MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

ROMCAN SRL

 

 

Registered Office :

Beclean 223, 535600 Odorheiu Secuiesc, Jud Harghita

 

 

Country :

Romania

 

 

Financials (as on) :

2008

 

 

Date of Incorporation :

28.01.1991

 

 

Com. Reg. No.:

No. J19/18/1991

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of other general-purpose machinery

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Ceased Activities

Payment Behaviour :

---

Litigation :

---

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 COMPANY REPORTED

 

 

 

 

ROMCAN SRL


Company status at The Romanian Trade Register: Erased from the National Trade Registry due to merger by absorption

Principal Address:
Beclean 223
535600 Odorheiu Secuiesc, Jud Harghita
Romania
Telephone: +40-266-216234;216581, +40-366-301211, +40-720-112045, +40-722-459196, +40-723-801901;801902
Fax: +40-366-301212
Email: romcan@romcan.ro
Web: www.romcan.ro

 

 

Former company addresses
Former Principal Address:
Orban Balazs 108
535600 Odorheiu Secuiesc,Jud Harghita
Romania
Telephone: +40-266-216234
Fax: +40-266-171980

 

 

ICON number: 36268550
National ID: J19/18/1991
Statistic number: 191417456
VAT number: 3129620

 

 

Registration status: 28.05.2009 - company has been deleted
Activity status: 28.05.2009 - company has ceased activities

 

 

Date of Last Research:

15.08.2012

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

 

 

 

 

Payment Practices:

No payment experience of any importance is available.
The subject company is erased from the Romanian Trade Register; therefore there are no debts to the State Budget.

 

 

Further Rating Information:

Researched company is categorized as a medium sized company.
Turnover volume of RON 10.562.349 in the year 2008 increased by 93,08% compared with 2007. In the previous period this change was -15,05%.
Fixed assets decreased by RON 144.168 and now 77,20% of total assets.
Working capital of RON 763.396 increased for 615,57% compared with the last period.

 

 

Debt Collection:

There is no record of any debt collection action by Coface Romania Credit Management Services SRL against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS

 

 

 

 

 

 

 

Established:

1991

 

 

Registration:

No. J19/18/1991
28.01.1991
Harghita, Romania

 

 

Legal Form:

Limited Liability Company

 

 

History:

On 28.05.2009 the company was erased from the Trade Register due to merger by absorption with anoter company.

 

 

Capital:

Nominal capital:

 

RON 1.425.300,00

Number of Ordinary shares:

14.253

 

Value per share of Ordinary shares:

RON 100,00

 

 

Paid-up capital:

 

RON 1.425.300,00

 

Paid other than in cash:

RON 189.849,66

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

TECHNOPHAR EQUIPMENT AND SERVICE ONTARIO
Registration: Canada

Shareholder

 

99,99%
14.252 Ordinary shares

QUALICAPS INC.
Registration: United States of America

Shareholder

Franz Warner PKWY 6505
27377 Whitset North Carolina
United States of America

0,01%
1 Ordinary shares



TECHNOPHAR EQUIPMENT AND SERVICE (2007) LTD. is registered as shareholder within the following company:
- TECHNOPHAR EQUIPMENT AND SERVICE SRL J29/679/1996.

 

 

Management:

Full Name

Function

Address

KELEMEN GEZA

Managing director

Romania

BROOM ALLAN JAMES
21.04.2008 - Present

Member of the executive board

Canada

VAIDA VIORICA

Head of the Economic area

Romania

HERBERT LEE HUGILL
21.04.2008 - Present

Director

United States of America

KAWAHARA HIROSHI
21.04.2008 - Present

Director

Japan

TAKAOMI TOMIOKA
21.04.2008 - Present

Director

Japan

KATAY ISTVAN

Head of Engineering and Production

Hungary

ORANY LEVENTE

Head of Engineering and Production

Romania

 

 

 

KEY DATA ON OPERATIONS

 

 

 

 

Subject of Operation:

NACE
  2829 Manufacture of other general-purpose machinery n.e.c.


The company provides pharmaceuticals and cosmetics production plant and equipment.

Companies represented: TECHNOPHAR EQUIPMENT & SERVICE LTD Canada
NACE codes given are based on the most recent NACE Revision 2.

The company is active in the Coface sector 'Mechanics and precision'.

 

 

Company Development:

0: Development cannot be determined by outside parties

 

 

Key Data:

Amounts shown in Romanian Leu (New) (RON)

 

2008

2007

2006

2005

Turnover

10.562.349

5.470.316

6.439.257

5.871.439

Fixed assets

5.435.830

5.579.998

6.053.296

6.199.357

Equity capital

4.310.789

4.079.914

3.976.297

2.687.818

Profit after taxation

268.600

377.248

704.111

429.695

Operating result - profit

854.519

329.085

645.277

 

 

 

 

 

 

 

Industry average

 

2008

2007

2006

2005

 

2008

2007

2006

2005

Return on assets ( ROA )
Net profit / Total assets

0,04

0,05

0,11

-

 

0,02

0,17

0,16

0,10

Return on equity ( ROE )
Net profit / Shareholder equity

0,06

0,09

0,18

0,16

 

0,04

0,27

0,26

0,30


Industry average values are listed for the NACE branch: 28 - Manufacture of machinery and equipment n.e.c.

 

 

Workforce:

 

2008

2007

2006

2005

Total workforce

84

81

80

73

 

 

Imports:

Canada

 

 

Exports:

 

Canada

 

 

 

FINANCIAL INFORMATION

 

 

Financials:

Amounts shown in Romanian Leu (New) (RON)  

2008

2007

2006

2005






BALANCE SHEET

 

FIXED ASSETS

5.435.830

5.579.998

6.053.296

6.199.357

 

Intangible assets

0

 

 

 

 

Tangible assets

5.435.830

 

 

 

 

Financial fixed assets

0

 

 

 

 

CURRENT ASSETS

1.604.410

2.167.742

511.157

1.448.504

 

Inventory

577.438

1.430.699

444.281

472.026

 

Claims (receivable)

677.752

168.863

59.530

966.729

 

Liquid assets

349.220

568.180

7.346

9.749

 

SHORT TERM FINANCIAL INVESTMENTS

0

0

 

 

 

PREPAID EXPENSES

767

0

0

 

 

TOTAL ASSETS

7.041.007

7.747.740

6.564.453

 

 

EQUITY CAPITAL

4.310.789

4.079.914

3.976.297

2.687.818

 

Share capital

1.425.300

1.425.300

1.425.300

 

 

Subscribed and paid capital

1.425.300

1.425.300

1.425.300

212.740

 

Reserves

1.759.907

1.593.928

1.069.963

 

 

Short-term liabilities

841.014

2.061.059

2.144.501

 

 

Long-term liabilities

1.842.230

1.606.767

443.655

 

 

TOTAL DEBTS

2.683.244

3.667.826

2.588.156

4.963.024

 

Provisions for risks and charges

0

0

0

0

 

Deferred income

46.974

0

0

 

 

TOTAL EQUITY AND LIABILITIES

7.041.007

7.747.740

6.564.453

 






PROFIT AND LOSS

 

Turnover

10.562.349

5.470.316

6.439.257

5.871.439

 

TOTAL INCOME

10.484.805

6.735.978

6.929.340

6.623.252

 

Operating income

9.816.257

 

 

 

 

Income from financial transactions (financial income)

668.548

 

 

 

 

Extraordinary income

0

 

 

 

 

TOTAL EXPENSES

10.165.224

6.292.221

6.101.106

6.168.060

 

Operating expenses

8.961.738

 

 

 

 

Expenses on financial transactions (financial expenditures)

1.203.486

 

 

 

 

Extraordinary expenses

0

 

 

 

 

Operating result - profit

854.519

329.085

645.277

 

 

Operating result - loss

0

0

0

 

 

Profit on financial transactions (financial profit)

0

114.672

182.957

 

 

Loss on financial transactions (financial loss)

534.938

0

0

 

 

Current result - profit

319.581

443.757

828.234

 

 

Current result - loss

0

0

0

 

 

Extraordinary profit

0

0

0

 

 

Extraordinary loss

0

0

0

 

 

Profit before taxation

319.581

443.757

828.234

455.192

 

Loss before taxation

0

0

0

0

 

Profit after taxation

268.600

377.248

704.111

429.695

 

Loss after taxation

0

0

0

0

 

Profit tax

50.981

 

 

 

 

 

Approximate Exchange Rates:

2011: 4,2379 RON = 1 EUR
2010: 4,2099 RON = 1 EUR
2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2011: 3,0486 RON = 1 USD
2010: 3,1779 RON = 1 USD
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD

 

 

Financial Comments:

Effectively from July 1st 2005, the Romanian currency was redenominated so that 10,000 old lei(ROL) will be exchanged for 1 new leu (RON).
The financial statements of the companies will be published in new currency RON starting with 31.12.2005.
All financials for previous years displayed in the report were converted from ROL to RON.

 

 

Bankers:

BANCA COMERCIALA ROMANA BUCURESTI SA SUCURSALA ODORHEIU SECUIESC
535600 Odorheiu Secuiesc, Jud. Harghita, Piata Libertatii 15

BANCA ROMANA PENTRU DEZVOLTARE SA BUCURESTI FILIALA ODORHEIU SECUIESC
4150 ODORHEIUL SECUIESC, KOSSUTH LAJOS 1

 

 

Ratios:

 

 

 

 

 

Industry average

 

2008

2007

2006

2005

 

2008

2007

2006

2005

Debt Ratio
(Short-term liabilities + Long-term liabilities) / Total Assets

0,38

0,47

0,39

-

 

0,59

0,63

0,65

0,79

Quick ratio
(Current assets - Inventory)/Current liabilities

1,22

0,36

0,03

-

 

0,49

0,63

0,55

0,67

Current ratio ( CR )
Current assets / Current liabilities

1,91

1,05

0,24

-

 

0,93

0,95

0,83

0,96

Leverage
Long Term Liabilities / Total Equity

0,43

0,39

0,11

-

 

0,27

0,14

0,12

0,15

Return on sales ( ROS )
Net profit / Turnover

0,03

0,07

0,11

0,07

 

0,02

0,14

0,12

0,07

Return on assets ( ROA )
Net profit / Total assets

0,04

0,05

0,11

-

 

0,02

0,17

0,16

0,10

Return on equity ( ROE )
Net profit / Shareholder equity

0,06

0,09

0,18

0,16

 

0,04

0,27

0,26

0,30

Operating margin, in %
Operating result / Sales

8,09

6,02

10,02

-

 

 

 

 

 

Days supply in inventory
(Inventory / Turnover) * No. of days in period

19,95

95,46

25,18

29,34

 

101,87

58,68

43,22

51

Days sales in receivables
(Receivables / Turnover) * No. of days in period

23,42

11,27

3,37

60,10

 

93,46

89,10

67,33

70

Days purchase in payables
(Current Liabilities / Turnover) * No. of days in period

29,06

137,52

121,56

-

 

234,53

143,31

113,63

 

Sales to Total Assets
Sales / Total assets

1,50

0,71

0,98

-

 

0,74

1,72

1,48

1,60

Operating result / Total assets
Operating result / Total assets

0,12

0,04

0,10

-

 

 

 

 

 

Cash ratio
Cash / Current liabilities

0,42

0,28

0,00

-

 

 

 

 

 

Equity as % of total assets
(Equity capital / Total Assets) * 100

61,22

52,66

60,57

-

 

 

 

 

 

Fixed assets as % of total assets
(Fixed assests / Total assets) * 100

77,20

72,02

92,21

-

 

 

 

 

 

Receivables as % of current assets
(Receivables / Current assets) * 100

42,24

7,79

11,65

66,74

 

 

 

 

 

Net working capital
Current assets - Short-term liabilities

RON 763.396,00

RON 106.683,00

RON -1.633.344,00

-

 

 

 

 

 

Industry average values are listed for the NACE branch: 28 - Manufacture of machinery and equipment n.e.c.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.98

UK Pound

1

Rs.87.55

Euro

1

Rs.68.68

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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