MIRA INFORM REPORT

 

 

Report Date :           

18.11.2011

 

IDENTIFICATION DETAILS

 

Name :

ITE INTERNATIONAL TUNNELING EQUIPMENT GMBH

 

 

Registered Office :

Werner-von-Siemens-Str. 7, D 46485 Wesel

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

02.02.2008                   

 

 

Com. Reg. No.:

HRB 23116

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of other general-purpose machinery

 

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

 

Maximum Credit Limit :

45,000 EUR

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Germany

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

ITE International Tunneling Equipment GmbH

 

Main address:

Werner-von-Siemens-Str. 7

D 46485 Wesel

Telephone:        0281/319362-0

Telefax:             0281/319362-62

Homepage:        www.separation.de

E-mail:              info@separation.de

 

 

VAT no     

 

DE258300433

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         02.02.2008

Begin of business

activities:                       02.02.2008

Shareholders'

agreement:                    02.02.2008

Registered on:               01.02.2011

Commercial Register:     Local court 47051 Duisburg

under:                           HRB 23116

Share capital:                 EUR             49,000.00

 

 

Shareholder

 

Frank Schwarzer

Frankfurter Str. 209

D 46562 Voerde

born: 10.03.1965

Share:             EUR             25,000.00

Shareholder:

Abacus alpha GmbH

Johann-Klein-Str. 45

D 67227 Frankenthal

Legal form: Private limited company

Share capital:     EUR             25,000.00

Share:             EUR             16,800.00

Registered on: 28.03.2006

Reg. data: 67061 Ludwigshafen, HRB 60267

 

Shareholder:

Momentum Holding GmbH

An der Althart 23

D 67433 Neustadt

Legal form: Private limited company

Share capital:     EUR             25,000.00

Share:             EUR              4,800.00

Registered on: 10.06.2009

Reg. data: 67061 Ludwigshafen, HRB 61585

 

Shareholder:

Thomas Hubert Götzmann

D 68789 St. Leon-Rot

born: 23.08.1965

Share:             EUR              2,400.00

 

 

Manager

 

Frank Schwarzer

Frankfurter Str. 209

D 46562 Voerde

having sole power of representation

born: 10.03.1965

Profession: Surveying technician

Marital status: married

 

 

Proxy

 

Timo Seidenfuß

D 73430 Aalen

having sole power of representation

born: 03.12.1979

 

Further functions/participations of Frank Schwarzer (Manager)

 

Manager:

                      SEPCOM Gesellschaft mit beschränkter Haftung

                      Werner-von-Siemens-Str. 7

                      D 46485 Wesel

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         12.11.2010

                      Reg. data:  47051 Duisburg, HRB 22878

 

 

COMPANY HISTORY

 

 13.03.2008 - 22.12.2010  ITE International Tunneling Equipment

                          Gesellschaft mit beschränkter Haftung

                          Konrad-Zuse-Str. 22

                          D 52477 Alsdorf

                          Private limited company

 22.12.2010 - 01.02.2011  ITE International Tunneling Equipment

                          GmbH (bis 01.02.2011)

                          Konrad-Zuse-Str. 22

                          D 52477 Alsdorf

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

 Sectors

2829                 Manufacture of other general-purpose machinery n.e.c.

46141               Agents involved in the sale of machines (except agricultural machineryand office machinery) and

industrial  supplies n.e.c.

4669                 Wholesale of other machinery, equipment and supplies

71122               Engineering activities in the field of technical sectoral  planning andengineering design

 

 

PARTICIPATIONS

 

Shareholder:

                      SEPCOM Gesellschaft mit beschränkter Haftung

                      Werner-von-Siemens-Str. 7

                      D 46485 Wesel

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Reg. data:  12.11.2010

                                  Local court 47051 Duisburg

                                  HRB 22878

 

 

FINANCIAL INFORMATION

 

 Payment experience:    within agreed terms

 

 Negative information:     We have no negative information at hand.

 

 Maximum credit:           45,000 EUR

 

Balance sheet year:       2009

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Werner-von-Siemens-Str. 7

                                    D 46485 Wesel

 

Land register documents were not available.

 

 

BANKERS

 

SPARKASSE DINSLAKEN-VOERDE-HÜNXE, DINSLAKEN

Sort. code: 35251000, Account no.: 670914274, BIC: WELADED1DIN

 

 

FINANCIAL FIGURES

 

 Turnover:            2010               EUR          2,650,000.00

 Profit:              2009               EUR            313,908.00

 further business figures:

 Ac/ts receivable:                       EUR            570,816.00

 Liabillities:                           EUR            799,259.00

 Employees:                                                     15

 

The aforementioned business figures may partly be estimated information based on average values in the line of business.

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 27.57

 Liquidity ratio:                   1.05

 Return on total capital [%]:      22.25

 

 Balance sheet ratios 02.02.2008 - 31.12.2008

 Equity ratio [%]:                  9.63

 Liquidity ratio:                   0.66

 Return on total capital [%]:       8.69

 

Equity ratio

The equity ratio indicates the portion of the equity as compared to the total capital. The higher the equity ratio, the better the economic stability (solvency) and thus the financial autonomy of a company.

 

Liquidity ratio

The liquidity ratio shows the proportion between adjusted receivables and net liabilities. The higher the ratio, the lower the company's financial dependancy from external creditors.

 

Return on total capital

The return on total capital shows the efficiency and return on the total capital employed in the company. The higher the return on total capital, the more economically does the company work with the invested capital.

 

Balance sheet grade

The balance sheet grade is based on the following ratios: equity ratio, liquidity ratio and return on total capital from the balance sheets published in the Federal Gazette.

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2009 - 31.12.2009

 

 ASSETS                                  EUR          1,410,806.84

  Fixed assets                           EUR             88,951.00

   Tangible assets                       EUR             88,951.00

    Other / unspecified tangible assets  EUR             88,951.00

  Current assets                         EUR          1,231,051.64

   Stocks                                EUR            407,189.50

   Accounts receivable                   EUR            570,816.31

    Other debtors and assets             EUR            570,816.31

   Liquid means                          EUR            253,045.83

  Remaining other assets                 EUR             90,804.20

   Accruals (assets)                     EUR             90,804.20

 

 LIABILITIES                             EUR          1,410,806.84

  Shareholders' equity                   EUR            388,908.86

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Balance sheet profit/loss (+/-)       EUR            363,908.86

    Profit / loss brought forward        EUR             50,000.00

    Annual surplus / annual deficit      EUR            313,908.86

  Provisions                             EUR            222,638.00

  Liabilities                            EUR            799,259.98

   Other liabilities                     EUR            799,259.98

    Unspecified other liabilities        EUR            799,259.98

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      02.02.2008 - 31.12.2008

 

 ASSETS                                  EUR          2,660,237.13

  Fixed assets                           EUR             33,053.00

   Tangible assets                       EUR             33,053.00

  Current assets                         EUR          2,537,477.67

   Stocks                                EUR          1,099,278.00

   Accounts receivable                   EUR          1,400,045.20

   Liquid means                          EUR             38,154.47

  Remaining other assets                 EUR             89,706.46

   Accruals (assets)                     EUR             89,706.46

 

 LIABILITIES                             EUR          2,660,237.13

  Shareholders' equity                   EUR            256,291.56

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Balance sheet profit/loss (+/-)       EUR            231,291.56

    Annual surplus / annual deficit      EUR            231,291.56

  Provisions                             EUR            246,922.54

  Liabilities                            EUR          2,157,023.03

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.72

UK Pound

1

Rs.79.88

Euro

1

Rs.68.64

 

 

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.