MIRA INFORM REPORT
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Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
TIM WE-SGPS SA |
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Registered Office : |
Avenida Infante Santo, N.º 2, Letra H, 3.º, Postal Code 1350-178-Lisboa, Lisboa District |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
08.02.2006 |
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Com. Reg. No.: |
507523660 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Management of investments in other companies as an indirect form of exercise of economic activities |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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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 |
Identification
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Name |
TIM WE-SGPS SA |
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V.A.T. Number / NIF |
507523660 |
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Address |
Avenida Infante Santo, n.º 2, letra H, 3.º |
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Locality |
LISBOA |
Postal Code |
1350-178-LISBOA |
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Municipality |
LISBOA |
District |
LISBOA |
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Telephone |
212487800 |
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Fax |
212487899 |
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E-Mail |
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C.A.E.(Rev 3) |
64202- Activities of a
holding company non-financial |
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All the amounts are express in Euros, otherwise you
will be advised |
Summary
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Legal Form |
Joint Stock Company |
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Constitution |
08-02-2006 |
V.A.T. Number / NIF |
507523660 |
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Capital |
1.500.000,00 |
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Shareholders Funds in:
31-12-2009 |
14.888.204,00 |
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Credit |
Followed |
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Condition |
Not Determined |
Tendency |
Not Determined |
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Financing |
Not Determined |
Payments |
Not Determined |
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Actual Condition |
In activity |
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Governing Bodies
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Board of Director's |
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ANTONIO RAFAEL DE BRITO FOUTO |
Administrator |
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DIOGO AHRENS TEIXEIRA SALVI |
Board of Director's
President |
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PAULO JORGE PASSOS SALGADO |
Administrator |
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MARTIM AVILLEZ DE AZEVEDO MENEZES |
Administrator |
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RICARDO MANUEL BRAS CALCADO CARVALHO |
Administrator |
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Fiscal Board |
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KPMG & ASSOCIADOS-SOCIEDADE DE REVISORES OFICIAIS DE CONTAS SA |
Unique Fiscal |
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JOAO PAULO DA SILVA PRATAS |
Fiscal Board Substitute |
Banks and Financial Institutions
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MILLENNIUM BCP |
Lisboa |
Historical
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Registered on the
Register Record Office of Lisboa with the Register Number 507523660 in
08-02-2006 |
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Constitution celebrated
in 08-02-2006 published on Portal MJ of 08-02-2006 |
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To oblige the company it
is necessary 2 signature |
Changes to Society
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In 09-03-2011 on Portal MJ of 09-03-2011 reduction of capital from
2.500.000€ to 1.500.000€ |
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In 19-06-2009 on Portal
MJ of 11-08-2010 board of director's change |
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In 22-12-2008 on Portal
MJ of 28-05-2009 board of director's change |
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In 14-10-2008 on Portal
MJ of 23-10-2008 board of director's change |
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In 01-09-2008 on Portal
MJ of 27-05-2009 board of director's change |
Capital
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The Capital is
1.500.000,00 , divided in 3000000 shares , with a nominal value of 0,50 |
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Activities
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Line of Business |
Percentage |
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Management of investments in other companies as an
indirect form of exercise
of economic activities |
100% |
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Type of Clients |
Group Companies |
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Sales Conditions |
Special |
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Sales Area |
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Country |
100% |
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Head Office and Installations
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Head office Avenida Infante Santo, n.º 2, letra H, 3.º, LISBOA ,
1350-178, LISBOA , Tel:212487800, Fax:212487899 |
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Had head office |
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Had head office Praça Dom Pedro IV, nº 74, 2º, letra A, LISBOA,
1070-046, LISBOA |
Incidents
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Legal Actions |
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Date: 08-01-2010 |
Judicial District Lisboa - Juízos de Execuçăo |
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Amount: 16.678,40 Euro |
Type: Executiva Comum |
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Author: Room Space Limited - Sucursal Em |
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Process: 285/10.4YYLSB |
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Observations: 3º Juízo - 1ª Secçăo |
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Date: 05-01-2010 |
Judicial District Almada - Tribunal do Trabalho |
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Amount: 550.000,00 Euro |
Type: Acçăo de Processo Comum |
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Author: Joăo Pedro Montes Gentil Homem |
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Process: 18/10.5TTALM |
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Observations: 1º Juízo |
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Business Concept
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Consulted sources say
that the subject has been respecting its payments and commercial commitments.
However, the incident(s) that we join should be considered in credit
connections. |
Participations
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The subject participates
on the following company(ies) |
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NAME |
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Address |
Av. Infante Santo, 2-H, 3º |
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Locality |
LISBOA |
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C.A.E. |
62090- Other activities
related to information technology and computing |
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Capital |
5.000,00 |
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Participation |
100% |
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NAME |
TOTAL TIM-SERVICOS DE TELECOMUNICACOES MOVEIS E AFINS UNIPESSOAL LDA |
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Address |
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Locality |
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C.A.E. |
61900- Other
telecommunications activities |
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Capital |
5.000,00 |
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Participation |
100% |
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NAME |
TIM W.E. INVESTIGACAO E DESENVOLVIMENTO UNIPESSOAL LDA |
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Address |
Parque de Ciência e Tecnologia da Covilhă, Parkurbis |
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Locality |
TORTOSENDO |
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C.A.E. |
62010- Computer
programming activities |
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Capital |
5.000,00 |
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Participation |
100% |
Financial
Elements
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31-12-2009 |
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Tangible Assets |
1.224.209,00 |
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Investments |
22.681.355,00 |
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Short Term Receivable |
5.892.335,00 |
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Banks and Cash |
197.985,00 |
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Accruals and Deferrals |
318.375,00 |
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Total Assets |
30.314.259,00 |
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Shareholder's Funds |
14.888.204,00 |
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Medium and Long Term
Payable |
4.643.045,00 |
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Short Term Payable |
9.972.171,00 |
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Accruals and Deferrals |
810.839,00 |
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Total Liabilities and
Shareholder's Funds |
30.314.259,00 |
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Outside Supplies and
Services |
889.978,00 |
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Personnel Costs |
587.466,00 |
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Supplementary Income |
1.400.799,00 |
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Comparatives
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31-12-2008 |
31-12-2009 |
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Net Income For the Year |
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5.400.633,00 |
7.542.755,00 |
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Current Assets |
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14.722.931,00 |
6.408.695,00 |
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Short Term Payables |
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9.972.171,00 |
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Cash Flow |
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(3.563.476,00) |
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Total Assets |
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33.319.070,00 |
30.314.259,00 |
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Total Liabilities |
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24.051.022,00 |
15.426.055,00 |
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Shareholders Funds |
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9.268.049,00 |
14.888.204,00 |
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Personnel Costs |
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528.662,00 |
587.466,00 |
Ratios
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31-12-2007 |
31-12-2008 |
31-12-2009 |
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FINANCIAL SITUATION |
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General Liquidity |
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0,64 |
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Immediate Liquidity |
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0,64 |
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Financial Autonomy |
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0,28 |
0,49 |
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Solvency |
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0,39 |
0,97 |
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RENTABILITY |
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Balance Sheet and Income Statement
Balance Sheet
CoinEURO Date31-12-2009
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Gross Assets |
Depreciations /
Provisions |
Net Assets |
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Tangible Assets |
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Subtotal |
1.448.060,00 |
223.851,00 |
1.224.209,00 |
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Financial
Investments |
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Subtotal |
22.681.355,00 |
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22.681.355,00 |
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Short
Term Receivable |
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Subtotal |
5.892.335,00 |
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5.892.335,00 |
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Bank
Deposits and Cash |
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Bank Deposites |
197.985,00 |
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197.985,00 |
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Subtotal |
197.985,00 |
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197.985,00 |
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Accruals
and Deferrals |
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Accrued Income |
264.809,00 |
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264.809,00 |
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Deferred Cost |
53.566,00 |
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53.566,00 |
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Subtotal |
318.375,00 |
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318.375,00 |
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Total Assets |
30.538.110,00 |
223.851,00 |
30.314.259,00 |
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Shareholders
Funds and Liabilities |
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Shareholders Funds |
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Capital |
2.500.000,00 |
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Treasury Stock: |
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Nominal Value |
(750.000,00) |
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Capital Adjustments |
8.611.593,00 |
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Reserves : |
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Free |
3.196.354,00 |
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Net Retained |
(6.212.499,00) |
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Net Income For the Year |
7.542.755,00 |
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Total |
14.888.204,00 |
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Short
Term Payable |
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Bank Loans |
2.000.000,00 |
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Supliers Fixed Asset |
1.056.482,00 |
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State and Other Public
Bodies |
21.035,00 |
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Other Creditors |
237.369,00 |
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Trade Creditors |
49.014,00 |
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Group Companies |
6.608.273,00 |
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Subtotal |
9.972.171,00 |
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Medium
and Long Term Payable |
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Bank Loans |
4.643.045,00 |
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Subtotal |
4.643.045,00 |
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Accruals
and Deferrals |
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Accrued Charges |
810.839,00 |
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Subtotal |
810.839,00 |
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TOTAL LIABILITIES |
15.426.055,00 |
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TOTAL LIABILITIES AND
SHAREHOLDERS FUNDS |
30.314.259,00 |
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Income
Statement |
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Costs
and Losses |
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Cost of Materials
Consumed and Goods Sold: |
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Outside Supplies and
Services |
889.978,00 |
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Personnel Costs |
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Subtotal |
587.466,00 |
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Depreciation |
216.955,00 |
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Provisions |
529.355,00 |
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Subtotal |
746.310,00 |
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Other Operating Costs |
21.771,00 |
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Int. and Similar Costs: |
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Subtotal |
2.177.974,00 |
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Ext. Costs and Losses |
2.958,00 |
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Taxation Over Income |
12.368,00 |
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Net Income For the Year |
7.542.755,00 |
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Income
and Profits |
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Sales of : |
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Supplementary Income |
1.400.799,00 |
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Subtotal |
1.400.799,00 |
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Trading Securities Income
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Int. and Similar Costs |
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Other |
10.579.329,00 |
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Extra Income and Gains |
1.451,00 |
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Net Income For the Year |
7.542.755,00 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.97 |
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1 |
Rs.73.35 |
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Euro |
1 |
Rs.63.98 |
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 |
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.