MIRA INFORM REPORT

Report Date :

27.12.2011

IDENTIFICATION DETAILS

Name :	ANNO CHEMICALS NV
Registered Office :	Berkenlaan 21 Zoersel, Post Code 2980
Country :	Belgium
Financials (as on) :	30.09.2010
Date of Incorporation :	30.05.2002
Com. Reg. No.:	477635225
Legal Form :	Public Limited Liability Company
Line of Business :	sale of fuels, ores, metals and industrial chemicals
No. of Employees :	One persons

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	620.000 (€)
Status :	Satisfactory
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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Belgium	a1	a1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name & address

Business number	477635225	Company name	ANNO CHEMICALS NV
Safe number	BE00491679	Telephone number	034642532
Address	BERKENLAAN 21 ZOERSEL	Fax number	034642537
Post code	2980	Number of staff	1
Date of establishment	30/05/2002

Credit information

Company status	active
Credit limit (€)	620.000
Purchase limit	0

Ultimate holding company

Safe number	Company name	Company Number
-	-	-

Accounts & ratios

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH
30/09/2010		1,153,704	1,787,974
30/09/2009		227,528	1,039,326
30/09/2008		397,512	880,295

Accounts & ratios

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	INVESTMENTS	CAPITAL	CASH FLOW	NUMBER OF EMPLOYEES
30/09/2010	10,693,740	5,745	65,000	342,445	3
30/09/2009	8,121,150	5,745	65,000	559,006	3
30/09/2008	8,448,572	36,745	65,000	689,838	4

Trends

Profitability
Liquidity
Net worth

Payment expectations

Past payments		Payment expectation days	-
Industry average payment expectation days	68.29	Industry average day sales outstanding	84.16
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS
Court action type	no
PROTESTED BILLS
Bill amount	-
NSSO DETAILS
Date of summons	-

Business number	477635225	Company name	ANNO CHEMICALS NV
Fax number	034642537	Date founded	30/05/2002
Company status	active	Company type	Public Limited Liability Company (BE)
Currency	Euro (€)	Date of latest accounts	30/09/2010
Activity code	46120	liable for VAT	yes
Activity description	Agents involved in the sale of fuels, ores, metals and industrial chemicals	VAT Number	BE.0477.635.225
Belgian Bullettin of Acts Publications	moniteur belge

Contractor details

Registered contractor number	-
Contractor description	-
Date struck off register

Personnel limit NSSO

Code	-
Description	FROM 1 TO 4 EMPLOYEES

Joint Industrial Committee (JIC)

Significant Events

Event Date	04/05/2011
Event Description	resignation-appointment of director(s)
Event Details	Commentaar 01-06-2011: Met ingang van 1 juni 2011 wordt ontslagen als bestuurder Myriam Van Geel.

Profit & loss

Annual accounts	30-09-2010	%	30-09-2009	%	30-09-2008	Industry average 2010	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	-	-	-	-	-	34,417,943	-
Total operating expenses	-	-	-	-	-	32,942,927	-
Operating result	1,105,572	135	469,198	-53.10	1,000,374	406,970	171
Total financial income	647,700	-39.18	1,064,969	321	252,731	517,299	25.21
Total financial expenses	599,568	-54.11	1,306,639	52.72	855,593	419,236	43.01
Results on ordinary operations before taxation	1,153,704	407	227,528	-42.76	397,512	447,973	157
Taxation	285,056	271	76,628	-46.72	143,824	36,911	672
Results on ordinary operations after taxation	868,648	475	150,900	-40.52	253,688	422,464	105
Extraordinary items	0	-100	977,264	-	0	169,768	-100
Other appropriations	0.00	-100	141.37	0.26	141	0	-
Net result	868,648	-23.01	1,128,306	344	253,829	591,997	46.73
OTHER INFORMATION
Dividends	-	-	969,000	-	-	2,556,620	-
Director remuneration	-	-	-	-	-	400,426	-
Employee costs	277,341	8.50	255,619	-1.50	259,520	1,028,761	-73.04
Wages and salary	170,975	6.19	161,005	10.56	145,625	780,536	-78.10
Employee pension costs	-	-	-	-	-	162,630	-
Social security contributions	43,090	-1.88	43,916	16.08	37,833	235,768	-81.72
Other employee costs	63,276	24.81	50,697	-33.35	76,062	25,853	144
Amortization and depreciation	28,735	-46.42	53,634	-17.41	64,939	104,891	-72.61

balance sheet

Annual accounts	30-09-2010	%	30-09-2009	%	30-09-2008	Industry average 2010	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	120,000	-	0	-	0	74,913	60.19
Tangible fixed assets	58,929	4.14	56,589	-35.79	88,127	947,886	-93.78
Land & building	-	-	-	-	-	561,730	-
Plant & machinery	5,723	-23.67	7,498	-14.91	8,812	674,365	-99
Other tangible assets	53,206	8.38	49,091	-38.11	79,315	237,931	-77.64
Financial fixed assets	5,745	0	5,745	-84.36	36,745	8,105,312	-99
Total fixed assets	184,675	196	62,335	-50.08	124,872	5,452,923	-96.61
Inventories	645,220	77.53	363,442	-43.55	643,798	1,424,587	-54.71
Raw materials & consumables	-	-	-	-	-	2,045,883	-
Work in progress	0	-	0	-	0	31,880	-100
Finished goods	0	-	0	-	0	469,846	-100
Other stocks	645,220	77.53	363,442	-43.55	643,798	43,219	1392
Trade debtors	8,761,291	41.06	6,210,844	-2.55	6,373,522	1,650,492	430
Cash	342,445	-38.74	559,006	-18.97	689,838	327,970	4.41
other amounts receivable	748,073	-17.71	909,094	50.36	604,616	655,206	14.17
Miscellaneous current assets	12,034	-26.75	16,429	37.76	11,926	61,296	-80.37
Total current assets	10,509,065	30.40	8,058,815	-3.18	8,323,700	3,290,740	219
CURRENT LIABILITIES
Trade creditors	1,572,582	-22.04	2,017,262	3.22	1,954,398	1,204,891	30.52
Short term group loans	-	-	-	-	-	0	-
Other short term loans	802,088	190	276,231	-30.70	398,611	1,164,771	-31.14
Miscellaneous current liabilities	551,438	5.43	523,030	434	97,775	-17.85	- -
Total current liabilities	2,926,108	3.89	2,816,523	14.92	2,450,784	2,971,166	-1.52
LONG TERM DEBTS
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	5,804,786	36.09	4,265,300	-16.65	5,117,352	-24.88	- -
Other long term liabilities	54,872	-	0	-100	141	231,786	-76.33
Total long term debts	5,859,658	37.38	4,265,300	-16.65	5,117,493	3,454,175	69.64
SHAREHOLDERS EQUITY
Issued share capital	65,000	0	65,000	0	65,000	1,198,075	-94.57
Share premium account	-	-	-	-	-	747,162	-
Reserves	1,842,974	89.15	974,326	19.51	815,295	599,674	207
Revaluation reserve	-	-	-	-	-	242,454	-
Total shareholders equity	1,907,974	83.58	1,039,326	18.07	880,295	1,834,086	4.03
Working capital	7,582,957	44.65	5,242,291	-10.74	5,872,916	319,574	2272
Net worth	1,787,974	72.03	1,039,326	18.07	880,295	1,759,172	1.64

ratio analysis

Annual accounts	30-09-2010	change(%)	30-09-2009	change(%)	30-09-2008	Industry average 2010	%
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-160,00	-
Return on capital employed	14.85	246	4.29	-35.29	6.63	7,00	112
Return on total assets employed	10.79	285	2.80	-40.55	4.71	-39,00	27.67
Return on net assets employed	60.47	176	21.89	-51.53	45.16	4,00	1411
Sales / net working capital	-	-	-	-	-	51,00	-
Stock turnover ratio	-	-	-	-	-	15,00	-
Debtor days	-	-	-	-	-	31.808,00	-
Creditor days	-	-	-	-	-	48,00	-
SHORT TERM STABILITY
Current ratio	3.59	25.52	2.86	-15.88	3.40	20,00	19.67
Liquidity ratio / acid ratio	3.37	23.44	2.73	-12.78	3.13	19,00	-82.26
Current debt ratio	1.53	-43.54	2.71	-2.52	2.78	3,00	-49.00
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	346.28	-20.75	436.97	-30.26	626.60	103,00	236
Equity in percentage	18.04	40.94	12.80	22.84	10.42	-2.603,00	0.69
Total debt ratio	4.60	-32.45	6.81	-20.81	8.60	3,00	53.33

Limit History

no limit history data found

Industry comparison

Activity code	46120
Activity description	Agents involved in the sale of fuels, ores, metals and industrial chemicals
Industry average credit limit	49733.77

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	-
Day sales outstanding	-

Industry comparison

Activity code	46120
Activity description	Agents involved in the sale of fuels, ores, metals and industrial chemicals
Industry average payment expectation days	68.29
Industry average day sales outstanding	84.16

Industry quartile analysis

Payment expectations
Company result	-
Lower	92.86
Median	58.48
Upper	33.43
Day sales outstanding
Company result	-
Lower	71.64
Median	35.61
Upper	12.52

Summary

Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

Business number	Company name	Safe number	%	Limit	Date of accounts
873012371	A.Q. NV	BE01163981	-	€0	31/12/2010

Companies that match this address

Business number	Company name	Limit	Date of accounts
828243903	ABP BTW EENHEID	3000	-
879348253	C 4 Q BVBA	0	30/09/2010
882011003	ASSOCIATED BUSINESS PARTNERS BVBA	0	31/12/2010

Protested bills

Drawee name	-
Address	-
Bill amount	-
Bill currency	-
Maturity of bill	-
Name of drawer	-
City of drawer	-

NSSO details

Business number	477635225
Name of defendant	-
Legal form of defendant	-
Date of summons	-
Labour court	-

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company

Current director details

Name	VONCKX BVBA
Position	Legal Representative
Date of birth	05/01/2010
Street	342 LISPERSTEENWEG LIER
Post code	2500
Country	Belgium
Name	VONCKX BVBA
Position	Director
Date of birth	05/01/2010
Street	342 LISPERSTEENWEG LIER
Post code	2500
Country	Belgium

Name	VONCKX BVBA
Position	Managing Director
Date of birth	05/01/2010
Street	342 LISPERSTEENWEG LIER
Post code	2500
Country	Belgium
Name	3INVEST NV
Position	Legal Representative
Date of birth	28/10/2004
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240
Country	Belgium

Name	3INVEST NV
Position	Managing Director
Date of birth	28/10/2004
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240
Country	Belgium
Name	3INVEST NV
Position	Director
Date of birth	28/10/2004
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240
Country	Belgium

Former director details

Name	PETER FRANS LAMBERT VONCKX
Position	Director
Date of birth	31/10/1969
Street	342 LISPERSTEENWEG LIER
Post code	2500
Country	Belgium
Name	MYRIAM MATHILDA RENÉ VAN GEEL
Position	Director
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240
Country	Belgium

Name	LUC BONAMI
Position	Director
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240
Country	Belgium
Name	LUC BONAMI
Position	Managing Director
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240
Country	Belgium

Name	LUC BONAMI
Position	Chairman of the Board
Street	36 NAZARETHPAD ZANDHOVEN
Post code	2240

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.82
UK Pound	1	Rs.82.07
Euro	1	Rs.68.93

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.