MIRA INFORM REPORT

Report Date :

07.08.2012

IDENTIFICATION DETAILS

Correct Name :	B.V. CHEMISCHE FABRIEK TRIADE
Registered Office :	Dijkweg 159, Honselersdijk, 2675 AD
Country :	Netherlands
Financials (as on) :	31.12.2010
Date of Incorporation :	01.01.1978
Com. Reg. No.:	27218293
Legal Form :	Private Subsidiary
Line of Business :	Manufacturing Paint and Coatings
No. of Employees :	01

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 :	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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Netherlands	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

B.V. Chemische Fabriek Triade

Dijkweg 159

Honselersdijk, 2675 AD

Netherlands  

Tel: +31 0174-272222

Fax: +31 0174-272270

Employees: NA

Company Type: Private Subsidiary

Corporate Family: 3 Companies

Ultimate Parent: Syncolor Beheer B.V.

Incorporation Date: 01-Jan-1978

Financials in: USD (Millions)

Fiscal Year End: 31-Dec-2010

Reporting Currency: Euro

Annual Sales: NA

Total Assets: 13.1

Business Description

B.V. Chemische Fabriek Triade is primarily engaged in manufacture of paints, varnishes and similar coatings; manufacture of printing ink; and manufacture of mastics and sealants.

Industry

Industry	Chemical Manufacturing
ANZSIC 2006:	1813 - Basic Inorganic Chemical Manufacturing
NACE 2002:	2413 - Manufacture of other inorganic basic chemicals
NAICS 2002:	32518 - Other Basic Inorganic Chemical Manufacturing
UK SIC 2003:	2413 - Manufacture of other inorganic basic chemicals
US SIC 1987:	2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products

Key Executives

Name	Title
Johannes Van Der Ligt	Managing director
Jacob Van Roon	Member of the board
Rudolf Zeegers	Member of the board

Registered No.(NLD): 27218293

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

Corporate Overview

Location
Dijkweg 159
Honselersdijk, 2675 AD
Netherlands

Tel:+31 0174-272222

Fax:+31 0174-272270

Sales EUR(mil): NA

Assets EUR(mil): 9.8

Employees: NA

Fiscal Year End: 31-Dec-2010

Industry: Chemical Manufacturing

Incorporation Date: 01-Jan-1978

Company Type: Private Subsidiary

Quoted Status: Not Quoted

Registered No.(NLD): 27218293

Managing director: Johannes Van Der Ligt

Industry Codes

ANZSIC 2006 Codes:
1916	-	Paint and Coatings Manufacturing
1813	-	Basic Inorganic Chemical Manufacturing
3323	-	Industrial and Agricultural Chemical Product Wholesaling

NACE 2002 Codes:
2413	-	Manufacture of other inorganic basic chemicals
5155	-	Wholesale of chemical products
2430	-	Manufacture of paints, varnishes and similar coatings, printing ink and mastics

NAICS 2002 Codes:
3255	-	Paint, Coating, and Adhesive Manufacturing
32518	-	Other Basic Inorganic Chemical Manufacturing
4246	-	Chemical and Allied Products Merchant Wholesalers

US SIC 1987:
2851	-	Paints, Varnishes, Lacquers, Enamels, and Allied Products
516	-	Chemicals and Allied Products

UK SIC 2003:
5155	-	Wholesale of chemical products
2413	-	Manufacture of other inorganic basic chemicals
2430	-	Manufacture of paints, varnishes and similar coatings, printing ink and mastics

Business Description

B.V. Chemische Fabriek Triade is primarily engaged in manufacture of paints, varnishes and similar coatings; manufacture of printing ink; and manufacture of mastics and sealants.

Financial Data

Financials in:	EUR(mil)	1 Year Growth
Assets:	9.8	NA
Current Assets:	9.6
Total Liabilities:	9.8
Net Worth:	4.2
Date of Financial Data:	31-Dec-2010

Key Corporate Relationships

Bank:

ABN AMRO Bank NV

Corporate Structure News

Total Corporate Family Members: 3

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Syncolor Beheer B.V.	Parent
Helion Chemie B.V.	Subsidiary	Honselersdijk, Zuid-Holland	Netherlands	Chemical Manufacturing
B.V. Chemische Fabriek Triade	Subsidiary	Honselersdijk, Zuid-Holland	Netherlands	Chemical Manufacturing

Board of Directors

Name	Title	Function
Jacob Van Roon	Member of the board	Director/Board Member
Rudolf Zeegers	Member of the board	Director/Board Member

Executives

Name	Title	Function
Johannes Van Der Ligt	Managing director	Managing Director

Annual Financial Reports

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.745406	0.696986	0.719399
Consolidated	No	No	No
Other reserves	5.6	5.3	5.4
Total stockholders equity	5.6	5.3	5.4
Provisions and allowances	-	-	0.1
Total current liabilities	7.5	6.1	5.6
Total liabilities (including net worth)	13.1	11.4	11.1
Total asset investment	0.2	0.2	0.1
Total non-current assets	0.2	0.2	0.1
Net stocks and work in progress	5.6	3.8	4.6
Total receivables	7.0	5.8	5.5
Cash and liquid assets	0.3	1.6	0.9
Total current assets	12.9	11.3	11.0
Total assets	13.1	11.4	11.1

Annual Ratios

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.745406	0.696986	0.719399
Consolidated	No	No	No
Current ratio	1.70	1.80	2.00
Acid test ratio	1.00	1.20	1.10
Current liabilities to net worth	1.35%	1.15%	1.04%
Fixed assets to net worth	0.04%	0.03%	0.02%
Net worth	5.6	5.3	5.4
Number of employees	1	1	-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.47
UK Pound	1	Rs.86.60
Euro	1	Rs.68.66

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.