MIRA
INFORM REPORT
|
Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KIN NETHERLANDS B.V. |
|
|
|
|
Registered Office : |
Verheeskade 197 2521 DD `S-Gravenhage |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
08.06.2006 |
|
|
|
|
Legal Form : |
BV Private Company Ltd |
|
|
|
|
Line of Business : |
Holding Company; Exploitation of a Chain
of Jewellery Shops. |
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 : |
No complaints |
|
|
|
|
Litigation : |
Clear |
name & address
|
KIN Netherlands
B.V. |
|
Verheeskade 197 |
|
2521 DD `S-GRAVENHAGE |
|
Tel.:+31
(0)70-3766300 |
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
08/06/2006 as Ltd.
Trade
register
272891670000
Capital
Nominal EUR 2.000.000,--
Issued and paid up EUR 400.000,--
Management
A. Al Saffar, born
25/07/1964,
A.R. Gast, born 28/06/1963,
Activity
Holdingcompany;
Exploitation of a
chain of jewellery shops.
Branch[es]:
-KIN Netherlands
B.V.,
Kerkstraat 1, 5211 KD DEN BOSCH
-KIN Netherlands B.V.,
Breestraat 64, 1941 EK BEVERWIJK
-KIN Netherlands B.V.,
Hoofdstraat 52, 7311 KD APELDOORN
-KIN Netherlands B.V.,
Homeruspassage 2, 6411 AX HEERLEN
-KIN Netherlands B.V.,
Amsterdamstraat 57, 2711 ED ZOETERMEER
-KIN Netherlands B.V.,
Ketelstraat 6, 6811 CX ARNHEM
-KIN Netherlands B.V.,
Nieuwstraat 173, 3201 EE SPIJKENISSE
-KIN Netherlands B.V.,
Forum 6, 9401 EE ASSEN
-KIN Netherlands B.V.,
Veestraat 9, 5701 RA HELMOND
-KIN Netherlands B.V.,
Waterstraat 23a, 4001 AL TIEL
-KIN Netherlands B.V.,
Misterstraat
2, 7101 EW WINTERSWIJK
+ 71 other
branchoffice[s].
Trade name:
-Lucardi Juwelier
Staff
270 employees
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
Subsidiary[ies]:
-Kijkshop B.V.,
Schimminck 12, 5301 KR ZALTBOMMEL
Previous
name of the company:
-Klockgrossisten I Norden Netherlands B.V.
Net result:
2007 Euro 999.886
The
shareholders equity was as of:
31/12/2007 Euro 3.399.886
The working
capital was as of:
31/12/2007 Euro 2.941.910
Parent
company:
Klockgrossisten
I Norden AB, Sweden
Almungevägen
2, SE-194 51 Upplands Väsby - Sweden
reg. nr.
556438-6950
In June
2006 did Retail Network BV sell her
'Lucardi' (jewelery shops) division to Klockgrissisten I Norden AB (KIN) of
Sweden, which is also the owner of the Ur & Penn chain in Sweden.
There are in
total a little over 80 Lucardi shops.
Website :
www.lucardi.nl
A
declaration of liability has been issued by
parent
company.
Correspondence
address:
Postbus
19385
2500 CJ DEN HAAG
Banks
ABN-AMRO Bank NV, 40.48.45.851
VAT-nr.
NL815801208B01
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 :
KIN Netherlands B.V.
BALANCE
SHEET
Corporate in Euro(x
1)
-------- ------31-12-2007---
Intangible assets 0 5.916.663
Tangible assets 0 4.876.048
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed assets 0 10.792.711
Stock 0 10.358.585
Receivables 0 1.457.998
Shares 0 0
Liquid assets 0 1.926.619
Miscellaneous current assets 0 0
Total current assets 0 13.743.202
Shareholders
equity 0 3.399.886
Provisions 0 277.650
Long-term liabilities 0 10.057.085
Current liabilities 0 10.801.292
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total
liabilities 0 24.535.913
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1)
-------- ------31-12-2007---
Turnover 0 0
Other income 0 0
Total expenses 0 0
Operating profit 0 2.134.465
Balance financial P/L 0 -681.967
Net profit/loss 1] 0 1.452.498
Taxation 0 452.612
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 0 999.886
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 0 999.886
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
---------- -----2007-----
EQUITY %
Equity gearing 0 13,9
Equity/outside
capital 0 16,1
LIQUIDITY
Current ratio 0 1,3
Acid test 0 0,3
RATES OF RETURN %
Total assets 0 5,9
Shareholders equity 0 42,7
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1)
-------------------- --------------------
Working capital 0 2.941.910
Shareholders equity + Equalization acc. 0 3.399.886
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
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%)