MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
BARSAMIAN DIAMONDS NV |
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Registered Office : |
62 Pelikaanstraat Antwerpen 2018 |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.01.1964 |
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Com. Reg. No.: |
404932537 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesaler of Diamonds and Other Precious Stones |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company
Summary
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COMPANY SUMMARY |
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Business Name |
BARSAMIAN DIAMONDS NV |
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Business Number |
404932537 |
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Address |
62 PELIKAANSTRAAT ANTWERPEN |
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Post Code |
2018 |
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Telephone |
032333724 |
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Fax Number |
032342668 |
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Date of Establisment |
01-01-1964 |
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Number of Employees |
12 |
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CREDIT
INFORMATION SUMMARY |
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Company Status |
ACTIVE |
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Date of Deposit at Registry |
13-06-2008 |
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Date of Last Accounts |
31-12-2007 |
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Turnover |
70,852,347 |
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Results of Ordinary Operations Before Tax |
200,375 |
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Networth |
11,396,589 |
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PAST PAYMENTS |
|
|
Payment Expectation Days |
69.93 |
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Days Sales Outstanding |
99.36 |
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Industry Average Payment Expectation Days |
128.48 |
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Industry Average Day Sales Outstanding |
112.39 |
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COURT DATA
SUMMARY |
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bankruptcy
details |
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Court Action Type |
None |
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Protested
Bills |
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|
Bill Amount |
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NSSO
Details |
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Date of Summons |
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Company
Information
|
COMPANY DETAILS |
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Business Number |
404932537 |
|
Name |
BARSAMIAN DIAMONDS NV |
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Fax Number |
032342668 |
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Establishment Date |
01-01-1964 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
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Activity Description |
Wholesale of diamonds and other precious stones |
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Activity Code |
46761 |
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Liable For Vat |
yes |
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Currency |
Euro (€) |
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LATEST BRANCH
DETAILS |
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Street |
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House Number |
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City |
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Postal Code |
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Trade Registered Number |
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Trade Registered Entry Date |
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CONTRACTOR
DETAIL |
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Registration Number |
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Contractor Description |
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Striking Off Date |
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LATEST EVENT |
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Serial Number |
121395 |
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Event Description |
Appointment commissioner |
Accounts
& Ratio
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PERIOD |
|||||
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Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
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Weeks |
52 |
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52 |
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52 |
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Currency |
EUR |
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EUR |
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EUR |
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PROFIT &
LOSS |
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Turnover |
70,852,347 |
70.9% |
41,446,946 |
-8.6% |
45,322,000 |
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Total Operating Expenses |
69,954,177 |
72.0% |
40,664,313 |
-9.0% |
44,707,000 |
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Operating Result |
898,170 |
14.8% |
782,633 |
27.3% |
615,000 |
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Total Financial Income |
61,201 |
30.7% |
46,840 |
192.8% |
16,000 |
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Total Financial Expenses |
758,996 |
1.8% |
745,332 |
23.6% |
603,000 |
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Results on Ordinary Operations Before Tax |
200,375 |
138.1% |
84,141 |
200.5% |
28,000 |
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Taxation |
66,656 |
-86.1% |
478,710 |
2,419.5% |
19,000 |
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Results on Ordinary Operations After Tax |
133,719 |
133.9% |
-394,569 |
-4,484.1% |
9,000 |
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Extraordinary Items |
15,768 |
-99.8% |
10,357,916 |
41,331.7% |
25,000 |
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Net Result |
149,487 |
-98.5% |
9,963,347 |
29,204.0% |
34,000 |
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Other Information |
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Dividends |
- |
- |
- |
- |
- |
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Director Remuneration |
121,905 |
- |
- |
- |
- |
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Employee Costs |
408,803 |
6.3% |
384,715 |
2.3% |
376,000 |
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- Wages & Salaries |
328,499 |
6.9% |
307,371 |
2.1% |
301,000 |
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- Social Security Contributions |
80,109 |
3.8% |
77,141 |
4.2% |
74,000 |
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- Other Employee Costs |
195 |
-3.9% |
203 |
-79.7% |
1,000 |
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Amortization & Depreciation |
40,823 |
33.6% |
30,567 |
-4.5% |
32,000 |
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BALANCE SHEET |
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Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
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Weeks |
52 |
- |
52 |
- |
52 |
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Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
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Tangible Fixed Assets |
315,535 |
105.6% |
153,450 |
39.5% |
110,000 |
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- Land And Buildings |
0 |
- |
0 |
- |
0 |
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- Plant And Machinery |
11,552 |
1,412.0% |
764 |
-23.6% |
1,000 |
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- Other Tangible Assets |
303,983 |
99.1% |
152,686 |
40.1% |
109,000 |
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Financial Fixed Assets |
78,932 |
0.0% |
78,932 |
617.6% |
11,000 |
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Total Fixed Assets |
394,467 |
69.7% |
232,382 |
92.1% |
121,000 |
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Inventories |
|||||
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- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
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- Work in Progress |
0 |
- |
0 |
- |
0 |
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- Finished Goods |
0 |
- |
0 |
- |
0 |
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- Other Stocks |
12,508,862 |
-38.0% |
20,175,770 |
125.3% |
8,956,000 |
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Trade Debtors |
19,287,499 |
113.2% |
9,045,269 |
-28.8% |
12,701,000 |
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Cash |
1,262 |
-99.9% |
1,010,169 |
7,115.5% |
14,000 |
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- Miscellaneous Current Assets |
6,920 |
-40.7% |
11,667 |
-73.5% |
44,000 |
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Total Current Assets |
31,804,543 |
5.2% |
30,242,875 |
39.3% |
21,715,000 |
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- Trade Creditors |
13,401,682 |
47.1% |
9,108,779 |
-8.8% |
9,986,000 |
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- Short Term Group Loans |
0 |
- |
0 |
- |
0 |
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- Other Short Term Loans |
5,681,776 |
-16.9% |
6,837,495 |
5.0% |
6,513,000 |
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- Miscellaneous Current Liabilities |
114,580 |
16.1% |
98,691 |
-79.8% |
488,000 |
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Total Current Liabilities |
19,198,038 |
19.7% |
16,044,965 |
-5.5% |
16,987,000 |
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- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
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- Other Long Term Loans |
1,559,923 |
-50.1% |
3,125,294 |
-9.6% |
3,459,000 |
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- Other Long Term Liabilities |
44,460 |
-23.2% |
57,896 |
-45.9% |
107,000 |
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Total Long Term Debts |
1,604,383 |
-49.6% |
3,183,190 |
-10.7% |
3,566,000 |
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- Issued Share Capital |
11,000,000 |
8,774.8% |
123,947 |
0.0% |
124,000 |
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- Share Premium Account |
0 |
- |
0 |
- |
0 |
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- Reserves |
396,589 |
-96.4% |
11,123,155 |
859.7% |
1,159,000 |
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- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
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Total Shareholders Equity |
11,396,589 |
1.3% |
11,247,102 |
776.6% |
1,283,000 |
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Working Capital |
12,606,505 |
-11.2% |
14,197,910 |
200.3% |
4,728,000 |
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Net Worth |
11,396,589 |
1.3% |
11,247,102 |
776.6% |
1,283,000 |
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RATIO ANALYSIS |
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Trading
Performance |
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Pre-tax Profit Margin |
0.28 |
40.0% |
0.20 |
233.3% |
0.06 |
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Return On Capital Employed |
1.54 |
165.5% |
0.58 |
0.0% |
0.58 |
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Return On Total Assets Employed |
0.62 |
121.4% |
0.28 |
115.4% |
0.13 |
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Return On Net Assets Employed |
1.59 |
169.5% |
0.59 |
0.0% |
0.59 |
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Sales / Net Working Capital |
5.62 |
92.5% |
2.92 |
-69.6% |
9.59 |
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Operating
Efficiency |
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Stock Turnover Ratio |
17.65 |
-63.7% |
48.68 |
146.4% |
19.76 |
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Debtor Days |
99.36 |
24.7% |
79.66 |
-22.1% |
102.29 |
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Creditor Days |
69.93 |
-14.5% |
81.76 |
0.3% |
81.53 |
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Short Term
Stability |
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Current Ratio |
1.66 |
-11.7% |
1.88 |
46.9% |
1.28 |
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Liquidity Ratio / Acid Ratio |
1.01 |
60.3% |
0.63 |
-16.0% |
0.75 |
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Current Debt Ratio |
1.68 |
17.5% |
1.43 |
-89.2% |
13.24 |
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Long Term
Stability |
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Gearing |
63.54 |
-28.3% |
88.58 |
-88.6% |
777.24 |
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Equity In Percentage |
0.35 |
-5.4% |
0.37 |
516.7% |
0.06 |
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Total Debt Ratio |
0.64 |
-28.1% |
0.89 |
-88.5% |
7.77 |
Payment
Expectations
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PAYMENT
EXPECTATIONS |
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Payment Expectation Days |
69.93 |
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Day Sales Outstanding |
99.36 |
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INDUSTRY
COMPARISON |
|
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Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average Day Sales Outstanding |
112.39 |
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Industry Average Payment Expectation Days |
128.48 |
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Industry Quartile Analysis |
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Payment
Expectation Days |
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Payment Expectations - Lower |
43.35 |
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Payment Expectations - Median |
83.63 |
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Payment Expectations - Upper |
141.91 |
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Day
Sales Outstanding |
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Day Sales Outstanding - Lower |
31.05 |
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Day Sales Outstanding - Median |
70.24 |
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Day Sales Outstanding - Upper |
143.90 |
Shareholders
|
HOLDING COMPANY |
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Company Name |
CENJAL HOLDING |
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Business Number |
477063123 |
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Share Percentage |
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Annual Accounts Date |
- |
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SUBSIDARY |
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Company Name |
LUMINIS STAR NV |
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Business Number |
881553816 |
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Share Percentage |
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Annual Accounts Date |
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Court
Data
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PROTESTED BILLS |
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Drawee Name |
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Drawee Address |
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Bill Amount |
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Bill Currency |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of |
-- |
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NSSO DETAILS |
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Business Number |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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-- |
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Bankruptcy Data |
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There is no bankruptcy data against this company. |
Directors
|
Company Director |
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FullName |
PHILIPPE HRAND CARLO BARSAMIAN |
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Position |
Managing director |
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Address |
115 RUE D'ANGOUSSART BIERGES |
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Postal Code |
1301 |
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Country |
-- |
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Company Director |
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FullName |
CHRISTIAN VROUYR |
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Position |
Director |
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Address |
4 KOMEDIEPLAATS ANTWERPEN |
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Postal Code |
2000 |
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Country |
-- |
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Company Director |
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FullName |
MARCO CROZE |
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Position |
Director |
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Address |
82 VIA DELLA DROMA ALBERONI-VENETIE |
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Postal Code |
0 |
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Country |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
RATING EXPLANATIONS
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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 |
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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%)