MIRA
INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
JEWELEX ANTWERP |
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Registered Office : |
Hoveniersstraat 30 B.191 Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1988 |
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Com. Reg. No.: |
433849425 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of jewellery and Watch |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
company name and address
Jewelex Antwerp
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Business Description
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Import and export of diamonds |
Industry
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Industry |
Jewelry and Silverware |
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ANZSIC 2006: |
3732 - Jewellery and Watch Wholesaling |
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NACE 2002: |
5147 - Wholesale of other household goods |
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NAICS 2002: |
423940 - Jewelry, Watch, Precious Stone,
and Precious Metal Merchant Wholesalers |
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UK SIC 2003: |
51473 - Wholesale of jewellery |
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US SIC 1987: |
5094 - Jewelry, Watches, Precious Stones, and
Precious Metals |
Key Executives
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1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
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Executives Report
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Turnover |
66.6 |
82.4 |
101.1 |
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Other Operating Income |
0.0 |
0.0 |
0.0 |
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Operating Income |
66.6 |
82.4 |
101.1 |
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Purchases |
66.4 |
80.5 |
96.3 |
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Increase or Decrease
in Stocks |
-1.8 |
-0.6 |
2.1 |
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Raw Materials, Consumables, and Goods for
Release |
64.5 |
79.9 |
98.4 |
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Services and Sundry Goods |
0.7 |
0.8 |
0.9 |
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Remuneration, Social Security Charges, and
Pensions |
0.2 |
0.2 |
0.3 |
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Depreciation of and Other Amounts Written Off of
Formation Expense, Intangible and Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
0.0 |
0.1 |
- |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating Charges |
65.5 |
81.1 |
99.6 |
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Income From Current Assets |
0.0 |
0.0 |
0.0 |
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Other Financial Income |
0.0 |
0.0 |
0.0 |
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Financial Income |
0.0 |
0.0 |
0.0 |
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Interest and Other Debt Charges |
1.0 |
1.3 |
1.2 |
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Other Financial Charges |
0.0 |
0.0 |
0.0 |
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Financial Charges |
1.0 |
1.3 |
1.2 |
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Transfer from Differed Taxes |
0.0 |
0.0 |
0.0 |
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Income Taxes |
0.0 |
- |
0.0 |
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Adjustment of Income Taxes and Write-Back of
Tax Provisions |
- |
0.0 |
0.0 |
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Income Taxes |
0.0 |
0.0 |
0.0 |
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Transfer from Untaxed Reserves |
0.0 |
0.0 |
0.0 |
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To Capital and Share
Premium Account |
- |
0.0 |
- |
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To the Legal Reserve |
0.1 |
- |
- |
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Transfers to Capital and Reserves |
0.1 |
0.0 |
- |
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Employees |
3 |
3 |
4 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Land & Buildings |
0.4 |
0.5 |
0.6 |
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Plant, Machinery, and
Equipment |
0.0 |
0.0 |
0.0 |
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Furniture and Vehicles |
0.0 |
0.0 |
0.0 |
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Tangible Assets |
0.5 |
0.5 |
0.6 |
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Shares |
0.2 |
0.2 |
0.2 |
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Amounts Receivable and
Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other Capital Assets |
0.2 |
0.2 |
0.2 |
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Capital Assets |
0.2 |
0.2 |
0.2 |
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Fixed Assets |
0.7 |
0.7 |
0.8 |
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Goods Purchased for
Resale |
26.5 |
24.7 |
26.9 |
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Stocks |
26.5 |
24.7 |
26.9 |
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Inventory and Orders in Progress |
26.5 |
24.7 |
26.9 |
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Trade Debtors |
19.8 |
18.0 |
24.1 |
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Other Amounts
Receivable |
0.1 |
0.1 |
0.0 |
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Amounts Receivable Within One Year |
19.8 |
18.1 |
24.2 |
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Liquid Assets |
0.8 |
0.6 |
2.0 |
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Adjustment Accounts |
0.0 |
- |
0.0 |
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Current Assets |
47.1 |
43.4 |
53.0 |
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Total Assets |
47.8 |
44.1 |
53.9 |
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Issued Capital |
9.5 |
9.5 |
5.0 |
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Capital |
9.5 |
9.5 |
5.0 |
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Legal Reserve |
0.6 |
0.5 |
0.6 |
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Other |
- |
- |
5.6 |
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Reserves Not Available
for Distribution |
- |
- |
5.6 |
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Untaxed Reserves |
0.1 |
0.1 |
0.1 |
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Reserves |
0.6 |
0.6 |
6.2 |
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Deferred Taxation |
0.0 |
0.0 |
0.0 |
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Provisions and Deferred Taxes |
0.0 |
0.0 |
0.0 |
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Capital and Reserves |
10.9 |
10.9 |
12.1 |
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Credit Institutions |
0.4 |
0.4 |
0.4 |
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Financial Debts |
0.4 |
0.4 |
0.4 |
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Amounts Due After More Than One Year |
0.4 |
0.4 |
0.4 |
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Current Portion of
Amounts Payable After More Than One Year |
0.0 |
0.0 |
0.0 |
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Credit Institutions |
8.3 |
11.0 |
7.6 |
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Other Loans |
9.3 |
9.1 |
8.9 |
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Financial Debts |
17.6 |
20.1 |
16.5 |
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Suppliers |
18.3 |
12.1 |
24.3 |
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Trade Debts |
18.3 |
12.1 |
24.3 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Remuneration and
Social Security |
0.0 |
0.0 |
0.0 |
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Taxes, Wages, and
Social Security |
0.1 |
0.1 |
0.1 |
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Other Amounts Payable |
0.5 |
0.4 |
0.4 |
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Amounts Payable Within One Year |
36.5 |
32.8 |
41.3 |
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Adjustment Accounts |
0.0 |
0.1 |
0.0 |
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Creditors |
36.8 |
33.2 |
41.8 |
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Total Liabilities + Shareholders' Equity |
47.8 |
44.1 |
53.9 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.13 |
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1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.