MIRA INFORM REPORT

 

 

Report Date :

28.12.2007

 

IDENTIFICATION DETAILS

 

Name :

TINFOS NIZI SA

 

 

Registered Office :

Rue Nicolas Bove 2, 1253 Luxembourg Lu

 

 

Country :

Luxembourg

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

1898

 

 

Com. Reg. No.:

B 69.587

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Agents involved in the sale of fuels, ores, metals and industrial chemicals

Wholesale of metals and metal ores

 

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

 

Maximum Credit Limit :

800000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

name & address

 

TINFOS NIZI SA

RUE NICOLAS BOVE 2

1253 LUXEMBOURG LU

Tel. Number       +352--4422211

Fax number       +352--445268

 

Business founded

00 1898

Registration number,

B 69.587, LUXEMBOURG, LU

VAT number,

LU 179.247.01,

Legal form

Public limited company (no information regarding quotation)

Activities

Agents involved in the sale of fuels, ores, metals and industrial chemicals

 

Wholesale of metals and metal ores

Payment experience

Within agreed terms

Credit opinion

High creditworthiness

 

Business development : Positive 

 

Credit risk estimation : No objections against entering into a business relationship 

 

Maximum credit limit 800000 EUR is advised   (Source is the provider)

 

Order situation : Good 

Employees (Business)

 27   Figure given by business or third party

Total share capital

EUR 2500000

Bank

ABN AMRO BANK N.V., 1000 E AMSTERDAM   

 

FORTIS BANQUE LUXEMBOURG S.A., 1855 LUXEMBOURG   

 

DEXIA - BANQUE INTERNATIONALE LUXEMBOURG S.A., 1470 LUXEMBOURG   

(Part-) Owner

9370028624   TINFOS LUXEMBOURG SA, 1253 LUXEMBOURG, LU   99,99 %   Stockholder

 

9370095108   JASON AS, NO   0,01 %   Stockholder

 

9370012221   MAZARS SA, 2530 LUXEMBOURG, LU   Auditor

 

9370033215   R!OYNESTAD GJERMUND, 8131 BRIDEL, LU   Board of directors

 

9370085103   KARLESKIND JEAN-LUC, LU   Board of directors

 

9370095107   JOHNS NIKOLAI, LU   Board of directors

 

 

 

The business have taken out debentures and /or debenture mortgages?  Unknown (mortgages/Debentures) 

 

The business owns or is part owner of some land/buildings that to the knowledge of the provider are mortgaged?  Unknown (mortgages/Debentures) 

 

The business owns or partly owns one or more pieces of land and buildings?  The business premises are rented 

 

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

Income and social tax liabilities

242.906,-

Current accounts payable (trade)

6.725.865,-

Long-term Loans, Mortgage debts

15.000.000,-

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

127.100.156,-

Total assets incl. prepaid expenses and accrued income

127.100.156,-

Profit or loss for the financial year

1.163.350,-

Profit or loss for the previous year

3.782.910,-

Issued (subscribed) capital

2.500.000,-

Cash in hand and at bank

11.313.746,-

Receivables from affiliates and companies in which participations are held

1.052.868,-

Accounts receivable (trade)

55.865.542,-

Total Current assets

126.759.738,-

Total financial fixed assets

2.504,-

Total tangible fixed assets

234.242,-

Total intangible fixed assets

103.672,-

Total fixed assets

340.418,-

Legal reserves

250.000,-

 

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

Current accounts payable (trade)

6.045.537,-

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

125.723.884,-

Total assets incl. prepaid expenses and accrued income

125.723.884,-

Balance profit or loss (incl. dividends)

4.361.062,-

Profit or loss for the previous year

1.658.215,-

Issued (subscribed) capital

2.500.000,-

Cash in hand and at bank

399.448,-

Receivables from affiliates and companies in which participations are held

1.320.757,-

Accounts receivable (trade)

62.051.326,-

Inventories and work in progress (incl. prepayments)

60.749.805,-

Total Current assets

125.350.548,-

Total financial fixed assets

2.504,-

Total tangible fixed assets

315.842,-

Total intangible fixed assets

54.990,-

Total fixed assets

373.336,-

Legal reserves

139.634,-

 

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

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

63.356.131,-

Total assets incl. prepaid expenses and accrued income

63.356.131,-

Total liabilities

56.785.698,-

Balance profit or loss (incl. dividends)

1.405.543,-

Profit or loss for the previous year

877.949,-

Issued (subscribed) capital

2.500.000,-

Cash in hand and at bank

88.351,-

Receivables from affiliates and companies in which participations are held

2.948.932,-

Accounts receivable (trade)

27.683.324,-

Inventories and work in progress (incl. prepayments)

32.068.016,-

Total financial fixed assets

2.504,-

Total tangible fixed assets

217.223,-

Legal reserves

69.357,-

 

Turnover for the year: 2005  in  EUR 421.217.984,00

 Not consolidated turnover: Figure given by business or third party: 

 

Turnover for the year: 2004  in  EUR 390.698.907,00

 Not consolidated turnover: Figure given by business or third party: 

 

Turnover for the year: 2003  in  EUR 168.461.536,00

 Not consolidated turnover: Figure given by business or third party: 

 

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.

 

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