MIRA INFORM REPORT

 

 

Report Date :

7th March, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

UNIVERSAL TRADERS

 

 

Registered Office :

Hoveniersstraat 53, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

30.09.2005

 

 

Date of Incorporation :

24.06.1993

 

 

Com. Reg. No.:

297106, ANTWERPEN

 

 

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 :

20500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

 

Company name & Address

 

UNIVERSAL TRADERS

HOVENIERSSTRAAT 53

2018 ANTWERPEN BE

Tel. Number                               +32-3-2264751

 

 

Business founded    

 

07 June 1993

 

 

Business registered

 

24 June 1993 - Private company limited by shares

 

 

Business last updated 

 

30 September 2005

 

 

Registration number

 

297106, ANTWERPEN

 

 

Value Added Tax number

 

BE450211543

 

 

Judicial 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                                                      : 20500 EUR is advised

Cash situation (balance sheet analysis)                           : Normal

Profitability (balance sheet analysis)                                : Medium

Commitments (regarding contractual obligations)  : Currently fulfilled

Payment defaults                                                           : None

 

 

Employees (Business)   

 

 1

 

 

Total share capital

 

30 September 2005                    EUR 62000,00

 

 

Branch office(s) 

 

SCHUPSTRAAT 9 11,2018 ANTWERPEN

 

 

Bank 

 

ABN AMRO BANK

 

 

Boardmembers    

 

THIJS MARC                                         Chairman and managing director

THIJS KRISTINE                                    Boardmember

NEVENSTEEN INGRID                          Boardmember

KOTHARI NISHIT PRAKASH                  Boardmember

 

 

 

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 - 30 September 2005  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 

00 0000 - 30 September 2005  in  EUR 

 

Total assets incl. prepaid expenses and accrued income

2.764.475,-

Total fixed assets

226.150,-

Total tangible fixed assets

225.358,-

Land and buildings

148.051,-

Plant, machinery and equipment

15.745,-

Total financial fixed assets

792,-

Total Current assets

2.538.325,-

Inventories and work in progress (incl. prepayments)

1.031.569,-

Accounts receivable (trade)

771.467,-

Cash in hand and at bank

735.289,-

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

2.764.475,-

Total equity (Shareholders' funds)

133.299,-

Issued (subscribed) capital

62.000,-

Profit reserves

65.099,-

Legal reserves

6.200,-

Total liabilities

2.631.176,-

Total long-term liabilities

163.764,-

Total current liabilities

2.467.412,-

Current accounts payable (trade)

2.300.946,-

Current liabilities to credit institutions

983,-

Income and social tax liabilities

30.391,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 

00 0000 - 30 September 2005  in  EUR 

 

Cost of goods sold (operational format)

53.363,-

Personnel costs

9.302,-

Depreciation

36.213,-

Operating profit or loss

68.034,-

Financial income

573.289,-

Financial expenses

-601.435,-

Result of ordinary operations

39.888,-

Extraordinary income

3.510,-

Extraordinary result

43.398,-

Taxes

-179,-

Net profit or loss

43.219,-

Borrowing ratio

1973,89 %

Current ratio

102,87 %

Debt gearing

122,85 %

Quick ratio

61,06 %

Return on assets

24,63 %

Return on equity.

32,42 %

Solidity or equity ratio

4,82 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 0,00

 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

1.652.969,-

Total fixed assets

193.331,-

Total tangible fixed assets

192.879,-

Land and buildings

154.564,-

Plant, machinery and equipment

14.053,-

Total financial fixed assets

452,-

Total Current assets

1.459.638,-

Inventories and work in progress (incl. prepayments)

312.660,-

Accounts receivable (trade)

744.955,-

Cash in hand and at bank

402.023,-

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

1.652.969,-

Total equity (Shareholders' funds)

90.080,-

Issued (subscribed) capital

62.000,-

Profit reserves

21.880,-

Legal reserves

6.200,-

Total liabilities

1.562.889,-

Total long-term liabilities

165.539,-

Total current liabilities

1.362.126,-

Current accounts payable (trade)

1.217.506,-

Income and social tax liabilities

13.152,-

Total accrued expenses and deferred income

35.224,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 

00 0000 - 31 December 2003  in  EUR 

 

Cost of goods sold (operational format)

33.238,-

Personnel costs

1.460,-

Depreciation

27.053,-

Operating profit or loss

26.118,-

Financial income

12.959,-

Financial expenses

-19.337,-

Result of ordinary operations

19.740,-

Extraordinary income

18.115,-

Extraordinary result

37.855,-

Taxes

-6.933,-

Net profit or loss

30.922,-

Borrowing ratio

1735,00 %

Current ratio

104,45 %

Debt gearing

183,77 %

Quick ratio

84,20 %

Return on assets

5,09 %

Return on equity.

34,32 %

Solidity or equity ratio

5,44 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2002  in  EUR 0,00

 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 2002  in  EUR 

 

Total assets incl. prepaid expenses and accrued income

2.720.419,-

Total fixed assets

286.126,-

Total tangible fixed assets

285.674,-

Land and buildings

222.952,-

Plant, machinery and equipment

17.567,-

Total financial fixed assets

452,-

Total Current assets

2.434.293,-

Inventories and work in progress (incl. prepayments)

1.247.666,-

Accounts receivable (trade)

662.677,-

Cash in hand and at bank

523.950,-

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

2.720.419,-

Total equity (Shareholders' funds)

71.658,-

Issued (subscribed) capital

18.592,-

Profit reserves

51.207,-

Legal reserves

1.859,-

Total liabilities

2.648.761,-

Total long-term liabilities

177.927,-

Total current liabilities

2.469.167,-

Current accounts payable (trade)

1.843.740,-

Income and social tax liabilities

27.650,-

Total accrued expenses and deferred income

1.667,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 

00 0000 - 31 December 2002  in  EUR 

 

Cost of goods sold (operational format)

49.970,-

Personnel costs

5.674,-

Depreciation

33.546,-

Operating profit or loss

87.479,-

Financial income

2.609,-

Financial expenses

-94.644,-

Result of ordinary operations

-4.556,-

Extraordinary result

-4.556,-

Taxes

-12.913,-

Net profit or loss

-17.469,-

Borrowing ratio

3696,39 %

Current ratio

98,52 %

Debt gearing

248,30 %

Quick ratio

48,05 %

Return on assets

4,54 %

Return on equity.

-24,37 %

Solidity or equity ratio

2,63 %

 

 

 

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