MIRA INFORM REPORT

 

 

Report Date :

20th January, 2007

 

IDENTIFICATION DETAILS

 

Name :

BLUE SKY

 

 

Registered Office :

Hoveniersstraat 2, 2018 Antwerpen Belgium

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

04.02.1993

 

 

Com. Reg. No.:

294424, ANTWERPEN

 

 

Legal Form :

Private company limited by shares

 

 

Line of Business :

Wholesale of miscellaneous intermediate 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

 

Maximum Credit Limit :

16500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

Company Name & Address

 

BLUE SKY

HOVENIERSSTRAAT 2

2018 ANTWERPEN BE

 

 

Business founded    

 

21 January 1993

 

 

Business registered

 

04 February 1993 - Private company limited by shares

 

 

Business last updated 

 

31 December 2005

 

 

Registration number   

 

294424, ANTWERPEN

 

 

Value Added Tax number  

 

BE449194429

 

 

Judicial form 

 

Private company limited by shares

 

 

Activities  

 

Wholesale of miscellaneous intermediate products

 

 

Payment experience

 

No complaints have been registered

 

Credit opinion

 

Credit opinion

Maximum credit limit                                                      :16500 EUR is advised

Cash situation (balance sheet analysis)                           : Normal

Profitability (balance sheet analysis)                    : Medium

Commitments (regarding contractual obligations)  : Currently fulfilled

Payment defaults                                                           : None

 

 

Employees (Business)     

 

1

 

 

Total share capital

 

31 December 2005                           EUR 1162000,00

 

 

Bank 

 

BANQUE DIAMANTAIRE ANVERSOISE   

 

 

Boardmembers    

 

MEHTA MANOJ RASIKLAL    Deputy boardmember

VANJARA CHAITANYA CHANDRESH    Deputy boardmember

MEHTA SANGEETA MANOJ    Boardmember

MODY VIJAY KUMAR    Boardmember

                                                     

 

 

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 3.592.569,00

 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

3.086.620,-

Total fixed assets

1.809.164,-

Total tangible fixed assets

1.807.464,-

Land and buildings

1.806.389,-

Plant, machinery and equipment

1.075,-

Total financial fixed assets

1.700,-

Total Current assets

1.277.456,-

Inventories and work in progress (incl. prepayments)

306.804,-

Accounts receivable (trade)

961.917,-

Cash in hand and at bank

8.023,-

Total accrued income and prepaid expenses

712,-

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

3.086.620,-

Total equity (Shareholders' funds)

1.002.673,-

Issued (subscribed) capital

1.162.000,-

Profit or loss carried forward

-159.327,-

Total liabilities

2.083.947,-

Total current liabilities

2.083.504,-

Current accounts payable (trade)

1.761.780,-

Current liabilities to credit institutions

678,-

Income and social tax liabilities

5.369,-

Total accrued expenses and deferred income

443,-

 

PER, period that the financial account covers for not consolidated profit and loss account.:

 00 0000 - 31 December 2005  in  EUR 

Main revenue (sales/turnover)

3.592.569,-

Cost of goods sold (operational format)

3.436.821,-

Personnel costs

37.158,-

Depreciation

10.836,-

Operating profit or loss

161.278,-

Financial income

245.476,-

Financial expenses

-375.077,-

Result of ordinary operations

31.677,-

Extraordinary result

31.677,-

Net profit or loss

31.677,-

Borrowing ratio

207,84 %

Current ratio

61,29 %

Profit margin.

4,79 %

Quick ratio

46,55 %

Return on assets

13,52 %

Return on equity.

3,15 %

Solidity or equity ratio

32,48 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 1.347.283,00

 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

2.468.612,-

Total fixed assets

1.795.155,-

Total tangible fixed assets

1.795.155,-

Land and buildings

1.795.155,-

Total Current assets

673.457,-

Inventories and work in progress (incl. prepayments)

354.421,-

Accounts receivable (trade)

197.261,-

Cash in hand and at bank

121.201,-

Total accrued income and prepaid expenses

574,-

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

2.468.612,-

Total equity (Shareholders' funds)

970.996,-

Issued (subscribed) capital

1.162.000,-

Profit or loss carried forward

-191.004,-

Total liabilities

1.497.616,-

Total current liabilities

1.490.733,-

Current accounts payable (trade)

1.231.111,-

Current liabilities to credit institutions

33.026,-

Total accrued expenses and deferred income

6.883,-

 

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)

1.347.283,-

Cost of goods sold (operational format)

1.384.514,-

Depreciation

10.737,-

Operating profit or loss

-28.707,-

Financial income

239.926,-

Financial expenses

-179.214,-

Result of ordinary operations

32.005,-

Extraordinary income

3.306,-

Extraordinary result

35.311,-

Net profit or loss

35.311,-

Borrowing ratio

154,24 %

Current ratio

44,96 %

Profit margin.

-1,33 %

Quick ratio

21,36 %

Return on assets

8,99 %

Return on equity.

3,63 %

Solidity or equity ratio

39,33 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 370.840,00

 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

1.950.284,-

Total fixed assets

1.805.892,-

Total tangible fixed assets

1.805.892,-

Land and buildings

1.805.892,-

Total Current assets

144.392,-

Accounts receivable (trade)

139.103,-

Cash in hand and at bank

4.626,-

Total accrued income and prepaid expenses

663,-

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

1.950.284,-

Total equity (Shareholders' funds)

935.685,-

Issued (subscribed) capital

1.162.000,-

Profit or loss carried forward

-226.315,-

Total liabilities

1.014.599,-

Total current liabilities

1.014.599,-

Current accounts payable (trade)

769.326,-

Income and social tax liabilities

114,-

 

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)

370.840,-

Cost of goods sold (operational format)

399.305,-

Depreciation

10.737,-

Operating profit or loss

-12.909,-

Financial income

153.313,-

Financial expenses

-81.463,-

Result of ordinary operations

58.941,-

Extraordinary result

58.941,-

Net profit or loss

58.941,-

Borrowing ratio

108,43 %

Current ratio

14,23 %

Profit margin.

-0,58 %

Quick ratio

14,16 %

Return on assets

7,74 %

Return on equity.

6,29 %

Solidity or equity ratio

47,97 %

 

 

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

 

 

 

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