MIRA INFORM REPORT
|
Report Date : |
30.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNIONTRADE S.R.L. |
|
|
|
|
Registered Office : |
Via Enrico Mattei, 1, 20068 -
Peschiera Borromeo (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
16.05.1985 |
|
|
|
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Com. Reg. No.: |
MI146-240234 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Intermediaries on a fee or
contract basis |
|
|
|
|
No. of Employees
: |
50 Persons |
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 : |
150.000 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) |
|
Italy |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Uniontrade S.r.l.
Via Enrico Mattei, 1
20068 - Peschiera Borromeo (MI) -IT-
Summary
|
Fiscal Code |
: |
07645640157 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
16/05/1985 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
35.000.000/50.000.000 Eur |
|
Number of Employees |
: |
from 36 to 50 |
Credit Analysis
|
Credit Opinion |
: |
150.000 - Eur |
Activity
Intermediaries on a fee or
contract basis
Intermediaries involved in the
sale of food, beverages and tobacco
Wholesale of food, beverages and
tobacco
Wholesale of coffee, tea, cocoa
and spices
Retail sale in non-specialised
stores with prevelance of food and be
verages
Legal Data
Legal Form : Limited liability
company
|
Fiscal Code : 07645640157 |
|
Foreign Trade Reg. no. : MI081204 since
31/12/1991 |
|
Chamber of Commerce no. : 1173088 of
Milano since 21/01/1985 |
|
Firms' Register : MI146-240234 since
19/02/1996 |
|
V.A.T. Code : 07645640157 |
|
Establishment date |
: 10/12/1984 |
|
|
Start of Activities |
: 16/05/1985 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 800.000 |
Eur |
|
Subscribed Capital |
: 800.000 |
Eur |
|
Paid up Capital |
: 800.000 |
Eur |
Members
|
|
Zhu |
Jing Yi |
|
|
|
Born in Zhejiang |
on 22/02/1963 |
- Fiscal Code : ZHUJGY63B62Z210Z |
|
|
|
Residence : |
Via |
Caravaggio |
, 2 |
- 20090 |
Segrate |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
06/10/1997 |
|
|
|
Person in charge |
|
|
|
|
|
No Protests
registered |
Companies connected to members *
*checkings have been performed
on a national scale.
In this module are listed the
companies in which members hold or have holded positions.
|
|
ZHU |
JING YI |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
GROUP EIGHT S.R.L. |
Milano (MI) - IT - |
12641280156 |
Sole Director |
Active |
Registered |
|
KATHAY DI ZHU JING YI |
Milano (MI) - IT - |
ZHUJGY63B62Z210Z |
Proprietor |
Active |
Registered |
The indication
"REGISTERED" as Firm Status could refer to Firms in Liquidation,
Active, Inactive, etc.
For more information, in this
case, we advise to request further investigations.
Capital Shareholders
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Zhu Jing Yi |
Segrate - IT - |
ZHUJGY63B62Z210Z |
400.000 .Eur |
50,00 |
|
Sun Tzu Hsi |
Milano - IT - |
SNUTHS57A03Z210Z |
400.000 .Eur |
50,00 |
Direct Participations
The Company under review has
participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
N.s.g. S.r.l. |
Segrate - IT - |
05230030966 |
24.500 .Eur |
24,50 |
|
|
Active |
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 23/03/2005 |
|
|
|
|
|
Via |
Enrico Mattei |
, 1 |
- 20068 |
- Peschiera Borromeo |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/96922898 |
|
|
|
|
Employees |
: 48 |
|
Fittings and Equipment for a value of
400.000 |
Eur |
|
Stocks for a value of 8.060.000 |
Eur |
The firm has a direct commercial
organization
The company sells in Italy and
abroad.
The company supplies wholesalers
and retailers.
|
|
Export represents up to 20% of
the global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
Purchase terms: 60-90-120 days.
Subject mostly pays its
suppliers by issueing of drafts and/or by
by bank transfers.
Import comes generally from the
following nations:
|
- Cina |
|
- Giappone |
|
- Hong Kong |
Historical Information and/or Firm's Status
COMPANY
STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
China Trading Srl |
Uniontrade Srl |
23/03/2005 |
EX-MEMBERS
/ EX-POSITIONS:
|
|
Catelli |
Emilio |
|
|
|
Born in Premosello-Chiovenda |
on 05/06/1926 |
- Fiscal Code : CTLMLE26H05H037N |
|
|
|
Residence : |
Via |
Plana |
, 20 |
- 20155 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Stella |
Alberto |
|
|
|
Born in Milano |
on 12/06/1960 |
- Fiscal Code : STLLRT60H12F205E |
|
|
|
Residence : |
Via |
Martinelli |
, 67 |
- 20142 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
|
|
Permanent Auditor |
|
|
Pistone |
Rocco Luigi |
|
|
|
Born in Grottole |
on 19/02/1930 |
- Fiscal Code : PSTRCL30B19E213K |
|
Ex-Postions |
|
|
|
|
Albanese |
Lucia |
|
|
|
Born in Milano |
on 14/08/1954 |
- Fiscal Code : LBNLCU54M54F205D |
|
|
|
Residence : |
Via |
Caneva |
, 3 |
- 20154 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
|
|
Temporary Auditor |
|
|
Sun |
Tzi Hsi |
|
|
|
Born in Cina |
on 03/01/1957 |
- Fiscal Code : SNUTHS57A03Z210Z |
|
|
|
Residence : |
Piazza |
Oberdan Guglielmo |
, 4 |
- 20129 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Brenna |
Lorella |
|
|
|
Born in Dumenza |
on 27/01/1960 |
- Fiscal Code : BRNLLL60A67D384Z |
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|
|
Residence : |
Via |
G. Martinelli |
, 67 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
|
|
|
Gandini |
Idalgo |
|
|
|
Born in Milano |
on 27/09/1938 |
- Fiscal Code : GNDDLG38P27F205E |
|
|
|
Residence : |
Via |
San Rocco |
, 5 |
- 20090 |
Segrate |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Mazzi |
Giuseppe |
|
|
|
Born in Milano |
on 27/06/1935 |
- Fiscal Code : MZZGPP35H27F205F |
|
|
|
Residence : |
Via |
Del Duca Cino |
, 5 |
- 20122 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
Protests
Protests checking on the subject
firm has given a negative result.
Legal Procedures
None reported, standing to the
latest received edition of the Official Publications.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA NAZIONALE DEL LAVORO SPA |
Agenzia n. 13 |
|
20100 |
Milano (MI) |
1005 |
0 |
|
UNICREDIT BANCA D'IMPRESA S.P.A. |
MILANO CORDUSIO |
VIA TOMMASO GROSSI, 10 |
20100 |
Milano (MI) |
3226 |
1604 |
Financial and Economical Analysis
The company is active since 1985
The economic-financial analysis
is based on the b/s of the year 2010.
It suffered a loss in 2010.
The operating result was
positive (1,94%). and in line with the sector's average.
The operating result generated
by the management is of Eur. 363.093.
It is equal to Eur. 583.378 the
value of G.O.M.
The financial status of the
company is fairly balanced with an indebtedness level of 3,11
Subject's shareholder funds
amounted to Eur. 4.360.912.
For the financial management,
subject recorded debts for an amount of Eur. 13.992.408.
The exposure towards banks is
slightly high, the recourse to suppliers' credit is limited below the sector's
average.
Payments are supported by good
current assets.
Accounts receivable average term
is 57,14 days. , that compared to the sector's average is shorter.
The financial management
generated a negative cash flow (Eur. -97.516).
Labour cost expenses amount to
Eur. 1.457.480 , representing 3,86% on the total of production costs. , whereas
3,83% is the incidence on sales revenues.
If compared to the sales volume
(-0,82%), the impact of the financial charges is limited.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
38.005.463 |
|
Profit (Loss) for the period |
-317.801 |
Balance Sheets
From our constant monitoring of
the relevant Public Administration offices, no more recent balance sheets
result to have been filed.
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: Eur - Amounts x 1 |
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|
RATIOS |
Value
Type |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
Rigidity Ratio |
Units |
0,18 |
0,13 |
|
Elasticity Ratio |
Units |
0,78 |
0,85 |
|
Availability of stock |
Units |
0,43 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,35 |
0,62 |
|
Quick Ratio |
Units |
0,02 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
Net Short-term indebtedness |
Units |
3,11 |
5,02 |
|
Self Financing Ratio |
Units |
0,23 |
0,13 |
|
Capital protection Ratio |
Units |
0,88 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,02 |
0,10 |
|
Financing |
Units |
3,21 |
6,17 |
|
Permanent Indebtedness Ratio |
Units |
0,25 |
0,25 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,49 |
1,16 |
|
CORRELATION |
|
|
|
|
Fixed assets ratio |
Units |
1,43 |
1,57 |
|
Current ratio |
Units |
1,05 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,47 |
0,85 |
|
Structure's primary quotient |
Units |
1,33 |
0,96 |
|
Treasury's primary quotient |
Units |
0,03 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
428,80 |
743,68 |
|
Current Capital ( net ) |
Value |
675.887 |
70.465 |
|
RETURN |
|
|
|
|
Return on Sales (R.O.S.) |
% |
- 0,26 |
1,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
- 7,29 |
6,68 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
- 5,26 |
19,39 |
|
Return on Investment ( R.O.I. ) |
% |
1,94 |
3,84 |
|
Return/ Sales |
% |
0,96 |
2,16 |
|
Extra Management revenues/charges incid. |
% |
- 87,53 |
28,56 |
|
Cash Flow |
Value |
-97.516 |
48.046 |
|
Operating Profit |
Value |
363.093 |
59.910 |
|
Gross Operating Margin |
Value |
583.378 |
99.701 |
|
MANAGEMENT |
|
|
|
|
Credits to clients average term |
Days |
57,14 |
86,56 |
|
Debts to suppliers average term |
Days |
25,24 |
100,32 |
|
Average stock waiting period |
Days |
76,37 |
31,97 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,03 |
1,82 |
|
Rate of stock return |
Units |
4,71 |
11,18 |
|
Labour cost incidence |
% |
3,83 |
5,95 |
|
Net financial revenues/charges incidence |
% |
- 0,82 |
- 0,81 |
|
Labour cost on purchasing expenses |
% |
3,86 |
5,95 |
|
Short-term financing charges |
% |
2,24 |
2,18 |
|
Capital on hand |
% |
49,20 |
54,67 |
|
Sales pro employee |
Value |
717.084 |
507.073 |
|
Labour cost pro employee |
Value |
27.499 |
32.650 |
Credit Opinion
On the basis of the above
mentioned, and the sales volume obtained, we deem that the maximum exposure for
short and medium term transactions ( 90 - 120 days ) could be of:
150.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses average
in the region (in Eur.) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a
base of 5.101 significant companies.
The companies cash their credits
on an average of 86 dd.
The average duration of
suppliers debts is about 100 dd.
The sector's profitability is on
an average of 1,66%.
The labour cost affects the
turnover in the measure of 5,95%.
Goods are held in stock in a
range of 31 dd.
The difference between the sales
volume and the resources used to realize it is about 1,82.
The employees costs represent
the 5,95% of the production costs.
Statistical Detrimental Data
The area is statistically
considered lowly risky.
In the region 50.886 protested
subjects are found; in the province they count to 24.765.
The insolvency index for the
region is 0,55, , while for the province it is 0,66.
Total Bankrupt companies in the
province : 22.523.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.93 |
|
UK Pound |
1 |
Rs.80.62 |
|
Euro |
1 |
Rs.69.37 |
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.