MIRA
INFORM REPORT
|
Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SUNNY GEMS BVBA |
|
|
|
|
Registered Office : |
Schupstraat 1-7 2018
Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
11.02.1985 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Import and Export of Raw and Polished Diamonds. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Sunny Gems
Bvba
Schupstraat 1-7
2018 ANTWERPEN
Tel.:+32
(0)3-2251269
Fax.:+32
(0)3-2261325
Legal status
Private limited company
Founded
11/02/1985, BVBA since 01/06/1985
Trade register
52245959
Capital
Nominal EUR 19.000,--
Issued and paid up EUR 19.000,--
Management
Mukesh Rashiklal, Belgielei 112, 2018 ANTWERPEN
Activity
Import and export of raw and polished
diamonds.
Staff
One employee
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 75.120
2005 Euro 74.449
The
shareholders equity was as of:
31/12/2006 Euro 480.289
31/12/2005 Euro 67.087
The working
capital was as of:
31/12/2006 Euro 414.970
31/12/2005 Euro (7.878)
Import : India
Export : Hong Kong, India and Singapore
Banks
not known
VAT-nr.
BE427205816
Mode of payment
Within terms
Credit demand
No objections against entering into a business relationship.
The
following financial data is retrieved from the corporate balance sheet of :
Sunny Gems Bvba
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 71.263 67.247
Financial assets 3.702 3.702
Miscellaneous
fixed assets 0 0
Total fixed assets 74.965 70.949
Stock 1.305.711 1.736.538
Receivables 1.131.198 1.350.688
Shares 0 0
Liquid assets 310.436 342.110
Miscellaneous
current assets 12.382 12.975
Total current
assets 2.759.727 3.442.311
Shareholders equity 67.087 480.289
Provisions 0 0
Long-term
liabilities 0 0
Current
liabilities 2.767.605 3.027.341
Minority interests 0 0
Miscellaneous
liabilities 0 5.630
Total liabilities 2.834.692 3.513.260
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 0 0
Other income 0 0
Total expenses 0 0
Operating profit 242.350 31.210
Balance financial
P/L -164.960 62.524
Net profit/loss 1] 77.390 93.734
Taxation 2.916 18.589
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 74.474 75.145
Balance
extraordinary P/L -25 -25
Taxation 0 0
Extraordinary P/L
2] -25 -25
Res. sub.
companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 74.449 75.120
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 2,4 13,7
Equity/outside
capital 2,4 15,8
LIQUIDITY
Current ratio 1 1,1
Acid test 0,5 0,6
RATES OF RETURN %
Total assets 2,7 2,7
Shareholders equity 115,4 19,5
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital -7.878 414.970
Shareholders equity + Equalization acc. 67.087 480.289
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%)