MIRA INFORM REPORT
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Report Date : |
04.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PLASTHIM – T |
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Registered Office : |
Ul. "Han Asparuh" 97, 9450 Tervel |
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Country : |
Bulgaria |
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Financials (as on) : |
2007 |
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Year of Establishment : |
1967 |
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Legal Form : |
Joint Stock Company (AD) |
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Line of Business : |
Manufacturer of Plastic Packing Goods |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 840 000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY & LOCATION
PLASTHIM – T
International
Name
PLASTHIM – T
Registered
ul. "Han Asparuh" 97
9450 Tervel
Bulgaria
Tel: +359-5751-2414, +359-58-690304, +359-52-699654
Fax: +359-58-690300
Email: office@famtex-t.net
Internet: http://www.famtex-t.net
ESTABLISHMENT & REGISTRATION
Established in 1967 s a state company
In 1996 it was privatized
Registered at Dobrich district court
Court number 192/1996
Bulstat: BG 124000839
LEGAL FORM
Joint Stock Company (AD)
REGISTERED CAPITAL
BGN 6.785.180,-
SHAREHOLDERS
MERGIL YUSUFOVA YAHOVA – 25%
ID 7204258035
FEVZI YUSUFOV YAHOV – 25%
ID 6909217921
AYDAN FAIK ADEM – 50%
ID 6102277909
MANAGEMENT
AYDAN FAIK ADEM - Executive Director
FEVZI YUSUFOV
YAHOV - Executive Director
BUSINESS OPERATION
NACE 2522 Manufacture
of plastic packing goods
RELATED COMPANIES
FAMTEKS-T
EXPORT
England, Netherlands,
Denmark, Fed.Rep. of Yugoslavi
IMPORT
Germany, Austria,
Denmark, Netherlands
TURNOVER
2002: BGN 16 998 000,-
2003: BGN 18 041 000
2004: BGN 20 147 000,-
2005: BGN 17 312 000,-
2006: BGN 22 568 000,-
2007: BGN 51
784 000,-
NUMBER OF EMPLOYEES
652
REAL ESTATE
Land – 89 000 m2
Production premises – 9 (20 412 m2)
Warehouses – 3 (6 947 m2)
Office premises – 1 (1 224 m2)
MODES OF PAYMENT
Payments are
within contracted terms
FINANCIAL OPINION
Normal solvency
CREDIT LIMIT
EUR 840 000,- for
30 days
Exchange since for 1998 BGN (denominated lev) = 0.51 EUR
Balance sheet in BGN’000
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2007 |
2006 |
2005 |
2003 |
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FIXED ASSETS |
33 056 |
19 479 |
7 099 |
5 068 |
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Tangible fixed assets |
32 929 |
14 307 |
7 099 |
5 058 |
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Intangible assets |
10 |
11 |
80 |
10 |
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Long-term investments |
117 |
5 139 |
250 |
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Goodwill |
0 |
0 |
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Prepaid expenses, deferred income, similar accounts |
0 |
22 |
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CURRENT ASSETS |
13 062 |
8 726 |
14 028 |
9 327 |
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Inventory |
4 769 |
2 042 |
1 982 |
1 458 |
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Short-term receivables |
7 805 |
6 646 |
11 684 |
7 690 |
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Own shares, partnership shares, shares bought for resale |
0 |
0 |
0 |
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Liquid assets |
488 |
38 |
185 |
120 |
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Prepaid expenses |
0 |
0 |
175 |
59 |
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TOTAL ASSETS |
46 118 |
28 205 |
21 127 |
14 395 |
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Equity capital |
16 821 |
18 712 |
13 376 |
11 287 |
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Subscribed and paid capital |
6 785 |
6 785 |
4 979 |
4 980 |
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Reserves |
7 640 |
7 656 |
5 260 |
4 841 |
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Profit or loss carried forward |
483 |
3 376 |
1 648 |
1 466 |
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Profit of the year |
1 913 |
895 |
1 487 |
585 |
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Loss of the year |
0 |
0 |
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Long-term liabilities |
17 704 |
4 337 |
1 928 |
171 |
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Short-term liabilities |
11 593 |
5 156 |
5 822 |
1 547 |
Profit and loss in BGN’000
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2007 |
2006 |
2005 |
2003 |
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Total operating expenses |
49 582 |
21 665 |
15 841 |
17 266 |
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Expenses on financial transactions (financial expenditures) |
2 190 |
232 |
124 |
115 |
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Extraordinary expenses |
0 |
0 |
0 |
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Profit before taxation |
2 202 |
903 |
1 487 |
857 |
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Taxes,duties and similar expenses |
289 |
8 |
0 |
272 |
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Profit after taxation |
1 913 |
895 |
1 487 |
585 |
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Total operating income |
51 784 |
22 568 |
17 329 |
18 123 |
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Income from financial transactions (financial income) |
0 |
0 |
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24 |
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Extraordinary income (extraordinary benefit) |
0 |
0 |
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Loss after taxation |
0 |
0 |
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.26 |
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UK Pound |
1 |
Rs.79.19 |
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Euro |
1 |
Rs.64.42 |
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%)