MIRA INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RISING STAR BVBA |
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Registered Office : |
Hoveniersstraat 2/B310, 2018 Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
22.02.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing
of polished and unpolished diamonds, precious stones, etc. the trade in these
and the import and export of these. |
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
Rising Star BVBA
Hoveniersstraat
2/b310
2018 ANTWERPEN
Tel.:+32
(0)3-2132077
Fax.:+32
(0)3-2132078
Legal
status
Private limited company
Founded
22/02/2005 as BVBA
Trade
register
52872384
Capital
nominal EUR 18.600,--
issued and paid up EUR 18.600,--
Management
Bhupesh Shah,
Quinten Matsijslei 32, 2016 Antwerpen
Activity
Processing of
polished and unpolished diamonds, precious stones, etc. the trade in these and
the import and export of these.
2007 Euro 16.272.497
2006 Euro 17.361.464
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:
2007 Euro 25.162
2006 Euro 33.139
The shareholders
equity was as of:
31/12/2007
Euro 85.406
31/12/2006
Euro 60.244
The working capital was as of:
31/12/2007
Euro 57.890
31/12/2006
Euro 32.523
Banks
not known – Believed to the
Antwerpse Diamantbank.
VAT-nr.
BE872384247
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
Rising Star BVBA
Hoveniersstraat 2/b310, 2018 ANTWERPEN
Trade register 52872384
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Rising Star BVBA *** BALANCE SHEET ***
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 0 0
Tangible assets 141.940 136.570
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed
assets 141.940 136.570
Stock 1.119.680 1.052.867
Receivables 2.770.204 2.940.414
Shares 0 0
Liquid assets 339.429 23.960
Miscellaneous current assets 0 0
Total current
assets 4.229.313 4.017.241
Shareholders
equity 60.244 85.406
Provisions 0 0
Long-term liabilities 114.219 109.054
Current liabilities 4.196.790 3.959.351
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 4.371.253 4.153.811
PROFIT
& LOSS ACCOUNT
Rising Star BVBA
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 17.361.464 16.272.497
Other income 0 0
Total expenses 17.288.193 16.220.840
Operating profit 73.271 51.657
Balance financial P/L -23.605 -17.495
Net profit/loss 1] 49.666 34.162
Taxation 16.527 9.000
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 33.139 25.162
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 33.139 25.162
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
Rising Star
BVBA
-----2006----- -----2007-----
EQUITY %
Equity gearing 1,4 2,1
Equity/outside
capital 1,4 2,1
LIQUIDITY
Current ratio 1 1
Acid test 0,7 0,7
RATES OF RETURN %
Total assets 1,1 0,8
Shareholders equity 82,4 40
Pre tax
margin % 0,3 0,2
Turnover rate 397,2 391,7
(x
1) (x 1)
-------------------- --------------------
Working capital 32.523 57.890
Shareholders equity + Equalization acc. 60.244 85.406
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)