MIRA INFORM REPORT

 

 

Report Date :

31.07.2007

 

IDENTIFICATION DETAILS

 

Name :

ANTWERP COLOURED GEMS

 

 

Registered Office :

Hoveniersstraat 42, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2005

 

 

Date of Incorporation :

15 August 1988

 

 

Com. Reg. No.:

281748

 

 

Legal Form :

Cooperative society with limited liability

 

 

Line of Business :

Manufacture of jewellery and related articles

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

name & address

 

ANTWERP COLOURED GEMS

HOVENIERSSTRAAT 42

2018 ANTWERPEN BE

Tel. Number       +32-3-2332357

Fax number       +32-3-2332357

 

 

Business founded

15 August 1988

Business registered

01 March 1991 - Cooperative society with limited liability

Registration number,

281748, ANTWERPEN,

Alternative tradename(s),

W.W.C.S.,

VAT number,

BE438285392,

Legal form

Cooperative society with limited liability

Activities

Manufacture of jewellery and related articles

Payment experience

To be monitored

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Low 

 

Commitments (regarding contractual obligations) : Fulfilled with difficulties 

 

Payment defaults : Rare 

Employees (Business)

 0

Total share capital30 June 2005

EUR 16113,00

Branch office(s)

HOVENIERSSTRAAT 42,2018 ANTWERPEN   

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Board members

JAIN MAHENDRAKUMAR    Manager

 

AGRAWAL OM PRAKASH    Manager

Management

MALIK VIJAY    Partner

 

DILLIEN GRETA    Partner

 

REMARKS

THE GENERAL MEETING OF 23.12.2004 HAS DECIDED TO START THE LIQUIDATION OF SUBJECT MATTER. THE OPERATIONS HAD ALREADY BEEN DISCONTINUED

 

 

 

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

 

Turnover for the period: 00 0000 - 30 June 2005  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.716.619,-

Total fixed assets

1.775,-

Total tangible fixed assets

1.750,-

Plant, machinery and equipment

1.004,-

Total financial fixed assets

25,-

Total Current assets

1.714.844,-

Inventories and work in progress (incl. prepayments)

858.060,-

Accounts receivable (trade)

772.541,-

Cash in hand and at bank

84.243,-

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

1.716.619,-

Total equity (Shareholders' funds)

37.061,-

Issued (subscribed) capital

18.592,-

Profit reserves

19.901,-

Legal reserves

1.047,-

Total liabilities

1.679.558,-

Total current liabilities

1.505.072,-

Current accounts payable (trade)

1.169.424,-

Current liabilities to credit institutions

334.623,-

Income and social tax liabilities

1.025,-

Total accrued expenses and deferred income

174.486,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2005  in  EUR 

Cost of goods sold (operational format)

3.090,-

Depreciation

690,-

Operating profit or loss

-46.839,-

Financial income

54.754,-

Financial expenses

-4.014,-

Result of ordinary operations

3.901,-

Extraordinary result

3.901,-

Taxes

-1.552,-

Net profit or loss

2.349,-

Borrowing ratio

4531,87 %

Current ratio

102,10 %

Quick ratio

56,92 %

Return on assets

0,50 %

Return on equity.

6,33 %

Solidity or equity ratio

2,15 %

 

Turnover for the period: 00 0000 - 30 June 2004  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.697.344,-

Total fixed assets

645,-

Total tangible fixed assets

620,-

Total financial fixed assets

25,-

Total Current assets

1.696.699,-

Inventories and work in progress (incl. prepayments)

859.244,-

Accounts receivable (trade)

821.989,-

Cash in hand and at bank

15.466,-

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

1.697.344,-

Total equity (Shareholders' funds)

34.712,-

Issued (subscribed) capital

18.592,-

Profit reserves

17.669,-

Legal reserves

930,-

Total liabilities

1.662.632,-

Total current liabilities

1.662.632,-

Current accounts payable (trade)

1.142.976,-

Current liabilities to credit institutions

333.828,-

Income and social tax liabilities

4.399,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2004  in  EUR 

Cost of goods sold (operational format)

27.625,-

Personnel costs

26.084,-

Depreciation

448,-

Operating profit or loss

-254.322,-

Financial income

272.057,-

Financial expenses

-9.202,-

Result of ordinary operations

8.533,-

Extraordinary result

8.533,-

Taxes

-5.328,-

Net profit or loss

3.205,-

Borrowing ratio

4789,79 %

Current ratio

102,04 %

Quick ratio

50,36 %

Return on assets

1,07 %

Return on equity.

9,23 %

Solidity or equity ratio

2,04 %

 

Turnover for the period: 00 0000 - 30 June 2003  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

2.570.049,-

Total fixed assets

424,-

Total tangible fixed assets

424,-

Total Current assets

2.569.625,-

Inventories and work in progress (incl. prepayments)

1.079.464,-

Accounts receivable (trade)

1.450.602,-

Cash in hand and at bank

39.559,-

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

2.570.049,-

Total equity (Shareholders' funds)

31.507,-

Issued (subscribed) capital

18.592,-

Profit reserves

14.624,-

Legal reserves

770,-

Total liabilities

2.538.542,-

Total current liabilities

2.538.542,-

Current accounts payable (trade)

1.931.020,-

Current liabilities to credit institutions

445.788,-

Income and social tax liabilities

3.758,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2003  in  EUR 

Cost of goods sold (operational format)

38.544,-

Personnel costs

35.714,-

Depreciation

287,-

Operating profit or loss

-74.708,-

Financial income

85.267,-

Financial expenses

-2.859,-

Result of ordinary operations

7.700,-

Extraordinary result

7.700,-

Taxes

-3.995,-

Net profit or loss

3.705,-

Borrowing ratio

8057,07 %

Current ratio

101,22 %

Quick ratio

58,70 %

Return on assets

0,42 %

Return on equity.

11,75 %

Solidity or equity ratio

1,22 %

 

 

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

 

 

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%)

 

 

 

 

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