MIRA INFORM REPORT

Report Date :

25.01.2011

IDENTIFICATION DETAILS

Name :	Benelux Diamonds NV

Registered Office :	Pelikanstraat 62, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2009

Date of Incorporation :	27.02.1958

Com. Reg. No.:	403762597

Legal Form :	Limited Company

Line of Business :	Wholesale of Diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Belgium

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

Company Summary

Company Summary
Business Name	BENELUX DIAMONDS NV
Business Number	403762597
Address	PELIKAANSTRAAT 62 ANTWERPEN
Post Code	2018
Telephone	032338274
Fax Number	032326033
Date of Establishment	27/02/1958
Number of Employees	18

Credit Information Summary
Purchase Limit (€)	2,200,000
Date of Deposit at Registry	29/07/2010
Date of Last Accounts	31/12/2009
Turnover	8,820,405
Results of Ordinary Operations Before Tax	8,172
Networth	1,137,559

Past Payments
Payment Expectation Days	164.40
Days Sales Outstanding	126.67
Industry Average Payment Expectation Days	136.47
Industry Average Day Sales Outstanding	125.25

Court Data Summary
bankruptcy details
Court Action Type	None
Protested Bills
Bill Amount
NSSO Details
Date of Summons	//

Accounts & Ratio

Period
Accounts End Date	31/12/2009	%	31/12/2008	%	31/12/2007
Weeks	52	-	52	-	52
Currency	EUR	-	EUR	-	EUR

Profit & Loss
Turnover	8,820,405	-6.3%	9,414,704	-36.6%	14,860,174
Total Operating Expenses	8,695,625	-8.0%	9,449,661	-36.0%	14,765,236
Operating Result	124,780	457.0%	-34,957	-136.8%	94,938
Total Financial Income	3,865	-43.8%	6,880	15.3%	5,967
Total Financial Expenses	120,370	549.5%	18,534	-55.0%	41,178
Results on Ordinary Operations Before Tax	8,276	117.8%	-46,612	-178.0%	59,727
Taxation	104	500.0%	-26	-100.2%	12,746
Results on Ordinary Operations After Tax	8,172	117.5%	-46,586	-199.2%	46,981
Extraordinary Items	0	-	0	-	0
Net Result	8,172	117.5%	-46,586	-199.2%	46,981
Other Information
Dividends	-	-	-	-	-
Director Remuneration	-	-	-	-	-
Employee Costs	670,514	1.8%	658,411	-8.5%	719,199
- Wages & Salaries	524,279	0.8%	520,005	-10.3%	579,777
- Social Security Contributions	132,278	5.8%	125,024	0.1%	124,941
- Other Employee Costs	13,957	4.3%	13,382	-7.6%	14,481
Amortization & Depreciation	64,420	-15.3%	76,096	-3.4%	78,792

Balance Sheet
Accounts End Date	31/12/2009	%	31/12/2008	%	31/12/2007
Weeks	52	-	52	-	52
Intangible Fixed Assets	0	-	0	-	0
Tangible Fixed Assets	260,593	-14.3%	304,206	-17.4%	368,343
- Land And Buildings	200,550	-9.1%	220,737	-7.8%	239,307
- Plant And Machinery	57,683	-27.4%	79,450	-35.6%	123,404
- Other Tangible Assets	2,360	-41.3%	4,019	-28.6%	5,632
Financial Fixed Assets	17,498	-9.9%	19,422	-1.3%	19,670
Total Fixed Assets	278,091	-14.1%	323,628	-16.6%	388,013
Inventories
- Raw Materials & Consumables	0	-	0	-	0
- Work in Progress	0	-	0	-	0
- Finished Goods	0	-	0	-	0
- Other Stocks	2,806,377	-42.4%	4,868,345	-3.1%	5,026,089
Trade Debtors	3,061,032	-28.7%	4,291,753	48.1%	2,898,256
Cash	510,422	1.1%	505,107	-18.9%	623,188
- Miscellaneous Current Assets	140,607	101.6%	69,732	13.0%	61,721
Total Current Assets	6,632,196	-32.6%	9,836,449	13.1%	8,700,967

- Trade Creditors	3,916,558	-45.0%	7,127,286	17.9%	6,042,775
- Short Term Group Loans	0	-	0	-	0
- Other Short Term Loans	0	-	0	-	0
- Miscellaneous Current Liabilities	1,856,001	-2.5%	1,903,186	1.8%	1,869,295
Total Current Liabilities	5,772,559	-36.1%	9,030,472	14.1%	7,912,070

- Long Term Group Loans	0	-	0	-	0
- Other Long Term Loans	0	-	0	-	0
- Other Long Term Liabilities	170	-21.7%	217	-76.8%	937
Total Long Term Debts	170	-21.7%	217	-76.8%	937

- Issued Share Capital	1,000,000	0.0%	1,000,000	0.0%	1,000,000
- Share Premium Account	0	-	0	-	0
- Reserves	137,559	6.3%	129,387	-26.5%	175,973
- Revaluation Reserve	0	-	0	-	0
Total Shareholders Equity	1,137,559	0.7%	1,129,387	-4.0%	1,175,973

Working Capital	859,637	6.7%	805,977	2.2%	788,897
Net Worth	1,137,559	0.7%	1,129,387	-4.0%	1,175,973

Ratio Analysis
Trading Performance
Pre-tax Profit Margin	0.09	118.0%	-0.50	-225.0%	0.40
Return On Capital Employed	0.73	117.7%	-4.13	-181.5%	5.07
Return On Total Assets Employed	0.12	126.1%	-0.46	-169.7%	0.66
Return On Net Assets Employed	0.96	116.6%	-5.78	-176.4%	7.57
Sales / Net Working Capital	10.26	-12.2%	11.68	-38.0%	18.84
Operating Efficiency
Stock Turnover Ratio	31.82	-38.5%	51.71	52.9%	33.82
Debtor Days	126.67	-23.9%	166.39	133.7%	71.19
Creditor Days	164.40	-40.3%	275.30	84.3%	149.38
Short Term Stability
Current Ratio	1.15	5.5%	1.09	-0.9%	1.10
Liquidity Ratio / Acid Ratio	0.66	20.0%	0.55	19.6%	0.46
Current Debt Ratio	5.07	-36.6%	8.00	18.9%	6.73
Long Term Stability
Gearing	0	-	0	-	0
Equity In Percentage	0.16	45.5%	0.11	-15.4%	0.13
Total Debt Ratio	0	-	0	-	0

Industry Comparison
Activity Code	46761
Activity Description	Wholesale of diamonds and other precious stones
Industry Average Credit Rating	62.24
Industry Average Credit Limit (€)	142,835

Payment Expectations

Payment Expectations
Payment Expectation Days	164.40
Day Sales Outstanding	126.67

Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	125.25
Industry Average Payment Expectation Days	136.47

Industry Quartile Analysis
Payment Expectation Days
Payment Expectations - Lower	41.24
Payment Expectations - Median	90.29
Payment Expectations - Upper	162.11
Day Sales Outstanding
Day Sales Outstanding - Lower	31.74
Day Sales Outstanding - Median	74.91
Day Sales Outstanding - Upper	158.58

Shareholders

No holding companies for this company.

No subsidiaries for this company.

Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--

NSSO Details
Business Number
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--

Bankruptcy Data

There is no bankruptcy data against this company.

Directors

Company Director
Full Name	BERT JAN AUGUST SCHATZ
Position	Managing director
Address	68 P.C. HOOFTSTRAAT AMSTERDAM
Postal Code	0
Country	The Netherlands

Company Director
Full Name	ROELAND NUBAR PEPE SCHATZ
Position	Director
Address	133 CHEMIN DU GROS TIENNE LASNE
Postal Code	1380
Country	--

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.58
UK Pound	1	Rs.72.79
Euro	1	Rs.62.01

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 Company	----

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.

Latest Branch Details
Street	--
House Number
City	--
Postal Code
Trade Registered Number
Trade Registered Entry Date	//

Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	//

Latest Event
Serial Number	182224
Event Description	Reappointment commissioner
view all

company details
Business Number	403762597
Name	BENELUX DIAMONDS NV
Fax Number	032326033
Establishment Date	27/02/1958
Company Status	ACTIVE
Company Type	Limited company
Activity Description	Wholesale of diamonds and other precious stones
Activity Code	46761
Liable For Vat	yes
Currency	Euro (€)