MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
Wurfbain Nordmann B.V. |
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Registered Office : |
Mahoniehout 24, 1507 ED
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01/01/1897 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale business in synthetic and
natural rubber and latex. |
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 : |
Average 20 days beyond terms |
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Litigation : |
Clear |
name & address
Wurfbain Nordmann
B.V.
Mahoniehout 24
1507 ED
Tel.:+31
(0)75-6810810
Fax.:+31
(0)75-6705296
Legal status
BV Private Company Ltd. acc. nat. law
Founded
01/01/1897, Ltd. since 01/01/1985
Trade register
35021270
Capital
nominal EUR 13.500.000,--
issued and paid up EUR 5.760.000,--
Management
A.A. van Feggelen, born 22/08/1949,
Molenstraat 4, 1655 KC SIJBEKARSPEL
Activity
Wholesale business in synthetic and natural
rubber and latex.
Staff
31 employees
Net turnover:
2006
US Dollar 252.063.178
2005
US Dollar 196.296.620
2004
US Dollar 177.593.008
Real estate
The business premises at the mentioned
address has been rented by the company, as far as we know.
See balance sheet
Remarks
Net result:
2006 US Dollar 6.145.710
2005 US Dollar 2.202.408
2004 US Dollar 3.776.088
The shareholders equity was as of:
31/12/2006 US Dollar 21.492.403
31/12/2005 US Dollar 17.746.693
31/12/2004 US Dollar 15.672.266
The working capital was
as of:
31/12/2006 US Dollar 16.785.306
31/12/2005 US Dollar 14.022.895
31/12/2004 US Dollar 10.403.861
Parent company:
RCMA Commodities Asia PTE Ltd,
Website: http:/www.wurfbain.com/
Subject matter is accredited under NEN ISO norm 9002.
Subsidiary, according to the 2005 accounts:
L. Wurfbain & Co Sdn Bhd (100%)
Nr Natural Rubber Resourses Sdn Bhd 100%
Wurfbain Nordmann GmbH 100%
RCMA Americus Inc. 100%
Banks
Fortis Bank,
ING Bank,
VAT-nr.
NL007721468B01
Mode of payment
On average 20 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 :
Wurfbain Nordmann
B.V.
Mahoniehout 24, 1507
ED
Trade register 35021270
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Wurfbain
Nordmann B.V. *** BALANCE SHEET ***
Corporate
in US Dollar(x 1) US Dollar(x 1)
---31-12-2005--- ------31-12-2006---
Intangible
assets 0 0
Tangible
assets 147.548 569.411
Financial
assets 11.507.085 10.165.422
Miscellaneous
fixed assets 0 0
Total fixed assets 11.654.633 10.734.833
Stock 23.669.408 33.569.530
Receivables 31.737.208 36.864.443
Shares 0 0
Liquid
assets 171.942 823.002
Miscellaneous
current assets 0 0
Total current assets 55.578.558 71.256.975
Shareholders equity 17.746.693 21.492.403
Provisions 3.278.994 3.585.420
Long-term
liabilities 4.651.841 2.442.316
Current
liabilities 41.555.663 54.471.669
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 67.233.191 81.991.808
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Wurfbain
Nordmann B.V. *** PROFIT & LOSS ACCOUNT ***
Corporate
in US Dollar(x 1) US Dollar(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 196.296.620 252.063.178
Other
income 0 786.220
Total
expenses 192.443.987 244.163.737
Operating
profit 3.852.633 8.685.661
Balance
financial P/L -2.576.444 -3.083.197
Net
profit/loss 1] 1.276.189 5.602.464
Taxation 200.699 1.012.561
Share
in P/L of subsidiaries 1.126.918 0
Net
profit/loss 2] 2.202.408 4.589.903
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary
P/L 2] 0 0
Res.
sub. companies 2] 0 1.555.807
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 2.202.408 6.145.710
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Legend
: 1] = Before tax
2] = After tax
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Wurfbain
Nordmann B.V. *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 26,4 26,2
Equity/outside
capital 35,9 35,5
LIQUIDITY
Current
ratio 1,3 1,3
Acid
test 0,8 0,7
RATES
OF RETURN %
Total
assets 1,9 6,8
Shareholders equity 7,2 26,1
Pre
tax margin % 0,7 2,2
Turnover
rate 292 307,4
(x 1) (x 1)
-------------------- - -------------------
Working
capital 14.022.895 16.785.306
Shareholders equity + Equalization acc. 17.746.693 21.492.403
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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. |
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%)