MIRA INFORM REPORT
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Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ASPECO |
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Registered Office : |
Schupstraat 21 B.1, Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
465442820 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Wholesale of other intermediate products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Belgium |
a1 |
a1 |
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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 |
Company name & address
Aspeco
Schupstraat 21 B.1
Antwerpen, 2018
Belgium
Tel: 03 401 10 00
Fax: 03 234 18 15
Synthesis
Employees: NA
Company Type: Private Subsidiary
Corporate Family: 18
Companies
Ultimate Parent: Kbc Groep - Kbc Groupe - Kbc Group -
Kbc Gruppe
Incorporation Date: 1999
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2010
Reporting Currency: Euro
Annual Sales: 150.0
1
Total Assets: 61.4
Business Description
Wholesale of other intermediate products
Industry
Industry Retail (Department and Discount)
ANZSIC 2006: 373 - Furniture,
Floor Covering and Other Goods Wholesaling
NACE 2002: 5156 - Wholesale
of other intermediate products
NAICS 2002: 4239 -
Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2003: 5156 - Wholesale
of other intermediate products
US SIC 1987: 509 -
Miscellaneous Durable Goods
Key Executives
|
Name |
Title |
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Pranay Kumar Rasiklal Mehta |
Partner |
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Yogesh Natwarlal Shah |
Administrator |
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Nitin Kumar Natwarlal Shah |
Administrator |
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Stefaan Paul Maria Beirens |
Representative/Auditor |
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Philippe Anna Richard Francois |
Representative/Auditor |
Registered No.(VAT): 465442820
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7086099
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7390437
Corporate Overview
Location
Schupstraat 21 B.1
Antwerpen, 2018
Belgium
Tel: 03 401 10 00
Fax: 03 234 18 15
Sales EUR(mil): 106.3
Assets EUR(mil): 45.4
Employees: NA
Fiscal Year End: 31-Mar-2010
Industry: Retail
(Department and Discount)
Incorporation Date: 1999
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(VAT): 465442820
Managing Director: Bela
Nitinkumar Shah
Contents
· Industry Codes
· Business Description
· Financial Data
Industry Codes
ANZSIC 2006 Codes:
373 - Furniture, Floor Covering and Other Goods Wholesaling
NACE 2002 Codes:
5156 - Wholesale of other intermediate products
NAICS 2002 Codes:
4239 - Miscellaneous Durable Goods Merchant Wholesalers
US SIC 1987:
509 - Miscellaneous Durable Goods
UK SIC 2003:
5156 - Wholesale of other intermediate products
Business
Description
Wholesale of other intermediate products
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Corporate
Family |
Corporate
Structure News: |
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Aspeco |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Kbc Groep - Kbc Groupe - Kbc Group - Kbc
Gruppe |
Parent |
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|
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Subsidiary |
Bruxelles |
Belgium |
Investment Services |
3.3 |
22 |
|
|
|
Subsidiary |
Bruxelles |
Belgium |
Engineering Consultants |
32.4 |
226 |
|
|
|
Subsidiary |
Bruxelles |
Belgium |
Business Services |
28.5 |
151 |
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Subsidiary |
Bruxelles |
Belgium |
Personal Services |
19.6 |
28 |
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Subsidiary |
Mont-Sur-Marchienne |
Belgium |
Construction Services |
0.0 |
19 |
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Subsidiary |
Bruxelles |
Belgium |
Business Services |
2.3 |
7 |
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Subsidiary |
Bavikhove |
Belgium |
Personal and Household Products |
0.0 |
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Subsidiary |
Sterrebeek |
Belgium |
Trucking |
0.0 |
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Subsidiary |
Mechelen |
Belgium |
Biotechnology and Drugs |
24.7 |
82 |
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Subsidiary |
Antwerpen |
Belgium |
Retail (Department and Discount) |
150.0 |
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Subsidiary |
Sint-Katelijne-Waver |
Belgium |
Construction - Supplies and Fixtures |
0.0 |
17 |
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Subsidiary |
Sambreville |
Belgium |
Construction - Supplies and Fixtures |
0.0 |
10 |
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Subsidiary |
Jumet |
Belgium |
Construction Services |
0.0 |
7 |
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Subsidiary |
Roeselare |
Belgium |
Food Processing |
8.5 |
5 |
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Subsidiary |
Tournai |
Belgium |
Trucking |
0.0 |
4 |
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Subsidiary |
Oostrozebeke |
Belgium |
Fish and Livestock |
0.0 |
3 |
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Subsidiary |
Leffinge |
Belgium |
Business Services |
0.0 |
1 |
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Executive report
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Executives |
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Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Administrator |
Administration Executive |
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Administrator |
Administration Executive |
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Representative/Auditor |
Accounting Executive |
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Representative/Auditor |
Accounting Executive |
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Partner |
Partner |
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Partner |
Partner |
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Annual Profit & Loss
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31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.70861 |
0.707647 |
0.707132 |
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Consolidated |
No |
No |
No |
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Turnover |
150.0 |
159.0 |
153.0 |
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Other Operating
Income |
0.0 |
0.0 |
0.0 |
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Operating Income |
150.1 |
159.0 |
153.0 |
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Purchases |
134.5 |
164.0 |
132.6 |
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Increase
or Decrease in Stocks |
10.7 |
-11.4 |
14.5 |
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Raw Materials,
Consumables, and Goods for Release |
145.2 |
152.7 |
147.1 |
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Services and
Sundry Goods |
1.1 |
1.2 |
1.3 |
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Remuneration,
Social Security Charges, and Pensions |
0.9 |
1.2 |
1.1 |
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Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
0.4 |
0.4 |
0.4 |
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Increase or
Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors |
0.1 |
- |
0.1 |
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Other Operating
Charges |
0.0 |
0.0 |
0.1 |
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Operating
Charges |
147.7 |
155.5 |
150.1 |
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Other Financial
Income |
0.0 |
0.0 |
0.0 |
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Financial Income |
0.0 |
0.0 |
0.0 |
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Interest and Other
Debt Charges |
2.1 |
3.2 |
2.5 |
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Other Financial Charges |
0.1 |
0.2 |
0.2 |
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Financial
Charges |
2.3 |
3.4 |
2.7 |
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Other
Extraordinary Income |
- |
0.0 |
- |
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Extraordinary
Income |
- |
0.0 |
- |
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Loss on Disposal
of Fixed Assets |
- |
0.0 |
- |
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Other
Extraordinary Charges |
- |
0.0 |
- |
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Extraordinary
Charges |
- |
0.0 |
- |
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Income Taxes |
0.0 |
0.0 |
0.1 |
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Adjustment of
Income Taxes and Write-Back of Tax Provisions |
0.0 |
0.0 |
- |
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Income Taxes |
0.0 |
0.0 |
0.1 |
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To
the Legal Reserve |
0.0 |
0.0 |
0.0 |
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To
Other Reserves |
0.1 |
0.1 |
0.2 |
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Transfers to
Capital and Reserves |
0.1 |
0.2 |
0.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.739044 |
0.753182 |
0.631094 |
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Consolidated |
No |
No |
No |
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Plant,
Machinery, and Equipment |
1.3 |
1.5 |
2.0 |
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Furniture
and Vehicles |
0.1 |
0.1 |
0.0 |
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Leasing
and Other Similar Rights |
1.2 |
1.3 |
1.7 |
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Tangible
Assets |
2.5 |
2.8 |
3.7 |
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Participating
Interests |
0.1 |
0.1 |
0.1 |
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Affiliated
Enterprises |
0.1 |
0.1 |
0.1 |
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Amounts
Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other
Capital Assets |
0.0 |
0.0 |
0.0 |
|
Capital
Assets |
0.1 |
0.1 |
0.1 |
|
Fixed Assets |
2.6 |
2.9 |
3.8 |
|
Goods
Purchased for Resale |
21.5 |
31.5 |
24.9 |
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Stocks |
21.5 |
31.5 |
24.9 |
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Inventory
and Orders in Progress |
21.5 |
31.5 |
24.9 |
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Trade
Debtors |
34.2 |
35.6 |
66.8 |
|
Other
Amounts Receivable |
2.9 |
2.6 |
3.4 |
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Amounts
Receivable Within One Year |
37.1 |
38.2 |
70.2 |
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Liquid
Assets |
0.2 |
0.2 |
0.8 |
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Adjustment
Accounts |
0.1 |
0.1 |
0.1 |
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Current Assets |
58.8 |
70.0 |
95.9 |
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Total Assets |
61.4 |
72.9 |
99.7 |
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Issued
Capital |
10.6 |
10.6 |
0.8 |
|
Capital |
10.6 |
10.6 |
0.8 |
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Paid-In
Capital |
0.4 |
0.4 |
0.4 |
|
Legal
Reserve |
0.1 |
0.1 |
0.1 |
|
Other |
- |
- |
11.9 |
|
Reserves
Not Available for Distribution |
- |
- |
11.9 |
|
Reserves
Available for Distribution |
1.1 |
1.0 |
1.0 |
|
Reserves |
1.2 |
1.1 |
12.9 |
|
Capital and
Reserves |
12.2 |
12.0 |
14.2 |
|
Subordinated
Loans |
7.0 |
7.0 |
- |
|
Credit
Institutions |
1.7 |
1.8 |
2.3 |
|
Other
Loans |
- |
- |
7.0 |
|
Financial
Debts |
8.7 |
8.8 |
9.3 |
|
Other
Amounts Payable |
17.8 |
18.3 |
21.5 |
|
Amounts
Due After More Than One Year |
26.5 |
27.1 |
30.8 |
|
Current
Portion of Amounts Payable After More Than One Year |
0.2 |
0.2 |
0.2 |
|
Credit
Institutions |
13.5 |
19.4 |
35.0 |
|
Financial
Debts |
13.5 |
19.4 |
35.0 |
|
Suppliers |
7.6 |
12.7 |
18.5 |
|
Trade
Debts |
7.6 |
12.7 |
18.5 |
|
Taxes |
0.0 |
0.0 |
0.0 |
|
Remuneration
and Social Security |
0.1 |
0.2 |
0.2 |
|
Taxes,
Wages, and Social Security |
0.2 |
0.2 |
0.2 |
|
Other
Amounts Payable |
1.3 |
1.3 |
0.9 |
|
Amounts
Payable Within One Year |
22.7 |
33.7 |
54.7 |
|
Adjustment
Accounts |
0.0 |
0.0 |
0.0 |
|
Creditors |
49.1 |
60.9 |
85.6 |
|
Total
Liabilities + Shareholders' Equity |
61.4 |
72.9 |
99.7 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.82.44 |
|
Euro |
1 |
Rs.71.08 |
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 |
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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.