MIRA
INFORM REPORT
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Report Date : |
16.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CONCORDIA TRADING B.V. |
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Registered Office : |
Willemsplein 492 3016 DR
Rotterdam |
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Country : |
Netherlands |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
07.07.1982 |
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Legal Form : |
BV Private Company
Limited |
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Line of Business : |
Wholesaler,
Importer and Exporter of Cereals, Grains, Vegetable Oils, etc. |
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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Maximum Credit Limit : |
EUR 300.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
name & address
Concordia Trading
B.V.
Willemsplein 492
3016 DR ROTTERDAM
Tel.:+31
(0)10-4331644
Fax.:+31
(0)10-4130388
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
07/07/1982 as Ltd.
Trade
register
24145844
Capital
Nominal EUR 11.375.000,--
Issued and paid up EUR 2.275.000,--
Management
Evert Schimmel, born
31/10/1954, Holevoetplein 280-A, 3925 CA SCHERPENZEEL GLD
J.J. Salzer Levi,
born 03/10/1954, Harstenhoekweg 208, 2587 RS DEN HAAG
Activity
Wholesale business
in cereals, grains, vegetable oils, etc. as well as the import/export of these.
Staff
1 employee.
Real estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
Finances
See enclosure.
Remarks
A declaration of liability has been issued by Nidera
Handelscompagnie BV.
According to the balance sheet of 2006 Nidera
Handelscompagnie BV is the sole shareholder. This is not on record at the
Chamber of Commerce.
General website : www.nidera.nl
Correspondence address:
Postbus 676
3000 AR
ROTTERDAM
Banks
ABN-AMRO NV, 42.33.46.245
ABN-AMRO NV, 53.05.81.973
VAT-nr.
NL006323741B01
Mode
of payment
On average 5 days
beyond terms.
Credit
demand
No objections
against entering into a business relationship.
A maximum credit
limit of EUR 300.000 is advised
The following
financial data is retrieved from the consolidated balance sheet of :
Nidera
Handelscompagnie BV
BALANCE
SHEET
Consolidated in US
Dollar(x 1.000) US Dollar(x
1.000)
---30-09-2005--- ------30-09-2006---
Intangible assets 3.000 2.700
Tangible assets 15.076 17.062
Financial assets 21.060 18.711
Miscellaneous fixed assets 0 0
Total fixed assets 39.136 38.473
Stock 227.928 323.903
Receivables 181.306 221.248
Shares 0 0
Liquid assets 8.509 10.708
Miscellaneous current assets 0 0
Total current assets 417.743 555.859
Shareholders
equity 124.111 145.673
Provisions 2.580 3.257
Long-term liabilities 4.054 3.565
Current liabilities 326.134 441.837
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 456.879 594.332
PROFIT
& LOSS ACCOUNT
Consolidated in US
Dollar(x 1.000) US Dollar(x
1.000)
---30-09-2005--- ------30-09-2006---
Turnover 0 0
Other income 0 0
Total expenses 54.105 66.305
Operating profit -25.617 29.446
Balance financial P/L 9.337 333
Net profit/loss 1] -16.280 29.779
Taxation -3.834 9.235
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -12.446 20.544
Balance extraordinary P/L 18 44
Taxation 0 0
Extraordinary P/L 2] 18 44
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result -12.428 20.588
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 27,2 24,5
Equity/outside
capital 37,3 32,5
LIQUIDITY
Current ratio 1,3 1,3
Acid test 0,6 0,5
RATES OF RETURN %
Total assets -3,6 5
Shareholders equity -13,1 20,4
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 91.609 114.022
Shareholders equity + Equalization acc. 124.111 145.673
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%)