MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
GEMOLOGICAL
LABORATORY OF |
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Registered Office : |
Hoveniersstraat 51 2018
Antwerpen |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
28.09.1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale Business in
Diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Gemological Laboratory of
Hoveniersstraat 51
2018 ANTWERPEN
Tel.:+32
(0)3-2317646
Fax.:+32
(0)3-2271889
Legal
status
Private limited company
Founded
Not known, BVBA since
28/09/1996
Trade
register
52318070
Capital
Nominal EUR 18.592,--
Issued and paid up EUR 18.592,--
Management
Samuel Katz, Avenue Chateau de Walzin 10-A,
1180 Ukkel
Activity
Wholesale business
in diamonds.
Staff
1 employee.
Turnover
Net turnover:
2005 Euro 2.221.603
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:
2006 Euro 25.019
2005 Euro 25.662
2004 Euro 29.111
The
shareholders equity was as of:
31/12/2006 Euro 29.350
31/12/2005 Euro 28.831
31/12/2004 Euro 28.669
The working
capital was as of:
31/12/2006 Euro 24.822
31/12/2005 Euro 24.357
31/12/2004 Euro 26.208
Short form
name:
Gemlab of
Banks
not known
VAT-nr.
BE458574329
Mode
of payment
No complaints have been
registered
Credit
demand
No objections against entering
into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Gemological Laboratory of
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 179 119
Tangible assets 4.295 4.409
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed assets 4.474 4.528
Stock 79.522 155.088
Receivables 300.172 384.349
Shares 0 0
Liquid assets 104.459 78.828
Miscellaneous current assets 0 2.157
Total current assets 484.153 620.422
Shareholders
equity 28.831 29.350
Provisions 0 0
Long-term liabilities 0 0
Current liabilities 459.796 595.600
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 488.627 624.950
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 2.221.603 0
Other income 0 0
Total expenses 2.189.660 0
Operating profit 31.943 31.336
Balance financial P/L -5.368 -4.187
Net profit/loss 1] 26.575 27.149
Taxation 1.275 2.105
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 25.300 25.044
Balance extraordinary P/L 362 -25
Taxation 0 0
Extraordinary P/L 2] 362 -25
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 25.662 25.019
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 5,9 4,7
Equity/outside capital 6,3 4,9
LIQUIDITY
Current ratio 1,1 1
Acid test 0,9 0,8
RATES OF RETURN %
Total assets 5,4 4,3
Shareholders
equity 92,2 92,5
Pre tax margin
% 1,2 0
Turnover rate 454,7 0
(x
1) (x 1)
-------------------- --------------------
Working capital 24.357 24.822
Shareholders
equity + Equalization acc. 28.831 29.350
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
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%)