MIRA INFORM REPORT

 

 

Report Date :

09.07.2007

 

IDENTIFICATION DETAILS

 

Name :

TOUCH STONE

 

 

Registered Office :

Schupstraat 9 11 B.9, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

05 September 2000

 

 

Com. Reg. No.:

340992

 

 

Legal Form :

Private Company with limited liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Maximum Credit Limit :

3000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear


name & address

 

TOUCH STONE

SCHUPSTRAAT 9 11 B.9

2018 ANTWERPEN BE

Tel. Number  + 32-3-2262302

 

 

Business founded

05 September 2000

Business registered

06 October 2000 - Private company with limited liability

Registration number,

340992, ANTWERPEN,

Value Added Tax number,

BE472800467,

Judicial form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 3000 EUR is advised

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Medium 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 0

Total share capital31 December 2005

EUR 18600,00

Bank

DEXIA BANK BELGIUM   

Board members

SHAH MANISH NAVNITLAL    Manager

Management

SHAH KOMAL MANISH    Partner

 

SHAH MANISH NAVNITLAL    Partner

 

 

 

 

 

 

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 655.524,00

 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

527.742,-

Total fixed assets

15.354,-

Total tangible fixed assets

13.792,-

Plant, machinery and equipment

791,-

Total financial fixed assets

1.562,-

Total Current assets

512.388,-

Inventories and work in progress (incl. prepayments)

252.524,-

Accounts receivable (trade)

241.262,-

Cash in hand and at bank

17.961,-

Total accrued income and prepaid expenses

641,-

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

527.742,-

Total equity (Shareholders' funds)

29.767,-

Issued (subscribed) capital

18.600,-

Profit reserves

9.902,-

Legal reserves

1.860,-

Profit or loss carried forward

-595,-

Total liabilities

497.975,-

Total current liabilities

497.975,-

Current accounts payable (trade)

163.720,-

Income and social tax liabilities

2.681,-

 

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)

655.524,-

Cost of goods sold (operational format)

627.476,-

Personnel costs

124,-

Depreciation

5.795,-

Operating profit or loss

28.073,-

Financial income

168.000,-

Financial expenses

-195.440,-

Result of ordinary operations

633,-

Extraordinary result

633,-

Taxes

-1.228,-

Net profit or loss

-595,-

Borrowing ratio

1672,91 %

Current ratio

102,89 %

Profit margin.

5,16 %

Quick ratio

52,05 %

Return on assets

38,25 %

Return on equity.

-1,99 %

Solidity or equity ratio

5,64 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 1.629.643,00

 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

719.389,-

Total fixed assets

21.149,-

Total tangible fixed assets

19.587,-

Plant, machinery and equipment

1.314,-

Total financial fixed assets

1.562,-

Total Current assets

698.240,-

Inventories and work in progress (incl. prepayments)

260.659,-

Accounts receivable (trade)

415.653,-

Cash in hand and at bank

19.798,-

Total accrued income and prepaid expenses

2.130,-

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

719.389,-

Total equity (Shareholders' funds)

30.362,-

Issued (subscribed) capital

18.600,-

Profit reserves

9.902,-

Legal reserves

1.860,-

Total liabilities

689.027,-

Total long-term liabilities

2.961,-

Total current liabilities

686.066,-

Current accounts payable (trade)

385.368,-

Current liabilities to credit institutions

3.893,-

Income and social tax liabilities

3.407,-

 

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)

1.629.643,-

Cost of goods sold (operational format)

1.645.041,-

Personnel costs

3.622,-

Depreciation

5.542,-

Operating profit or loss

-15.398,-

Financial income

384.738,-

Financial expenses

-368.393,-

Result of ordinary operations

947,-

Extraordinary result

947,-

Taxes

-198,-

Net profit or loss

749,-

Borrowing ratio

2269,37 %

Current ratio

101,77 %

Debt gearing

9,75 %

Profit margin.

-0,60 %

Quick ratio

63,47 %

Return on assets

52,11 %

Return on equity.

2,46 %

Solidity or equity ratio

4,22 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 2.420.404,00

 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

1.385.882,-

Total fixed assets

24.338,-

Total tangible fixed assets

22.776,-

Plant, machinery and equipment

360,-

Total financial fixed assets

1.562,-

Total Current assets

1.361.544,-

Inventories and work in progress (incl. prepayments)

293.002,-

Accounts receivable (trade)

1.028.478,-

Cash in hand and at bank

39.279,-

Total accrued income and prepaid expenses

785,-

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

1.385.882,-

Total equity (Shareholders' funds)

29.613,-

Issued (subscribed) capital

18.592,-

Profit reserves

9.162,-

Legal reserves

1.859,-

Total liabilities

1.356.269,-

Total long-term liabilities

9.822,-

Total current liabilities

1.345.923,-

Current accounts payable (trade)

1.023.613,-

Current liabilities to credit institutions

417,-

Income and social tax liabilities

5.541,-

Total accrued expenses and deferred income

524,-

 

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)

2.420.404,-

Cost of goods sold (operational format)

2.469.798,-

Personnel costs

556,-

Depreciation

3.111,-

Operating profit or loss

-49.394,-

Financial income

802.030,-

Financial expenses

-748.487,-

Result of ordinary operations

4.149,-

Extraordinary result

4.149,-

Taxes

-3.608,-

Net profit or loss

541,-

Borrowing ratio

4579,98 %

Current ratio

101,12 %

Debt gearing

33,17 %

Profit margin.

-1,91 %

Quick ratio

79,33 %

Return on assets

54,53 %

Return on equity.

1,82 %

Solidity or equity ratio

2,13 %

 

 

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