MIRA INFORM REPORT

 

 

Report Date :           

29.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SIMI INTERNATIONAL SRL 

 

 

Registered Office :

Ion HeliadeRadulescu Bl. N2, Ap. 2, 915400 Oltenita, Jud. Calarasi

 

 

Country :

Romania

 

 

Financials (as on) :

2009

 

 

Date of Incorporation :

05.03.2003 

 

 

Com. Reg. No.:

No. J51/112/2003 

 

 

Legal Form :

Limited Liability Company          

 

 

Line of Business :

Agents involved in the sale of agricultural raw materials, live animals, textile raw materials

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

EUR 2.500,00

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Romania

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY REPORTED  

 

 

 

SIMI INTERNATIONAL SRL 

Principal Address:
Ion HeliadeRadulescu Bl. N2, Ap. 2
915400 Oltenita, Jud. Calarasi
Romania
Telephone: +40-723-399994

Branch production:
SosAndronache 203
022524 Bucuresti, Sector 2
Romania
Telephone: +40-21-2206384, +40-723-539548, +40-788-509754
Fax: +40-21-2206384
Email: simiintl_srl@yahoo.com

Branch production:
Moroieni 98-100
Bucuresti, Sector 2
Romania

 

ICON number: 58833110 
National ID: J51/112/2003 
VAT number: 15269687

 

Registration status: 05.03.2003 - registered company
Activity status: 05.03.2003 - active company

 

 

 

CREDIT INFORMATION SUMMARY  

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

Maximum Credit:

EUR 2.500,00

 

 

 

 

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

                                                                               


COMPANY DETAILS   

 

 

 

 

Established:

2003

 

 

 

Registration:

No. J51/112/2003 
05.03.2003 
Calarasi, Romania

 

 

 

Legal Form:

Limited Liability Company

 

 

 

Capital:

Nominal capital:

 

RON 25.200,00

Number of Ordinary shares:

2.520

 

Value per share of Ordinary shares:

RON 10,00

 

 

Paid-up capital:

 

RON 25.200,00

 

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

KHAN NICOLETA

Shareholder

Ion HeliadeRadulescu Bl. N2, Ap. 2
Oltenita, Jud. Calarasi
Romania

100,00%
2.520 Ordinary shares

 

 

 

Management:

Full Name

Function

Address

KHAN NICOLETA

Managing director

Ion HeliadeRadulescu Bl. N2, Ap. 2
Oltenita, Jud. Calarasi
Romania

 

 

 

                                                                               

KEY DATA ON OPERATIONS      

 

 

 

Subject of Operation:

NACE
  main activity:
  4611 Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-

  4611 Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-

Activities:
- Import of cattle and sheep intestine;
- Import, production and distribution of dry, salted and natural membranes;
- Trade with sheep membranes and seasonings.

 

 

 

Company Development:

Satisfactory business development

 

 

 

Key Data: 

Amounts shown in Romanian Leu (New) (RON)

 

2009

2008

2007

2006

Turnover

757.409

548.581

730.024

1.713.948

Fixed assets

247.610

263.489

278.682

90.219

Equity capital

220.479

213.748

209.506

199.885

Profit after taxation

6.731

4.242

9.621

162.038

Operating result - profit

90.650

 

 

 

 

 

 

 

 

 

Industry average

 

2009

2008

2007

2006

 

2009

2008

2007

2006

Return on assets ( ROA )
Net profit / Total assets

0,01

-

-

-

 

 

 

0,11

0,09

Return on equity ( ROE )
Net profit / Shareholder equity

0,03

0,02

0,05

0,81

 

 

 

0,27

0,21


Industry average values are listed for the NACE branch: 46 - Wholesale trade, except of motor vehicles and motorcycles

 

 

Workforce:

 

2009

2008

2007

2006

Total workforce

0

1

1

2

 

 

                                                                               

FINANCIAL INFORMATION   

 

 

 

Financials: 

Amounts shown in Romanian Leu (New) (RON)  

2009

2008

2007

2006

 



BALANCE SHEET

 

FIXED ASSETS

247.610

263.489

278.682

90.219

 

CURRENT ASSETS

891.604

946.893

861.662

877.974

 

Inventory

620.086

430.703

352.639

368.209

 

Claims (receivable)

256.431

479.375

379.078

369.940

 

Liquid assets

15.087

36.815

129.945

139.825

 

SHORT TERM FINANCIAL INVESTMENTS

0

 

 

 

 

PREPAID EXPENSES

0

0

 

 

 

TOTAL ASSETS

1.139.214

 

 

 

 

EQUITY CAPITAL

220.479

213.748

209.506

199.885

 

Share capital

25.200

 

 

 

 

Subscribed and paid capital

25.200

25.200

25.200

25.200

 

Reserves

15.382

 

 

 

 

Short-term liabilities

693.130

 

 

 

 

Long-term liabilities

225.605

 

 

 

 

TOTAL DEBTS

918.735

996.634

930.838

768.308

 

Provisions for risks and charges

0

0

0

0

 

Deferred income

0

0

 

 

 

TOTAL EQUITY AND LIABILITIES

1.139.214

 

 

 

 



PROFIT AND LOSS

 

Turnover

757.409

548.581

730.024

1.713.948

 

TOTAL INCOME

787.852

579.638

798.337

1.786.376

 

TOTAL EXPENSES

771.805

573.408

786.260

1.593.382

 

Operating result - profit

90.650

 

 

 

 

Operating result - loss

0

 

 

 

 

Profit on financial transactions (financial profit)

0

 

 

 

 

Loss on financial transactions (financial loss)

74.603

 

 

 

 

Current result - profit

16.047

 

 

 

 

Current result - loss

0

 

 

 

 

Extraordinary profit

0

 

 

 

 

Extraordinary loss

0

 

 

 

 

Profit before taxation

16.047

6.230

12.077

192.994

 

Loss before taxation

0

0

0

0

 

Profit after taxation

6.731

4.242

9.621

162.038

 

Loss after taxation

0

0

0

0






 

 

Approximate Exchange Rates:

2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2006: 3,5245 RON = 1 EUR
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD
2006: 2,809 RON = 1 USD

 

 

Financial Comments:

Effectively from July 1st 2005, the Romanian currency was redenominated so that 10,000 old lei(ROL) will be exchanged for 1 new leu (RON). 
The financial statements of the companies will be published in new currency RON starting with 31.12.2005.
All financials for previous years displayed in the report were converted from ROL to RON.

 

 

Bankers:

BANCA TRANSILVANIA SA CLUJ NAPOCA SUCURSALA MILITARI BUCURESTI
060781 Bucuresti, Sector 6, Virtutii 1B

 

 

Ratios: 

 

 

 

 

 

Industry average

 

2009

2008

2007

2006

 

2009

2008

2007

2006

Debt Ratio
(Short-term liabilities + Long-term liabilities) / Total Assets

0,81

-

-

-

 

 

 

0,81

0,82

Quick ratio
(Current assets - Inventory)/Current liabilities

0,39

-

-

-

 

 

 

0,56

0,49

Current ratio ( CR )
Current assets / Current liabilities

1,29

-

-

-

 

 

 

0,92

0,79

Leverage
Long Term Liabilities / Total Equity

1,02

-

-

-

 

 

 

0,14

0,09

Return on sales ( ROS )
Net profit / Turnover

0,01

0,01

0,01

0,09

 

 

 

0,08

0,07

Return on assets ( ROA )
Net profit / Total assets

0,01

-

-

-

 

 

 

0,11

0,09

Return on equity ( ROE )
Net profit / Shareholder equity

0,03

0,02

0,05

0,81

 

 

 

0,27

0,21

Operating margin, in %
Operating result / Sales

11,97

-

-

-

 

 

 

 

 

Days supply in inventory
(Inventory / Turnover) * No. of days in period

298,82

286,57

176,31

78,41

 

 

 

56,93

47,10

Days sales in receivables
(Receivables / Turnover) * No. of days in period

123,58

318,95

189,53

78,78

 

 

 

78,64

56,95

Days purchase in payables
(Current Liabilities / Turnover) * No. of days in period

334,02

-

-

-

 

 

 

144,14

103,30

Sales to Total Assets
Sales / Total assets

0,66

-

-

-

 

 

 

3,30

3,10

Operating result / Total assets
Operating result / Total assets

0,08

-

-

-

 

 

 

 

 

Cash ratio
Cash / Current liabilities

0,02

-

-

-

 

 

 

 

 

Equity as % of total assets
(Equity capital / Total Assets) * 100

19,35

-

-

-

 

 

 

 

 

Fixed assets as % of total assets
(Fixed assests / Total assets) * 100

21,74

-

-

-

 

 

 

 

 

Receivables as % of current assets
(Receivables / Current assets) * 100

28,76

50,63

43,99

42,14

 

 

 

 

 

Net working capital
Current assets - Short-term liabilities

RON 198.474,00

-

-

-

 

 

 

 

 


Industry average values are listed for the NACE branch: 46 - Wholesale trade, except of motor vehicles and motorcycles

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.74.14

Euro

1

Rs.65.78

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.