MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TACHE COMPANY NV |
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Registered Office : |
Hoveniersstraat 53 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 : |
18.12.1957 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Import and Export of and
Wholesale Business in 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
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Tache Company
NV |
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Hoveniersstraat
53 |
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2018 ANTWERPEN |
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Tel.:+32
(0)3-2341818 |
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Fax.:+32
(0)3-2318792 |
Legal
status
NV Public limited company
[nat. law]
Founded
18/12/1957, P.l.c. since
01/01/1958
Trade
register
52141190
Capital
Nominal EUR 1.500.000,--
Issued and paid up EUR 1.500.000,--
Management
Joseph Tache, Baillet Latourlei 50, 2930
Brasschaat
Isaac Tache, Frillinglei 85, 2930 Brasschaat
Robert Tache, Charlottalei 34, 2930
Brasschaat (B)
Jacques Tache, Jozef Woutersstraat 17, 2600
Berchem
Jean-Jacques Tache, Acacialaan 72, 2610
Wilrijk
Activity
Import and export of
and wholesale business in diamonds.
Staff
33 employees
Turnover
Net turnover:
2007 Euro 318.817.433
2006 Euro 294.215.361
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 420.100
2006 Euro 103.256
The
shareholders equity was as of:
31/12/2007 Euro 5.067.133
31/12/2006 Euro 4.647.033
The working
capital was as of:
31/12/2007 Euro 176.463.301
31/12/2006 Euro 159.576.696
Other bank
relationship:
Antwerpse
Diamantbank
Previous
name:
Tache &
Compagnie
Import :
Russia
Export : Japan,
the USA and Europe
Accountants:
Westen,
Francois & Co.
Banks
ABN-AMRO Bank NV
VAT-nr.
BE404991430
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 :
Tache Company NV
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 0 0
Tangible assets 2.687.087 2.950.123
Financial assets 15.666 9.870
Miscellaneous fixed assets 0 0
Total fixed
assets 2.702.753 2.959.993
Stock 117.661.355 141.250.042
Receivables 100.598.300 111.743.822
Shares 0 300.600
Liquid assets 4.411.636 644.770
Miscellaneous current assets 223.093 361.921
Total current
assets 222.894.384 254.301.155
Shareholders
equity 4.647.033 5.067.133
Provisions 0 0
Long-term liabilities 157.531.907 173.482.718
Current liabilities 63.317.688 77.837.854
Minority interests 0 0
Miscellaneous
liabilities 100.509 873.443
Total liabilities 225.597.137 257.261.148
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 294.215.361 318.817.433
Other income 108.586 167.169
Total expenses 290.624.945 307.107.025
Operating profit 3.699.002 11.877.577
Balance financial P/L -3.518.690 -11.200.650
Net profit/loss 1] 180.312 676.927
Taxation 137.400 240.224
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 42.912 436.703
Balance extraordinary P/L 60.344 -16.603
Taxation 0 0
Extraordinary P/L 2] 60.344 -16.603
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 103.256 420.100
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2006----- -----2007-----
EQUITY
%
Equity gearing 2,1 2
Equity/outside capital 2,1 2
LIQUIDITY
Current ratio 3,5 3,3
Acid test 1,7 1,5
RATES OF RETURN %
Total assets 0,1 0,3
Shareholders
equity 3,9 13,4
Pre tax margin
% 0,1 0,2
Turnover rate 130,4 123,9
(x
1) (x 1)
-------------------- --------------------
Working capital 159.576.696 176.463.301
Shareholders
equity + Equalization acc. 4.647.033 5.067.133
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)