MIRA INFORM REPORT

 

 

Report Date :

30.10.2007

 

IDENTIFICATION DETAILS

 

Name :

MARJAN DIAMONDS

 

 

Registered Office :

Hoveniersstraat 30, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

16 January 1998

 

 

Com. Reg. No.:

327278

 

 

Legal Form :

Private company limited by shares

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

MARJAN DIAMONDS

HOVENIERSSTRAAT 30

2018 ANTWERPEN BE

Tel. Number       +32-3-2274747

Fax number       +32-3-2274746

 

 

Business founded

16 January 1998

Business registered

09 February 1998 - Private company limited by shares

Registration number,

327278, ANTWERPEN,

VAT number,

BE462514212,

Legal form

Private company limited by shares

Activities

Wholesale of miscellaneous intermediate products

Payment experience

Nothing to report

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Very good 

 

Commitments (regarding contractual obligations) : Completely fulfilled 

 

Payment defaults : None 

Employees (Business)

 6

Total share capital31 December 2006

EUR 899853,00

Branch office(s)

HOVENIERSSTRAAT 30,2018 ANTWERPEN   

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

NASSER MOHAMAD JAOUDAT    Deputy boardmember

 

NASSER ALI    Deputy boardmember

Management

NASSER MOHAMAD JAOUDAT    Partner

 

YAHYA ADIB    Partner

 

KOZEIHA ALI    Partner

 

NASSER ALI    Partner

Associate company.

451185107   UNITED CUTTING AND MARKETING   24,44 %   

 

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 17.823.645,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

13.354.647,-

Total fixed assets

464.396,-

Total tangible fixed assets

407.934,-

Land and buildings

318.247,-

Plant, machinery and equipment

66.550,-

Total financial fixed assets

56.461,-

Loans, shares and participations

46.356,-

Investments (long-term)

10.105,-

Total Current assets

12.890.251,-

Inventories and work in progress (incl. prepayments)

8.376.747,-

Accounts receivable (trade)

4.482.790,-

Cash in hand and at bank

15.578,-

Total accrued income and prepaid expenses

15.136,-

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

13.354.647,-

Total equity (Shareholders' funds)

1.958.859,-

Issued (subscribed) capital

899.853,-

Statutory reserves

776.036,-

Legal reserves

35.465,-

Profit or loss carried forward

247.504,-

Total liabilities

11.395.788,-

Total long-term liabilities

805.355,-

Long-term liabilities to credit institutions

47.520,-

Total current liabilities

10.590.433,-

Current accounts payable (trade)

8.406.791,-

Current liabilities to credit institutions

1.963.400,-

Income and social tax liabilities

41.461,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Total operating income/revenue

17.839.765,-

Main revenue (sales/turnover)

17.823.645,-

Total operating expenses

17.254.022,-

Cost of materials (type of expenditure format)

16.115.283,-

Cost of goods sold (operational format)

17.254.022,-

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

585.743,-

Personnel costs

256.969,-

Depreciation

72.305,-

Operating profit or loss

585.743,-

Financial income

426.906,-

Financial expenses

194.110,-

Result of ordinary operations

818.539,-

Extraordinary result

818.539,-

Taxes

38.135,-

Net profit or loss

780.404,-

Borrowing ratio

578,38 %

Current ratio

121,71 %

Debt gearing

40,87 %

Profit margin.

3,68 %

Quick ratio

42,47 %

Return on assets

7,91 %

Return on equity.

39,83 %

Solidity or equity ratio

14,66 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 22.237.000,00

 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

10.900.000,-

Total fixed assets

523.000,-

Total tangible fixed assets

467.000,-

Land and buildings

348.000,-

Plant, machinery and equipment

88.000,-

Total financial fixed assets

56.000,-

Loans, shares and participations

46.000,-

Investments (long-term)

10.000,-

Total Current assets

10.377.000,-

Inventories and work in progress (incl. prepayments)

6.211.000,-

Accounts receivable (trade)

3.775.000,-

Cash in hand and at bank

389.000,-

Total accrued income and prepaid expenses

2.000,-

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

10.900.000,-

Total equity (Shareholders' funds)

1.178.000,-

Issued (subscribed) capital

900.000,-

Legal reserves

35.000,-

Profit or loss carried forward

243.000,-

Total liabilities

9.722.000,-

Total long-term liabilities

835.000,-

Long-term liabilities to credit institutions

101.000,-

Total current liabilities

8.887.000,-

Current accounts payable (trade)

7.311.000,-

Current liabilities to credit institutions

1.343.000,-

Income and social tax liabilities

33.000,-

 

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

Total operating income/revenue

22.250.000,-

Main revenue (sales/turnover)

22.237.000,-

Total operating expenses

-21.635.000,-

Cost of materials (type of expenditure format)

20.448.000,-

Cost of goods sold (operational format)

21.635.000,-

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

615.000,-

Personnel costs

255.000,-

Depreciation

74.000,-

Operating profit or loss

615.000,-

Financial expenses

-580.000,-

Result of ordinary operations

35.000,-

Extraordinary result

35.000,-

Taxes

-11.000,-

Net profit or loss

24.000,-

Borrowing ratio

817,26 %

Current ratio

116,76 %

Debt gearing

70,19 %

Profit margin.

3,09 %

Quick ratio

46,85 %

Return on assets

2,77 %

Return on equity.

2,03 %

Solidity or equity ratio

10,80 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 23.528.000,00

 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

13.281.000,-

Total fixed assets

585.000,-

Total tangible fixed assets

530.000,-

Land and buildings

378.000,-

Plant, machinery and equipment

111.000,-

Total financial fixed assets

55.000,-

Loans, shares and participations

46.000,-

Investments (long-term)

9.000,-

Total Current assets

12.696.000,-

Inventories and work in progress (incl. prepayments)

9.111.000,-

Accounts receivable (trade)

3.520.000,-

Cash in hand and at bank

22.000,-

Total accrued income and prepaid expenses

43.000,-

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

13.281.000,-

Total equity (Shareholders' funds)

1.154.000,-

Issued (subscribed) capital

900.000,-

Legal reserves

16.000,-

Profit or loss carried forward

238.000,-

Total liabilities

12.127.000,-

Total long-term liabilities

888.000,-

Long-term liabilities to credit institutions

154.000,-

Total current liabilities

11.239.000,-

Current accounts payable (trade)

9.231.000,-

Current liabilities to credit institutions

1.892.000,-

Income and social tax liabilities

62.000,-

 

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

Total operating income/revenue

23.586.000,-

Main revenue (sales/turnover)

23.528.000,-

Total operating expenses

-23.720.000,-

Cost of materials (type of expenditure format)

22.937.000,-

Cost of goods sold (operational format)

23.720.000,-

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

-134.000,-

Personnel costs

210.000,-

Depreciation

72.000,-

Operating profit or loss

-134.000,-

Financial income

331.000,-

Financial expenses

-170.000,-

Result of ordinary operations

27.000,-

Extraordinary income

4.000,-

Extraordinary result

31.000,-

Taxes

-13.000,-

Net profit or loss

18.000,-

Borrowing ratio

1050,87 %

Current ratio

112,96 %

Debt gearing

76,95 %

Profit margin.

-0,26 %

Quick ratio

31,51 %

Return on assets

1,79 %

Return on equity.

1,55 %

Solidity or equity ratio

8,68 %

 

 

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.

 

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