MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DE JONG-COEN BV |
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Registered Office : |
'S-Gravelandseweg 390 3125 BK
Schiedam |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.08.1973 |
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Legal Form : |
BV Private Company Ltd. |
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Line of Business : |
Manufacture of Industrial
Burners and Combustion Equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 450.000 |
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Status : |
Good |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
name & address
De Jong-Coen BV
'S-Gravelandseweg
390
3125 BK SCHIEDAM
Tel.:+31
(0)10-4469222
Fax.:+31
(0)10-4154581
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
06/08/1973 as Ltd.
Trade
register
24220308
Capital
Nominal EUR 2.268.901,--
Issued and paid up EUR 680.670,--
Management
Hendricus Cornelis
Maria Soffers, born 02/03/1947,
Albert De Jong, born
05/05/1967,
Signatory
Johannes Hubertus
van Oijen, born 06/07/1957,
Activity
The manufacture of
industrial burners and combustion equipment.
Staff
110 employees
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 1.349.639
2005 Euro 483.918
The
shareholders equity was as of:
31/12/2007 Euro 2.710.979
31/12/2006 Euro 1.361.340
31/12/2005 Euro 1.361.340
The working
capital was as of:
31/12/2007 Euro 3.065.465
31/12/2006 Euro 1.597.634
31/12/2005 Euro 1.512.384
Correspondence
address:
Postbus 5
3100 AA SCHIEDAM
Import : the USA
Export :
worldwide
Shareholders:
50% Coen
Company Inc, Burlingame, CA (USA).
50% A. De Jong BV, Schiedam.
Consolidated
turnover is said to be around EUR 70.000.000,-
per year.
Subject
works together with bigger names, such as
Shell,
Exxon, Monsanto, Dow Chemicals and DuPont.
Banks
Rabobank, 12.54.34.871
VAT-nr.
NL001886319B01
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 450.000 is advised
The following financial data is retrieved from
the corporate balance sheet of :
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 0 0
Tangible assets 0 0
Financial assets 148.706 165.514
Miscellaneous
fixed assets 0 0
Total fixed assets 148.706 165.514
Stock -1.050.996 -3.874.580
Receivables 6.627.024 8.232.652
Shares 0 0
Liquid assets 357.674 3.182.802
Miscellaneous current assets 0 0
Total current assets 5.933.702 7.540.874
Shareholders
equity 1.361.340 2.710.979
Provisions 385.000 520.000
Long-term liabilities 0 0
Current liabilities 4.336.068 4.475.409
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 6.082.408 7.706.388
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 0 0
Other income 0 0
Total expenses 0 0
Operating profit 65.252 1.765.486
Balance financial P/L -75.002 -11.769
Net profit/loss 1] -9.750 1.753.717
Taxation 0 420.886
Share in P/L of subsidiaries 9.750 16.808
Net profit/loss 2] 0 1.349.639
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 0 1.349.639
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 22,4 35,2
Equity/outside
capital 28,8 54,3
LIQUIDITY
Current ratio 1,4 1,7
Acid test 1,6 2,6
RATES OF RETURN %
Total assets -0,2 22,8
Shareholders equity -0,7 64,7
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital 1.597.634 3.065.465
Shareholders equity + Equalization acc. 1.361.340 2.710.979
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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%)