MIRA
INFORM REPORT
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Report Date : |
28.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Meghmani Europe Bvba |
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Registered Office : |
Uitbreidingstraat 84, 2600 Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
28/10/2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The trade in chemical products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by 40 days |
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Litigation : |
Clear |
name & address
Meghmani Europe
Bvba
Uitbreidingstraat
84
2600 ANTWERPEN
Tel.:+32
(0)3-2182147
Legal status
Private limited company
Founded
28/10/2004 as BVBA
Trade register
99763861
Capital
nominal EUR 37.100,--
issued and paid up EUR 24.750,--
Management
MAPARA Ketan. Van Eycklei 51 Bus 3B
Commissioner
BVBA Bedrijfsrevisoren De Lille Grare &
Co, Elisabethlaan 2, 2600 Antwerpen
Activity
The trade in chemical products.
Staff
1 employee.
Turnover
Net turnover:
2005
Euro 2.833.974
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:
2006 Euro 136.871
2005 Euro 185.261
The shareholders equity was as of:
31/12/2006 Euro (297.382)
31/12/2005 Euro (179.061)
The working capital was
as of:
31/12/2006 Euro (320.901)
31/12/2005 Euro (193.257)
Banks
Fortis Bank
VAT-nr.
BE869763861
Mode of payment
On average 40 days beyond terms.
Credit demand
No direct objections against entering into a business relationship.
With regard to the financial situation, we advise you to deal on cash-payment terms only.
The following
financial data is retrieved from the corporate balance sheet of :
Meghmani Europe
Bvba
Uitbreidingstraat
84, 2600 ANTWERPEN
Trade register 99763861
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Meghmani
Europe Bvba *** BALANCE SHEET ***
Corporate
in Euro(x 1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible
assets 0 0
Tangible
assets 16.963 21.701
Financial
assets 7.831 9.081
Miscellaneous
fixed assets 0 0
Total fixed assets 24.794 30.782
Stock 2.013.485 1.501.452
Receivables 1.141.943 1.568.014
Shares 0 0
Liquid
assets 191.739 164.555
Miscellaneous
current assets 0 0
Total current assets 3.347.167 3.234.021
Shareholders equity -179.061 -297.382
Provisions 0 0
Long-term
liabilities 10.598 7.263
Current
liabilities 3.540.424 3.554.922
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 3.371.961 3.264.803
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Meghmani
Europe Bvba *** PROFIT & LOSS ACCOUNT
***
Corporate
in Euro(x 1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 2.833.974 0
Other
income 0 0
Total
expenses 2.919.186 6.448
Operating
profit -85.212 -140.344
Balance
financial P/L -100.042 3.473
Net
profit/loss 1] -185.254 -136.871
Taxation 7 0
Share
in P/L of subsidiaries 0 0
Net
profit/loss 2] -185.261 -136.871
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary
P/L 2] 0 0
Res.
sub. companies 2] 0 0
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 185.261 136.871
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Legend
: 1] = Before tax
2] = After tax
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Meghmani
Europe Bvba *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing -5,3 -9,1
Equity/outside
capital -5 -8,3
LIQUIDITY
Current
ratio 0,9 0,9
Acid
test 0,4 0,5
RATES
OF RETURN %
Total
assets -5,5 -4,2
Shareholders equity 103,5 46
Pre
tax margin % -6,5 0
Turnover
rate 84 0
(x 1) (x 1)
-------------------- -------------------
Working
capital -193.257 -320.901
Shareholders equity + Equalization acc. -179.061 -297.382
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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. |
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%)