MIRA INFORM REPORT

Report No. :	511992
Report Date :	31.05.2018

IDENTIFICATION DETAILS

Name :	SUTEX S A S
Registered Office :	Autopista Medellin Kilometro 1.7 Entrada Parque la florida Bodega 28 y 29 Bogotá, Bogotá D.C
Country :	Colombia
Financials (as on) :	31.12.2017
Date of Incorporation :	16.03.1978
Legal Form :	Companies for simplified actions sas
Line of Business :	Subject is a company dedicated to the design and marketing of textiles for clothing, decoration, lingerie, footwear and leather goods.
No. of Employees :	157

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 :	Good
Payment Behaviour :	Regular
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	SUTEX S A S
Trade Name	SUTEX
ID	NIT
ID Details	860052989 - 1
Creation Date	1978
Incorporation Date	1978-03-16
Legal Address	Autopista Medellin Kilometro 1.7 Entrada Parque la florida Bodega 28 y 29 Bogotá, Bogotá D.C Colombia
Operative Address	Autopista Medellin Kilometro 1.7 Entrada Parque la florida Bodega 28 y 29 Bogotá, Bogotá D.C Colombia
Telephone	Telephone: (571) 3580000 ext 363 - 388 - 364 Mobile: 315 266 6971 - 316 833 6151
Fax	(571) 3580027
Legal Form	SOCIEDADES POR ACCIONES SIMPLIFICADAS SAS
E-Mail	servicioalcliente@sutex.com Viviana Riaño: vivianar@sutex.com
Registered In	COLOMBIA
Website	www.sutex.com (the website is not working at the moment)
Contact	AMITAI LIBERMAN LEON, Legal Representative and General Manager
Staff	157 employees
Activity	4641 Wholesale trade of textile products, made-up products for domestic use 6810 Real estate activities carried out with own or leased property 1399 Manufacture of other textile articles n.c.p.

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 1978.
Key Developments	NA
Parent Company	NA

Principal Activity

General Description

SUTEX S.A.S. is a company dedicated to the design and marketing of textiles for clothing, decoration, lingerie, footwear and leather goods.

Service/Product Description

Textiles for clothing, upholstery, lingerie, footwear and leather goods.

Sales

Wholesale and Retail

Operations Area

National and International

Imports From

USA and India

Export To

Peru and Ecuador

Employees

157 employees

Payments With Suppliers

Regular

Brands
Brand	Comments
STX	NA
Sutex Internacional	NA
SuGrupo Sutex	NA

Clients
Name of Client	Country	Comments
Amery Ventures Llc	PERU	NA
Saga Falabella S A	PERU	NA
Stx Textiles Cia Ltda	ECUADOR	NA

Comments

NA

Suppliers
Supplier Name	Country	Comments
Fancy World Inc.	USA	NA
Reliance Industries Ltd.	INDIA	NA

Comments

NA

Location
Headquarters	Autopista Medellin Kilometro 1.7 Entrada Parque la florida Bodega 28 y 29 Bogotá, Bogotá D.C Colombia
Branches	SUTEX BOGOTA Enrollment: 99504 SUTEX 12 - O BOGOTA Enrollment: 2447322 SUTEX CALI CALI Enrollment: 908308 SUTEX CIUDAD DEL RIO MEDELLIN PARA ANTIOQUIA Enrollment: 60413802

Group Structure and Subsidiary Companies
Listed at the stock exchange	NO
Capital	COP $11,623,200
Shareholders (%)	This is a private company. The company does not disclose information on shareholders. The following information has been obtained through private sources and could not be confirmed:
Management	AMITAI LIBERMAN LEON, Legal Representative and General Manager SUTTON NEIRUS KAREN, Alternate Legal Representative AMITAI LIBERMAN MARYAN, Alternate Legal Representative Juan Carlos Yacoub Salas, Commercial Director Carolina Infante, Legal, Risk and Compliance Officer Carolina Botero, Financial Manager Rubén Echeverri, International Business Manager Viviana Riaño, Sales
Subsidiary Companies	NA
Related Companies	AVANTGARD SAS Colombia

Financial Information
General Description	WE ATTACH THE LATEST FINANCIAL STATEMENTS OF THE COMPANY

Legal Filings
Lawsuits	NUMBER OF RADICATION 11001310300620120053800 CITY BOGOTA, D.C. KIND Of execution DEMANDING PARTIES SUTEX SAS DEMANDED PARTIES JUANITA SAENZ POMBO SIP S.A. NUMBER OF RADICATION 66001310300120120039200 CITY PEREIRA KIND Singular Executive DEMANDING PARTIES SUTEX SAS DEMANDED PARTIES DAVID GUILLERMO RODRIGUEZ GARZON NUMBER OF RADICATION 68001402200220150005700 CITY BUCARAMANGA KIND Of execution DEMANDING PARTIES SUTEX SAS DEMANDED PARTIES LILIANA BARAJAS LOPEZ NUMBER OF RADICATION 76001400302520110077900 CITY CALI KIND Singular Executive DEMANDING PARTIES SOCIEDAD SUTEX SAS DEMANDED PARTIES MEASURE PR8 // - MYNM- COMPANY CORPORATE RANGE E.U. MEASURE PR8 // - MYNM NUMBER OF RADICATION 11001400305720150044500 CITY BOGOTA, D.C. KIND Singular Executive DEMANDING PARTIES SUTEX SA T3 TEXTILES SAS DEMANDED PARTIES LUZ MERY ALCALA ORTIZ
Trademarks	STX Sutex Internacional SuGrupo Sutex
Patents Registered	No records found
Renewals	No records found
UCC (Uniform Commercial Code)	NA
OFAC Sanctions List Search	The company is not listed in the OFAC list.

Summary

Summary

Founded in 1978, SUTEX S.A.S. is a company dedicated to the design and marketing of textiles for clothing, decoration, lingerie, footwear and leather goods. The company has approximately 157 full-time employees. It mainly imports from USA and India, and exports to Peru and Ecuador, operating within national and international markets. This has been an ACTIVE company incorporated in COLOMBIA in 1978.

Risk Information
Debts	Controlled
Payments	Regular
Cash Flow	Normal
State	ACTIVE

Interview
First Name	Alicia
Position	Operator
Comments	The person contacted confirmed legal name, trade name, telephone and website. She confirmed that the website is not working at the moment. She asked the reason of the call and refused to provide further information.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.63
UK Pound	1	INR 89.70
Euro	1	INR 78.20
COP	1	INR 0.023

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	SYL

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.