MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
STAR ASIA GEMS |
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Registered Office : |
Belgielei 40 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 : |
25.10.2000 |
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Com. Reg. No.: |
341880, ANTWERPEN |
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Legal Form : |
Private Company With
Limited Liability |
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Line of Business : |
Wholesale of
Miscellaneous Intermediate Products |
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
STAR ASIA GEMS
BELGIELEI 40
2018 ANTWERPEN BE
Tel. Number
+32-3-2811053
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Business founded |
25 October 2000 |
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Business registered |
08 December 2000 -
Private company with limited liability |
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Registration number, |
341880, ANTWERPEN, |
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VAT number, |
BE473191338, |
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Legal form |
Private company with
limited liability |
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Activities |
Wholesale of miscellaneous
intermediate products |
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Payment experience |
no complaints have been
registered |
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Credit opinion |
Credit opinion |
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Cash situation (balance
sheet analysis) : Good |
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Profitability (balance
sheet analysis) : Low |
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Commitments (regarding
contractual obligations) : Currently fulfilled |
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Payment defaults : None |
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Total share capital31 December 2006 |
EUR 19000,00 |
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Bank |
BANQUE DIAMANTAIRE ANVERSOISE |
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Board members |
KOTHARI NISHIL PARESHBHAI Manager |
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KOTHARI PARESH BAGMAILBHAI Manager |
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PARIKH VIJAY MAHENDRAKUMAR Manager |
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Management |
KOTHARI NISHIL PARESHBHAI Partner |
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KOTHARI PARESH BAGMAILBHAI Partner |
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PARIKH VIJAY MAHENDRAKUMAR Partner |
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KOTHARI PARESH BAGMAILBHAI Director |
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KOTHARI NISHIL PARESHBHAI Director |
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The business owns or
partly owns one or more pieces of land and buildings? Yes(Property)
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Turnover for the
period: 00 0000 - 31 December 2006 in EUR 2.375.439,00 |
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Not consolidated
profit and loss turnover of the business: |
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Corporate balance sheet
for the year: 00 0000 - 31 December 2006 in EUR |
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Total assets incl.
prepaid expenses and accrued income |
837.209,- |
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Total Current assets |
837.209,- |
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Inventories and work in
progress (incl. prepayments) |
123.613,- |
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Accounts receivable (trade) |
695.893,- |
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Cash in hand and at bank |
17.703,- |
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Total equity, provisions,
liabilities, accrued expenses and deferred income |
837.209,- |
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Total equity (Shareholders' funds) |
25.731,- |
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Issued (subscribed) capital |
19.000,- |
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Profit reserves |
6.301,- |
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Legal reserves |
430,- |
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Total liabilities |
811.478,- |
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Total current liabilities |
811.478,- |
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Current accounts payable (trade) |
455.509,- |
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Income and social tax liabilities |
18.168,- |
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Corporate profit and loss account for the year: 00 0000 - 31
December 2006 in EUR |
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Main revenue (sales/turnover) |
2.375.439,- |
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Cost of goods sold (operational format) |
2.366.873,- |
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Operating profit or loss |
8.566,- |
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Financial expenses |
2.246,- |
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Result of ordinary operations |
6.320,- |
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Extraordinary result |
6.320,- |
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Taxes |
1.902,- |
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Net profit or loss |
4.418,- |
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Borrowing ratio |
3153,70 % |
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Current ratio |
103,17 % |
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Profit margin. |
0,36 % |
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Quick ratio |
87,93 % |
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Return on assets |
1,02 % |
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Return on equity. |
17,16 % |
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Solidity or equity ratio |
3,07 % |
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Turnover for the period: 00 0000 - 31 December 2005 in
EUR 2.546.535,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate balance sheet for the year: 00 0000 - 31 December
2005 in EUR |
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Total assets incl. prepaid expenses and accrued income |
769.105,- |
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Total Current assets |
769.105,- |
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Accounts receivable (trade) |
764.676,- |
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Cash in hand and at bank |
4.429,- |
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Total equity, provisions, liabilities, accrued expenses and deferred income |
769.105,- |
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Total equity (Shareholders' funds) |
21.313,- |
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Issued (subscribed) capital |
19.000,- |
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Profit reserves |
2.133,- |
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Legal reserves |
180,- |
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Total liabilities |
747.792,- |
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Total current liabilities |
747.792,- |
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Current accounts payable (trade) |
373.592,- |
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Income and social tax liabilities |
1.847,- |
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Corporate profit and loss account for the year: 00 0000 - 31
December 2005 in EUR |
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Main revenue (sales/turnover) |
2.546.535,- |
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Cost of goods sold (operational format) |
2.550.832,- |
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Operating profit or loss |
-4.297,- |
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Financial income |
300.973,- |
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Financial expenses |
-290.269,- |
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Result of ordinary operations |
6.407,- |
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Extraordinary result |
6.407,- |
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Taxes |
-1.200,- |
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Net profit or loss |
5.207,- |
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Borrowing ratio |
3508,62 % |
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Current ratio |
102,85 % |
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Profit margin. |
-0,16 % |
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Quick ratio |
102,85 % |
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Return on assets |
38,57 % |
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Return on equity. |
24,43 % |
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Solidity or equity ratio |
2,77 % |
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Turnover for the period: 00 0000 - 31 December 2004 in
EUR 1.590.364,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate balance sheet for the year: 00 0000 - 31 December
2004 in EUR |
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Total assets incl. prepaid expenses and accrued income |
477.409,- |
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Total Current assets |
477.409,- |
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Accounts receivable (trade) |
475.081,- |
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Cash in hand and at bank |
2.328,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
477.409,- |
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Total equity (Shareholders' funds) |
16.106,- |
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Issued (subscribed) capital |
19.000,- |
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Profit or loss carried forward |
-2.894,- |
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Total liabilities |
461.303,- |
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Total current liabilities |
461.303,- |
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Current accounts payable (trade) |
137.660,- |
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Corporate profit and loss account for the year: 00 0000 - 31
December 2004 in EUR |
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Main revenue (sales/turnover) |
1.590.364,- |
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Cost of goods sold (operational format) |
1.591.698,- |
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Operating profit or loss |
-1.334,- |
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Financial income |
167.391,- |
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Financial expenses |
-163.542,- |
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Result of ordinary operations |
2.515,- |
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Extraordinary result |
2.515,- |
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Net profit or loss |
2.515,- |
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Borrowing ratio |
2864,17 % |
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Current ratio |
103,49 % |
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Profit margin. |
-0,08 % |
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Quick ratio |
103,49 % |
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Return on assets |
34,78 % |
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Return on equity. |
15,61 % |
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Solidity or equity ratio |
3,37 % |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)