MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
RUSHIDIAM BVBA |
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Registered Office : |
Hoveniersstraat 30-38 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 : |
01.01.1986 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing
of and wholesale business and retail trade in polished and unpolished
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
Rushidiam
Bvba
Hoveniersstraat
30-38
2018 ANTWERPEN
Tel.:+32 (0)3-2322820
Fax.:+32
(0)3-2332245
Legal
status
Private limited company
Founded
01/01/1986, BVBA since
01/08/1986
Trade
register
52252384
Capital
Nominal EUR 19.000,--
Issued and paid up EUR 7.000,--
Management
Shah Bankim Chimanlal, Belgielei 102, 2018
Antwerpen
Activity
Processing of and
wholesale business and retail trade in polished and unpolished diamonds.
Staff
2 [incl. management]
Turnover
Net turnover:
2006 Euro 30.971.000
2005 Euro 19.469.000
2004 Euro 19.469.012
Real
estate
The business
premises at the mentioned address is owned by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 29.000
The
shareholders equity was as of:
31/12/2006 Euro 135.000
31/12/2005 Euro 106.000
31/12/2004 Euro 105.999
The working
capital was as of:
31/12/2006 Euro 35.000
31/12/2005 Euro (4.000)
31/12/2004 Euro (8.007)
Other bankers:
Antwerpse
Diamantbank, Acc. nr. : 640-0939400-95
Import : India
Export :
Hong Kong, India, Italy and Switzerland
Import
share : 100 %
VAT-nr.
BE429234205
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 :
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 113.000 105.000
Financial assets 1.000 1.000
Miscellaneous fixed assets 0 0
Total fixed
assets 114.000 106.000
Stock 2.580.000 3.502.000
Receivables 8.196.000 14.525.000
Shares 0 0
Liquid assets 573.000 97.000
Miscellaneous current assets 5.000 22.000
Total current
assets 11.354.000 18.146.000
Shareholders
equity 106.000 135.000
Provisions 0 0
Long-term liabilities 0 0
Current liabilities 11.358.000 18.111.000
Minority interests 0 0
Miscellaneous
liabilities 4.000 6.000
Total liabilities 11.468.000 18.252.000
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 19.469.000 30.971.000
Other income 0 0
Total expenses 19.463.000 30.245.000
Operating profit 6.000 726.000
Balance financial P/L 40.000 -678.000
Net profit/loss 1] 46.000 48.000
Taxation 46.000 19.000
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 0 29.000
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2] 0 0
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 0 29.000
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 0,9 0,7
Equity/outside
capital 0,9 0,7
LIQUIDITY
Current ratio 1 1
Acid test 0,8 0,8
RATES OF RETURN %
Total assets 0,4 0,3
Shareholders equity 43,4 35,6
Pre tax
margin % 0,2 0,2
Turnover rate 169,8 169,7
(x
1) (x 1)
-------------------- --------------------
Working capital -4.000 35.000
Shareholders equity + Equalization acc. 106.000 135.000
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%)