MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUSHANG EXPORTS |
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Registered Office : |
Hoveniersstraat 2 B.542, Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1985 |
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Com. Reg. No.: |
426932236 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Wholesale of other intermediate products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
Sushang Exports
Hoveniersstraat 2 B.542
Antwerpen, 2018
Belgium
Tel: 03 231 04 04
Fax: 03 225 22 34
Synthesis
Employees: 2
Company Type: Private Subsidiary
Corporate Family: 18
Companies
Ultimate Parent: Meeroe
Incorporation Date: 1985
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 26.8
1
Total Assets: 16.4
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 |
|
Mehul Anandlal Kothari |
Managing Director |
|
Paras Jayantilal Shah |
Partner |
|
Shila Mehul Kothari |
Administrator |
|
Lieven Paul Jozef Van Brussel |
Representative/Auditor |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
Hoveniersstraat 2 B.542
Antwerpen, 2018
Belgium
Tel: 03 231 04 04
Fax: 03 225 22 34
Sales EUR(mil): 19.2
Assets EUR(mil): 11.4
Employees: 2
Fiscal Year End: 31-Dec-2009
Industry: Retail
(Department and Discount)
Incorporation Date: 1985
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(VAT): 426932236
Managing Director: Mehul
Anandlal Kothari
Contents
· Industry Codes
· Business Description
· Financial Data
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere Classified
373 - Furniture, Floor Covering and Other Goods Wholesaling
NACE 2002 Codes:
5156 - Wholesale of other intermediate products
5147 - Wholesale of other household goods
NAICS 2002 Codes:
4239 - Miscellaneous Durable Goods Merchant Wholesalers
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
US SIC 1987:
5099 - Durable Goods, Not Elsewhere Classified
509 - Miscellaneous Durable Goods
UK SIC 2003:
51479 - Wholesale of other household goods not elsewhere classified
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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Total Corporate Family Members: 18 |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Erpe |
Belgium |
Miscellaneous Financial Services |
2.9 |
13 |
|
|
Subsidiary |
Erpe |
Belgium |
Appliance and Tool |
51.9 |
66 |
|
|
Subsidiary |
Temse |
Belgium |
Construction - Raw Materials |
13.0 |
16 |
|
|
Subsidiary |
Antwerpen |
Belgium |
Retail (Department and Discount) |
26.8 |
2 |
|
|
Subsidiary |
Leval-Trahegnies |
Belgium |
Retail (Specialty) |
0.0 |
|
|
|
Subsidiary |
Wavre |
Belgium |
Iron and Steel |
21.1 |
49 |
|
|
Subsidiary |
Wavre |
Belgium |
Construction Services |
10.7 |
58 |
|
|
Subsidiary |
Saint-Ghislain |
Belgium |
Appliance and Tool |
15.5 |
32 |
|
|
Subsidiary |
Halle |
Belgium |
Construction - Raw Materials |
16.8 |
29 |
|
|
Subsidiary |
Dendermonde |
Belgium |
Construction Services |
15.4 |
29 |
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|
Subsidiary |
Kuurne |
Belgium |
Appliance and Tool |
21.0 |
28 |
|
|
Subsidiary |
Vichte |
Belgium |
Appliance and Tool |
17.5 |
23 |
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|
Subsidiary |
Brugge |
Belgium |
Appliance and Tool |
10.7 |
23 |
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|
Subsidiary |
Bouwel |
Belgium |
Construction Services |
0.0 |
17 |
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|
Subsidiary |
Merksem |
Belgium |
Appliance and Tool |
7.2 |
12 |
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|
Subsidiary |
Gent |
Belgium |
Construction - Raw Materials |
4.5 |
9 |
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|
Subsidiary |
Schilde |
Belgium |
Construction Services |
0.0 |
6 |
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Subsidiary |
Bruxelles |
Belgium |
Retail (Specialty) |
0.6 |
3 |
Executive report
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Executives |
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Managing Director |
Managing Director |
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Administrator |
Administration Executive |
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Representative/Auditor |
Accounting Executive |
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Partner |
Partner |
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Annual Profit & Loss
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|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Turnover |
26.8 |
44.9 |
35.8 |
|
Other Operating
Income |
0.0 |
0.0 |
0.0 |
|
Operating Income |
26.8 |
45.0 |
35.8 |
|
Purchases |
25.8 |
47.8 |
30.0 |
|
Increase
or Decrease in Stocks |
0.3 |
-3.4 |
4.4 |
|
Raw Materials,
Consumables, and Goods for Release |
26.1 |
44.4 |
34.3 |
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Services and
Sundry Goods |
0.3 |
0.3 |
0.3 |
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Remuneration,
Social Security Charges, and Pensions |
0.1 |
0.1 |
0.1 |
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Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
0.0 |
0.0 |
0.0 |
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Increase or
Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors |
0.0 |
- |
- |
|
Other Operating Charges |
0.0 |
0.0 |
0.0 |
|
Operating
Charges |
26.5 |
44.9 |
34.7 |
|
Income From
Financial Fixed Assets |
0.0 |
- |
- |
|
Income From
Current Assets |
- |
0.0 |
0.0 |
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Other Financial
Income |
1.2 |
0.7 |
- |
|
Financial Income |
1.2 |
0.7 |
0.0 |
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Interest and Other
Debt Charges |
0.2 |
0.6 |
0.5 |
|
Other Financial
Charges |
1.2 |
0.0 |
0.5 |
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Financial
Charges |
1.4 |
0.6 |
1.0 |
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Income Taxes |
0.0 |
0.0 |
0.0 |
|
Adjustment of
Income Taxes and Write-Back of Tax Provisions |
0.0 |
- |
0.0 |
|
Income Taxes |
0.0 |
0.0 |
0.0 |
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To
the Legal Reserve |
0.1 |
0.1 |
- |
|
To
Other Reserves |
- |
- |
0.1 |
|
Transfers to
Capital and Reserves |
0.1 |
0.1 |
0.1 |
|
Employees |
2 |
2 |
2 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
Land
& Buildings |
0.1 |
0.1 |
0.1 |
|
Plant,
Machinery, and Equipment |
0.0 |
0.0 |
0.0 |
|
Furniture
and Vehicles |
0.0 |
0.0 |
0.0 |
|
Tangible
Assets |
0.1 |
0.1 |
0.2 |
|
Shares |
0.0 |
0.0 |
0.0 |
|
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 |
0.1 |
0.1 |
0.2 |
|
Other
Amounts Receivable |
0.4 |
0.3 |
0.4 |
|
Amounts
Receivable After More Than One Year |
0.4 |
0.3 |
0.4 |
|
Goods
Purchased for Resale |
7.9 |
7.9 |
5.0 |
|
Stocks |
7.9 |
7.9 |
5.0 |
|
Inventory
and Orders in Progress |
7.9 |
7.9 |
5.0 |
|
Trade
Debtors |
7.6 |
6.0 |
10.3 |
|
Other
Amounts Receivable |
0.3 |
0.2 |
0.2 |
|
Amounts
Receivable Within One Year |
8.0 |
6.3 |
10.5 |
|
Liquid
Assets |
0.0 |
0.3 |
0.2 |
|
Adjustment
Accounts |
0.0 |
0.0 |
- |
|
Current Assets |
16.3 |
14.8 |
16.1 |
|
Total Assets |
16.4 |
14.9 |
16.3 |
|
Issued
Capital |
5.5 |
5.3 |
0.7 |
|
Capital |
5.5 |
5.3 |
0.7 |
|
Legal
Reserve |
0.3 |
0.2 |
0.1 |
|
Untaxed
Reserves |
0.0 |
0.0 |
4.4 |
|
Reserves
Available for Distribution |
0.0 |
0.0 |
0.5 |
|
Reserves |
0.3 |
0.2 |
5.0 |
|
Capital and
Reserves |
5.8 |
5.5 |
5.7 |
|
Credit
Institutions |
- |
- |
0.0 |
|
Financial
Debts |
- |
- |
0.0 |
|
Amounts
Due After More Than One Year |
- |
- |
0.0 |
|
Current
Portion of Amounts Payable After More Than One Year |
- |
- |
0.0 |
|
Credit
Institutions |
5.0 |
6.4 |
7.5 |
|
Financial
Debts |
5.0 |
6.4 |
7.5 |
|
Suppliers |
5.6 |
3.0 |
3.0 |
|
Trade
Debts |
5.6 |
3.0 |
3.0 |
|
Taxes |
- |
0.0 |
0.0 |
|
Remuneration
and Social Security |
0.0 |
0.0 |
0.0 |
|
Taxes,
Wages, and Social Security |
0.0 |
0.0 |
0.0 |
|
Other
Amounts Payable |
- |
- |
0.0 |
|
Amounts
Payable Within One Year |
10.6 |
9.4 |
10.5 |
|
Adjustment
Accounts |
0.0 |
0.0 |
0.1 |
|
Creditors |
10.6 |
9.4 |
10.6 |
|
Total
Liabilities + Shareholders' Equity |
16.4 |
14.9 |
16.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.84 |
|
UK Pound |
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
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.