MIRA INFORM REPORT

 

 

Report Date :

20.07.2007

 

IDENTIFICATION DETAILS

 

Name :

K.G.K. DIAMONDS

 

 

Registered Office :

Hoveniersstraat 2, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

27 November 1989

 

 

Com. Reg. No.:

273880

 

 

Legal Form :

Private company with limited liability

 

 

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 :

228000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

K.G.K. DIAMONDS

HOVENIERSSTRAAT 2

2018 ANTWERPEN BE

Tel. Number       +32-3-2339731

Fax number       +32-3-2131158

 

 

Business founded

27 November 1989

Business registered

22 December 1989 - Private company with limited liability

Registration number,

273880, ANTWERPEN,

VAT number,

BE439113159,

Legal 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 228000 EUR is advised

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 1

Total share capital31 December 2005

EUR 19000,00

Bank

ABN AMRO BANK   

Boardmembers

PRIME INTERNATIONAL FZCO    Manager

 

JAIN RAJESH    Manager

Management

KOTHARI SANJIV    Partner

 

VAN BOURGOGNIE PATRICK    Representative and auditor

Auditor

WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN    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 40.140.000,00

 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

23.903.000,-

Total fixed assets

653.000,-

Total intangible fixed assets

5.000,-

Total tangible fixed assets

646.000,-

Land and buildings

564.000,-

Plant, machinery and equipment

66.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

23.250.000,-

Inventories and work in progress (incl. prepayments)

11.895.000,-

Accounts receivable (trade)

10.663.000,-

Cash in hand and at bank

670.000,-

Total accrued income and prepaid expenses

22.000,-

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

23.903.000,-

Total equity (Shareholders' funds)

383.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

362.000,-

Legal reserves

2.000,-

Total liabilities

23.520.000,-

Total long-term liabilities

1.487.000,-

Long-term Loans, Mortgage debts

1.144.000,-

Long-term liabilities to credit institutions

343.000,-

Total current liabilities

22.025.000,-

Current accounts payable (trade)

20.287.000,-

Current liabilities to credit institutions

1.648.000,-

Income and social tax liabilities

8.000,-

Total accrued expenses and deferred income

8.000,-

 

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

Total operating income/revenue

40.162.000,-

Main revenue (sales/turnover)

40.140.000,-

Total operating expenses

-39.882.000,-

Cost of materials (type of expenditure format)

39.253.000,-

Cost of goods sold (operational format)

39.882.000,-

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

280.000,-

Personnel costs

86.000,-

Depreciation

53.000,-

Operating profit or loss

280.000,-

Financial income

7.000,-

Financial expenses

-208.000,-

Result of ordinary operations

79.000,-

Extraordinary result

79.000,-

Taxes

-23.000,-

Net profit or loss

56.000,-

Borrowing ratio

6222,22 %

Current ratio

105,52 %

Debt gearing

393,39 %

Profit margin.

0,82 %

Quick ratio

51,45 %

Return on assets

1,19 %

Return on equity.

14,62 %

Solidity or equity ratio

1,60 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 23.515.000,00

 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

14.464.000,-

Total fixed assets

694.000,-

Total tangible fixed assets

692.000,-

Land and buildings

579.000,-

Plant, machinery and equipment

99.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

13.770.000,-

Inventories and work in progress (incl. prepayments)

5.020.000,-

Accounts receivable (trade)

7.931.000,-

Cash in hand and at bank

806.000,-

Total accrued income and prepaid expenses

13.000,-

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

14.464.000,-

Total equity (Shareholders' funds)

350.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

329.000,-

Legal reserves

2.000,-

Total liabilities

14.114.000,-

Total long-term liabilities

758.000,-

Long-term Loans, Mortgage debts

367.000,-

Long-term liabilities to credit institutions

391.000,-

Total current liabilities

13.297.000,-

Current accounts payable (trade)

11.604.000,-

Current liabilities to credit institutions

1.596.000,-

Income and social tax liabilities

2.000,-

Total accrued expenses and deferred income

59.000,-

 

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

Total operating income/revenue

23.533.000,-

Main revenue (sales/turnover)

23.515.000,-

Total operating expenses

-23.354.000,-

Cost of materials (type of expenditure format)

23.103.000,-

Cost of goods sold (operational format)

23.354.000,-

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

179.000,-

Personnel costs

11.000,-

Depreciation

39.000,-

Operating profit or loss

179.000,-

Financial expenses

-102.000,-

Result of ordinary operations

77.000,-

Extraordinary income

12.000,-

Extraordinary result

89.000,-

Taxes

-22.000,-

Net profit or loss

67.000,-

Borrowing ratio

4032,57 %

Current ratio

103,09 %

Debt gearing

216,57 %

Profit margin.

0,92 %

Quick ratio

65,70 %

Return on assets

1,33 %

Return on equity.

19,14 %

Solidity or equity ratio

2,41 %

 

Turnover for the period: 00 0000 - 31 March 2004  in  EUR 40.491.000,00

 Not consolidated profit and loss turnover of the business: 

 

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

Total assets incl. prepaid expenses and accrued income

19.504.000,-

Total fixed assets

723.000,-

Total tangible fixed assets

721.000,-

Land and buildings

590.000,-

Plant, machinery and equipment

116.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

18.781.000,-

Inventories and work in progress (incl. prepayments)

5.808.000,-

Accounts receivable (trade)

12.749.000,-

Cash in hand and at bank

220.000,-

Total accrued income and prepaid expenses

4.000,-

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

19.504.000,-

Total equity (Shareholders' funds)

311.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

290.000,-

Legal reserves

2.000,-

Total liabilities

19.193.000,-

Total long-term liabilities

1.244.000,-

Long-term Loans, Mortgage debts

818.000,-

Long-term liabilities to credit institutions

426.000,-

Total current liabilities

17.946.000,-

Current accounts payable (trade)

17.032.000,-

Current liabilities to credit institutions

818.000,-

Income and social tax liabilities

3.000,-

Total accrued expenses and deferred income

3.000,-

 

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

Total operating income/revenue

40.523.000,-

Main revenue (sales/turnover)

40.491.000,-

Total operating expenses

-40.308.000,-

Cost of materials (type of expenditure format)

39.800.000,-

Cost of goods sold (operational format)

40.308.000,-

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

215.000,-

Personnel costs

24.000,-

Depreciation

55.000,-

Operating profit or loss

215.000,-

Financial expenses

-117.000,-

Result of ordinary operations

98.000,-

Extraordinary result

98.000,-

Taxes

-22.000,-

Net profit or loss

76.000,-

Borrowing ratio

6171,38 %

Current ratio

104,63 %

Debt gearing

400,00 %

Profit margin.

0,66 %

Quick ratio

72,26 %

Return on assets

1,10 %

Return on equity.

24,43 %

Solidity or equity ratio

1,59 %

 

 

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