MIRA INFORM REPORT

 

 

Report Date :

10.07.2007

 

IDENTIFICATION DETAILS

 

Name :

KAY DIAMONDS

 

 

Registered Office :

Vestingstraat 74 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

29 July 1998

 

 

Com. Reg. No.:

330507

 

 

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 :

133500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

KAY DIAMONDS

VESTINGSTRAAT 74

2018 ANTWERPEN BE

Tel. Number       +32-3-2325675

Fax number       +32-3-2274574

 

 

Business founded

29 July 1998

Business registered

27 August 1998 - Private company limited by shares

Registration number,

330507, ANTWERPEN,

VAT number,

BE463947634,

Legal 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 133500 EUR is advised

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 6

Total share capital31 December 2005

EUR 350000,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

MEHTA CHETAN    Deputy boardmember

 

MEHTA PRABODH    Deputy boardmember

 

MEHTA RASHMI    Deputy boardmember

 

MEHTA BHAVIN    Deputy boardmember

Management

MEHTA CHETAN    Partner

 

MEHTA PRABODH    Partner

 

MEHTA BHAVIN    Partner

 

MEHTA RASHMI    Partner

 

TOELEN LUC    Representative and auditor

Auditor

TCLM TOELEN CATS MORLIE & CO    Auditors´ president

 

 

 

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 32.729.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

24.464.000,-

Total fixed assets

115.000,-

Total tangible fixed assets

110.000,-

Plant, machinery and equipment

48.000,-

Total Current assets

24.349.000,-

Inventories and work in progress (incl. prepayments)

9.482.000,-

Accounts receivable (trade)

14.834.000,-

Cash in hand and at bank

33.000,-

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

24.464.000,-

Total equity (Shareholders' funds)

583.000,-

Issued (subscribed) capital

350.000,-

Profit reserves

205.000,-

Legal reserves

28.000,-

Total liabilities

23.881.000,-

Total current liabilities

23.855.000,-

Current accounts payable (trade)

15.054.000,-

Current liabilities to credit institutions

8.550.000,-

Income and social tax liabilities

31.000,-

Total accrued expenses and deferred income

26.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

32.744.000,-

Main revenue (sales/turnover)

32.729.000,-

Total operating expenses

-31.765.000,-

Cost of materials (type of expenditure format)

30.399.000,-

Cost of goods sold (operational format)

31.765.000,-

Gross profit or loss after cost of materials or after cost of goods sold

979.000,-

Personnel costs

364.000,-

Depreciation

33.000,-

Operating profit or loss

979.000,-

Financial income

49.000,-

Financial expenses

-834.000,-

Result of ordinary operations

194.000,-

Extraordinary income

1.000,-

Extraordinary expenses

-132.000,-

Extraordinary result

63.000,-

Taxes

-41.000,-

Net profit or loss

22.000,-

Borrowing ratio

4096,23 %

Current ratio

101,95 %

Profit margin.

3,09 %

Quick ratio

62,32 %

Return on assets

2,39 %

Return on equity.

3,77 %

Solidity or equity ratio

2,38 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 30.064.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

18.527.000,-

Total fixed assets

209.000,-

Total tangible fixed assets

134.000,-

Plant, machinery and equipment

56.000,-

Total financial fixed assets

75.000,-

Investments (long-term)

75.000,-

Total Current assets

18.318.000,-

Inventories and work in progress (incl. prepayments)

7.738.000,-

Accounts receivable (trade)

10.551.000,-

Cash in hand and at bank

28.000,-

Total accrued income and prepaid expenses

1.000,-

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

18.527.000,-

Total equity (Shareholders' funds)

291.000,-

Issued (subscribed) capital

62.000,-

Profit reserves

223.000,-

Legal reserves

6.000,-

Total liabilities

18.236.000,-

Total current liabilities

18.226.000,-

Current accounts payable (trade)

11.674.000,-

Current liabilities to credit institutions

6.243.000,-

Income and social tax liabilities

53.000,-

Total accrued expenses and deferred income

10.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

30.175.000,-

Main revenue (sales/turnover)

30.064.000,-

Total operating expenses

-30.304.000,-

Cost of materials (type of expenditure format)

29.091.000,-

Cost of goods sold (operational format)

30.304.000,-

Gross profit or loss after cost of materials or after cost of goods sold

-129.000,-

Personnel costs

345.000,-

Depreciation

29.000,-

Operating profit or loss

-129.000,-

Financial income

609.000,-

Financial expenses

-397.000,-

Result of ordinary operations

83.000,-

Extraordinary result

83.000,-

Taxes

-26.000,-

Net profit or loss

57.000,-

Borrowing ratio

6266,67 %

Current ratio

100,44 %

Profit margin.

-0,33 %

Quick ratio

58,04 %

Return on assets

2,39 %

Return on equity.

19,58 %

Solidity or equity ratio

1,57 %

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 34.491.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

20.322.000,-

Total fixed assets

169.000,-

Total tangible fixed assets

95.000,-

Plant, machinery and equipment

66.000,-

Total financial fixed assets

74.000,-

Investments (long-term)

74.000,-

Total Current assets

20.153.000,-

Inventories and work in progress (incl. prepayments)

7.664.000,-

Accounts receivable (trade)

12.453.000,-

Cash in hand and at bank

33.000,-

Total accrued income and prepaid expenses

3.000,-

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

20.322.000,-

Total equity (Shareholders' funds)

234.000,-

Issued (subscribed) capital

62.000,-

Profit reserves

166.000,-

Legal reserves

6.000,-

Total liabilities

20.088.000,-

Total current liabilities

20.088.000,-

Current accounts payable (trade)

13.027.000,-

Current liabilities to credit institutions

6.591.000,-

Income and social tax liabilities

49.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Total operating income/revenue

34.491.000,-

Main revenue (sales/turnover)

34.491.000,-

Total operating expenses

-34.165.000,-

Cost of materials (type of expenditure format)

33.140.000,-

Cost of goods sold (operational format)

34.165.000,-

Gross profit or loss after cost of materials or after cost of goods sold

326.000,-

Personnel costs

191.000,-

Depreciation

31.000,-

Operating profit or loss

326.000,-

Financial income

102.000,-

Financial expenses

-359.000,-

Result of ordinary operations

69.000,-

Extraordinary result

69.000,-

Taxes

-25.000,-

Net profit or loss

44.000,-

Borrowing ratio

8584,62 %

Current ratio

100,32 %

Profit margin.

1,03 %

Quick ratio

62,15 %

Return on assets

1,78 %

Return on equity.

18,80 %

Solidity or equity ratio

1,15 %

 

 

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