MIRA
INFORM REPORT
|
Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
MAGNIFIQUE
GEMS |
|
|
|
|
Registered Office : |
Schupstraat 1 7
B.15, 2018 Antwerpen Be |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2004 |
|
|
|
|
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 |
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Company name & Address
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 last updated
31
December 2004
Registration number
277170,
ANTWERPEN
Value Added Tax number
BE440793140
Judicial form
Private
company with limited liability
Activities
Wholesale
of miscellaneous intermediate products
Payment experience
To be
monitored („a surveiller“)
Credit opinion
Credit
opinion
Cash situation
(balance sheet analysis) : Good
Profitability
(balance sheet analysis) : Medium
Commitments
(regarding contractual obligations)
: Fulfilled with difficulties
Payment
defaults
: Rare
Total share capital
31
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|