MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIMONI GEMS BVBA |
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Registered Office : |
Schupstraat 17, 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
14.02.2001 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The Trade in Polished and Raw Diamonds. |
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 : |
Regular |
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Litigation : |
Clear |
name & address
Simoni Gems BVBA
Schupstraat 17
2018 ANTWERPEN
Tel.:+32
(0)3-2260461
Legal status
Private limited company
Founded
14/02/2001 as BVBA
Trade register
99128575
Capital
Nominal EUR 19.000,--
Issued and paid up EUR 19.000,--
Management
-Milan Dineshchandra Shah, Quinten
Matsijslei 18, 2018 Antwerp.
Activity
The trade in polished and raw diamonds.
Staff
1 employee.
Turnover
Net turnover:
2007 Euro 15.041.000
2006 Euro 16.179.000
Real
estate
The business premises
at the mentioned address has been rented by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2007 Euro 25.000
2006 Euro 13.000
The
shareholders equity was as of:
30/06/2007 Euro 138.000
30/06/2006 Euro 112.000
The working
capital was as of:
30/06/2007 Euro 2.313.000
30/06/2006 Euro 2.561.000
Accountants
:
LMD &
Partners, Antwerp
Full
address:
Schupstraat
1 - 7 Bus 48 4th Floor,
2018 Antwerpen
Banks Fortis
Bank
VAT-nr.
BE474128575
Mode
of payment
Within terms
Credit
demand
No objections against
entering into a business relationship.
The
following financial data is retrieved from the corporate balance
sheet of :
Simoni
Gems BVBA
BALANCE SHEET
Corporate in Euro(x
1.000) Euro(x 1.000)
---30-06-2006--- ------30-06-2007---
Intangible assets 0 0
Tangible assets 239 238
Financial assets 0 1
Miscellaneous
fixed assets 0 0
Total fixed assets 239 239
Stock 1.533 2.396
Receivables 8.244 4.655
Shares 0 0
Liquid assets 43 34
Miscellaneous
current assets 1 0
Total current
assets 9.821 7.085
Shareholders equity 112 138
Provisions 0 0
Long-term
liabilities 2.688 2.414
Current
liabilities 7.260 4.772
Minority interests 0 0
Miscellaneous
liabilities 0
Total liabilities 10.060 7.324
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1.000) Euro(x 1.000)
---30-06-2006--- ------30-06-2007---
Turnover 16.179 15.041
Other income 10 0
Total expenses 15.929 14.768
Operating profit 260 273
Balance financial
P/L -239 -238
Net profit/loss 1] 21 35
Taxation 8 10
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 13 25
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 13 25
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 1,1 1,9
Equity/outside
capital 1,1 1,9
LIQUIDITY
Current ratio 1,4 1,5
Acid test 1,1 1
RATES OF RETURN %
Total assets 0,2 0,5
Shareholders equity 18,8 25,4
Pre tax
margin % 0,1 0,2
Turnover rate 160,8 205,4
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 2.561 2.313
Shareholders equity + Equalization acc. 112 138
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.28 |
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UK Pound |
1 |
Rs.82.79 |
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Euro |
1 |
Rs.65.69 |
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%)