MIRA
INFORM REPORT
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Report Date : |
19.06.2007 |
IDENTIFICATION DETAILS
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Name : |
Glencore Grain B.V. |
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Registered Office : |
Coolsingel 139, 3012 Ag
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
09/04/1980 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trade and distribution of
all types of goods and raw product. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name & address
Glencore Grain
B.V.
Coolsingel 139
3012 AG
Tel.:+31
(0)10-4044400
Fax.:+31
(0)10-4129635
Legal status
BV Private Company Ltd.
acc. nat. law
Founded
09/04/1980 as Ltd.
Trade register
24138640
Capital
nominal EUR 82.350.000,--
issued and paid up EUR 16.518.150,--
Management
C.J. Mahoney, born
02/01/1959, Bazarstraat 18, 2518 AJ DEN HAAG
Ernest
Christian Barend Mostert, born 18/08/1964, Statenlaan 79, 2582 GE `S-GRAVENHAGE
Andreas P.
Hubmann, born 11/10/1966, Frühberg 48,
BAAR -
Activity
Trade and
distribution of all types of goods and raw product.
Staff
No employees
The business premises
at the mentioned address has been rented by the company, as far as we know.
See balance sheet
The last
available balance sheet is attached.
A more recent
balance sheet is not available.
Remarks
Subsidiary company
of
-Finges Investment
B.V.,
Coolsingel
139, 3012 AG
The
shareholders equity was as of:
31/12/2004 Euro 242.353
31/12/2003 Euro 238.844
31/12/2002 Euro 240.781
The working
capital was as of:
31/12/2004 Euro 242.353
31/12/2003 Euro 238.844
31/12/2002 Euro 240.781
Subject matter
is part of the Swiss Glencore concern, which had a turnover of USD
91.000.000.000,- in 2005 with a group capital of USD 6.400.000.000,-.
Despite of
legal obligation one did not file the balance 2005 yet. There is no declaration of liability for subject matter.
Banks
Fortis Bank,
Mode of payment
On average 15 days beyond
terms.
Credit demand
No objections against
entering into a business relationship.
The following
financial data is retrieved from the corporate balance sheet of :
Glencore Grain B.V.
Coolsingel 139, 3012 AG
Trade register 24138640
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Glencore Grain B.V. *** BALANCE SHEET ***
Corporate in Euro(x
1) Euro(x 1)
---31-12-2003--- ------31-12-2004---
Intangible assets 0 0
Tangible assets 0 0
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed
assets 0 0
Stock 0 0
Receivables 2.270 2.385
Shares 0 0
Liquid assets 238.109 241.299
Miscellaneous current assets 0 0
Total current
assets 240.379 243.684
Shareholders
equity 238.844 242.353
Provisions 0 0
Long-term liabilities 0 0
Current liabilities 1.535 1.331
Minority interests 0 0
Miscellaneous liabilities 0 0
Total liabilities 240.379 243.684
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Glencore Grain B.V. *** FINANCIAL RATIOS ***
-----2003----- -----2004-----
EQUITY %
Equity gearing 99,4 99,5
Equity/outside capital 15559,9 18208,3
LIQUIDITY
Current ratio 156,6 183,1
Acid test 156,6 183,1
RATES OF RETURN %
Total assets 0 0
Shareholders
equity 0 0
Pre tax margin
% 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital 238.844 242.353
Shareholders
equity + Equalization acc. 238.844 242.353
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)