MIRA
INFORM REPORT
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Report Date : |
08.05.2007 |
IDENTIFICATION DETAILS
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Name : |
Glencore Grain |
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Registered Office : |
Coolsingel 139-5ET, 3012 AG |
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
20/05/1981 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale business and futures market and other raw materials. |
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 : |
Usually correct |
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Litigation : |
Clear |
name
Glencore Grain
Coolsingel 139-5ET
3012 AG
Tel. : +31 (0)10-4044400
Fax. : +31
(0)10-4129635
Legal status
BV Private Company Ltd.
acc. nat. law
Founded
20/05/1981, Ltd. since
22/06/1981
Trade register
24141798
Capital
nominal EUR 1.250.000,--
issued and paid up EUR 250.000,--
Management
C.J. Mahoney, born
02/01/1959, Bazarstraat 18, 2518 AJ DEN HAAG
ERNEST C.B.
MOSTERT, born 18/08/1964, STATENLAAN 79, 2582 GE `S-GRAVENHAGE
S.F. Kalmin,
born 27/09/1970, ZWITSERLAND
Activity
Wholesale business
and futures market and other raw materials.
Staff
132 employees
Net turnover:
2004 US Dollar 25.090.242
Real estate
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
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Coolsingel
139, 3012 AG
Previous name
of the company:
-
Subject matter
has its offices in the
Net result:
2004 US Dollar
3.211.148
2003 US Dollar
1.946.815
The
shareholders equity was as of:
31/12/2004 US Dollar 6.426.203
31/12/2003 US Dollar 5.213.977
The working
capital was as of:
31/12/2004 US Dollar 4.975.626
31/12/2003 US Dollar 3.384.244
Correspondentie-adres:
Postbus 1120, 3000
BC
In spite of
the legal obligation did subject matter not yet file the 2005 accounts.
NO declaration
of liability has been issued by parent company.
Banks
Fortis Bank,
Fortis Bank,
Mode of payment
Within terms
Credit demand
No objections against
entering into a business relationship.
With regard to
the above mentioned information, we recommend you to follow the course of
business.
The following
financial data is retrieved from the corporate balance sheet of :
Glencore Grain
Coolsingel 139-5ET, 3012 AG
Trade register 24141798
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Glencore Grain
Corporate in US
Dollar(x 1) US Dollar(x 1)
---31-12-2003--- ------31-12-2004---
Intangible assets 0 0
Tangible assets 922.526 626.087
Financial assets 907.207 824.490
Miscellaneous fixed assets 0 0
Total fixed
assets 1.829.733 1.450.577
Stock 0 0
Receivables 33.194.660 16.327.041
Shares 0 0
Liquid assets 46.524 14.594
Miscellaneous current assets 0 0
Total current
assets 33.241.184 16.341.635
Shareholders
equity 5.213.977 6.426.203
Provisions 0 0
Long-term liabilities 0 0
Current liabilities 29.856.940 11.366.009
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 35.070.917 17.792.212
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Glencore Grain
Corporate in US
Dollar(x 1) US Dollar(x 1)
---31-12-2003--- ------31-12-2004---
Turnover 0 25.090.242
Other income 0 0
Total expenses 21.092.696 21.010.513
Operating profit 3.226.578 4.079.729
Balance financial P/L -116.305 331.170
Net profit/loss 1] 3.110.273 4.410.899
Taxation 1.163.458 1.199.751
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 1.946.815 3.211.148
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2] 0 0
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 1.946.815 3.211.148
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Legend : 1]
= Before tax
2]
= After tax
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Glencore Grain
-----2003----- -----2004-----
EQUITY %
Equity gearing 14,9 36,1
Equity/outside
capital 17,5 56,5
LIQUIDITY
Current ratio 1,1 1,4
Acid test 1,1 1,4
RATES OF RETURN %
Total assets 8,9 24,8
Shareholders equity 59,7 68,6
Pre tax margin % 0 17,6
Turnover rate 0 141
(x 1) (x 1)
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Working capital 3.384.244 4.975.626
Shareholders equity + Equalization acc. 5.213.977 6.426.203
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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%)