MIRA INFORM REPORT

 

 

Report Date :

05.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

SHWEDIAM BVBA

 

 

Registered Office :

Hoveniersstraat 30, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

11th April 1989

 

 

Com. Reg. No.:

269571, Antwerpen

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

name & address

 

SHWEDIAM

HOVENIERSSTRAAT 30

2018 ANTWERPEN BE

Tel. Number                                      +32-3-2268145

Fax number                                      +32-3-2268148

 

 

Business founded

11 April 1989

Business registered

02 May 1989 - Private company with limited liability

Registration number,

269571, ANTWERPEN,

VAT number,

BE437233141,

Legal form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

Nothing to report

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Completely fulfilled 

 

Payment defaults : None 

Total share capital31 December 2006

EUR 300000,00

Bank

ABN AMRO BANK   

Board members

SHAH SAILESHKUMAR    Manager

Management

FRANCOIS PHILIPPE ANNA RICHARD    Representative and auditor

Auditor

WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN    Auditors´ president

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 3.219.415,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

2.327.433,-

Total fixed assets

138.073,-

Total tangible fixed assets

138.073,-

Land and buildings

134.025,-

Plant, machinery and equipment

1.927,-

Total Current assets

2.189.360,-

Inventories and work in progress (incl. prepayments)

1.246.915,-

Accounts receivable (trade)

906.771,-

Cash in hand and at bank

26.319,-

Total accrued income and prepaid expenses

9.355,-

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

2.327.433,-

Total equity (Shareholders' funds)

789.299,-

Issued (subscribed) capital

300.000,-

Profit reserves

88.044,-

Statutory reserves

413.247,-

Legal reserves

2.500,-

Profit or loss carried forward

-14.492,-

Total liabilities

1.538.134,-

Total long-term liabilities

56.457,-

Total current liabilities

1.481.677,-

Current accounts payable (trade)

1.073.076,-

Current liabilities to credit institutions

37.418,-

Income and social tax liabilities

4.086,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Main revenue (sales/turnover)

3.219.415,-

Cost of goods sold (operational format)

19.005,-

Gross profit or loss after cost of materials or after cost of goods sold

3.200.410,-

Depreciation

9.519,-

Operating profit or loss

28.945,-

Financial income

14.254,-

Financial expenses

37.915,-

Result of ordinary operations

5.284,-

Extraordinary income

482,-

Extraordinary result

5.766,-

Taxes

20.258,-

Net profit or loss

-14.492,-

Borrowing ratio

194,87 %

Current ratio

147,76 %

Debt gearing

7,15 %

Profit margin.

1,19 %

Quick ratio

62,97 %

Return on assets

2,28 %

Return on equity.

-1,83 %

Solidity or equity ratio

33,91 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 8.271.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

2.388.000,-

Total fixed assets

145.000,-

Total tangible fixed assets

145.000,-

Land and buildings

139.000,-

Plant, machinery and equipment

4.000,-

Total Current assets

2.243.000,-

Inventories and work in progress (incl. prepayments)

673.000,-

Accounts receivable (trade)

1.033.000,-

Investments (short-term)

509.000,-

Cash in hand and at bank

18.000,-

Total accrued income and prepaid expenses

10.000,-

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

2.388.000,-

Total equity (Shareholders' funds)

115.000,-

Issued (subscribed) capital

25.000,-

Profit reserves

87.000,-

Legal reserves

3.000,-

Total liabilities

2.273.000,-

Total long-term liabilities

71.000,-

Long-term liabilities to credit institutions

71.000,-

Total current liabilities

2.182.000,-

Current accounts payable (trade)

757.000,-

Current liabilities to credit institutions

1.084.000,-

Income and social tax liabilities

4.000,-

Total accrued expenses and deferred income

20.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

8.277.000,-

Main revenue (sales/turnover)

8.271.000,-

Total operating expenses

-8.067.000,-

Cost of materials (type of expenditure format)

7.913.000,-

Cost of goods sold (operational format)

8.067.000,-

Gross profit or loss after cost of materials or after cost of goods sold

210.000,-

Depreciation

12.000,-

Operating profit or loss

210.000,-

Financial income

666.000,-

Financial expenses

-858.000,-

Result of ordinary operations

18.000,-

Extraordinary income

2.000,-

Extraordinary result

20.000,-

Taxes

-7.000,-

Net profit or loss

13.000,-

Borrowing ratio

1976,52 %

Current ratio

101,86 %

Debt gearing

61,74 %

Profit margin.

2,68 %

Quick ratio

71,49 %

Return on assets

3,76 %

Return on equity.

11,30 %

Solidity or equity ratio

4,81 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 6.523.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

3.014.000,-

Total fixed assets

156.000,-

Total tangible fixed assets

156.000,-

Land and buildings

144.000,-

Plant, machinery and equipment

9.000,-

Total Current assets

2.858.000,-

Inventories and work in progress (incl. prepayments)

608.000,-

Accounts receivable (trade)

1.792.000,-

Investments (short-term)

440.000,-

Cash in hand and at bank

10.000,-

Total accrued income and prepaid expenses

8.000,-

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

3.014.000,-

Total equity (Shareholders' funds)

102.000,-

Issued (subscribed) capital

25.000,-

Profit reserves

74.000,-

Legal reserves

3.000,-

Total liabilities

2.912.000,-

Total long-term liabilities

85.000,-

Long-term liabilities to credit institutions

85.000,-

Total current liabilities

2.820.000,-

Current accounts payable (trade)

1.472.000,-

Current liabilities to credit institutions

973.000,-

Income and social tax liabilities

8.000,-

Total accrued expenses and deferred income

7.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

6.523.000,-

Main revenue (sales/turnover)

6.523.000,-

Total operating expenses

-6.481.000,-

Cost of materials (type of expenditure format)

6.358.000,-

Cost of goods sold (operational format)

6.481.000,-

Gross profit or loss after cost of materials or after cost of goods sold

42.000,-

Depreciation

10.000,-

Operating profit or loss

42.000,-

Financial income

674.000,-

Financial expenses

-703.000,-

Result of ordinary operations

13.000,-

Extraordinary result

13.000,-

Taxes

-4.000,-

Net profit or loss

9.000,-

Borrowing ratio

2854,90 %

Current ratio

101,09 %

Debt gearing

83,33 %

Profit margin.

0,79 %

Quick ratio

79,50 %

Return on assets

2,02 %

Return on equity.

8,82 %

Solidity or equity ratio

3,38 %

 

 

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