%20-%20156479%202%2007-Oct-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
BHP BILLITON DIAMONDS (BELGIUM) |
|
|
|
|
Registered Office : |
Hoveniersstraat 30 B.263, Antwerpen, 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
30.06.2010 |
|
|
|
|
Year of Establishment : |
1998 |
|
|
|
|
Com. Reg. No.: |
463100863 |
|
|
|
|
Legal Form : |
Private Subsidiary Company |
|
|
|
|
Line of Business : |
Subject is engaged in the business
of Luxury and Leisure Products, Uncut diamonds |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Belgium |
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
Bhp Billiton Diamonds (Belgium)
Hoveniersstraat 30 B.263
Antwerpen, 2018
Belgium
Tel: 03 201 10 90
Fax: 03 213 08 46
Synthesis
Employees: 30
Company Type: Private Subsidiary
Corporate Family: 88
Companies
Ultimate Parent: BHP
Billiton Limited
Incorporation Date: 1998
Financials in: USD
(Millions)
Fiscal Year End: 30-Jun-2010
Reporting Currency: Euro
Annual Sales: 22.4
1
Total Assets: 9.8
Business Description
Subject is engaged in the business of Luxury and Leisure
Products, Uncut diamonds
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 |
|
James Richard Rothwell |
Partner |
|
Monique Bijnen |
Administrator |
|
Vincent Nicoletti |
Administrator |
|
Patrick Jozef Ludovic De Schutter |
Representative/Auditor |
|
Hendrik Harry Van Donink |
Representative/Auditor |
Registered No.(VAT): 463100863
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7214831
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.8163932
Corporate Overview
Location
Hoveniersstraat 30 B.263
Antwerpen, 2018
Belgium
Tel: 03 201 10 90
Fax: 03 213 08 46
Sales EUR(mil): 16.1
Assets EUR(mil): 8.0
Employees: 30
Fiscal Year End: 30-Jun-2010
Industry: Retail
(Department and Discount)
Incorporation Date: 1998
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(VAT): 463100863
Managing Director: Christopher
Ryder
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
Subject is engaged in the business of Luxury and Leisure
Products, Uncut diamonds
|
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%20-%20156479%202%2007-Oct-2011_files/image003.gif){kind=small}
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Corporate
Family |
Corporate
Structure News: |
|
|
|
|
Total Corporate Family Members: 88 |
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Melbourne, VIC |
Australia |
Metal Mining |
71,739.0 |
40,757 |
|
|
|
Acquisition of
HWE Mining proposed/announced.See corporate
structure news on BHP
Billiton Limited for details |
|||||||
|
Subsidiary |
Houston, TX |
United States |
Oil Well Services and Equipment |
|
38,000 |
|
|
|
Branch |
Waterflow, NM |
United States |
Non-Metallic Mining |
268.0 |
1,000 |
|
|
|
Branch |
Farmington, NM |
United States |
Non-Metallic Mining |
14.7 |
55 |
|
|
|
Subsidiary |
Johannesburg |
South Africa |
Metal Mining |
1,000.0 |
5,000 |
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Metal Mining |
7,191.5 |
3,390 |
|
|
|
Subsidiary |
Perth, WA |
Australia |
Metal Mining |
251.0 |
2,623 |
|
|
|
Subsidiary |
Melbourne , VIC |
Australia |
Metal Mining |
5,756.6 |
2,270 |
|
|
|
Subsidiary |
Unanderra, NSW |
Australia |
Coal |
250.3 |
1,300 |
|
|
|
Joint Venture |
Collie, WA |
Australia |
Miscellaneous Fabricated Products |
29.3 |
1,200 |
|
|
|
Subsidiary |
Montelibano, Cordoba |
Colombia |
Metal Mining |
0.4 |
1,140 |
|
|
|
Subsidiary |
Yabulu, QLD |
Australia |
Metal Mining |
250.3 |
1,000 |
|
|
|
Subsidiary |
Rio de Janeiro, RJ |
Brazil |
Metal Mining |
707.1 |
848 |
|
|
|
Subsidiary |
Port Kembla, NSW |
Australia |
Construction Services |
|
840 |
|
|
|
Subsidiary |
Perth, WA |
Australia |
Oil and Gas Operations |
6,133.1 |
600 |
|
|
|
Subsidiary |
Houston, TX |
United States |
Oil and Gas Operations |
175.0 |
600 |
|
|
|
Subsidiary |
Perth, WA |
Australia |
Oil and Gas Operations |
|
1,150 |
|
|
|
Subsidiary |
Tucson, AZ |
United States |
Metal Mining |
30.2 |
100 |
|
|
|
Branch |
Miami, AZ |
United States |
Non-Metallic Mining |
80.4 |
300 |
|
|
|
Subsidiary |
Cameron, LA |
United States |
Oil and Gas Operations |
|
3 |
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Oil and Gas Operations |
|
|
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Oil and Gas Operations |
|
|
|
|
|
Subsidiary |
Houston, TX |
United States |
Oil and Gas Operations |
7,597.9 |
598 |
|
|
|
Recently
acquired (previously owned by Petrohawk Energy Corporation).See corporate
structure news on
BHP Billiton Limited for details |
|||||||
|
Subsidiary |
Houston, TX |
United States |
Natural Gas Utilities |
|
152 |
|
|
|
Branch |
Tulsa, OK |
United States |
Oil Well Services and Equipment |
9.3 |
60 |
|
|
|
Subsidiary |
Houston, TX |
United States |
Oil and Gas Operations |
|
2 |
|
|
|
Subsidiary |
Wilmington, DE |
United States |
Oil and Gas Operations |
|
|
|
|
|
Subsidiary |
Tasmania, TAS |
Australia |
Iron and Steel |
1.0 |
382 |
|
|
|
Subsidiary |
George Town , TAS |
Australia |
Iron and Steel |
29.2 |
285 |
|
|
|
Subsidiary |
Alyangula, NT |
Australia |
Metal Mining |
175.0 |
250 |
|
|
|
Subsidiary |
Alyangula, NT |
Australia |
Metal Mining |
29.2 |
250 |
|
|
|
Subsidiary |
Belo Horizonte, MG |
Brazil |
Metal Mining |
1,419.4 |
200 |
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Metal Mining |
104.0 |
100 |
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Metal Mining |
|
95 |
|
|
|
Subsidiary |
Adelaide, SA |
Australia |
Railroads |
|
47 |
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Railroads |
|
40 |
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Retail (Department and Discount) |
22.4 |
30 |
|
|
|
Subsidiary |
New Delhi, New Delhi |
India |
Oil and Gas Operations |
|
30 |
|
|
|
Subsidiary |
Vancouver, BC |
Canada |
Non-Metallic Mining |
|
30 |
|
|
|
Branch |
Kelowna, BC |
Canada |
Metal Mining |
3.5 |
7 |
|
|
|
Subsidiary |
East Perth, WA |
Australia |
Metal Mining |
3.3 |
22 |
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Coal |
|
10 |
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Coal |
|
5 |
|
|
|
Branch |
Yellowknife, NT |
Canada |
Non-Metallic Mining |
1.0 |
3 |
|
|
|
Subsidiary |
Perth, WA |
Australia |
Metal Mining |
|
3 |
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Engineering Consultants |
|
1 |
|
|
|
Subsidiary |
Jakarta, Jakarta |
Indonesia |
Coal |
|
|
|
|
|
Subsidiary |
's-Gravenhage, Zuid-Holland |
Netherlands |
Consumer Financial Services |
|
1 |
|
|
|
Subsidiary |
's-Gravenhage, Zuid-Holland |
Netherlands |
Miscellaneous Financial Services |
|
|
|
|
|
Subsidiary |
Auckland |
New Zealand |
Iron and Steel |
350.0 |
|
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Port Kembla, NSW |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Business Services |
|
|
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Miscellaneous Financial Services |
|
|
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Hanoi, Hanoi |
Viet Nam |
Oil and Gas Operations |
|
|
|
|
|
Subsidiary |
Invaders Bay, Off Audrey Jeffers Highway, Port of Spain |
Trinidad and Tobago |
Oil and Gas Operations |
|
|
|
|
|
Subsidiary |
Sydney South, NSW |
Australia |
Investment Services |
|
|
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Consumer Financial Services |
|
|
|
|
|
Subsidiary |
Allanson, WA |
Australia |
Miscellaneous Fabricated Products |
|
|
|
|
|
Subsidiary |
Collie, WA |
Australia |
Miscellaneous Fabricated Products |
|
|
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Wollongong, NSW |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Sydney, NSW |
Australia |
Construction - Supplies and Fixtures |
|
|
|
|
|
Subsidiary |
Collie, WA |
Australia |
Miscellaneous Fabricated Products |
|
|
|
|
|
Subsidiary |
Perth, WA |
Australia |
Metal Mining |
|
|
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Metal Mining |
|
|
|
|
|
Subsidiary |
Johannesburg |
South Africa |
Business Services |
|
|
|
|
|
Subsidiary |
Johannesburg |
South Africa |
Coal |
|
|
|
|
|
Subsidiary |
Port Kembla, NSW |
Australia |
Coal |
|
|
|
|
|
Subsidiary |
Kwazulu-Natal |
South Africa |
Miscellaneous Fabricated Products |
|
|
|
|
|
Subsidiary |
Yabulu, QLD |
Australia |
Miscellaneous Financial Services |
|
|
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Metal Mining |
|
|
|
|
|
Subsidiary |
Perth, WA |
Australia |
Metal Mining |
|
|
|
|
|
Subsidiary |
Brisbane, QLD |
Australia |
Miscellaneous Financial Services |
|
|
|
|
|
Subsidiary |
Townsville, QLD |
Australia |
Metal Mining |
|
|
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Metal Mining |
|
|
|
|
Executive report
|
Executives |
|
|
|
|
|||
|
Managing Director |
Managing Director |
|
|||
|
Administrator |
Administration Executive |
|
|||
|
Administrator |
Administration Executive |
|
|||
|
Representative/Auditor |
Accounting Executive |
|
|||
|
Representative/Auditor |
Accounting Executive |
|
|||
|
Partner |
Partner |
|
Annual Profit & Loss
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.721483 |
0.731067 |
0.681859 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Turnover |
22.4 |
22.2 |
27.2 |
|
Other Operating
Income |
0.2 |
0.2 |
0.2 |
|
Operating Income |
22.6 |
22.5 |
27.4 |
|
Services and
Sundry Goods |
10.2 |
12.4 |
13.6 |
|
Remuneration,
Social Security Charges, and Pensions |
9.7 |
9.7 |
9.9 |
|
Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
0.9 |
1.7 |
2.0 |
|
Other Operating
Charges |
0.1 |
0.1 |
0.2 |
|
Operating
Charges |
20.8 |
23.8 |
25.7 |
|
Income From
Current Assets |
0.0 |
0.0 |
0.0 |
|
Other Financial
Income |
0.7 |
0.9 |
3.6 |
|
Financial Income |
0.7 |
0.9 |
3.6 |
|
Interest and Other
Debt Charges |
- |
0.0 |
0.0 |
|
Other Financial
Charges |
0.9 |
0.4 |
3.3 |
|
Financial
Charges |
0.9 |
0.5 |
3.3 |
|
Other Extraordinary
Charges |
- |
0.0 |
- |
|
Extraordinary
Charges |
- |
0.0 |
- |
|
Income Taxes |
0.0 |
0.0 |
0.0 |
|
Adjustment of
Income Taxes and Write-Back of Tax Provisions |
- |
0.0 |
- |
|
Income Taxes |
0.0 |
0.0 |
0.0 |
|
Employees |
30 |
31 |
37 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.816393 |
0.712936 |
0.634699 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Intangible
Assets |
0.0 |
0.6 |
2.1 |
|
Land
& Buildings |
1.1 |
1.4 |
1.7 |
|
Plant,
Machinery, and Equipment |
0.5 |
0.3 |
0.3 |
|
Furniture
and Vehicles |
0.1 |
0.1 |
0.2 |
|
Tangible
Assets |
1.7 |
1.8 |
2.3 |
|
Amounts
Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
|
Other
Capital Assets |
0.0 |
0.0 |
0.0 |
|
Capital
Assets |
0.0 |
0.0 |
0.0 |
|
Fixed Assets |
1.7 |
2.3 |
4.4 |
|
Trade
Debtors |
2.1 |
17.9 |
14.5 |
|
Other
Amounts Receivable |
0.1 |
3.8 |
3.8 |
|
Amounts
Receivable Within One Year |
2.2 |
21.7 |
18.3 |
|
Other
Investments and Deposits |
0.0 |
0.0 |
0.1 |
|
Investments |
0.0 |
0.0 |
0.1 |
|
Liquid
Assets |
5.8 |
1.9 |
4.4 |
|
Adjustment
Accounts |
0.0 |
0.1 |
0.0 |
|
Current Assets |
8.1 |
23.7 |
22.8 |
|
Total Assets |
9.8 |
26.0 |
27.2 |
|
Issued
Capital |
8.7 |
10.0 |
11.2 |
|
Capital |
8.7 |
10.0 |
11.2 |
|
Legal
Reserve |
0.0 |
0.0 |
0.0 |
|
Reserves
Available for Distribution |
0.2 |
0.3 |
0.3 |
|
Reserves |
0.2 |
0.3 |
0.3 |
|
Capital and
Reserves |
3.7 |
2.6 |
3.9 |
|
Suppliers |
1.6 |
17.6 |
16.8 |
|
Trade
Debts |
1.6 |
17.6 |
16.8 |
|
Remuneration
and Social Security |
3.8 |
1.9 |
2.8 |
|
Taxes,
Wages, and Social Security |
3.8 |
1.9 |
2.8 |
|
Other
Amounts Payable |
0.0 |
2.9 |
3.3 |
|
Amounts
Payable Within One Year |
5.5 |
22.5 |
22.9 |
|
Adjustment
Accounts |
0.6 |
1.0 |
0.4 |
|
Creditors |
6.1 |
23.4 |
23.2 |
|
Total
Liabilities + Shareholders' Equity |
9.8 |
26.0 |
27.2 |
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
The diamond jewellery industry in India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
DIAMOND SAGA –
DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name of their diamond
business has been diverted in real estate and the share market. The banks are
not in a position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.19 |
|
UK Pound |
1 |
Rs.75.92 |
|
Euro |
1 |
Rs.65.44 |
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 |
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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.