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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
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Name : |
EDITH NEUMANN KG |
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Registered Office : |
Praterstraße
42/III/1, A-1020 Wien |
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Country : |
Austria |
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Year of Establishment : |
1975 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale of watches and jewellery |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Austria |
A2 |
A2 |
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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 |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.9% in 2009 but saw positive growth of about 2% in 2010 and 3% in 2011. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.7% in 2010 and 3.6% in 2011, from only about 1.3% in 2008. The international financial crisis of 2008 caused difficulties for Austria''s largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria''s fiscal position compares favorably with other euro-zone countries, but it faces considerable external risks, such as Austrian banks'' continued high exposure to central and eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity budget that will bring public finances into balance by 2016.
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Source : CIA |
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Company name: |
Edith Neumann KG |
|
Status: |
active company |
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Locations: |
Praterstraße
42/III/1, A-1020 Wien |
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Phone: |
0043 (1) 2140636 |
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Fax: |
0043 (1) 2140644 |
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E-mail: |
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Activities: |
Önace
46480 100% Wholesale of watches and jewellery |
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General Assessment: |
Model: CompanyScore |
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Probability of Default (Basel II): |
0,70% Low risk |
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comparison: |
The Rating of this company meets industry average. |
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Recommendation: |
In respect to solvency reasons, there is nothing to say against
an establishment of a business relationship. |
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Detail Assessment: |
As far as insight is possible, payments are mostly made
according to conditions, nothing detrimental known. No experience of
importance at present. |
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Financial situation is average, increased use of external
capital. |
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Year of incorporation: |
1975 |
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Type of company: |
Wholesale and retail trade; repair of motor vehicles |
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Legal form: |
limited liability partnership since 1990-12-21 |
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companies' house number: |
FN 3745 h Wien 1985-07-31 |
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Activities: |
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VAT number: |
ATU 10754904 |
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number - Austrian National Bank: |
580716 |
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Import |
Country |
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Import |
world-wide |
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2012 |
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Export |
Country |
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Export |
world-wide |
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2012 |
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total turnover (total sales) |
2011 |
EUR 2.500.000,00 |
(estimated) |
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total employees |
2012 |
3 |
(exact) |
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part-time employees |
2012 |
3 |
(exact) |
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total company vehicles |
2012 |
1 |
(exact) |
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cars |
2012 |
1 |
(exact) |
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firm
(style): |
|
2 Edith Neumann KG |
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legal
form: |
|
2
Kommanditgesellschaft |
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registered
office: |
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1
politischer Gemeinde
Wien |
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business
adress: |
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3
Praterstraße 42/III/1 |
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general
partner: |
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B
Ilan Neumann, geb.
20.11.1958 |
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limited
partner: |
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A
Edith Neumann, geb. 29.04.1930 |
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general
table: |
|
Handelsgericht Wien |
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Real
estate text: |
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No real estate property registered |
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Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as
registered in the companies' house) |
|
Ilan
Neumann |
1958-11-20 |
1010 Wien Stubenring
2 |
general partner |
6 |
|
Theodor
Neumann |
1956-01-13 |
1020 Wien Praterstraße
25 A |
general partner |
6 |
|
Edith Neumann |
1930-04-29 |
1090 Wien Nußdorferstraße
43/6 |
limited partner |
0 |
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Type |
Locations |
Description |
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E-mail |
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operational |
Praterstraße
42/III/1, A-1020 Wien |
registered office |
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operational |
Praterstraße
42/III/1, A-1020 Wien |
registered headquarters,
rented premises |
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former |
Nußdorferstraße
43/6, A-1090 Wien |
registered headquarters |
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Company name |
Postal code |
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Companies House |
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Affiliated companies and
further participations: |
||||
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"Timmo" Handels GmbH |
Praterstraße
42, A-1020 Wien |
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FN 164753 i |
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NADLAN HandelsgmbH |
Praterstraße
42, A-1020 Wien |
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FN 210709 t |
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"Cheaper Life" Liegenschafts-
verwaltungs GmbH |
Donaufelderstraße
35, A-1210 Wien |
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|
FN 286838 x |
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Ilan
Neumann |
Praterstraße
42/3, A-1020 Wien |
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Theodor
Neumann |
Praterstraße
42/3, A-1020 Wien |
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Banker |
Bank sort code |
Type of banking connection |
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Erste
Bank der oesterreichischen
Sparkassen AG, 1011 Wien |
20111 |
main bank connection |
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Raiffeisenbank Korneuburg, 2100 Korneuburg |
32395 |
secondary banking connection |
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Year of incorporation: |
1975 |
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Date of registration: |
1985-07-31 |
DIAMOND INDUSTRY –
INDIA
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.55.65 |
|
UK Pound |
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.