MIRA INFORM REPORT

 

 

Report Date :

23.01.2008

 

IDENTIFICATION DETAILS

 

Name :

OIL & GAS SOURCING

 

 

Registered Office :

15 Rue Jean Poulmarch  95100 Argenteuil 

 

 

Country :

France

 

 

Financials (as on) :

30.09.2006

 

 

Date of Incorporation :

01.04.2003

 

 

Com. Reg. No.:

04B02756, PONTOISE

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Wholesale of Miscellaneous Machinery for use in Industry, Trade and Navigation

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

60000 EUR

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name and address of the company

 

OIL & GAS SOURCING

15 RUE JEAN POULMARCH

 95100 ARGENTEUIL FR

Tel. Number +33-1-39811798

 

 

Business founded

01 April 2003

Business registered

09 April 2003 - Public limited company (no information regarding quotation)

Registration number,

04B02756, PONTOISE,

Alternative tradename(s),

OGS,

party identification,

448021758,

Legal form

Public limited company (no information regarding quotation)

Activities

Wholesale of miscellaneous machinery for use in industry, trade and navigation

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 60000 EUR is advised

 

The export volume in percentage of total sales for the company.  31,86

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Low 

 

Commitments (regarding contractual obligations) : Fulfilled („respectés“) 

 

Payment defaults : None 

Employees (Business)

 4

Total number of shareholders

 3

Total share capital11 March 2007

EUR 250000

Bank

HSBC ARGENTEUIL BP ARGENTEUIL   

Board members

PHILIPPE DENIS   President

(Part-) Owner

453261307   GLOBAL VALVES SERVICES   33,34 %   

 

MR BOUSSOUAR NADIR   33,32 %   

 

MR PHILIPPE DENIS   33,32 %   

 

 

The business owns or partly owns one or more pieces of land and buildings?  No (Property) 

 

Turnover for the period: 00 0000 - 30 September 2006  in  EUR 4.315.727,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 September 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.714.130,-

Total fixed assets

40.919,-

Total intangible fixed assets

3.800,-

Total tangible fixed assets

30.252,-

Total financial fixed assets

6.867,-

Loans, shares and participations

450,-

Total Current assets

1.673.211,-

Accounts receivable (trade)

1.248.174,-

Investments (short-term)

101.286,-

Cash in hand and at bank

32.902,-

Total accrued income and prepaid expenses

9.848,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.714.130,-

Total equity (Shareholders' funds)

270.564,-

Issued (subscribed) capital

200.000,-

Legal reserves

516,-

Profit or loss for the previous year

73.732,-

Profit or loss for the financial year

70.047,-

Total liabilities

1.443.566,-

Total long-term liabilities

84.435,-

Long-term Loans, Mortgage debts

66.069,-

Long-term liabilities to credit institutions

18.366,-

Total current liabilities

1.359.129,-

Current accounts payable (trade)

1.196.367,-

Income and social tax liabilities

112.529,-

Borrowing ratio

533,54 %

Current ratio

123,11 %

Debt gearing

31,21 %

Profit margin.

2,46 %

Quick ratio

123,11 %

Return on assets

6,20 %

Return on equity.

25,89 %

Solidity or equity ratio

15,78 %

 

Corporate profit and loss account for the year: 00 0000 - 30 September 2006  in  EUR 

Total operating income/revenue

4.328.052,-

Main revenue (sales/turnover)

4.315.727,-

Total operating expenses

4.221.840,-

Cost of materials (type of expenditure format)

3.410.105,-

Personnel costs

240.581,-

Depreciation

9.144,-

Operating profit or loss

106.211,-

Financial income

13.658,-

Financial expenses

23.281,-

Result of ordinary operations

96.589,-

Extraordinary income

33.899,-

Extraordinary expenses

28.530,-

Extraordinary result

5.369,-

Pre-tax and pre-appropriation profit or loss

96.588,-

Taxes

31.910,-

Net profit or loss

70.047,-

 

Turnover for the period: 00 0000 - 30 September 2005  in  EUR 3.229.369,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 September 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.456.208,-

Total fixed assets

45.542,-

Total intangible fixed assets

4.707,-

Concessions and industrial rights, goodwill

907,-

Total tangible fixed assets

33.969,-

Total financial fixed assets

6.867,-

Loans, shares and participations

450,-

Total Current assets

1.410.666,-

Accounts receivable (trade)

1.137.188,-

Investments (short-term)

34.998,-

Cash in hand and at bank

28.842,-

Total accrued income and prepaid expenses

978,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.456.208,-

Total equity (Shareholders' funds)

200.516,-

Issued (subscribed) capital

100.000,-

Legal reserves

1.500,-

Profit or loss carried forward

12.634,-

Profit or loss for the previous year

97.649,-

Profit or loss for the financial year

73.732,-

Total liabilities

1.255.692,-

Total long-term liabilities

67.499,-

Long-term Loans, Mortgage debts

35.844,-

Long-term liabilities to credit institutions

31.655,-

Total current liabilities

1.188.191,-

Current accounts payable (trade)

1.044.997,-

Income and social tax liabilities

142.844,-

Borrowing ratio

626,23 %

Current ratio

118,72 %

Debt gearing

33,66 %

Profit margin.

3,20 %

Quick ratio

118,72 %

Return on assets

7,09 %

Return on equity.

36,77 %

Solidity or equity ratio

13,77 %

 

Corporate profit and loss account for the year: 00 0000 - 30 September 2005  in  EUR 

Total operating income/revenue

3.242.522,-

Main revenue (sales/turnover)

3.229.369,-

Total operating expenses

3.139.280,-

Cost of materials (type of expenditure format)

2.525.848,-

Personnel costs

132.866,-

Depreciation

15.480,-

Operating profit or loss

103.242,-

Financial income

4,-

Financial expenses

18.706,-

Result of ordinary operations

84.540,-

Extraordinary income

32.959,-

Extraordinary expenses

8.731,-

Extraordinary result

24.228,-

Pre-tax and pre-appropriation profit or loss

84.540,-

Taxes

35.036,-

Net profit or loss

73.732,-

 

Turnover for the period: 00 0000 - 30 September 2004  in  EUR 1.803.534,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 September 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.049.852,-

Outstanding deposit on the subscribed capital, from which amount called

5.458,-

Total fixed assets

22.026,-

Total intangible fixed assets

9.476,-

Total tangible fixed assets

9.509,-

Land and buildings

9.509,-

Total financial fixed assets

3.040,-

Loans, shares and participations

3.040,-

Total Current assets

1.027.826,-

Accounts receivable (trade)

506.379,-

Total accrued income and prepaid expenses

25.946,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.049.852,-

Total equity (Shareholders' funds)

126.783,-

Issued (subscribed) capital

15.000,-

Legal reserves

1.500,-

Profit or loss carried forward

12.634,-

Profit or loss for the financial year

97.649,-

Total liabilities

923.068,-

Total long-term liabilities

31.133,-

Long-term liabilities to credit institutions

31.133,-

Total current liabilities

891.935,-

Current accounts payable (trade)

733.785,-

Borrowing ratio

728,07 %

Current ratio

115,24 %

Debt gearing

24,56 %

Profit margin.

8,06 %

Quick ratio

115,24 %

Return on assets

13,85 %

Return on equity.

77,02 %

Solidity or equity ratio

12,08 %

 

Corporate profit and loss account for the year: 00 0000 - 30 September 2004  in  EUR 

Total operating income/revenue

1.804.032,-

Main revenue (sales/turnover)

1.803.534,-

Total operating expenses

1.658.619,-

Cost of materials (type of expenditure format)

1.308.170,-

Personnel costs

72.228,-

Depreciation

3.922,-

Operating profit or loss

145.413,-

Financial income

1.405,-

Financial expenses

5.361,-

Result of ordinary operations

145.413,-

Extraordinary expenses

33,-

Taxes

43.775,-

Net profit or loss

97.649,-

 

 

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