MIRA INFORM REPORT

 

 

Report Date :

17.06.2011

 

IDENTIFICATION DETAILS

 

Name :

VAN REES B.V.

 

 

Registered Office :

Postbus 914, 3000AX Rotterdam,

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.07.1904

 

 

Com. Reg. No.:

24109248

 

 

Legal Form :

 Private Company (Besloten Vennootschap)

 

 

Line of Business :

Wholesale of Coffee, Tea, Cacao and Spices

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

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

 

Maximum Credit Limit :

€ 200.000

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 – March 31st, 2010

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

CONTACTINFORMATION

 

Company name

Van Rees B.V.

Tradename

Van Rees B.V.

Address

Wijnhaven 65

 

3011W Rotterdam

 

Netherlands

Mail address

Postbus 914

 

3000AX Rotterdam

 

Netherlands

Telephone number

010-4021750

Telefax number

010-4136881

E-mail address

info@vanrees.com

Website

www.vanrees.com

Branch(es)

Van Rees B.V. (24109248.0001)

 

Metaalstraat 4

 

5107ND DONGEN

 

 

CREDIT LIMIT

 

Credit limit

A credit of € 200.000 may be granted

 

Special remarks

Sole ownership of Amsterdam Commodities N.V

In the mid 1960's, Van Rees became part of the NV Deli Maatschappij group and remained in their ownership until mid 2010, when the company was acquired into the sole ownership of Amsterdam Commodities N.V (Acomo).

 

 

COMPANY INFORMATION

 

Handels register number 24109248

Registered in Chamber of commerce Rotterdam

Act of foundation 02-07-1904

Date of constitution 02-07-1904

 

Continuation date

22-09-1972

Last change in statutes

23-06-2010

Legal form

Besloten Vennootschap (Limited Company)

Place of constitution

Rotterdam

Capital

EUR 2.250.000

Issued capital

EUR 567.300

Paid up capital

EUR 567.300

 

NACE-code Wholesale of coffee, tea, cacao and spices (excl. raw tropical products) (5137)

SBI-code Wholesale of coffee, tea, cocoa and spices (none ruwe) (4637)

Formal objective Uitoefening van land- en mijnbouw, handel, industrie, het vervoeren al dan niet over zee van goods alsmede houdsteractiviteiten.

 

 

COMPANY STRUCTURE

 

Shareholder

N.V. Deli Maatschappij

 

Wijnhaven 65

 

3011W Rotterdam

 

Netherlands

 

KvK: 24117563

 

Percentage: 100.00%

 

Van Rees Group B.V.

 

Wijnhaven 65

 

3011W ROTTERDAM

 

Netherlands

 

KvK: 51461579

 

Active since: 15-12-2010

 

Percentage: 100.00%

Ultimate parent company

Amsterdam Commodities N.V.

 

Beursplein 37

 

3011AA Rotterdam

 

KvK: 24191858

Holding company

Van Rees Group B.V.

 

Wijnhaven 65

 

3011W ROTTERDAM

 

KvK: 51461579

Subsidiary

Van Rees Ceylon B.V.

 

Wijnhaven 65

 

3011W ROTTERDAM

 

KvK: 24099473

 

Vriesthee B.V.

 

Wijnhaven 65

 

3011W ROTTERDAM

 

KvK: 24104276

Liability declaration

N.V. Deli Maatschappij (24117563)

 

Wijnhaven 65

 

3011W Rotterdam

 

Acomo Investments B.V. (24168177)

Beursplein 37 8e etage

3011AA ROTTERDAM

 

Bankers

ABN Amro Bankers NV ING Bankers NV

 

 

MANAGEMENT

 

Management

P.A.G.M. van Rijen

Philippus Albertus Gemma Marie

Authorization: Fully authorized

Position: Manager

Date appointed: 19-06-2006

Date of birth: 07-05-1946

F.J.P. van der Vleuten Fons Johannes Petrus Authorization: Limited authorization Position: Financieel manager Date appointed: 02-06-2008 Date of birth: 22-10-1969

N. Hollanders Neeltje

Authorization: Limited authorization Position: Proxy Date appointed: 19-06-2006 Date of birth: 04-07-1966

P.F. Miles

Philip Ford

Authorization: Limited authorization Position: Proxy Date appointed: 14-06-1993 Date of birth: 16-12-1954

A.K. Visser

Adriaan Klaas

Authorization: Limited authorization Position: Proxy Date appointed: 01-08-1986 Date of birth: 15-03-1946

 

 

PAYMENT INFORMATION

 

Payment experiences Payments are regular, no complaints are known

Payments Based on multiple

payment experiences up to € 25.000

Quarter: 3 2010: 33 Average days

Quarter: 4 2010: 108 Average days

Quarter: 1 2011: 30 Average days

Quarter: 2 2011: 30 Average days

 

Total

64

100%

65.942

 

46.725

64.948

 

Within terms

46

99,3%

65.472

66.140

2.673

62.131

 

Delayed 0 - 30

14

0,7%

470

 

36.142

2.817

 

Delayed 31 - 60

 

 

 

 

 

 

 

Delayed 61 - 90

 

 

 

 

 

 

 

Delayed 91 - 120

2

0,0%

 

 

3.164

 

 

Delayed 120+ days

2

0,0%

 

 

4.746

 

 

 

FINANCIAL INFORMATION

 

 

 

Auditor's report

Not available

Type of publication

Consolidated

Annual accounts van

Amsterdam Commodities N.V.

 

Beursplein 37

 

3011AA Rotterdam

 

KvK: 24191858

Publication

Steady

 

CORE FIGURES

 

 

 

 

 

BOOKYEAR

2010

2009

2008

Quick ratio

0,60

0,82

0,70

Current ratio

1,50

1,84

1,74

Nett workingcapital / Balance total

0,23

0,34

0,33

Capital and reserves / Balance total

0,31

0,55

0,54

Capital and reserves / Fixed assets

1,04

2,18

2,30

Solvency

0,46

1,21

1,19

Nett workingcapital

55.854.508

24.621.697

20.930.889

Capital and reserves

74.802.445

39.381.540

34.899.127

Change capital and reserves

89,94%

12,84%

8,89%

change short term liabilities

280,82%

3,78%

2,52%

Nett Turnover

374.907.518

164.518.997

175.308.349

Operating profit

29.702.944

13.137.957

9.373.959

 

Annual accounts The published financial information is the consolidated group information.

Last annual accounts 2010

 

 

Capital and reserves       2010 74.802.445

Total debt                      2010 163.798.048

Current ratio                  2010 1,50

Quick ratio                    2010 0,60

 

 

 

BALANCE

 

BOOKYEAR

2010

2009

2008

End of bookyear

31-12-2010

31-12-2009

31-12-2008

Intangible assets

48.071.737

4.604.917

1.529.090

Tangible assets

23.259.372

1.540.493

492.739

Financial assets

296.944

11.626.343

13.138.197

Other fixed assets

 

320.260

 

Fixed assets

71.628.053

18.092.013

15.160.026

 

Stocks and work in progress

100.281.831

29.757.260

29.339.554

Trade debtors

54.975.711

 

 

Other amounts receivable

4.298.407

 

 

Accounts receivable

59.274.118

14.177.598

13.842.833

Stocks

745.117

 

 

Liquid assets

6.671.374

9.430.287

5.400.560

Other current assets

 

435.057

463.962

Current assets

166.972.440

53.800.202

49.046.909

Total assets

238.600.493

71.892.215

64.206.935

 

Capital and reserves

74.802.445

39.381.540

34.899.127

Pension obligations

1.524.375

 

 

Long term interest yealding debts

19.901.725

 

 

Financial debts

23.054.992

 

 

Taxes, remuneration & soc.security

5.863.211

 

 

other long term debts

2.335.813

3.332.170

 

Long term liabilities

52.680.116

3.332.170

1.191.788

Trade debts suppliers

30.821.735

 

 

Debts to credit institutions

59.989.769

 

 

Financial debts

792.823

 

 

Taxes, remuneration & soc.security

5.425.318

 

 

Other short term debts

14.088.287

29.178.505

 

Total short term debt

111.117.932

29.178.505

28.116.020

Total debt

163.798.048

32.510.675

29.307.808

Total Liabilities

238.600.493

71.892.215

64.206.935

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2010

2009

2008

Turnover

 

164.518.997

175.308.349

Nett Turnover

374.907.518

164.518.997

175.308.349

Cost of sales

314.647.540

140.890.903

156.847.259

Gross profit

60.259.978

23.628.094

18.461.090

Wages employees

18.619.369

 

 

Productiekosten

 

1.726.788

1.735.090

Sales costs

 

4.793.101

3.934.677

Depreciation and amortization

1.965.377

 

 

Other operating charges

9.972.288

3.970.248

3.417.364

Operating charges

30.557.034

10.490.137

9.087.131

Operating profit

29.702.944

13.137.957

9.373.959

 

Financial income

254.228

987.585

2.713.555

Financial charges

3.411.895

297.581

1.042.672

Financial result

-3.157.667

690.004

1.670.883

Other income

0

 

 

Other charges

4.564

 

 

Other result

-4.564

 

 

Result before taxes

26.540.713

13.827.961

11.044.842

Income taxes

8.310.018

3.296.075

2.303.333

Result after taxes

18.230.695

10.531.886

8.741.509

Extraordinary income

0

 

 

Extraordinary charges

2.754.817

 

 

Extraordinary result

-2.754.817

 

 

Taxes on extraordinary result

-2.754.817

 

 

Extraordinary result after taxes

-2.754.817

 

 

Nett result

15.475.878

10.531.886

8.741.509

 

History

 

Liability statements

Since 23-06-2010 filed a withdrawal of declaration of liability by N.V. Deli Maatschappij.

Since 21-09-2010 filed a declaration of liability by Moen's Exoten B.V..

Consent statements

Over bookyear 2011 a consent agreement is filed Over bookyear 2010 a consent agreement is filed Over bookyear 2009 a consent agreement is filed Over bookyear 2008 a consent agreement is filed

Management

Since 28-03-2011 is Proxy Jan Anthonisse out of office.

Since 03-06-2010 is Proxy Hendrik Jan van Meerten out of office.

Since 03-06-2010 is Proxy Paul Bernhard Stemmer out of office.

Modifications

Since 23-6-2010 statutes modified.

 

 

BODEGRAVEN

 

Subsidiary (100%)

■ King Nuts B.V. (29047155)

BODEGRAVEN

Subsidiary o Tefco Euroingredients B.V. (29034877)

BODEGRAVEN

Subsidiary (100%) o Technische Handelmaatschappij Agrotrade B.V. (33012538)

AMSTERDAM Subsidiary (100%) o Tiedeman & van Kerchem B.V. (33081106)

AMSTERDAM

Subsidiary

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.90

UK Pound

1

Rs.72.54

Euro

1

Rs.63.39

 

 

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.