MIRA INFORM REPORT

 

 

 

Report Date :

23.08.2008

 

IDENTIFICATION DETAILS

 

Name :

AREFONTE CHEMICALS GRUPP OSAÜHING

 

 

Formerly Known As :

F CHEMICALS GRUPP OU

 

 

Registered Office :

Kopli 103, 11712 Tallin

 

 

Country :

Estonia

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

04.08.2006

 

 

Com. Reg. No.:

No. 11278017

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of solid, liquid and gaseous fuels and related products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

name

 

 

AREFONTE CHEMICALS GRUPP OSAÜHING

International Name: Arefonte Chemicals Group Llc


Principal Address

Kopli 103
11712 Tallinn
Estonia
Tel: +372-6102408
Fax: +372-6102999
Email: info@arefonte.ee
Internet: www.bsr.ee


Registered office

Kopli 103
11712 TALLIN
Estonia

 

                                
Former company names

F Chemicals Grupp OU, valid since 04.08.2006 valid until 21.08.2006

 

 

ICON number

 

74691640

 

National ID

 

11278017

 

VAT number

 

EE101077437

 

Contact with company

 

No contact with company possible

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

 

 

Payment Practices:

No payment experience of any importance is available.

 

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS

 

 

 

Established:

2006

 

 

 

Registration:

No. 11278017
04.08.2006
Harju Country Court, Estonia

 

 

 

Legal Form:

04.08.2006
Limited Liability Company

 

 

 

Capital:

Nominal capital:

 

EEK 40.000,00

since 04.08.2006

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

BLRT Grupp AS

Shareholder

 

70,00%

DRIGIN Oleg
Nationality: EE

Shareholder

 

30,00%

 

 

 

Management:

Full Name

Function

Address

BERMAN Mark
Nationality: EE

Member of the executive board (signature right)

 

DRIGIN Oleg
Nationality: EE

Member of the executive board (signature right)

 

 

 

 

KEY DATA ON OPERATIONS

 

 

 

Subject of Operation:

NACE
  5151 Wholesale of solid, liquid and gaseous fuels and related products

As at Commercial Register:
- Wholesale
- Purchase, sales, mediation, administration of real estate
- Marketing services & economic researches

 

 

 

Key Data:

Amounts shown in Estonian krona (EEK)

 

2006

Sales revenue

30.181.112

TOTAL OWNERS' EQUITY

-349.198

Liabilities

48.177.964

Loss after taxation

389.198

 

 

 

Workforce:

 

2006

Total workforce

2

 

 

 

Exports:

 

India, Mali, China, Taiwan, Province of China, Saint Vincent and the Grenadines, Canada, Hong Kong, Malaysia, Thailand

 

 

 

Major Suppliers:

BLRT Grupp AS (EE)

 

 

 

 

 

FINANCIAL INFORMATION

 

 

 

Financials:

Amounts shown in Estonian krona (EEK) 

2006

 


BALANCE SHEET

 

ASSETS

 

Current assets

 

Cash at bank and in hand

3.822.480,00

 

Accounts receivable

14.917.863,00

 

Prepayments

15.548,00

 

Inventories

29.072.875,00

 

TOTAL CURRENT ASSETS

47.828.766,00

 


Non-current assets

 

TOTAL ASSETS

47.828.766,00

 


LIABILITIES AND OWNERS' EQUITY

 

Current liabilities

 

Short-term loans and notes

27.169.947,00

 

Trade debts

20.932.045,00

 

Due to employees

44.648,00

 

Taxes payable

31.324,00

 

TOTAL CURRENT LIABILITIES

48.177.964,00

 


Non-current liabilities

 

TOTAL LIABILITIES

48.177.964,00

 


OWNERS' EQUITY

 

Share capital

40.000,00

 

Net profit (loss) for the current year

-389.198,00

 

TOTAL OWNERS' EQUITY

-349.198,00

 

TOTAL LIABILITIES AND OWNERS' EQUITY

47.828.766,00

 


Income statement /scheme 2/

 

Sales revenue

30.181.112,00

 

Cost of sales (goods, services)

28.342.092,00

 

Gross profit

1.839.020,00

 

Sales expenses

1.419.063,00

 

Administrative expenses

242.236,00

 

Other income

106.764,00

 

Other expenses

876.198,00

 

Operating profit (-loss)

-591.713,00

 

Total financial income and expenses

202.515,00

 

Profit (loss) from ordinary activities

-389.198,00

 

Profit (loss) before income tax

-389.198,00

 

Net profit (loss) for financial year

-389.198,00

 

 

Approximate Exchange Rates:

2007: 15,6466 EEK = 1 EUR
2006: 15,6466 EEK = 1 EUR
2005: 15,6466 EEK = 1 EUR
2004: 15,6466 EEK = 1 EUR
2003: 15,6466 EEK = 1 EUR
2007: 10,6382 EEK = 1 USD
2006: 11,8818 EEK = 1 USD
2005: 13,2206 EEK = 1 USD
2004: 11,4711 EEK = 1 USD
2003: 12,4096 EEK = 1 USD

 

 

 

Ratios:

 

2006

Current ratio
(Short term assets / Short term liabilities)

0,99

Quick ratio
[(Short term assets - Inventory) / Short term liabilities]

0,39

Return on equity (ROE), in %
(Profit after taxation / Equity capital)*100

111,45

Return on sales ( ROS ), in%
(Profit after taxation / Sales)*100

-1,29

Return on assets ( ROA ), in%
(Profit after taxation / Total assets)*100

-0,81

Net working capital
Current assets - Short term liabilities

-349.198

Debt-to-equity ratio
Amounts payable and liabilities / Equity

-137,97

Debt Ratio
Liabilities / Total Assets

1,01

Leverage
Equity / Total assets

-0,01

Sales to Total assets
Turnover / Total Assets

0,63

Current assets turnover, %
Turnover / Current assets * 100

0,63

 



 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.38

UK Pound

1

Rs.81.34

Euro

1

Rs.64.52

 

 

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