Download - Empresa Biju
-
8/19/2019 Empresa Biju
1/34
1
"#$%&'($)*)& +&)&'*, )- .*'/
0'- (20$- &0-#34$0-
)&.*'1*4- )& 0$5#0$*( 0-#1/6&$(
0$6&,,& )- (-0-''- 4&,- 0-(1* 7878779788
0*',-( *,6&'1- 4-'&$'* )* ($,%* 7878778:88
)&,,;*#& )- #*(0$4- 0"$1& 787877 4-#1*=&4 )& ,-?* )& 6$?"1&'$*( @
0'$(1*, 6$?" *0&((-'$-(
0*.*#&4*A.*
B77C
-
8/19/2019 Empresa Biju
2/34
2
"#$%&'($)*)& +&)&'*, )- .*'/
0'- (20$- &0-#34$0-)&.*'1*4- )& 0$5#0$*( 0-#1/6&$(
0$6&,,& )- (-0-''- 4&,- 0-(1* 7878779788
0*',-( *,6&'1- 4-'&$'* )* ($,%* 7878778:88
)&,,;*#& )0 #*(0$4- 0"$1& 787877 4-#1*=&4 )& ,-?* )& 6$?"1&'$*( @0'$(1*, 6$?" *0&((-'$-(
"#$%$&'( )* +(,+&-./( )* +-#.( $0#*.*,1$)(0$#$ (%1*,2/( )* 34)5$ ,$ 65.+50&5,$ )*
7)35,5.1#$2/( 85,$,+*5#$ )( +-#.( )*95:,+5$. 9(,1;%*5. 0*&$ $#; ?7@AB#5*,1$)( 0*&( 0#(C*..(# D4%*# E$=(# F(#*5#$
0*.*#&4*B77C
-
8/19/2019 Empresa Biju
3/34
3
"#$%&'($)*)& +&)&'*, )- .*'/
0'- (20$- &0-#34$0-
)&.*'1*4- )& 0$5#0$*( 0-#1/6&$(
0$6&,,& )- (-0-''- 4&,- 0-(1* 7878779788
0*',-( *,6&'1- 4-'&$'* )* ($,%* 7878778:88
)&,,;*#& )0 #*(0$4- 0"$1& 787877 4-#1*=&4 )& ,-?* )& 6$?"1&'$*( @
0'$(1*, 6$?" *0&((-'$-(
"#$%$&'( )* +(,+&-./( )* +-#.( $0#*.*,1$)(0$#$ (%1*,2/( )* 34)5$ ,$ 65.+50&5,$ )*
7)35,5.1#$2/( 85,$,+*5#$ )( +-#.( )*95:,+5$. 9(,1;%*5. 0*&$ $#; ?7@AB#5*,1$)( 0*&( 0#(C*..(# D4%*# E$=(# F(#*5#$
0*.*#&4*B77C
*DEFGEHI JK> LLLMLLLMLLL 0INOJGPI> LLLLLLLLLLLLLL
6ENOE &QEKGNEHIRE>
LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL-RGJNPEHIR> .RIST UVWJR ,EDIR 4IRJGRE
LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL.RISJXXIR>
LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL.RISJXXIR>
-
8/19/2019 Empresa Biju
4/34
4
'&("4-
B 1#$%$&'( C(5 *&$%(#$)( +(3 5,1-51( )* $0#*.*,1$# -3 >&$,( )* G*HI+5( +(3(
0$#1* C-,)$3*,1$& )( 0#(+*..( $)35,5.1#$15=( 0$#$ )$# 5,5+5( $ =5)$ )* -3$
*30#*.$J .*3 +(##*# ( #5.+( )* 0*#)*# (. #*+-#.(. 5,=*.15)(.A 6*..$ C(#3$ C$KL.*
,*+*..;#5( )5K*# M-* ( >&$,( )* G*HI+5( ,/( 4 .I $ 3$,*5#$ )* +(3( C$K*# * .53 $
C(#3$ )* +(3( +(3*2$# -3 *30#**,)53*,1( .$%*,)( .* =$5 1*# &-+#$15=5)$)* (-
,/(A
9(3 ( >&$,( )* G*HI+5( 0()*L.* 1*# *3 =5.1$ ( M-* (+(##*#; ,( C-1-#(J
*=51$,)( (. #5.+(. )*..* *30#**,)53*,1(J $,$&5.$,)( * )*1*#35,$,)( .-$0$#15+50$2/( ,( 3*#+$)( +(,.-35)(# * +(,.*MN*,1*3*,1* .-$. 0(..5%5&5)$)*. )*
&-+#(.A 7&43 )( 3$5.J .*3 ( +(,'*+53*,1( *.0*+OC5+( )* -3 0&$,( )*1$&'$)( ,/( 4
.-C5+5*,1* 0$#$ ( .-+*..( )( ,*HI+5(J *..* * ( 3(15=( M-* &*=$ 3-51$. )$.
0*M-*,$. *30#*.$. $ .$O#*3 )( 3*#+$)( +(3 3*,(. )* )(5. 3*.*. )* $1-$2/(A
9(3( .* 0()* (%.*#=$#J ( (%P*15=( 0#5,+50$& )*.1* 1#$%$&'( * *,C$15K$# M-* ';
$ 530(#1Q,+5$ )$ *&$%(#$2/( )* -3 >&$,( )* G*HI+5(.J ,/( 530(#1$,)( M-$& .-$,$1-#*K$J ,*3 ( 0-%&5+( $ .*# $15,H5)(A >(# 5..( *&$%(#$3(. -3 >&$,( )* G*HI+5(
0$#$ $,$&5.$# $ =5$%5&5)$)* )* -3$ &(P$ )* %5P-1*#5$. 5,.1$&$)$ ,( +*,1#( )* R*&43 .*
&$,2$# ,( 3*#+$)( )* C(#3$ $)*M-$)$ 0$#$ (%1*#3(. #*.-&1$)(. .$15.C$1I#5(.J
$1#$=4. )* 0#IL&$%(#*J .*3 0#*P-)5+$# ( %(3 C-,+5(,$3*,1( )$ *30#*.$J 0$H$,)(
1()$. $. (%#5H$2S*. * =5.$,)( $ 0(..5%5&5)$)* )* *T0$,./( )( ,*HI+5(A
-
8/19/2019 Empresa Biju
5/34
-
8/19/2019 Empresa Biju
6/34
6
R$&$,2( 0$1#53(,5$&AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAc`DRE...........................................................................................................................................32
9BG9E&$,( )* G*HI+5(.J
)*1*#35,$# * +$01$# (. #*+-#.(. ,*+*..;#5(.J * H*#*,+5$# $ *30#*.$ +#5$)$ ?( M-*
,/( 4 -3 1#$%$&'( C;+5&@A 7 C$&1$ )* 0&$,*P$3*,1( * )* $,;&5.* 1*3 &*=$)( $(
C#$+$..( )* 3-51(. ,*HI+5(.A
G( *,1$,1( ( *30#**,)*)(# ,/( 0()* .(3*,1* 1*# +(3( 3*1$ H$,'$#
)5,'*5#(J 3$. .53 0#*(+-0$# +(3 $ M-$&5)$)* )( 0#()-1(J $ +(,+(##:,+5$J $
M-$&5C5+$2/( )(. .-%(#)5,$)(.J * (-1#(. 51*,. M-* ./( 530(#1$,1*. )*,1#( )* -3$
*30#*.$A
G5,H-43 *.1$%*&*+* -3 ,*HI+5( .* ,/( 1*3 =(,1$)*J $015)/(J +(,'*+53*,1(J
(0(#1-,5)$)*. * #*+-#.(.A 6*0(5. )* 1()(. *..*. +#514#5(.J ( *30#**,)53*,1(+(3*2$# $ C-,+5(,$#J 4 530(#1$,1* M-* ( %(3 *30#**,)*)(# %-.M-* 5,(=$2S*.J
-
8/19/2019 Empresa Biju
7/34
7
0#(+-#* )*1*+1$# C$&'$. * +(3 5..( %-.M-* .(&-2S*.A B 3$5. 530(#1$,1* $5,)$ 4
$+*51$# $. 3-)$,2$.J * ,/( 1*# 3*)( )* 0&$,*P$# 1-)( ,(=$3*,1*A
>$#$ 5..( 4 ,*+*..;#5( 3-,5#L.* )* -3 %(3 0&$,( )* ,*HI+5( M-* $-T5&5* (
+$35,'( $ .*# 1(3$)(J 0$#$ M-* ,( C-1-#( +(,.5H$ =*,+*# 1()$. $. 1-#%-&:,+5$. M-*
( 3*#+$)( 530S*A
-
8/19/2019 Empresa Biju
8/34
8
0*.[1",- $
8T8 A 1[1",- )- &(1")-
7 &$,( )* G*HI+5(. +(3( C*##$3*,1$ C-,)$3*,1$& 0$#$
(#H$,5K$# * 3(,1$# -3$ &(P$ )* %5P-1*#5$.J =(&1$)$ 0$#$ ( 0-%&5+( C*35,5,( )$ +&$..*
3*)5$ * $&1$A
8TB A -6?&1$%-( )- &(1")-
8TBT8 A - JXP\HI J X\E GK]IRP^NOGE
7 530(#1Q,+5$ )* .* C$K*# *..* *.1-)( .*#=* 0$#$ 0#*=*,5# M-* ( #*+-#.(
)*..* *30#**,)53*,1( ,/( .*P$ P(H$)( C(#$J * .53 .*# )*C5,5,)( +&$#$3*,1* (,)*
.* 0#*1*,)* +'*H$#J .* .*- #*,)53*,1( .*#; =5;=*& (- ,/(A ^*,)( $..53J $ 0$#15#
)*..* >&$,( )* G*HI+5( .*#; )*C5,5,)( +&$#$3*,1* (,)* .* 0#*1*,)* +'*H$#J
*.1$%*&*+*,)( 3*1$. * 3*5(. )* +(,+#*15K;L&$A ^*,)( M-* *..* 0&$,( * $ %$.* 0$#$
0&$,*P$# $. )*+5.S*. C-1-#$. * $ .-$ $1-$2/(J $,1*. )* 5,5+5$# M-$&M-*# $15=5)$)**30#*.$#5$&A
8TBTB A - _\J XJ ]RI]`J EFOENaER OIK JXXJ JXP\HI
]=51$# #5.+(. ,( *30#**,)53*,1(J $,$&5.$,)( * )*1*#35,$,)( .*-. $.0*+1(.
*+(,p35+(. * C5,$,+*5#(.J (- .*P$J $ 0$#15+50$2/( )$ *30#*.$ ,( 3*#+$)(
+(30*1515=(J =5$%5&5K$,)( 0(..5%5&5)$)*. )* &-+#(. $-T5&5$,)( 1$3%43 ,$ 1(3$)$ )*)*+5.S*.A
8TBTb A - _\J HJDJRc XJR EFOENaEHI JK PJRKIX HJ OINPRGW\Ga`JX PVONGOEX JMI\
OGJNPGSGOEXT
]=5)*,+5$# M-* $1#$=4. )$. 14+,5+$. +(,1;%*5.J $ 1$T$ )* #*1(#,( )(.
5,=*.153*,1(.J $,$&5.* )* +-.1(. ?>(,1( )* ]M-5&O%#5(J F$#H*3 )* 9(,1#5%-52/(J *1+A@J
-
8/19/2019 Empresa Biju
9/34
9
0()*3(. +(30#(=$# $ =*#$+5)$)* )* -3 %(3J (- 3$- 5,=*.153*,1(J 5.1( *J $
530(#1Q,+5$ )$ $,;&5.* *+(,p35+$ C5,$,+*5#$ *3 M-$&M-*# #$3( )* $15=5)$)*A
8TBT< A )JFGKGPEadI HI &XP\HI
]..* *.1-)( .* #*C*#* '; $0&5+$2/( )* -3 >&$,( )* G*HI+5( 0$#$ =*# $
=5$%5&5)$)* )* .* 3(,1$# -3$ &(P$ )* %5P-1*#5$.J ,( .'(005,H 9*,1*# ?+*,1#( )*
R*&43@A
8TBT9 A -ReENGfEadI HI PREWEFgI
G*..* *.1-)( +(,.1$l
$@ 9$0$ )( 1#$%$&'(
%@ 8(&'$ )* V(.1(
+@ "*#3( )* 70#(=$2/(
)@ V*.-3(*@ ^-3;#5(
C@ 9(,1*t)( 9(,1*T1-$&l 5,1#()-2/(J 0&$,*P$3*,1( 3*1()(&IH5+(.J
C-,)$3*,1$2S*. 1*I#5+$.J C-,)$3*,1$2S*. 1*I#5+$A
H@ 9(,+&-./(
'@ R5%&5(H#$C5$
8Tb A .h6,$0- *,%- * (&' *1$#=$)-
G(..$. %5P-1*#5$. 1:3 +(3( $&=( 0#5,+50$& $15,H5# ( 0t%5+( )$ +&$..* 3*)5$ *
$&1$ )$ +$051$& )( ].1$)(J $1#$=4. )* 3$#r*15,H * 0#(3(2S*.J +(3( )5$ )(.
,$3(#$)(.J 3/*.J ,$1$& * *1+AAA
-
8/19/2019 Empresa Biju
10/34
10
1.4 - JUSTIFICATIVA
A maioria dos administradores de uma empresa não tem conhecimentoadequado para iniciar negócios e conseguir mantê-lo no mercado, por isso faz
necessário optar por um Plano de Negocio que demonstre aos investidores como
atuar para a tomada de decisões, através das técnicas contábeis para obter o
sucesso.
1.5 - METODOLOGIA
]..* *.1-)( .*#; )*.*,=(&=5)( $1#$=4. )* -3 *T*30&( )( >&$,( )* G*HI+5(
0$#$ $%*#1-#$ )* -3$ E(P$ )* %5P-1*#5$. k m0RGXPEF 6Gi\ *OJXXjRGIXnJ ,$ +5)$)* )*
R*&43A >$#$ .-0*#=5.5(,$# ( $,)$3*,1( )*..* 1#$%$&'(J +(,1$#*3(. +(3 $
(#5*,1$2/( )( 0#(C*..(# D*%*# E$=(# F(#*5#$ L 65.+50&5,$ )* 7)35,5.1#$2/(
85,$,+*5#$J %*3 +(3(J 0*.M-5.$. %5%&5(H#;C5+$. ,( $+*#=( )$ $#; * 5,1*#,*1A
-
8/19/2019 Empresa Biju
11/34
11
6$6,$-='*+$*
i
-
8/19/2019 Empresa Biju
12/34
12
.,*#- )& #&=20$-( k6"($#&(( .,*#l
BT8 0INOJGPI HJ .FENI HJ #JejOGIX
B >&$,( )* G*HI+5(. 4 .*3 )t=5)$ 0$#1* C-,)$3*,1$& )( 0#(+*..( )* 1(3$)$
)* )*+5.S*. )* -3$ *30#*.$A ]..* 0&$,( 4 -3 )(+-3*,1( -.$)( 0$#$ )*.+#*=*# (
3()*&( )* ,*HI+5( 0*#C*51( M-* .-.1*,1$ $ *30#*.$J 0#*=*,)( $. .51-$2S*. )* #5.+(J
5.1( 4J -3 +(,P-,1( )* 5,C(#3$2S*. *&$%(#$)$. )* C(#3$ (#H$,5K$)$ *3 M-* ./(
=5.&-3%#$)(. (. $.0*+1(. 530(#1$,1*. 0$#$ -3 %(3 *30#**,)53*,1(A 7 0#5,+50$&
-15&5K$2/( )( >&$,( )* G*HI+5( 4 +(3( -3$ C*##$3*,1$ )* H*.1/( 0$#$ (0&$,*P$3*,1( * )*.*,=(&=53*,1( 5,5+5$& )* -3 0*M-*,( *30#**,)53*,1(A
>()*3(. )5K*# M-* ( >&$,( )* G*HI+5( +(,.-&1$ * (#5*,1$J $5,)$ 3(.1#$ $(
*30#*.;#5( $. 3*1$. $ .*#*3 $&+$,2$)$.A 7..53 +(3( *.1#$14H5$. 1#$2$)$. * (.
#-3(. M-* ( ,*HI+5( )*=* 1(3$# 0$#$ (%1*# -3 3*&'(# )*.*30*,'(A
G-3$ =5./( 3$5. $30&$J $. C-,2S*. )( >&$,( )* G*HI+5(. ./(l
• 7=$&5$# ( ,(=( *30#**,)53*,1( )( 0(,1( )* =5.1$
3*#+$)(&IH5+(J 14+,5+(.J C5,$,+*5#(J P-#O)5+( * (#H$,5K$+5(,$&A
• 7=$&5$# $ *=(&-2/( )( *30#**,)53*,1( $( &(,H( )* .-$
530&$,1$2/(J 0$#$ +$)$ -3 )(. $.0*+1(. )*C5,5)(. ,( >&$,( )*
G*HI+5(.J ( *30#**,)*)(# 0()*#; +(30$#$# ( 0#*=5.1( +(3
#*$&5K$)(A
• 8$+5&51$# $( *30#**,)*)(#J $ (%1*,2/( )* +$051$& )* 1*#+*5#(.
M-$,1( ( .*- +$051$& 0#I0#5( ,/( 4 .-C5+5*,1* 0$#$ +(%#5# (.
5,=*.153*,1(.A
BTBA * $K]IRP^NOGE HJXXJ .FENI
B >&$,( )* G*HI+5(. 0()* .-0#5# $(. H*.1(#*. )$ *30#*.$J -15&5K$,)( )$)(.
530(#1$,1*. ,$ 1(3$)$ )* )*+5.S*.J #*)-K5,)( (. #5.+(. )(. #*+-#.(. 5,=*.15)(.J
-
8/19/2019 Empresa Biju
13/34
13
0$#$ 0(..5%5&51$# -3$ =5.-$&5K$2/( )* 3()( 3$5. $%#$,H*,1* *3 1()$ $ *.1#-1-#$
*+(,p35+$ * C5,$,+*5#$ )( ,*H(+5(A
B >&$,( )* G*HI+5(. 0()* * )*=* .*# -15&5K$)( )-#$,1* 1()$. $. *1$0$. )$
*T5.1:,+5$ )$ *30#*.$ )* 3()( +(,1O,-(J 5,5+5$,)( )*.)* $ $=$&5$2/( )$
(0(#1-,5)$)*J 0&$,*P$3*,1( 5,5+5$&J $=$&5$2/( )$ =5$%5&5)$)* *+(,p35+(LC5,$,+*5#$J
5,O+5( )$. $15=5)$)*. 3*.3( $0I. .-$ +(,.(&5)$2/( ,( 3*#+$)(A 7&43 )( 3$5.J
*..* 0&$,( ,/( 0()*#; .*# )*.+$#1$)(J 0(5. 1#$1$L.* )( +5+&( )* =5)$ )$ *30#*.$J
M-* 0(# .-$ =*K )*=* *.1$# *3 +(,.1$,1* #*=5./( * $1-$&5K$2/( +$35,'$,)( P-,1( $(
>&$,( )* G*HI+5(.A
BTb A -WiJPGDIX HI .FENI HJ #JejOGIX
B >&$,( )* G*HI+5(. 4 -3 )(+-3*,1( *.+#51( M-* 1*3 ( (%P*15=( )* *.1#-1-#$#
$. 0#5,+50$5. 5)45$. * (02S*. M-* ( *30#**,)*)(# $,$&5.$#; 0$#$ )*+5)5# M-$,1( ;
=5$%5&5)$)* )$ *30#*.$ $ .*# +#5$)$A 6*..$ C(#3$J 4 -15&5K$)( +(3( .(&5+51$2/( )*
*30#4.153( * C5,$,+5$3*,1( P-,1( $ 5,.151-52S*. C5,$,+*5#$.J %*3 +(3( 0$#$
*T0$,./( )* .-$ *30#*.$A
B >&$,( )* G*HI+5(. +(.1-3$ .*# -15&5K$)( +(3 1#:. (%P*15=(. %;.5+(.l 0$#$
+$01$2/( )* #*+-#.(.J +(3( C*##$3*,1$ )* H*.1/( * 0;#$ 3*)52/( )* #*.-&1$)(.l
• .FENI HJ #JejOGI ]ERE OE]PEadI HJ RJO\RXIX>
B >&$,( )* G*HI+5(. 4 *&$%(#$)( 0#5,+50$&3*,1*J +(3( C*##$3*,1$ +$01$)(#$
)* #*+-#.(.A >(#43J )*=*L.* &*=$# *3 +(,.5)*#$2/( M-* $( .*# -15&5K$)(J $15,H* -3
*,C(M-*J (,)*J (C*#*+* (-1#(. %*,*CO+5(. M-* =/( $&43 )$ 0(..5%5&5)$)* )* +$01$##*+-#.(.A 6*=*L.* *,C$15K$# ( M-* )5K #*.0*51( ;. 5,C(#3$2S*. C5,$,+*5#$. )(
*30#**,)53*,1(A >(#1$,1(J $. 5,C(#3$2S*. C5,$,+*5#$. )*=*3 .*# *T0#*..$. )*
3$,*5#$ +&$#$ * (%P*15=$ ,$ C(#3$ )* 0#(P*2S*. #*$&5.1$.J )$,)( (#5H*3 y. 3*1$.
0(..O=*5. )* .*#*3 $&+$,2$)$.J +(3( +(,.*MN:,+5$ )*3(,.1#$,)( +$0$+5)$)* )*
'(,#$# ( C5,$,+5$3*,1( 0#*1*,)5)(A
• .FENI HJ #JejOGI OIKI SJRREKJNPE HJ eJXPdI
]..$ 4 $ 0*2$ C-,)$3*,1$& 0$#$ ( 0&$,*P$3*,1( *.1#$14H5+( *30#*.$#5$& *
0$#$ $ .-$ 0#I0#5$ .(%#*=5=:,+5$J 0(5. $1#$=4. )*&* 0()*L.* $=$&5$# -3$
-
8/19/2019 Empresa Biju
14/34
14
(0(#1-,5)$)* $ .*# *T0&(#$)$l ( 3*#+$)( * +(,+(##:,+5$J )*C5,5,)( *.1#$14H5$. 0$#$
$ *30#*.$J )*1*#35,$,)( M-$,15)$)* )* #*+-#.(. ,*+*..;#5(. * $ +$0$+5)$)* )*
H*#$# #*+*51$. * +#*.+*#J *,1#* (-1#$.A
• .FENI HJ #JejOGIX OIKI GNXPR\KJNPI HJ KJHGadI HJ RJX\FPEHIX
F(.1#$L.* %$.1$,1* t15&J *3 =5#1-)* )* .-$. 5,C(#3$2S*. 0()*#*3 .*#=5# )*
%$.* 0$#$ +(30$#$2S*. )* #*.-&1$)(. *3 0*#O()(. )5C*#*,1*.J 0()*,)( .*# -15&5K$)(
0$#$ =*#5C5+$# .* (. (%P*15=(. * 3*1$. )$. *30#*.$. C(#$3 $&+$,2$)(. +(,C(#3* (
0&$,*P$3*,1(J $)*M-$,)(L.* +(,C(#3* (. #*.-&1$)(. * $. ,(=$. 0#(P*2S*.
$P-.1$)$.A
BT< A &XPR\P\RE HI .FENI HJ #JejOGIX
G/( *T5.1* -3$ *.1#-1-#$ #OH5)$J -3$ *.0*+OC5+$ 0$#$ 0#*.+#*=*# ( >&$,( )*
G*HI+5(.A 7&*3 )* 1-)(J +$)$ ,*HI+5( 1*3 0$#15+-&$#5)$)* * .*3*&'$,2$J .*,)(
530(..O=*& )*C5,5# -3 t,5+( 3()*&(J -3 0$)#/( )* >&$,( )* G*HI+5(J .*P$ -,5=*#.$&
* $0&5+$)( $ M-$&M-*# ,*HI+5(J )*..$ C(#3$ $ *.1#-1-#$ )$ *30#*.$ $,$&5.$)$ ,*..*
*30#**,)53*,1( * $ .*H-5,1*l• ^-3;#5( ]T*+-15=(
• V*.-3( )$ *30#*.$
• 6*.+#52/( )(. 0#()-1(.
• 7,$&5.* )* F*#+$)(
• >&$,*P$3*,1(. 85,$,+*5#(.
• 7,;&5.* ]+(,p35+$ )( ]30#**,)53*,1(
0*.[1",- $$$
&(1'"1"'* )- #&=20$-
,-?* )& 6$?"1&'$*(
0'$(1*, 6$?" *0&((-'$-(
-
8/19/2019 Empresa Biju
15/34
15
bT8 (\KcRGI
]..* >&$,( )* G*HI+5(. C(5 *&$%(#$)( 0$#$ $0#*.*,1$2/( )* *.1-)(. *
$,;&5.* )$ 3(,1$H*3 )* -3$ &(P$ )* %5P-1*#5$.J +-P$ #$K/( .(+5$& * 9#5.1$& R5P-
7+*..I#5(.A #(+-#$3(. .*30#*
3$,1*# ( +(30#(35..( )* -3 %(3 #*&$+5(,$3*,1(J +(3 ,(..(. +(&$%(#$)(#*.A
-
8/19/2019 Empresa Biju
16/34
16
G(..$ &(P$ $1-$#; ,( #$3( )* =*,)$. )* %5P-1*#5$. 0$#$ $1#$5# ( 0-%&5+(
C*35,5,(J -15&5K$,)( .*-. $#15CO+5(. )* $+*..I#5(. &-T-(.(.J +(,C*++5(,$)(.
)5#*1$3*,1* )$ &(P$J )*.*,'$)(. 0(# ,(..$ *.15&5.1$ C$3(.$ k 95%*&&* F*&(A
b5.$3(. .*30#* $1*,)*# ,(..$ +&5*,1*&$ )* 34)5( * $&1( 0()*# $M-5.515=( )$
#*H5/( 0$#$*,.*J 3$. 0#*+5.$3*,1* ,( +*,1#( )( *.1$)(J R*&43J *,C$15K$,)(
.*30#* 0#()-1(. +(3 0#*2(. $( ,O=*& )( ,(..( +(,.-35)(# * 3*#+$)(#5$. )* %($
M-$&5)$)*J )*##-%$,)( $ +(,+(##:,+5$ ,*..* #$3(A
G(..$. %5P-1*#5$. ./( C$%#5+$)$. )* $+(#)( +(3 $. 1*,):,+5$. )$ 3()$J
=$#5$,)( .*30#* $ +$)$ *.1$2/( )( $,(J +(3( 0(# *T*30&(l =*#/( -15&5K$3(. 0*2$.
3$5(#*. * +(#*. 3$5. C(#1*. * =$#5$)$.x P; ,( 5,=*#,( -15&5K$3(. +(#*. +&$#$. * 0*2$.
3$5. &*=*.A
bTBTB ,IOEFGfEadI
B *30#**,)53*,1( .*#; 5,.1$&$)( *3 -3$ 0*M-*,$ &(P$ ,( +*,1#( )$ +5)$)*
)* R*&43J *.1$)( )( >$#;J 3$. 0#*+5.$3*,1* ,( .'(005,H 9*,1*# UH-$1*35A 7 ;#*$ 4
%($ 0$#$ ( ,*HI+5( 1*3 H#$,)* 3(=53*,1$2/( )( 0t%&5+( $&=( $ .*# $15,H5)(A b$&*
#*..$&1$# 1$3%43 M-* .* 1#$1$ )* -3$ ;#*$ ,(%#*J )$,)( :,C$.* $ -3 *T+*&*,1*
$3%5*,1* 0$#$ .* 3(,1$# -3$ &(P$ )*..* ,O=*& * (%1*# 3*&'(#*. #*,)53*,1(.A
bTBTb &XPR\P\RE -ReENGfEOGINEF ,JeEF
65K #*.0*51( y. 0#(=5):,+5$. $ .*#*3 1(3$)$. M-$,1( )$ $%*#1-#$ )(
*30#**,)53*,1(l
• V*H5.1#( * $#M-5=$3*,1( )( $1( +(,.151-15=( ,$ a-,1$ 9(3*#+5$& )(
].1$)(
• V*H5.1#( ,$ ̂ *+#*1$#5$ )$ 8$K*,)$ )( 9G>aJ ( M-$& .I 0()*#; .*# C*51(
3*)5$,1* ( 0#**,+'53*,1( )* 6R]J M-* *T5H* ( ,zA GUV]A 6$ *30#*.$
-
8/19/2019 Empresa Biju
17/34
17
• V*H5.1#( ,$ 8$K*,)$ ].1$)-$&J 0$#$ (%1*# U,.+#52/( ].1$)-$& *
.(&5+51$2/( )( *,M-$)#$3*,1( ,( U9F^L^UF>E]^A
• V*H5.1#( ,$ 0#*C*51-#$ 0$#$ .(&5+51$# 5,C(#3$2S*. .(%#* $. 5,.1$&$2S*.
CO.5+$. * 7Eb7VsA
• V*H5.1#( ,( UG^^A
7 G$1-#*K$ a-#O)5+$ )$ *,15)$)* (#H$,5K$+5(,$& .*#; )* -3$ 0*M-*,$
*30#*.$J (- .*P$J -3$ &(P$ M-* 1*3 $1(. +(,.151-15=(. $#M-5=$)(. ,$ a-,1$
9(3*#+5$& )( ].1$)( )( >$#;J .*,)( +(,.151-O)$ 0(# 9$#&(. 7&%*#1( F(#*5#$ * 1*#;
+(3( #*.0(,.$%5&5)$)* #*.1#51$ $( =$&(# )* .-$. +(1$.J * #*.0(,)*#; .(&5)$#5$3*,1*
0*&$ 5,1*H#$&5K$2/( )( +$051$& M-* .*#; +(,.151-O)(A
bTb A )JXORGadI HIX .RIH\PIX
7 M-$&5)$)* * =$#5*)$)* )* 0#()-1(. ./( -3 )(. C$1(#*. 0#*)(35,$,1*. 0$#$+'$3$# $ $1*,2/( )(. +&5*,1*.J 0(# 5..( $ 9VU^"7E RUa< 79]^^BVUB^J )5.0S* )*
-3$ =$#5*)$)* )* 0*2$. +(,C*++5(,$)$. )* $+(#)( +(3 +$)$ *.1$2/( )( $,(J 1$5.
+(3(l =*#/( -15&5K$3(. 0*2$. 3$5(#*. * +(#*. 3$5. C(#1*. * =$#5$)$.x P; ,( 5,=*#,(
-15&5K$3(. +(#*. +&$#$. * 0*2$. 3$5. &*=*.A 8*51$. +(3 3$1*#5$& 530(#1$)(. *
)*.*,'$)(. 0*&$ *.15&5.1$ 0#I0#5$ )$ &(P$A
bTbT8 A 0INOIRRmNOGE
7 =*,)$ )* %5P-1*#5$. 4 -3 3*#+$)( ,/( 3-51( +(30*1515=(J 1#$1$L.* )* -3
0#()-1( )* $+*..I#5(. 530(#1$,1*. 0$#$ ( 0-%&5+( C*35,5,(J 1*3 -3 +-.1( %$5T( *
0#*2(. #$K(;=*5. $ +&$..* M-* )*.*P$3(. $15,H5#A E*=$3(. =$,1$H*3 .(%#* $&H-,.
+(,+(##*,1*. 0(# 0(..-5#3(. ,(..$ +(,C*+2/( )*,1#( )$ 0#I0#5$ &(P$ * (C*#*+*#3(.
0#(3(2S*.J *T+*&*,1* M-$&5)$)* * $1*,)53*,1( 0#*C*#*,+5$& $ ,(..(. +&5*,1*.A
-
8/19/2019 Empresa Biju
18/34
18
bTbTB #JOJXXGHEHJX HI 4JROEHI
b5.$,)( ( .-+*..( )* ,(..$ *30#*.$ m9#5.1$& R5P- * 7+*..I#5(.nA
70I. -3$ 0*.M-5.$ )* $,;&5.* #*$&5K$)$ ,( 3*#+$)(J +(,.1$1(-L.* $
,*+*..5)$)* )$ 0#(+-#$ )* R5P-1*#5$. 0$#$ 3-&'*#*. )$ $&1$ .(+5*)$)*J 0(5.
$-3*,1(- $ )*3$,)$ )*..*. 0#()-1(. )* *T+*&*,1* M-$&5)$)*J * M-* =5*..* $1*,)*#
3-&'*#*. )* 1()$. $. 5)$)*.J (- .*P$J +(,.-35)(#$. 3$5. *T5H*,1*.A
bT< *NcFGXJ HJ 4JROEHI
-
8/19/2019 Empresa Biju
19/34
19
bT
-
8/19/2019 Empresa Biju
20/34
20
-
8/19/2019 Empresa Biju
21/34
21
-
8/19/2019 Empresa Biju
22/34
22
bTCT8T8 0E]GPEF HJ =GRI
].1$ ,*+*..5)$)* )* 9$051$& )* i5#( #*0#*.*,1$ *3 3(,1$,1* ( +5+&(
C5,$,+*5#(A B C-1-#( *30#*.;#5( 1*#; M-* 0(..-5# #*+-#.(. 0$#$ +(%#5# $. )*.0*.$.
+(3 #*H5.1#( &*H$&5K$2/( )$ *30#*.$A
G( +$.( *.0*+5C5+( )( ,(..( *30#**,)53*,1( ( +$051$& )* H5#( .*#; *3 1(#,(
)* V{ ce`Jg\A
bTCT8TB =EXPIX .RVAI]JREOGINEGX
bTCTB 0\XPIX J )JX]JXEX +GQEX
B. +-.1(. * )*.0*.$. C5T$. 5,5+5$)$. C(#$3l
bTCTb A 0\XPIX +GQIX
B. +-.1(. C5T(. ./( $M-*&*. 5,)*0*,)*,1*. )( #$3( )* $1-$2/( )$ *30#*.$J
,/( .(C#*3 =$#5$2/( *3 C-,2/( )* .*- C$1-#$3*,1( (- 0#()-2/(A |-$,1( 3$5(# (
=(&-3* )* C$1-#$3*,1(d=*,)$.J 3*,(# 0#(0(#+5(,$&3*,1* .*#; *..*. +-.1(.A
-
8/19/2019 Empresa Biju
23/34
23
bTCTBTB A )JX]JXEX +GQEX
bTCTBTb 0\XPIX %ERGcDJGX
^/( (. +-.1(. M-* 1*3 .*- =$&(# )*1*#35,$)( *3 C-,2/( )* (.+5&$2S*. ,$
$15=5)$)* )$ *30#*.$J =$#5$3 *3 0#(0(#2/( )5#*1$ +(3 ( =(&-3* )$ $15=5)$)*A
G( +$.( )$ *30#*.$ *3 *.1-)(J ( =(&-3* )* $15=5)$)* 4 $. =*,)$. *
0#()-2/(A >(# 5..( )*,1#( )* -3$ 0*#.0*+15=$ )* (0*#$+5(,$&5K$2/( )$ *30#*.$
C(#$3 +(,.5)*#$)$. $. *3%$&$H*,.J ( +-.1( )* $M-5.52/( )$. 3$14#5$.L0#53$. *,1#*
(-1#(.A
-
8/19/2019 Empresa Biju
24/34
24
bTCTb A 6EFENaI .EPRGKINGEF GNGOGEF
B R$&$,2( >$1#53(,5$& 4 $ )*,(35,$2/( C5,$,+*5#$ M-* *=5):,+5$
#*.-35)$3*,1* $ .51-$2/( )( 0$1#53p,5( )$ *,15)$)*J M-$&51$15=$3*,1*A
G( R$&$,2( >$1#53(,5$& $. +(,1$. ./( +&$..5C5+$)$. )* $+(#)( +(3 (
0$1#53p,5( )$. *,15)$)*.J )5=5)5)$. *3 715=(J >$..5=( * >$1#53p,5( E5M-5)(A ]..$
)5=5./( =5.$ C$+5&51$# ( +(,'*+53*,1( * $ $,;&5.* )$ .51-$2/( C5,$,+*5#$ )$
+(30$,'5$A
B R$&$,2( >$1#53(,5$& 5,5+5$& C(5 0#(P*1$)( $ 0$#15# )( 0&$,( )* 5,=*.153*,1(J
(,)* C(5 (#2$)$J $ 0#*2( )* 3*#+$)(J $ 3$14#5$L0#53$ 0$#$ *&$%(#$# (. 0#()-1(.J
+(3( 1$3%43J (. 3I=*5. * -1*,.O&5(. * $. )*.0*.$. )* (#H$,5K$2/( ,*+*..;#5$.
0$#$ *.1#-1-#$# ( 5,5+5( )( *30#**,)53*,1(A
-
8/19/2019 Empresa Biju
25/34
25
bTCT< .RIiJadI HI +F\QI HJ 0EGQE
} ( 150( )* )*3(,.1#$2/( M-* =5.$ #*&$1$# ( C&-T( )* *,1#$)$ )* +$5T$ M-*
+(##*.0(,)* $ *,+$5T*. )* )5,'*5#( * )* .$O)$ )* +$5T$ M-* ./( (. )*.*3%(&.(. )*
#*+-#.(. C5,$,+*5#(. )* -3 ,*HI+5( *3 -3 )*1*#35,$)( 0*#O()( )* 1*30(J 1*,)(
+(3( (%P*15=( +'*H$# $( .$&)( &5M-5)( )* +$5T$A ].1$ C*##$3*,1$ 0()* .*# -15&5K$)$
0(# 0*..($. ,-3 3()*&( 3$5. .530&*.J 0(# $0#*.*,1$# -3 ,t3*#( 3*,(# )* 51*,. $
+(,1#(&$# *30#*.$. M-* -15&5K$ 3*5(. 3$5. +(30&*T(. )*=5)( .*- ,t3*#( 3$5(# )*
51*,.A
^*H-,)( ,(..(. +;&+-&(. $ 9#5.1$& R5P- 7+*..I#5(. &(H( ,( 0#53*5#( $,( )*
$15=5)$)* )$ *30#*.$J +(,.5)*#(-L.* $ 0#(P*2/( )* +$5T$ -3 $+#4.+53( )* [\~ $(
$,( ,( =(&-3* )* =*,)$. * 1$3%43 -3 Ui>6ULZ,)5+* H*#$& )* 0#*2( $+-3-&$)( *3
[J[Y~ ,( 0#53*5#( $,( )* (0*#$2/( )$ *30#*.$J 0$#$ +(##5H5# (. +-.1(. * )*.0*.$.
=$#5;=*5. )$ 0#*.1$2/( )( .*#=52( $ +$)$ $,(A
-
8/19/2019 Empresa Biju
26/34
26
-
8/19/2019 Empresa Biju
27/34
27
bTCT9 A .INPI HJ &_\GFnWRGI
B >(,1( )* ]M-5&O%#5( 4 -3$ C*##$3*,1$ )* H#$,)* -15&5)$)* 0$#$ H*.1/( )*
-3 *30#**,)53*,1(J 0(5. $1#$=4. )*&* ( H*.1(# 0()* 0*#+*%*# ( 3(3*,1( *T$1(M-* ( ,*HI+5( 0$..$ $ )$# &-+#(A G$.+*,)( )$ +(,P-,2/( )(. +-.1(. 1(1$5. +(3 $.
#*+*51$. 1(1$5.A } ( 0(,1( ,( M-$& ,/( '; &-+#( ,*3 0#*P-OK(J * 0()* .*# )*C5,5)$
1$,1( *3 -,5)$)* 0#()-K5)$.J =*,)$ M-$,1( *3 #*$5.A
bTCTC 4EReJK HJ 0INPRGW\GadI
7 F$#H*3 )* 9(,1#5%-52/( 0(# -,5)$)* 4 $ )5C*#*,2$ *,1#* $ #*+*51$ *
+-.1( =$#5;=*& )* +$)$ 0#()-1(J 4 ( =$&(# M-* +$)$ -,5)$)* *C*15=$3*,1* 1#$K
; *30#*.$ )* .(%#$ *,1#* $ #*+*51$ * ( +-.1( M-* )* C$1( *.1* 0#()-1(
0#(=(+(- * &'* 0()* .*# 530-1$)( .*3 *##(A
7 *30#*.$ *3 M-*.1/( +$&+-&(- $ 3$#H*3 )* +(,1#5%-52/( 0$#$ +$)$
0#()-1(J =*#5C5+$,)( M-* +$)$ 51*3 =*,)5)( %$.*$)( ,$ 34)5$ )* 0#*2(
$0&5+$)$ 0*&$ *30#*.$ +(,1#5%-5- 0$#$ ( &-+#( &5M-5)( *3 34)5$ )* Yo~A
-
8/19/2019 Empresa Biju
28/34
28
bTCTo *NcFGXJ &OINpKGOE HI &K]RJJNHGKJNPI
bTCT:T8 %EFIR .RJXJNPJ ,G_\GHI
B b$&(# >#*.*,1* E5M-5)( ?b>E@ (- G*1 >#*.*,1 b$&-* ?G>b@ 4 -3$ )$.
C*##$3*,1$. 3$5. *C5+$K*. * 3$5. -.$)$. 0$#$ $=$&5$# 5,=*.153*,1(. )* +$051$&A
^*H-,)( R7Gi^ ?`\\\@J )*C5,* ( b>E +(3( mV*C&*1* $ #5M-*K$ *3 =$&(#*.
3(,*1;#5(. )( 5,=*.153*,1( 3*)5)$ 0*&$ )5C*#*,2$ *,1#* ( =$&(# 0#*.*,1* )$.
*,1#$)$. )* +$5T$ * =$&(# 0#*.*,1* )$. .$O)$. )* +$5T$J $ -3$ )*1*#35,$)$ 1$T$ )*
)*.+(,1(nA
8$K*,)( -3$ $,;&5.* +&$#$ )*.1$ C*##$3*,1$J +'*H$L.* $ +(,+&-./( )* M-*
M-$,)( ( b>E C(# 3$5(# (- 5H-$& $ K*#(J )*,1#( )( 0*#O()( $,$&5.$)(J M-*# )5K*# M-*
)*0(5. )* )*=(&=*# $(. 5,=*.15)(#*. .*- +$051$& $0&5+$)( ,( ,*HI+5(J $1-$&5K$)( $
1$T$ +(,.5)*#$)$J #*.1(- *3 +$5T$ $M-*&* 3(,1$,1* M-* 4 P-.1$3*,1* ( b>EJ (-
.*P$J ( b$&(# >#*.*,1* E5M-5)( ,$)$ 3$5. 4 M-* ( =$&(# +#5$)( 0*&$. $15=5)$)*. )(
,*HI+5(A
B b>E 4 #*0#*.*,1$)( 0*&$ .*H-5,1* C(#3-&$l
7 ]30#*.$ 9#5.1$& R5P- 7+*..I#5(. )*3(,.1#$ M-* ( =$&(# )$. *,1#$)$. 4.*30#* 3$5(# M-* ( =$&(# )$. .$O)$. )* +$5T$J (- .*P$J )*0(5. )* )*=(&=*# V{
`gA_g`Jeo )* +$051$& 5,=*.15)(J ( ,*HI+5( +(,.*H-5- #*.1$# *3 +$5T$J )*3(,.1#$,)(
M-* ( *30#**,)53*,1( 4 &-+#$15=(A
%., q+N
k8rGlN A $#%
!"# $ %& ()*+)(,-.
-
8/19/2019 Empresa Biju
29/34
29
bTCT:TB 1EQE $NPJRNE HJ 'JPIRNI k1$'l
} ( 0*#+*,1-$& )* #*1(#,( (%15)( .(%#* ( 5,=*.153*,1( 5,5+5$& )( *30#**,)*)(#
* $5,)$ ,/( #*+-0*#$)(A F$1*3$15+$3*,1*J $ "$T$ )* U,=*.153*,1( )* V*1(#,( 4 $
1$T$ )* P-#(. M-* 1(#,$ ( =$&(# 0#*.*,1* )$. *,1#$)$. )* +$5T$ 5H-$& $( =$&(#
5,=*.15)( 5,5+5$&3*,1* ,( 0#(P*1(A
8$K*,)( -3$ $,;&5.* 3*&'(# )*.1$ C*##$3*,1$J 0()*L.* +(,.5)*#$# -3$ "UV
0*#C*51$ M-$,)( *&$ C(# 3$5(# (- 5H-$& y 1$T$ )* P-#(. =5H*,1* ,( 3*#+$)(J 5.1(
3(.1#$ M-* ( *30#**,)53*,1( 4 =5;=*& * M-* .*- #*1(#,( .*#; 5H-$& (- $+53$ )(
3*#+$)(A
7 "UV 4 #*0#*.*,1$)$ 0*&$ .*H-5,1* CI#3-&$l
1EQE HJ 'JPIRNI 0INPcWGF q+F\QI HJ 0EGQE
$NDJXPGKJNPI
7 "$T$ )* V*1(#,( U,1*#,( )$ *30#*.$ ^*,.-$& E5,H*#5* *3 $,;&5.* C(5 )* _c~J
)*3(,.1#$,)( M-* *.1* *30#**,)53*,1( 4 *+(,(35+$3*,1* =5;=*&J 0(5. 1*3 -3
#*1(#,( $+53$ )( #*1(#,( )( 3*#+$)( M-* *.1; 0#*=5.1( 0$#$ [\~ $( $,(A
bTCT:Tb .JRnIHI HJ .EsWEt I\ 1JK]I H J 'JPIRNI HI $NDJXPGKJNPI
} ( 0#$K( )* 1*30( ,( M-$& ( 5,=*.153*,1( 5,5+5$& .*#; #*+-0*#$)( 0(# 3*5(
)(. C&-T(. )* +$5T$ 0(.515=(. H*#$)( 0*&( ,*HI+5(J * 4 *,+(,1#$)( *,1#* ( =$&(# )(
5,=*.153*,1( * ( C&-T( )* +$5T$ )( 0#(P*1(A
|-$,1( 3$5(# ( 0#$K( )* 0$q%$+rJ 05(# 0$#$ *30#*.$J 0(5. $ 3*.3$
*,+(,1#$#L.*L; 0$..O=*& )* 0*#)$ *,M-$,1( ( .*- 5,=*.153*,1( ,/( #*1(#,$#J 0(5.
*.1$#; *T0(.1$ $(. #5.+(. )( 3*#+$)(A
!"# $ %&'
-
8/19/2019 Empresa Biju
30/34
30
B >$q%$+r 4 #*0#*.*,1$)( 0*&$ .*H-5,1* CI#3-&$l
.EsWEOt q$NDJXPGKJNPI
+F\QI HJ 0EGQE *N\EF
1*6&,* )- %., k%*,-' .'&(& ,$u"$)-l
*#/,$(& )-( '&(",1*)-(
B%.*#=$,)(L.* $. 0#(P*2S*. C*51$. 0$#$ (. +5,+( $,(.J (. 5,)5+$)(#*. )*
#*,1$%5&5)$)* * $ 6*3(,.1#$2/( )( V*.-&1$)( )( ]T*#+O+5(J 0()*L.* +(,+&-5#l
[@ 9$.( $ "$T$ )* V*1(#,( 9(,1;%5& )( U,=*.153*,1( =*,'$ .* +(,C5#3$#
,( )*+(##*# )(. g $,(.J .*#; .-C5+5*,1* 0$#$ #*1(#,$# ( 5,=*.153*,1( $ 0$#15#)( C5,$& )( 0#53*5#( $,( )* C-,+5(,$3*,1( )$ *30#*.$A
`@ B b>E 5,=*.15)( )* V{ fAgccJg[ +(##*.0(,)*#; $ V{ `gA_g`Jeo )-#$,1*
(. +5,+( $,(. +(3 -3$ 1$T$ )*.*P$)$ )* [\~ $( $,(J .5H,5C5+$,)( M-* (
5,=*.153*,1( 4 *+(,(35+$3*,1* $1#$15=(J (- .*P$J ( #*1(#,( (%15)( C(5 3$5(#
M-* ( 0#*=5.1(J 3(.1#$,)( M-* ( *30#**,)53*,1( 1*3 %($. +'$,+*. )*
.-+*..(x
c@ 9$.( $ "UV .*P$ .-0*#5(# $ 1$T$ )* #*1(#,( )*.*P$)$ 0*&(
*30#**,)*)(#J ( 0#(P*1( 1*3 %($. +'$,+*. )* .-+*..(A G*..* +$.(J +(3( $
!"#$ %"&'$()* +"(,-.-$ .' 0-)1-2-3.-$ .'
0-)1- 4561# .' 0-)1-
7-1- .' 8'(#,"#
-# -"#
9-:;-
-
8/19/2019 Empresa Biju
31/34
31
1$T$ 0#*1*,)5)$ 4 )* [\~ * $ "UV 4 )* _c~J ( *30#**,)53*,1( 4
+(,.5)*#;=*& =5;=*&A
6*,*#Y- .*1'$4-#$*, 0-#(-,$)*)-
-
8/19/2019 Empresa Biju
32/34
32
bTCT: A )JKINXPREadI HI 'JX\FPEHI HI &QJROnOGI
7 6*3(,.1#$2/( )( V*.-&1$)( )( ]T*#+O+5(J 1$3%43 +(,'*+5)$ +(3( 6V] 4
( 150( )* )*3(,.1#$2/( C5,$,+*5#$ 0#*=5.1$ 0*&$ &*5 Ye\edoYJ (,)* 0()* =*#5C5+$# (
#*.-&1$)( )$ *30#*.$ ,( )*.*,=(&=53*,1( )* .-$. $15=5)$)*. )-#$,1* -3
)*1*#35,$)( 0*#O()(J 1$& 0*#O()( 4 H*#$&3*,1* 5H-$& $ -3 $,(A ^*H-,)( V5%*5#(
?`\\[J 0AYY@ m7 6*3(,.1#$2/( )( V*.-&1$)( )( ]T*#+O+5( 4 -3 #*&$1I#5( +(,1;%5& M-**=5)*,+5$ $ .51-$2/( *+(,p35+$ )$ *,15)$)*nA
>$#$ *&$%(#$# $ 0#(P*2/( )$ 6*3(,.1#$2/( )( ]T*#+O+5( )$ *30#*.$ ^*,.-$&
E5,H*#5* E1)$A+(,.5)*#$,)(L,(. [`?)(K*@ 0#53*5#(. 3*.*. )* $15=5)$)*J ( 0#*2( )*
=*,)$ )( 0#()-1( C(5 +$&+-&$)( +(3 3$#H*3 )* &-+#( )* eg~ ,( 0#53*5#( $,(A
7 6*3(,.1#$2/( 4 3*,.$& %$.*$)$ *3 -3 =(&-3* *.153$)( )* =*,)$ )* e``
0*2$. 3*,.$5.J P; M-* .* 1#$1$ )* -3$ &(P$ =$#*P5.1$ * $1$+$)5.1$A
-
8/19/2019 Empresa Biju
33/34
33
0-#0,"(Z-
7( 1*#35,( )*..* 1#$%$&'( +(,+&-O3(. M-* $ 9#5.1$& R5P- 7+*..I#5(. 3(.1#(-
.*# -3 5,=*.153*,1( #*,1;=*& 0$#$ .*-. *30#**,)*)(#*.A ]..$ *30#*.$ .*
5)*,15C5+(- +(3 $ 530(#1Q,+5$ )( +(,'*+53*,1( +(,1;%5&J 0#5,+50$&3*,1* +(3 $
#*&*=Q,+5$ )(. +-.1(. )*..* 0&$,(A } ,*..* +(,'*+53*,1( M-* 0(..5%5&51$J $&5$)( $
$,;&5.* )* (-1#(. 5,)5+$)(#*. *T5%5# -3 0$,(#$3$ 3$5. *.0*+5C5+( $. 0*..($. M-*
,*+*..51*3 )* 5,C(#3$2S*. )*..$ ,$1-#*K$ 0$#$ 1(3$)$ )* )*+5./(A 6*=5)( $ *..$
,*+*..5)$)*J 3(.1#$L.* 530#*.+5,)O=*& y $1-$2/( )( 0#(C5..5(,$& +(,1;%5& ,$
*&$%(#$2/( )( >&$,( )* G*HI+5(.A
65$,1* )( *.1-)(J 0(# *T*30&(J +(,C5#3(-L.* y 530(#1Q,+5$ )$ *.+(&'$ )(
#$3( )( ,*HI+5(J $. 0(..5%5&5)$)*. (C*#*+5)$. 0(# *.1*J (- .*P$J +(,'*+*# (
3*#+$)( 0$#$ .$%*# .* '; .-.1*,1$%5&5)$)* )( ,*HI+5(J (- .* 4 .I 3$5. -3 +$.( )*
.$K(,$&5)$)* ,( 3*#+$)(A
b*#5C5+(-L.*J 0(#1$,1(J $ *&$%(#$2/( )( >&$,( )* G*HI+5( )$ =5$%5&5)$)*
*+(,p35+$ )* -3$ &(P$ )* %5P-1*#5$. )( +*,1#( )* R*&43A 9(3 =5.1$ $ 5,)5+$# $(C-1-#( 5,=*.15)(# .* '$=*#; #*1(#,( )( #*+-#.( 5,=*.15)(J $..53 +(3( ( 0#$K(
,*+*..;#5( 0$#$ M-* 5..( (+(##$A
>(#1$,1(J ( +(,1$)(# )*=* *.1$# .*30#* $1-$&5K$)( * %-.+$,)( $0#53(#$#
.*-. +(,'*+53*,1(. ,$ H*.1/( )* M-$&M-*# ,*HI+5(A
-
8/19/2019 Empresa Biju
34/34
34
6$6,$-='/+$*
6U7^J 7,1p,5$ F$#5$ R$15.1$ )* ^(-K$A ].1-)( )$ b5$%5&5)$)* ]+(,p35+$ *
85,$,+*5#$ )* -3$ F5+#(L*30#*.$ ,$ V*H5/( F*1#(0(&51$,$ )* R*&43 ^(%#* $ j15+$
)( >&$,( )* G*HI+5(.A R*&43J P$,A`\\eA 65.0(,O=*& *3
'110lddvvvA0*#51(+(,1$)(#A+(3A%#A
879DUGJ 8-,)$3*,1(. )* F*1()(&(H5$A cu*)A ^/( >$-&(l ])51(#$ ^$#$5=$ `\\[x
F7V"UG^J ]&5.*-A 9(,1$%5&5)$)* )* 9-.1(.A _u*)A ^/( >$-&(l 71&$.J `\\[x
F7"7V7••BJ 6$,1* 9A 7,;&5.* 85,$,+*5#$ )* R$&$,2(.A gu*)A ^/( >$-&(l 71&$.
[ff_x
VUR]UVBJ B.,5 F(-#$A ].1#-1-#$ * 7,;&5.* )* R$&$,2(.A Yu*)A ^/( >$-&(l ^$#$5=$
[fffA