MIRA INFORM REPORT

 

 

Report Date :

13th June, 2006.

 

IDENTIFICATION DETAILS

 

Name :

MAGNIFIQUE GEMS

 

 

Registered Office :

Schupstraat 1- 7, B.15, 2018 Antwerpen Belgium

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2004

 

 

Date of Incorporation :

21.06.1990

 

 

Com. Reg. No.:

277170, ANTWERPEN,

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

23000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

 

Extended Report

 

440793140

MAGNIFIQUE GEMS

 

SCHUPSTRAAT 1 7 B.15

 

2018 ANTWERPEN BE

Tel. Number

+32-3-2336804

Fax number

+32-3-2334450

 

 

 

Business founded

29 May 1990

Business registered

21 June 1990 - Private company with limited liability

Business lastupdated

31 December 2004

Registration number,

277170, ANTWERPEN,

Value Added Tax number,

BE440793140,

Judicial form

Private company with limited lability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

Cash payment advised

Credit opinion

Credit opinion

 

Maximum credit limit 23000 EUR is advised

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Medium 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Total share capital31 December 2004

EUR 18600,00

Branch office(s)

HOVENIERSSTRAAT 2,2018 ANTWERPEN   

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

SHAH VIMESH VIMESH    Manager

Management

SHAH DEEPA VIMESH    Partner

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 4.881.838,00

 

Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 –

31 December 2004  in  EUR 

 

Total assets incl. prepaid expenses and accrued income

2.698.248,-

Total fixed assets

41.132,-

Total tangible fixed assets

37.782,-

Land and buildings

22.001,-

Plant, machinery and equipment

1.392,-

Total financial fixed assets

3.350,-

Total Current assets

2.657.116,-

Inventories and work in progress (incl. prepayments)

675.763,-

Accounts receivable (trade)

1.523.548,-

Cash in hand and at bank

453.530,-

Total accrued income and prepaid expenses

4.275,-

Total equity, provisions, liabilities, accrued expenses and deferred income

2.698.248,-

Total equity (Shareholders' funds)

81.908,-

Issued (subscribed) capital

18.600,-

Profit reserves

61.448,-

Legal reserves

1.860,-

Total liabilities

2.616.340,-

Total current liabilities

2.616.340,-

Current accounts payable (trade)

2.480.873,-

Income and social tax liabilities

72.882,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 -  31 December 2004  in  EUR

 

Main revenue (sales/turnover)

4.881.838,-

Cost of goods sold (operational format)

4.779.440,-

Personnel costs

462,-

Depreciation

9.380,-

Operating profit or loss

102.398,-

Financial income

843.194,-

Financial expenses

-971.867,-

Result of ordinary operations

-26.275,-

Extraordinary income

88.295,-

Extraordinary result

62.020,-

Taxes

-21.196,-

Net profit or loss

40.824,-

Borrowing ratio

3194,24 %

Current ratio

101,55 %

Profit margin.

2,28 %

Quick ratio

75,56 %

Return on assets

38,65 %

Return on equity.

49,84 %

Solidity or equity ratio

3,03 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 2.105.413,00

 Not consolidated profit and loss turnover of the business: 

 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 –

31 December 2003  in  EUR 

 

Total assets incl. prepaid expenses and accrued income

2.433.057,-

Total fixed assets

194.762,-

Total tangible fixed assets

191.462,-

Land and buildings

173.875,-

Plant, machinery and equipment

635,-

Total financial fixed assets

3.300,-

Total Current assets

2.238.295,-

Inventories and work in progress (incl. prepayments)

1.214.511,-

Accounts receivable (trade)

920.271,-

Cash in hand and at bank

101.801,-

Total accrued income and prepaid expenses

1.712,-

Total equity, provisions, liabilities, accrued expenses and deferred income

2.433.057,-

Total equity (Shareholders' funds)

45.884,-

Issued (subscribed) capital

18.592,-

Profit reserves

46.176,-

Legal reserves

1.859,-

Profit or loss carried forward

-8.348,-

Total liabilities

2.387.173,-

Total long-term liabilities

130.094,-

Total current liabilities

2.257.079,-

Current accounts payable (trade)

2.118.998,-

Current liabilities to credit institutions

58.281,-

Income and social tax liabilities

8.054,-

 

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2003  in  EUR 

 

Main revenue (sales/turnover)

2.105.413,-

Cost of goods sold (operational format)

2.465.085,-

Depreciation

9.423,-

Operating profit or loss

-357.645,-

Financial income

1.119.599,-

Financial expenses

-767.225,-

Result of ordinary operations

-5.271,-

Extraordinary income

6.254,-

Extraordinary result

983,-

Taxes

-9.331,-

Net profit or loss

-8.348,-

Borrowing ratio

5202,63 %

Current ratio

99,16 %

Debt gearing

283,53 %

Profit margin.

-16,53 %

Quick ratio

45,28 %

Return on assets

31,70 %

Return on equity.

-18,19 %

Solidity or equity ratio

1,88 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2002 in EUR 3.832.123,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 –

31 December 2002  in  EUR 

 

Total assets incl. prepaid expenses and accrued income

2.284.396,-

Total fixed assets

35.999,-

Total tangible fixed assets

35.999,-

Land and buildings

10.302,-

Plant, machinery and equipment

912,-

Total Current assets

2.248.397,-

Inventories and work in progress (incl. prepayments)

949.286,-

Accounts receivable (trade)

1.259.945,-

Cash in hand and at bank

38.386,-

Total accrued income and prepaid expenses

780,-

Total equity, provisions, liabilities, accrued expenses and deferred income

2.284.396,-

Total equity (Shareholders' funds)

54.232,-

Issued (subscribed) capital

18.592,-

Profit reserves

46.176,-

Legal reserves

1.859,-

Total liabilities

2.230.164,-

Total long-term liabilities

9.410,-

Total current liabilities

2.220.754,-

Current accounts payable (trade)

2.135.231,-

Current liabilities to credit institutions

2.550,-

Income and social tax liabilities

6.341,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2002  in  EUR 

 

Main revenue (sales/turnover)

3.832.123,-

Cost of goods sold (operational format)

4.041.034,-

Depreciation

15.235,-

Operating profit or loss

-208.911,-

Financial income

755.962,-

Financial expenses

-536.467,-

Result of ordinary operations

10.584,-

Extraordinary income

2.782,-

Extraordinary result

13.366,-

Taxes

-4.019,-

Net profit or loss

9.347,-

Borrowing ratio

4112,27 %

Current ratio

101,24 %

Debt gearing

17,35 %

Profit margin.

-5,05 %

Quick ratio

58,46 %

Return on assets

24,73 %

Return on equity.

17,23 %

Solidity or equity ratio

2,37 %

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

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