MIRA INFORM REPORT

Report Date :

05.05.2011

IDENTIFICATION DETAILS

Name :	GORIS ROGER BVBA

Registered Office :	Velodroomstraat 3 Heist-Op-Den-Berg, Post Code 2220

Country :	Belgium

Financials (as on) :	31.12.2006

Date of Incorporation :	26.01.1999

Com. Reg. No.:	465392835

Legal Form :	Private Limited Company

Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Poor
Payment Behaviour :	Unknown
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

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Belgium

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

REGISTERED NAME & COMPANY SUMMARY

Business number	465392835	Company name	GORIS ROGER BVBA
Address	VELODROOMSTRAAT 3 HEIST-OP-DEN-BERG	Telephone number	015240648
Post code	2220	Fax number	-
Date of establishment	26/01/1999	Number of staff	1

Business number	465392835	Company name	GORIS ROGER BVBA
Fax number	-	Date founded	26/01/1999
Company status	active	Company type	Private Limited Company (BL/LX)
Currency	Euro (€)	Date of latest accounts	31/12/2006
Activity code	46761	liable for VAT	yes
Activity description	Wholesale of diamonds and other precious stones	VAT Number	BE.0465.392.835.

DIRECTORS/MANAGEMENT

Current director details

Name	LUC GORIS
Position	Principal Manager
Date of birth	30/03/1963
Street	3 VELODROOMSTRAAT HEIST-OP-DEN-BERG
Post code	2220
Country	Belgium

NEGATIVE INFORMATION

Protested bills

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

NSSO details

Business number	465392835
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

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	-
Day sales outstanding	-

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	210.80
Industry average day sales outstanding	165

Industry quartile analysis

Payment expectations	View graph
Company result	-
Lower	171.11
Median	104.98
Upper	49.81

Day sales outstanding	View graph
Company result	-
Lower	153.69
Median	75.14
Upper	33.09

GROUP STRUCTURE & AFFILIATED COMPANIES

Holding company

No holding companies found

Subsidiaries

No subsidiary companies found

Companies that match this address

no Companies Match this address

FINANCIAL INFORMATION

Profit & loss

Annual accounts	31-12-2006	%	31-12-2005	%	31-12-2004	Industry average 2006	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	-	-	-	-	-	21,766,146	-
Total operating expenses	-	-	-	-	-	21,256,074	-
Operating result	50,776	273	13,597	1175	1,066	354,880	-85.69
Total financial income	1	-99	797	-91.11	8,969	406,922	-99
Total financial expenses	-26,351	-457	-4,723	-145	-1,924	-422,858	6.23
Results on ordinary operations before taxation	24,426	152	9,671	19.23	8,111	220,495	-88.92
Taxation	-12,142	-787	1,766	29.92	-5,903	-63,793	19.03
Results on ordinary operations after taxation	36,568	362	7,905	-43.59	14,014	270,508	-86.48
Extraordinary items	0	-	0	-	0	157,865	-100
Other appropriations	-24284	-787	3532	29.92	-11806	0	-
Net result	12,284	7.41	11,437	417	2,208	336,325	-96.35
other information
Dividends	-	-	-	-	-	75,948	-
Director remuneration	-	-	-	-	-	109,088	-
Employee costs	13,806	25.47	11,003	-27.94	15,269	129,899	-89.37
Wages and salary	13,806	25.47	11,003	-27.94	15,269	106,771	-87.07
Employee pension costs	-	-	-	-	-	4,652	-
Social security contributions	-	-	-	-	-	26,534	-
Other employee costs	0	-	0	-	0	5,139	-100
Amortization and depreciation	14,742	34.89	10,929	-37.64	17,527	25,506	-42.20

balance sheet

Annual accounts	31-12-2006	%	31-12-2005	%	31-12-2004	Industry average 2006	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	22,691	-100
Tangible fixed assets	36,807	162	14,042	-43.77	24,971	185,354	-80.14
Land & building	-	-	-	-	-	339,674	-
Plant & machinery	295	-68.04	923	-84.08	5,799	28,294	-98.96
Other tangible assets	36,512	178	13,119	-31.57	19,172	23,965	52.36
Financial fixed assets	2,844	0	2,844	0	2,844	161,035	-98.23
Total fixed assets	39,651	134	16,886	-39.29	27,815	307,005	-87.08
Inventories	127,665	-8.52	139,555	1.70	137,225	3,406,674	-96.25
Raw materials & consumables	-	-	-	-	-	3,341,333	-
Work in progress	0	-	0	-	0	6,284	-100
Finished goods	0	-	0	-	0	2,411,652	-100
Other stocks	127,665	-8.52	139,555	1.70	137,225	511,713	-75.05
Trade debtors	1,176,327	137	494,951	-20.29	620,971	3,736,552	-68.52
Cash	31,146	-85.99	222,341	166	83,523	145,925	-78.66
other amounts receivable	12,679	8.78	11,656	25.45	9,291	268,367	-95.28
Miscellaneous current assets	0	-100	24,943	0	24,943	25,773	-100
Total current assets	1,347,817	50.86	893,446	2.00	875,953	7,124,010	-81.08
current liabilities
Trade creditors	1,173,841	64.65	712,912	2.16	697,814	3,292,012	-64.34
Short term group loans	-	-	-	-	-	0	-
Other short term loans	0	-	0	-	0	1,838,824	-100
Miscellaneous current liabilities	106,642	3.82	102,719	-11.94	116,653	-78.67	- -
Total current liabilities	1,280,483	56.99	815,631	0.14	814,467	5,443,521	-76.48
Long term debts
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	20,642	0	20,642	-22.63	26,679	-98.16	- -
Other long term liabilities	0	-	0	-	0	101,477	-100
Total long term debts	20,642	0	20,642	-22.63	26,679	532,049	-96.12
shareholders equity
Issued share capital	20,005	0	20,005	0	20,005	460,638	-95.66
Share premium account	-	-	-	-	-	154,422	-
Reserves	66,338	22.73	54,054	26.84	42,617	943,449	-92.97
Revaluation reserve	-	-	-	-	-	536,811	-
Total shareholders equity	86,343	16.59	74,059	18.26	62,622	1,420,182	-93.92
Working capital	67,334	-13.47	77,815	26.56	61,486	1,680,488	-95.99
Net worth	86,343	16.59	74,059	18.26	62,622	1,397,491	-93.82

ratio analysis

Annual accounts	31-12-2006	change(%)	31-12-2005	change(%)	31-12-2004	Industry average 2006	%
Trading performance
Profit Before Tax	-	-	-	-	-	15,00	-
Return on capital employed	22.83	123	10.21	12.44	9.08	15,00	52.20
Return on total assets employed	1.76	66.04	1.06	17.78	0.90	9,00	-80.44
Return on net assets employed	28.29	116	13.06	0.85	12.95	-135,00	20.96
Sales / net working capital	-	-	-	-	-	-9,00	-
Stock turnover ratio	-	-	-	-	-	106,00	-
Debtor days	-	-	-	-	-	228,00	-
Creditor days	-	-	-	-	-	99,00	-
short term stability
Current ratio	1.05	-4.55	1.10	1.85	1.08	6,00	0.66
Liquidity ratio / acid ratio	0.95	3.26	0.92	1.10	0.91	5,00	-81.00
Current debt ratio	14.83	34.70	11.01	-15.37	13.01	-159,00	9.33
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	23.91	-14.21	27.87	-34.58	42.60	-40.803,00	0.06
Equity in percentage	6.22	-23.59	8.14	17.46	6.93	-54,00	11.52
Total debt ratio	15.07	33.48	11.29	-15.93	13.43	-329,00	4.58

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Latest branch details

Street	-	Entry date	-
House or po box number	-	Trade register number	-
City	-
Post code	-

Contractor details Check Article 30 Bis

Registered contractor number	-
Contractor description	-
Date struck off register

Personnel limit NSSO

Code	-
Description	FROM 1 TO 4 EMPLOYEES

AMB Publications

AMB publication serial number	38109
Contents	Transfer of registered office
Event filed date	10/03/2008

Belgian Bullettin of Acts Publications moniteur belge

AMB publication serial number	20080310-38109
Contents	Formerly established at L. CARRESTRAAT 79 - 2220 HEIST-OP-DEN-BERG
Event filed date	01/02/2008

AMB publication serial number	20080310-38109
Contents	Transfer of registered office VELODROOMSTRAAT 3 - 2220 HEIST-OP-DEN-BERG
Event filed date	01/02/2008

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.59
UK Pound	1	Rs.73.42
Euro	1	Rs.66.04

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.