMT Unions
Boxes and conduletas
Box and oval conduit

Sales

Wholesale

Operations Area

National and International

Imports From

India and China

Export To

Ecuador and Peru

Employees

19 employees

Payments With Suppliers

Regular

Brands
Brand	Comments
METAL CORAZA	NA

Clients
Name of Client	Country	Comments
Diprelsa S.A.	ECUADOR	NA
Plastielectric S.A.	ECUADOR	NA
Promotores Electricos S A	PERU	NA

Comments

NA

Suppliers
Supplier Name	Country	Comments
Engser Limited	INDIA	NA
Yuyao Hengxing Pipe Co Ltd	CHINA	NA

Comments

NA

Location
Headquarters	MZ 8 PIMSA KM 3 MALAMBO-S/GRANDE en Malambo Parque industrial Malambo ( PÏMSA) ATLANTICO BARANQUILLA COLOMBIA
Branches	No branches found

Group Structure and Subdiary Companies
Listed at the stock exchange	NO
Capital	COP $150,000
Shareholders (%)	This is a private company. The company does not disclose information on shareholders. Despite our long search, we could not confirm major holders.
Management	Hernandez Avila Mario Arturo, General Manager, Director And Legal Representative Salazar Ramirez Maria Bertha, Alternate Manager, Director And Alternate Legal Representative Opez Pineda Heresmildo, Statuory Auditor Maria Emma Rico Cifuentes, Alternate Statuory Auditor Hernandez Salazar Mario Sebastian, Director
Subsidiary Companies	NA
Related Companies	NA

Financial Information
General Description	We attach the latest financial statements of METAL CORAZA S.A.S.
Imports	Foreign trade in the last 5 years: Imports:: 32 US$: 1,538,781
Exports	Foreign trade in the last 5 years: Exports: Records: 90 US$: 2,104,416
Legal Filings
Lawsuits	NUMBER OF RADICATION: 11001310304020110012700 CITY: BOGOTA, D.C. PARTS: Defendant: DIRECTORATE OF TAXES AND NATIONAL CUSTOMS Applicant: METAL CORAZA S.A.S.
Trademarks	No records found
Patents Registered	No records found
Renewals	No records found

Summary

Summary

Founded in 2013, Metal Coraza S.A.S is a Colombian company dedicated to the manufacturing specialized FLEXIBLE CONDUIT, without and with PVC (Type Liquid - Tight), prepared for the conduct and protection of electrical cables and fiber optics, according to market demands. The company has approximately 19 employees. The company imports from India and China, and exports to Ecuador and Peru, operating within national and international markets. This has been an ACTIVE company incorporated in COLOMBIA in 2016.

Risk Information
Debts	Controlled
Payments	Payment
Cash Flow	Normal
State	ACTIVE

Interview
First Name	Joahna Garcia
Position	Operator
Comments	The person contacted confirmed legal name, trade name, address, telephone, and website. She refused to provide further information through the phone explaining that she was not allowed to do so. She transferred the call but nobody answered.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.38
UK Pound	1	INR 91.09
Euro	1	INR 79.75
COP	1	INR 0.023

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)

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.