MIRA
INFORM REPORT
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Report Date : |
26.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MINESTAR BVBA |
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Registered Office : |
Hoveniersstraat 12 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
17.02.1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing of and Trade in Unpolished and Polished 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 : |
No Complaints |
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Litigation : |
Clear |
name & address
Minestar Bvba
Hoveniersstraat 12
2018 ANTWERPEN
Tel.:+32
(0)3-2330666
Fax.:+32
(0)3-2330666
Legal status
Private limited company
Founded
17/02/1999 as BVBA
Trade register
52333448
Capital
Nominal EUR 18.600,--
Issued and paid up EUR 18.600,--
Activity
Processing of and trade in unpolished and
polished diamonds.
Staff
1 employee.
Turnover
Net turnover:
2006 Euro 2.743.422
2005 Euro 2.186.643
2004 Euro 1.785.566
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 5.564
2005 Euro 2.694
2004 Euro 663
The shareholders equity was as of:
31/12/2006 Euro 35.822
31/12/2005 Euro 30.259
31/12/2004 Euro 27.565
The working capital was as of:
31/12/2006 Euro (19.229)
31/12/2005 Euro (27.974)
31/12/2004 Euro (32.965)
Bankers:
Antwerpse Diamantbank
The administration is done by:
Panis, Hendrickx & Co., Hoveniersstraat 40, bus 2, Antwerpen
Banks
Not known
VAT-nr.
BE465467564
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 :
Minestar
Bvba
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 58.233 55.051
Financial assets 0 0
Miscellaneous
fixed assets 0 0
Total fixed assets 58.233 55.051
Stock 296.745 536.635
Receivables 480.302 249.484
Shares 0 0
Liquid assets 402.057 339.616
Miscellaneous
current assets 0 2.673
Total current
assets 1.179.104 1.128.408
Shareholders equity 30.259 35.822
Provisions 0 0
Long-term
liabilities 0 0
Current
liabilities 1.207.078 1.147.637
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 1.237.337 1.183.459
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 2.186.643 2.743.422
Other income 0 0
Total expenses 2.117.325 2.731.485
Operating profit 69.318 11.937
Balance financial
P/L -66.472 -4.522
Net profit/loss 1] 2.846 7.415
Taxation 1.518 1.851
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 1.328 5.564
Balance
extraordinary P/L 1.366 0
Taxation 0 0
Extraordinary P/L
2] 1.366 0
Res. sub.
companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 2.694 5.564
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 2,4 3
Equity/outside
capital 2,5 3,1
LIQUIDITY
Current ratio 1 1
Acid test 0,7 0,5
RATES OF RETURN %
Total assets 0,2 0,6
Shareholders equity 9,4 20,7
Pre tax
margin % 0,1 0,3
Turnover rate 176,7 231,8
(x
1) (x 1)
-------------------- --------------------
Working capital -27.974 -19.229
Shareholders equity + Equalization acc. 30.259 35.822
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.23 |
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UK Pound |
1 |
Rs.83.88 |
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Euro |
1 |
Rs.66.41 |
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%)