MIRA INFORM REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARJAV ASSOCIATES NV |
|
|
|
|
Registered Office : |
18, Schupstraat, Antwerpen |
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|
|
|
Country : |
Belgium |
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|
|
|
Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
18.12.1995 |
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|
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Com. Reg. No.: |
456697378 |
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|
|
|
Legal Form : |
Limited Company |
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|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
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 |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
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Company Number |
456697378 |
|
Name |
|
|
Address |
18, SCHUPSTRAAT, ANTWERPEN |
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Post Code |
|
|
Telephone Number |
032322066 |
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Fax Number |
032322066 |
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Establishment Date |
18-12-1995 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
|
Number of Employees |
1 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
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House Number |
|
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City |
-- |
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Postal Code |
|
|
Trade Registered Number |
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Trade Registered Entry Date |
-- |
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Contractor Details |
|
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Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
|
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Serial Number |
114440 |
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Event Description |
Reappointment commissioner |
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Rating and Limit |
|
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Credit Information |
|
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Purchase Limit (€) |
4,500,000 |
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Industry Comparison |
|
|
Industry Average Credit Limit (€) |
161,057 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
15.03 |
|
Day Sales Outstanding |
34.32 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
124.66 |
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Industry Average Payment Expectation Days |
137 |
|
Industry Quartile Analysis |
|
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Payment Expectations - Lower |
41.25 |
|
Payment Expectations - Median |
90.32 |
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Payment Expectations - Upper |
162.53 |
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|
|
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Day Sales Outstanding - Lower |
31.52 |
|
Day Sales Outstanding - Median |
75.21 |
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Day Sales Outstanding - Upper |
158.58 |
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Company Shareholder Holding |
|
Company Accounts
|
Period |
|||
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Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
45,395,649 |
62,235,221 |
87,213,591 |
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Total Operating Expenses |
42,883,911 |
59,707,359 |
86,108,657 |
|
Operating Result |
2,511,738 |
2,527,862 |
1,104,934 |
|
Total Financial Income |
- |
3,758,186 |
6,729,162 |
|
Total Financial Expenses |
2,434,595 |
6,207,104 |
7,673,581 |
|
Results on Ordinary Operations Before Tax |
77,143 |
78,943 |
160,515 |
|
Taxation |
15,255 |
22,634 |
57,866 |
|
Results on Ordinary Operations After Tax |
61,888 |
56,309 |
102,649 |
|
Extraordinary Items |
0 |
0 |
1,533 |
|
Net Result |
61,888 |
56,310 |
104,182 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
99,653 |
99,653 |
99,653 |
|
Employee Costs |
27,906 |
26,531 |
25,706 |
|
- Wages & Salaries |
22,988 |
21,996 |
21,357 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
4,587 |
4,285 |
3,919 |
|
- Other Employee Costs |
331 |
250 |
430 |
|
Amortization & Depreciation |
67,219 |
66,114 |
61,323 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
1,180,269 |
1,247,488 |
1,313,602 |
|
- Land And Buildings |
1,137,841 |
1,192,632 |
1,247,422 |
|
- Plant And Machinery |
31,930 |
39,177 |
46,423 |
|
- Other Tangible Assets |
10,498 |
15,679 |
19,757 |
|
Financial Fixed Assets |
0 |
0 |
0 |
|
Total Fixed Assets |
1,180,269 |
1,247,488 |
1,313,602 |
|
Inventories |
8,572,728 |
32,490,092 |
22,900,684 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
8,572,728 |
32,490,092 |
22,900,684 |
|
Trade Debtors |
4,268,309 |
25,601,127 |
37,578,653 |
|
Cash |
37,852 |
24,732 |
16,231 |
|
- Miscellaneous Current Assets |
50,686 |
55,393 |
79,171 |
|
Total Current Assets |
13,036,482 |
58,211,755 |
60,585,890 |
|
Current Liabilities |
|||
|
- Trade Creditors |
1,766,225 |
8,206,134 |
10,123,589 |
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- Short Term Group Loans |
0 |
0 |
0 |
|
- Other Short Term Loans |
326,054 |
22,803,833 |
24,517,980 |
|
- Miscellaneous Current Liabilities |
47,661 |
27,015 |
56,461 |
|
Total Current Liabilities |
2,139,940 |
31,036,982 |
34,698,030 |
|
Long Term Debts |
|||
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- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
0 |
15,808,005 |
14,944,637 |
|
- Other Long Term Liabilities |
310 |
599,643 |
298,521 |
|
Total Long Term Debts |
310 |
16,407,648 |
15,243,158 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
247,894 |
247,894 |
247,894 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
11,828,607 |
11,766,719 |
11,710,410 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
12,076,501 |
12,014,613 |
11,958,304 |
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|
|||
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Working Capital |
10,896,542 |
27,174,773 |
25,887,860 |
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Net Worth |
12,076,501 |
12,014,613 |
11,958,304 |
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Ratio Analysis |
|||
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.17 |
0.13 |
0.18 |
|
Return On Capital Employed |
0.64 |
0.28 |
0.59 |
|
Return On Total Assets Employed |
0.54 |
0.13 |
0.26 |
|
Return On Net Assets Employed |
0.71 |
0.29 |
0.62 |
|
Sales / Net Working Capital |
4.17 |
2.29 |
3.37 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
18.88 |
52.21 |
26.26 |
|
Debtor Days |
34.32 |
150.15 |
157.27 |
|
Creditor Days |
15.03 |
50.17 |
42.91 |
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Short Term Stability |
|||
|
Current Ratio |
6.09 |
1.88 |
1.75 |
|
Liquidity Ratio / Acid Ratio |
2.09 |
0.83 |
1.09 |
|
Current Debt Ratio |
0.18 |
2.58 |
2.90 |
|
Long Term Stability |
|||
|
Gearing |
2.70 |
321.37 |
330 |
|
Equity In Percentage |
0.85 |
0.20 |
0.19 |
|
Total Debt Ratio |
0.03 |
3.21 |
3.30 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
|
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO Details |
|
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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Labour Court |
-- |
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Directors |
|
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Company Director |
|
|
Full Name |
ASHIT VASANTLAL MEHTA |
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Birth Date |
1957-04-29 |
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Position Description |
Managing director |
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Address |
19 DELLA FAILLELAAN ANTWERPEN |
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Country |
-- |
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Postal Code |
2020 |
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Birth Date |
2014-01-01 |
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Company Director |
|
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Full Name |
RAINBOW INVESTMENTS NV |
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Birth Date |
|
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Position Description |
Director |
|
Address |
18 SCHUPSTRAAT ANTWERPEN |
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Country |
-- |
|
Postal Code |
2018 |
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Birth Date |
2014-01-01 |
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Company Director |
|
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Full Name |
SOLITAIRE JEWELLERY PTE LTD |
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Birth Date |
|
|
Position Description |
Director |
|
Address |
10 101,CECIL STREET SINGAPORE |
|
Country |
Singapore |
|
Postal Code |
69533 |
|
Birth Date |
2014-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
UK Pound |
1 |
Rs.63.57 |
|
Euro |
1 |
Rs.72.97 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.