MIRA INFORM REPORT

 

 

Report Date :

31-07-2007

 

IDENTIFICATION DETAILS

 

Name :

ORSHIL DIAMONDS

 

 

Registered Office :

Hovenierstraat 40, 2018 Antwerpen BE,

 

 

Country :

Belgium

 

 

Date of Incorporation :

02-09-1997

 

 

Com. Reg. No.:

324628

 

 

Legal Form :

Private Company Limited by Shares

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

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

                                                        

ORSHIL DIAMONDS

 

Address

                                                        

HOVENIERSSTRAAT 40

 2018 ANTWERPEN BE

Tel. Number :+32-3-2337302

 

 

Business founded

10 July 1997

Business registered

02 September 1997 - Private company limited by shares

Registration number,

324628, ANTWERPEN,

VAT number,

BE461135624,

Legal form

Private company limited by shares

Activities

Wholesale of miscellaneous intermediate products

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)

  1 2

Total share capital31 December 2005

EUR 63213,00

Bank

DEXIA BANK BELGIUM   

Boardmembers

BAN YAKIR ORI    Deputy boardmember

 

HASTY KAI THOMAS    Boardmember

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

746.693,-

Total fixed assets

317,-

Total financial fixed assets

317,-

Total Current assets

746.376,-

Inventories and work in progress (incl. prepayments)

453.904,-

Accounts receivable (trade)

185.532,-

Cash in hand and at bank

106.940,-

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

746.693,-

Total equity (Shareholders' funds)

-262.975,-

Issued (subscribed) capital

63.213,-

Profit or loss carried forward

-326.188,-

Total liabilities

1.009.668,-

Total current liabilities

1.009.017,-

Current accounts payable (trade)

314.466,-

Total accrued expenses and deferred income

651,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Cost of goods sold (operational format)

853,-

Operating profit or loss

59.775,-

Financial income

24,-

Financial expenses

-34.917,-

Result of ordinary operations

24.882,-

Extraordinary result

24.882,-

Taxes

-3,-

Net profit or loss

24.879,-

Borrowing ratio

-383,94 %

Current ratio

73,92 %

Debt gearing

-0,00 %

Quick ratio

28,98 %

Return on assets

8,00 %

Return on equity.

-9,46 %

Solidity or equity ratio

-35,21 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

779.951,-

Total fixed assets

317,-

Total financial fixed assets

317,-

Total Current assets

779.634,-

Inventories and work in progress (incl. prepayments)

612.313,-

Accounts receivable (trade)

123.429,-

Cash in hand and at bank

43.892,-

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

779.951,-

Total equity (Shareholders' funds)

-287.854,-

Issued (subscribed) capital

63.213,-

Profit or loss carried forward

-351.067,-

Total liabilities

1.067.805,-

Total current liabilities

1.067.217,-

Current accounts payable (trade)

292.880,-

Total accrued expenses and deferred income

588,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Cost of goods sold (operational format)

1.425,-

Depreciation

795,-

Operating profit or loss

78.665,-

Financial income

26,-

Financial expenses

-53.655,-

Result of ordinary operations

25.036,-

Extraordinary result

25.036,-

Taxes

-1,-

Net profit or loss

25.035,-

Borrowing ratio

-370,95 %

Current ratio

73,01 %

Debt gearing

-0,00 %

Quick ratio

15,67 %

Return on assets

10,19 %

Return on equity.

-8,69 %

Solidity or equity ratio

-36,90 %

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 584.741,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

605.684,-

Total fixed assets

1.113,-

Total tangible fixed assets

796,-

Plant, machinery and equipment

239,-

Total financial fixed assets

317,-

Total Current assets

604.571,-

Inventories and work in progress (incl. prepayments)

411.715,-

Accounts receivable (trade)

91.830,-

Cash in hand and at bank

101.026,-

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

605.684,-

Total equity (Shareholders' funds)

-312.889,-

Issued (subscribed) capital

63.213,-

Profit or loss carried forward

-376.102,-

Total liabilities

918.573,-

Total current liabilities

917.751,-

Current accounts payable (trade)

150.972,-

Total accrued expenses and deferred income

822,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Main revenue (sales/turnover)

584.741,-

Cost of goods sold (operational format)

654.412,-

Depreciation

796,-

Operating profit or loss

-69.671,-

Financial income

92.563,-

Financial expenses

-4.591,-

Result of ordinary operations

18.301,-

Extraordinary expenses

-930,-

Extraordinary result

17.371,-

Net profit or loss

17.371,-

Borrowing ratio

-293,58 %

Current ratio

65,81 %

Debt gearing

-0,00 %

Profit margin.

3,44 %

Quick ratio

21,01 %

Return on assets

18,45 %

Return on equity.

-5,55 %

Solidity or equity ratio

-51,65 %

 

 

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