MIRA INFORM REPORT

 

 

Report Date :

05.07.2007

           

IDENTIFICATION DETAILS

 

Name :

DIAROUGH SOURCING SA

 

 

Registered Office :

Avenue Monterey 23, 86

 

 

Country :

Luxembourg

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

18-11-2004

 

 

Com. Reg. No.:

B 104.283

 

 

Legal Form :

Public limited liability company,

 

 

Line of Business :

Investors

 

 

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 :

2,479  Euro

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

IDENTIFICATION

 

Business Name                                                 DIAROUGH SOURCING SA

Business Trading Address                      AVENUE MONTEREY 23                 

2086 LUXEMBOURG

                                                            LX

Registration Number                               B 104.283

Parent Company                                                EGON HOLDING SA

                                   

 

ISN RISK ASSESSMENT

 

Maximum Credit                                    2,479  Euro

 

LANGUAGE: In certain circumstances information in this report may be quoted in the local language.  In case of difficulty, please contact your ISN local Customer Service Department.

 

 

INDUSTRY SECTOR COMPARISON

 

Financial Strength Indicator Comparison:

 

This business has a Financial Strength Indicator of H (based on tangible net worth)

 

Comparing this business against the 1,813 other businesses, within its industry sector (SIC Code 6799), reveals the following:

 

                       NUMBER OF                   financial strength

                       BUSINESSES                 INDICATOR COMPARISON

 

                        1,438    (79.3%)                         Higher

                          112     (6.2%)                                      Same

                          263    (14.5%)                          Lower

 

 

Risk Indicator Comparison:

 

This business has a Risk Indicator of 2 (low risk)

 

Comparing this business against the 112 businesses within the same Financial Strength category, reveals that:

 

                        NUMBER OF                                 RISK

                         BUSINESSES                           COMPARISON

 

                           91    (81.3%)                                      Higher risk

                           19    (17.0%)                                      Same

                            0     (0.0%)                            Lower risk

                            2     (1.8%)                            Unclassified

 

    

Conclusion:

 

This business therefore has a LOWER than average Financial Strength, compared to its Industry Sector, and a LOWER than average Risk Indicator, when comparing businesses of the same Financial Strength category.

 

PAYMENT INFORMATION

 

We collect in excess of 100 million trade payment experiences on European businesses each year.

 

Payment experiences are derived from the analysis of 1 or more invoices from -Trade Partners to determine the average payment behaviour of this business within the last 12 months.

 

In some instances, payment beyond terms can be the result of overlooked or disputed invoices.

 

Total experiences received over the last 12 months  - 2

 

 

 Based on the 1747 firms in SIC code 6711 where ISN has payment experiences.

 

     UPPER SEGMENT (TOP 25%)          Pays within terms                      PAYDEX 80

     MEDIUM SEGMENT (Middle 50%)     Pays 11 days beyond terms       PAYDEX 73

     LOWER SEGMENT (Bottom 25%)     Pays 22 days beyond terms       PAYDEX 60

 

Payment Experience Summary

 

Breakdown of experiences settled to payment terms - 12 months

            Value     Number of    Total  Within        (% days late)

            Bands    Experiences   Value  terms    1-30  31-60  61-90    91+

            Euro                             Euro   (%)

 

            > 100,000       -              -           -           -           -      -      -

        75,000-99,999    -               -           -           -           -      -      -

        50,000-74,999    -                -          -           -           -      -      -

        25,000-49,999    -               -           -           -           -      -      -

        10,000-24,999    -                -          -           -           -      -      -

        < 10,000     2      -              100      -           -           -      -      -

      Total          2

 

 

 SPECIAL EVENTS

 

 Critical legal notice information filed is investigated by ISN Analysts, and where relevant, comment is presented in this section.

 

  *** Business name changed. ***

 

Le 080806, changement de la denomination sociale de EGON SOURCING SA en DIAROUGH SOURCING SA.

 

 

ACCOUNTS PLACED FOR COLLECTION

 

No information of amounts having been placed with external collection agents for recovery from this business have been received by ISN during the past 36 months.

 

MANAGEMENT

 

Name:          PARIKH Nishit

                    Director.

Name:         SACKS Jeffrey

                    Director.

 

 

CORPORATE STRUCTURE

 

CAPITAL

 

Nominal capital : USD 50.000 divided into 500 shares of 100

All issued.

 

SHAREHOLDERS:

 

           Voting Capital      Shareholder

 

                98%              EGON HOLDING SA

                 2%              EGON FINANCE S.A

 

  Shareholders information based on the enclosures of the Balance Sheet filed at the National Bank of Belgium and on ISN sources.

 

PARENT COMPANY

 

IMMEDIATE PARENT

 

NAME:                          EGON HOLDING SA

                                    LUXEMBOURG

                                    LUXEMBOURG

D-U-N-S NUMBER:        40-070-9002

Interest:                        98%

ISN Rating                     N4

 

 

BRANCHES

 

There are no recorded branch locations for this business.

 

 

 HISTORY/OPERATIONS

 

 HISTORY

 

Public limited liability company, constituted 18-11-2004

Inscribed in the Mercantile Register of LUXEMBOURG REG NO B 104.283

Name changed from EGON SOURCING SA

Relocated 8-8-06

 

 

OPERATIONS

 

SIC CODE(S):   6711     6799

 

HOLDING COMPANY OF A COMPANY/A GROUP OF COMPANIES OPERATING AS: INVESTORS

 

Investissements divers

 

Employees:          UNKNOWN

 

 

BANKERS

 

Bankers not known.

 

 

MANAGEMENT COMMENT

 

COMMENTS UPON BALANCE SHEET AS AT 31-12-2005. From the average degree of indebtedness, it appears that net worth is considerably higher than outside financing.

 

 

PRESS CUTTINGS

 

Press and Business articles are added to the ISN database daily.  Recent significant cuttings relating to this business will appear in this section.

 

 

 FINANCIAL COMPARISONS

 

                                                Fiscal

                                      31 DEC 2005

                                                   USD

                                                   '000s

 

  Profit After Tax                              (21)

  Net worth                                     20

  Tot. Non Curr. Assets                       0

  Current Assets                                24

  Current Liabilities                               1

  Working Capital                               23

 

 

FINANCIAL RATIOS

 

RATIOS AS AT                          31 DEC 2005

 

  FINANCIAL STATUS

  Acid Test (X)                                        24,0

  Current Ratio (X)                                              24,0

  Solvency Ratio (%)                               20,0

  Current Liab's/Net Worth(%)                    5,0

  Degree of Indebtedness (%)                  17,0

 

 

 BALANCE SHEET

 

 Type                            Abbrev. scheme

                                                  Fiscal

  Closing date                    31 DEC 2005

  Currency                                        USD

 

  ASSETS                                     '000s

 

  2028 FIXED ASSETS                        0

 

  2958 CURRENT ASSETS               24

  5458 Cash                                        24

 

  2058 TOTAL ASSETS                      24

 

  1015 CAPITAL & RESERV               20

  10   Capital                                        50

  140  Acc Prof/141 Los                      (30)

 

  1749 CREDITORS                              4

  17   Liabilities +1YR                             3

  4248 Liabilities -1yr                              1

 

  1049 TOT LIABILITIES                        24

 

 

  Closing date                            31 DEC 2005

  Currency                                              USD

  PROFIT & LOSS ACCOUNT                 '000s

 

 

  7067 PROFIT (6770 LOSS) FOR            (21)

 

  6870 LOSS FOR YR AVAIL FOR             (21)

 

  Balance Sheet received from the Registry of the Chamber of Commerce.

 

 

SUMMARY

 

STARTED                     : 2004                                      

LEGAL FORM               : SA/NV                       

REG. CITY                    : LUXEMBOURG          

REG NO                       : B 104.283                  

NOMINAL CAPITAL       : 50.000 (USD)

ISSUED CAPITAL          : ALL

 PROFIT/(LOSS)            : (21) (THOUSANDS) (USD)

TANG. NET WORTH      :  20

(THOUSANDS) (USD) As at 31-12-2005

 

 

 

 

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