MIRA INFORM REPORT

 

 

Report Date :

30.07.2007

 

IDENTIFICATION DETAILS

 

Name :

PINALDIAM

 

 

Registered Office :

Hoveniersstraat 30 B.208, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

23 October 1992

 

 

Com. Reg. No.:

292463, Antwerpen

 

 

Legal Form :

Private Company with Limited Liability

 

 

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

 

Maximum Credit Limit :

133000 EUR

 

 

Status :

Small Company

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

name & address

 

PINALDIAM

HOVENIERSSTRAAT 30 B.208

2018 ANTWERPEN BE

Tel. Number  + 32-3-2266468

 

 

Business founded

23 October 1992

Business registered

23 October 1992 - Private company with limited liability

Business last updated

31 December 2005

Registration number,

292463, ANTWERPEN,

Value Added Tax number,

BE448377352,

Judicial form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 133000 EUR is advised

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 1

Total share capital31 December 2005

EUR 19000,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

PRAVINBHAI KHENI AJAY    Manager

 

VIPULKUMAR MANJIBHAI PATEL    Manager

Management

MEYNENDONCKX BART FILIP GERARD    Representative and auditor

Auditor

LUYTEN-MEYNENDONCKX & PARTNERS BEDRIJFREVISOREN/REVISEURS D'ENTREPRISE   Auditors´ president

 

 

 

 

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 2005  in  EUR 34.452.000,00

 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 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

14.032.000,-

Total fixed assets

42.000,-

Total tangible fixed assets

40.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

13.990.000,-

Inventories and work in progress (incl. prepayments)

2.214.000,-

Accounts receivable (trade)

11.578.000,-

Cash in hand and at bank

198.000,-

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

14.032.000,-

Total equity (Shareholders' funds)

207.000,-

Issued (subscribed) capital

19.000,-

Legal reserves

1.000,-

Profit or loss carried forward

187.000,-

Total liabilities

13.825.000,-

Total long-term liabilities

24.000,-

Long-term liabilities to credit institutions

24.000,-

Total current liabilities

13.801.000,-

Current accounts payable (trade)

8.086.000,-

Current liabilities to credit institutions

185.000,-

Income and social tax liabilities

3.000,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

34.452.000,-

Main revenue (sales/turnover)

34.452.000,-

Total operating expenses

-34.311.000,-

Cost of materials (type of expenditure format)

34.084.000,-

Cost of goods sold (operational format)

34.311.000,-

Gross profit or loss after cost of materials or after cost of goods sold

141.000,-

Personnel costs

13.000,-

Depreciation

4.000,-

Operating profit or loss

141.000,-

Financial expenses

-59.000,-

Result of ordinary operations

82.000,-

Extraordinary result

82.000,-

Taxes

-26.000,-

Net profit or loss

56.000,-

Borrowing ratio

6678,74 %

Current ratio

101,36 %

Debt gearing

11,59 %

Profit margin.

0,42 %

Quick ratio

85,32 %

Return on assets

1,02 %

Return on equity.

27,05 %

Solidity or equity ratio

1,47 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 19.072.851,00

 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

9.159.158,-

Total fixed assets

2.049,-

Total financial fixed assets

2.049,-

Total Current assets

9.157.109,-

Inventories and work in progress (incl. prepayments)

2.079.201,-

Accounts receivable (trade)

6.858.206,-

Cash in hand and at bank

219.702,-

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

9.159.158,-

Total equity (Shareholders' funds)

151.589,-

Issued (subscribed) capital

18.592,-

Legal reserves

1.859,-

Profit or loss carried forward

131.138,-

Total liabilities

9.007.569,-

Total current liabilities

9.007.569,-

Current accounts payable (trade)

5.927.960,-

Current liabilities to credit institutions

131.894,-

 

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)

19.072.851,-

Cost of goods sold (operational format)

235,-

Gross profit or loss after cost of materials or after cost of goods sold

19.072.616,-

Operating profit or loss

97.868,-

Financial income

376,-

Financial expenses

-24.618,-

Result of ordinary operations

73.626,-

Extraordinary result

73.626,-

Taxes

-27.105,-

Net profit or loss

46.521,-

Borrowing ratio

5942,10 %

Current ratio

101,66 %

Profit margin.

0,51 %

Quick ratio

78,57 %

Return on assets

1,07 %

Return on equity.

30,68 %

Solidity or equity ratio

1,65 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 6.948.155,00

 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

5.982.013,-

Total fixed assets

2.049,-

Total financial fixed assets

2.049,-

Total Current assets

5.979.964,-

Inventories and work in progress (incl. prepayments)

3.774.101,-

Accounts receivable (trade)

1.954.979,-

Investments (short-term)

6.048,-

Cash in hand and at bank

244.836,-

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

5.982.013,-

Total equity (Shareholders' funds)

105.068,-

Issued (subscribed) capital

18.592,-

Legal reserves

1.859,-

Profit or loss carried forward

84.617,-

Total liabilities

5.876.945,-

Total current liabilities

5.876.945,-

Current accounts payable (trade)

2.634.928,-

Current liabilities to credit institutions

41.257,-

 

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)

6.948.155,-

Cost of goods sold (operational format)

2.832,-

Gross profit or loss after cost of materials or after cost of goods sold

6.945.323,-

Depreciation

744,-

Operating profit or loss

52.451,-

Financial income

136,-

Financial expenses

-12.723,-

Result of ordinary operations

39.864,-

Extraordinary result

39.864,-

Taxes

-16.817,-

Net profit or loss

23.047,-

Borrowing ratio

5593,47 %

Current ratio

101,75 %

Profit margin.

0,76 %

Quick ratio

37,53 %

Return on assets

0,89 %

Return on equity.

21,93 %

Solidity or equity ratio

1,75 %

 

 

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