MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
PINK STAR BVBA |
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Registered Office : |
Hoveniersstraat 53 2018 Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
31.01.1991 |
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Line of Business : |
Trade in
diamonds; import/export of polished and unpolished diamonds. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
Pink Star Bvba
Hoveniersstraat 53
2018 ANTWERPEN
Tel. :+31 (0)3-2324922
Fax. :+31 (0)3-2324922
Legal status
--
Founded
31/01/1991 as
BVBA, since 31/01/1991
Trade register
52281507
Capital
Nominal EUR 18.592,--
Issued and paid up EUR 18.592,--
Management
SHAH Sunil N.
Activity
Trade in diamonds; import/export of polished and unpolished diamonds.
Staff
1 employee.
Turnover
Net turnover:
2005 Euro 6.772.398
2004 Euro 5.785.424
2003 Euro 3.960.991
Real estate
The business premises at the mentioned address has been rented by the
company, as far as we know.
Finances
See
balance sheet
Remarks
Net
result:
2005 Euro 32.064
2004 Euro 7.363
2003 Euro 6.991
The shareholders equity was as
of:
31/12/2005 Euro 115.100
31/12/2004 Euro 83.036
31/12/2003 Euro 76.004
The working capital was as of:
31/12/2005 Euro 163.211
31/12/2004 Euro 129.052
31/12/2003 Euro (147.001)
Previous address
Schupstraat 17, 2660 ANTWERP/B
Other bankers:
Antwerpse Diamantbank, acc. no. 640-0611500-55
Banks
Not known
VAT-nr.
BE442820440
Mode of payment
No
complaints have been registered
Credit demand
No objections
against entering into a business relationship.
The following financial data is retrieved from the corporate balance
sheet of :
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2004--- ------31-12-2005---
Intangible assets 0 0
Tangible assets 206.385 177.939
Financial assets 2.293 2.293
Miscellaneous fixed assets
0 0
Total
fixed assets 208.678 180.232
Stock 1.703.295 1.883.384
Receivables 1.207.229 2.280.034
Shares 0 0
Liquid assets 139.852
49.779
Miscellaneous current assets 0 0
Total
current assets 3.050.376 4.213.197
Shareholders
equity 83.036 115.100
Provisions 0 0
Long-term liabilities 254.694 228.343
Current liabilities 2.921.324
4.049.986
Minority interests 0 0
Miscellaneous liabilities
0 0
Total
liabilities 3.259.054 4.393.429
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2004--- ------31-12-2005---
Turnover 5.785.424 6.772.398
Other income 0 0
Total expenses 5.732.527 6.699.550
Operating profit 52.897 72.848
Balance financial P/L -43.034 -31.783
Net profit/loss 1] 9.863 41.065
Taxation 2.500 12.500
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 7.363 28.565
Balance extraordinary P/L 0 3.499
Taxation 0 0
Extraordinary P/L 2] 0 3.499
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 7.363 32.064
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2004----- -----2005-----
EQUITY %
Equity gearing 2,5 2,6
Equity/outside capital 2,6 2,7
LIQUIDITY
Current ratio 1 1
Acid test 0,5 0,6
RATES OF RETURN %
Total assets 0,3 0,9
Shareholders
equity 11,9 35,7
Pre tax margin % 0,2 0,6
Turnover rate 177,5 154,1
(x
1) (x 1)
-------------------- --------------------
Working capital 129.052 163.211
Shareholders
equity + Equalization acc. 83.036 115.100
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RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)