MIRA INFORM REPORT

 

 

Report Date :

15th February, 2007

 

IDENTIFICATION DETAILS

 

Name :

HSH CHEMIE SRL

 

 

Registered Office :

B‑DUL DIMITRIE RACOVITA Nr. 19 Ap. 1 Si 2 Sector 2, Bucuresti, Romania

 

 

Country :

Romania

 

 

Financials (as on) :

2005

 

 

Date of Incorporation :

20.12.2000

 

 

Com. Reg. No.:

J40/11795/2000

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of chemical products.

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Company Name

 

HSH CHEMIE SRL

 

 

Registration Briefing

 

Registration Number       : J40/11795/2000

Registration Date           : 20/12/2000

Legal Form                    : PRIVATE LIMITED CO

Latest Financials           : N/A

 

 

Financial Briefing

 

Nominal Capital             : 7,413,000,000 Romanian Lei

Issued Capital                : 7,413,000,000 Romanian Lei

Turnover                        : 2,142,099 Euros

Net Profit                       : 28,425 Euros

 

 

Rating Briefing

 

Current Rating                           : Ba

Former Rating                            : N/A

Current Recommended Credit     : 40,000 Euros

Former Recommended Credit      : N/A

Rating Trend                              : POSITIVE

Payment Record                        : UNDETERMINED

 

 

Company Details

 

Company Name : HSH CHEMIE SRL

Headquarter Address      : B‑DUL DIMITRIE RACOVITA nr. 19 ap. 1 si 2 sector 2, BUCURESTI,

  Romania

Telephone                     : +40 213137778

Fax                               : +40 213157864

 

Company was originally started on 2000

 

 

Registration & Legal Details

 

Current Legal Form                                : PRIVATE LIMITED CO

Registration Number                               : J40/11795/2000

Registration Date                                   : 20/12/2000

Year/Date Company Established : 2000

Registration Town                                  : BUCURESTI SECTORUL 2

Tax Registration Number                        : 13610671

 

Date of Last Annual Return:     18/10/2006

 

 

Capital

 

Currency                       : Romanian Lei

Nominal Capital             : 7,413,000,000

Issued Capital                : 7,413,000,000

Paid Up Capital              : All

 

 

Nominal Capital Breakdown

 

Number of Shares          : 74,130            Type of Shares              : ordinary

 

Issued Shares               : 74,130            Value per share             : LEI 100,000.00

Value of this type           : 7,413,000,000.00

 

 

Shareholders

 

Shareholders:

 

Name/Address                                                 Shares Held     % of Voting/Non‑Voting capital

OANA GRIGORESCU,                                       7,398                            9.98% (VOTING)

Str. INTR. RECONSTRUCTIEI nr. 10 bloc

29 sc. 2 ap. 57 sector 3,

BUCURESTI,

Romania

 

HSH CHEMIE GMBH,                                        33,366                          45.01% (VOTING)

Str. BALLINDAMM nr. 1,

HAMBURG,

Germany

 

VOSTRADE LUTZOW HANDELS GMBH,            33,366                          45.01% (VOTING)

13 BIRAGHIGASSE nr. 39/3,

VIENA,

Austria

 

 

Principals

 

Name                                        : Ms OANA GRIGORESCU

Position within the company       : Administrator

Additional Information                 : Personal numerical code :2761216433011

Address                                    : Intr. RECONSTRUCTIEI,nr. 10,bloc 29,sc. 2,etaj 3,ap. 57,BUCURESTI

                                                  SECTOR 3

Date of Birth                              : 16/12/1976

Town of Birth                             : BUCURESTI

Country of Birth                          : Romania

Nationality                                 : Romanian

 

 

Company Activities

 

Declared objects of activity:

main:

Wholesale of chemical products

 

HSH Chemie S.R.L. is an Austrian – German company. The company was founded in 2000 in Bucharest but the activity started on January 2004.

 

The company has five departments:

‑           Coatings/Adhesives

‑           Cosmetics/Personal Care

‑           Food/Pharma

‑           Household Chemicals

‑           Plastics/Rubber.

 

HSH Chemie S.R.L. is a member of the HSH Chemical Distribution Group of companies.

 

 

Operations

 

Employees       Company Employs: 10 (at the end of 2006)

 

HQ Premises    Operates from:   Owned Offices , Warehouse

Location:           Central Business Area

 

Branches         WORKING SITE,

B‑dul IULIU MANIU NR. 598 D‑600 A,

BUCURESTI SECTORUL 6,

Romania

 

 

Imports

 

Import % and type of product:     80% Raw Materials

Imports From:    France, Germany

 

 

Exports

 

Export % and type of product:     3%

Exports To:       Bulgaria, Poland, Hungary

 

 

Trading & Selling

 

Territory:                       97% Nationally, 3% International

Type of Customer:          Group Companies

 

 

Related Companies

 

Affiliates

 

WEBER & PARTNERS CONSULT

SRL

Str. Reconstructiei 10,

BUCURESTI,

Romania

Start Date: 2003

Related through             : a common shareholder

Other information           : Reg. No: J40/3640/2003

 

 

Bankers

 

--

 

 

Financial Information

 

Figures are:       Official Figures

Currency:          Euros

 

Months             Sales Figures               Sales               Gross Profit/Loss          Net Profit/Loss

12                     31/12/2005                   2,142,099.00                                         28,425

12                     31/12/2004                   1,903,571.00                                         110,018

 

 

Payments

 

Subject's payments reported to be:          UNDETERMINED

 

 

Interview & Reporter Comments

 

Reporter Comment Date : 13/02/2007

Reporter Comment                    

 

We contacted the subject and spoke with Ms. Oana Grigorescu (Administrator), who provided the brief operational data shown in the report.

 

Regarding the proprieties, we found that only the office from Bd. Dimitrie Racovita no. 19 app. 1 and 2 sector 2, Bucuresti is company estate, the Working Site being rented.

 

About the cars Ms. Grigorescu refused to give us information’s.

 

Please note that the subject is not listed with overdue debts to the state budget.

 

Please find below the subject’s financials (the latest available from official sources).

 

 

BRIEF FINANCIALS

 

Figures are:

Official figures

Date obtained:

13.02.2007

Currency:

EUROS

 

DATE OF FIGURES
FISCAL YEAR

 

BALANCE SHEET

 

Indicators

2004

2005

TOTAL Fixed Assets

211.541

248.909

TOTAL Current Assets, from which:

660.842

961.407

Stock

328.716

494.188

Cash

34.165

170.017

Receivables

297.960

297.203

NET WORTH,  from which:

255.008

250.999

Paid up capital

8.339

128.899

Patrimony of state owned companies

0

0

Public patrimony

0

0

Provisions

0

0

TOTAL Liabilities

619.131

966.849

 

PROFIT & LOSS ACCOUNT

 

Indicators

2004

2005

Turnover

1.903.571

2.142.099

TOTAL Income

1.943.847

2.218.208

TOTAL Expenditures

1.795.264

2.182.694

Pre-Tax Profit

148.582

35.514

Gross loss

0

0

Net Profit

110.018

28.425

Net loss

0

0

 

 

 

Number of employees

9

9

 

 

 

 

NOTE

The conversion from local currency to EUROS is made at the medium rate of exchange for 2004/2005

 

 

Conclusions

 

Local Reputation:       

The company being investigated is well known and trusted in the local market and is considered to be a sound trading partner with low trade risk associated.

 

 

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

 

 

 

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