MIRA INFORM REPORT

 

 

Report Date :

04.09.2007

 

IDENTIFICATION DETAILS

 

Name :

SMOLENSK DIAMONDS

 

 

Registered Office :

Hoveniersstraat 53 B.105, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

09 November 1992

 

 

Com. Reg. No.:

292941

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

name & address

 

SMOLENSK DIAMONDS

HOVENIERSSTRAAT 53 B.105

2018 ANTWERPEN BE

Tel. Number       +32-3-2319808

Fax number       +32-3-2327779

 

 

Business founded

09 November 1992

Business registered

20 November 1992 - Private company limited by shares

Registration number,

292941, ANTWERPEN,

VAT number,

BE448601046,

Legal form

Private company limited by shares

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

 

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Low 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 1

Total share capital31 December 2006

EUR 240000,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

SHKADOV MAXIM    Deputy managing director

 

COHEN RAYMOND    Deputy boardmember

 

AFANASYEV NIKOLAY    Boardmember

Management

SSUC PC KRISTALL    Partner

 

TACHE COMPANY    Partner

 

SMOLENSK DIAMOND ISRAEL    Partner

 

VAN BOURGOGNIE PATRICK    Representative and auditor

Auditor

WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN    Auditors´ president

(Part-) Owner

404991430   TACHE COMPANY   0,02 %   

 

 

 

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 84.061.000,00

 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

29.032.000,-

Total fixed assets

1.016.000,-

Total tangible fixed assets

988.000,-

Land and buildings

912.000,-

Plant, machinery and equipment

72.000,-

Total financial fixed assets

28.000,-

Loans, shares and participations

23.000,-

Investments (long-term)

5.000,-

Total Current assets

28.016.000,-

Inventories and work in progress (incl. prepayments)

12.751.000,-

Accounts receivable (trade)

15.105.000,-

Cash in hand and at bank

150.000,-

Total accrued income and prepaid expenses

10.000,-

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

29.032.000,-

Total equity (Shareholders' funds)

444.000,-

Issued (subscribed) capital

240.000,-

Profit reserves

180.000,-

Legal reserves

24.000,-

Total liabilities

28.588.000,-

Total long-term liabilities

570.000,-

Long-term liabilities to credit institutions

570.000,-

Total current liabilities

28.011.000,-

Current accounts payable (trade)

27.794.000,-

Income and social tax liabilities

88.000,-

Total accrued expenses and deferred income

7.000,-

 

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

Total operating income/revenue

84.112.000,-

Main revenue (sales/turnover)

84.061.000,-

Total operating expenses

83.652.000,-

Cost of materials (type of expenditure format)

83.064.000,-

Cost of goods sold (operational format)

83.652.000,-

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

460.000,-

Personnel costs

43.000,-

Depreciation

25.000,-

Operating profit or loss

460.000,-

Financial income

45.000,-

Financial expenses

329.000,-

Result of ordinary operations

176.000,-

Extraordinary result

176.000,-

Taxes

49.000,-

Net profit or loss

127.000,-

Borrowing ratio

6438,74 %

Current ratio

99,99 %

Debt gearing

128,38 %

Profit margin.

0,57 %

Quick ratio

54,46 %

Return on assets

1,69 %

Return on equity.

28,60 %

Solidity or equity ratio

1,52 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 78.434.000,00

 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

17.877.000,-

Total fixed assets

487.000,-

Total tangible fixed assets

413.000,-

Land and buildings

378.000,-

Plant, machinery and equipment

28.000,-

Total financial fixed assets

74.000,-

Loans, shares and participations

69.000,-

Investments (long-term)

5.000,-

Total Current assets

17.390.000,-

Inventories and work in progress (incl. prepayments)

9.082.000,-

Accounts receivable (trade)

8.163.000,-

Cash in hand and at bank

136.000,-

Total accrued income and prepaid expenses

9.000,-

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

17.877.000,-

Total equity (Shareholders' funds)

1.453.000,-

Issued (subscribed) capital

1.200.000,-

Profit reserves

207.000,-

Legal reserves

46.000,-

Total liabilities

16.424.000,-

Total current liabilities

16.407.000,-

Current accounts payable (trade)

13.310.000,-

Current liabilities to credit institutions

2.797.000,-

Income and social tax liabilities

84.000,-

Total accrued expenses and deferred income

17.000,-

 

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

Total operating income/revenue

78.512.000,-

Main revenue (sales/turnover)

78.434.000,-

Total operating expenses

-78.195.000,-

Cost of materials (type of expenditure format)

77.838.000,-

Cost of goods sold (operational format)

78.195.000,-

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

317.000,-

Personnel costs

29.000,-

Depreciation

25.000,-

Operating profit or loss

317.000,-

Financial income

3.978.000,-

Financial expenses

-3.989.000,-

Result of ordinary operations

306.000,-

Extraordinary result

306.000,-

Taxes

-36.000,-

Net profit or loss

270.000,-

Borrowing ratio

1130,35 %

Current ratio

105,88 %

Profit margin.

0,26 %

Quick ratio

50,58 %

Return on assets

2,31 %

Return on equity.

18,58 %

Solidity or equity ratio

8,12 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 85.532.000,00

 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

17.073.000,-

Total fixed assets

510.000,-

Total tangible fixed assets

436.000,-

Land and buildings

392.000,-

Plant, machinery and equipment

35.000,-

Total financial fixed assets

74.000,-

Loans, shares and participations

69.000,-

Investments (long-term)

5.000,-

Total Current assets

16.563.000,-

Inventories and work in progress (incl. prepayments)

6.527.000,-

Accounts receivable (trade)

9.779.000,-

Cash in hand and at bank

246.000,-

Total accrued income and prepaid expenses

11.000,-

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

17.073.000,-

Total equity (Shareholders' funds)

1.294.000,-

Issued (subscribed) capital

1.200.000,-

Profit reserves

62.000,-

Legal reserves

32.000,-

Total liabilities

15.779.000,-

Total current liabilities

15.779.000,-

Current accounts payable (trade)

13.178.000,-

Current liabilities to credit institutions

2.423.000,-

Income and social tax liabilities

32.000,-

 

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

Total operating income/revenue

85.597.000,-

Main revenue (sales/turnover)

85.532.000,-

Total operating expenses

-85.506.000,-

Cost of materials (type of expenditure format)

85.074.000,-

Cost of goods sold (operational format)

85.506.000,-

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

91.000,-

Personnel costs

42.000,-

Depreciation

32.000,-

Operating profit or loss

91.000,-

Financial income

4.771.000,-

Financial expenses

-4.645.000,-

Result of ordinary operations

217.000,-

Extraordinary income

6.000,-

Extraordinary result

223.000,-

Taxes

-24.000,-

Net profit or loss

199.000,-

Borrowing ratio

1219,40 %

Current ratio

97,99 %

Profit margin.

-0,26 %

Quick ratio

56,55 %

Return on assets

-0,50 %

Return on equity.

15,37 %

Solidity or equity ratio

7,57 %

 

 

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