|
Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
HANS-GERD SWAFING E.K. |
|
|
|
|
Registered Office : |
Bentheimer Str.
175-179, D 48529 Nordhorn |
|
|
|
|
Country : |
Germany |
|
|
|
|
Year of Establishment : |
1960 |
|
|
|
|
Com. Reg. No.: |
HRA
130039 |
|
|
|
|
Legal Form : |
Sole proprietorship |
|
|
|
|
Line of Business : |
Wholesaler
of textiles |
|
|
|
|
No. of Employees : |
33 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GERMANY - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
|
Source
: CIA |
Hans-Gerd Swafing e.K.
Bentheimer Str.
175-179
D 48529 Nordhorn
Telephone: 05921/30530
Telefax:
05921/305333
Homepage: www.swafing.com
E-mail: info@swafing.com
DE117026967
55/139/03063
Business
relations are permissible.
LEGAL FORM Sole proprietorship
Date of foundation: 1960
Begin of business
activities: 26.09.1961
Registered on: 26.09.1961
Register of
companies: Local court 49074 Osnabrück
under: HRA 130039
Hans-Gerd Swafing
Bachstr. 16
D 48527 Nordhorn
born: 1962
Profession: Businessman
Marital status: single
Bernd Wegbünder
D 48527 Nordhorn
having sole power of representation
born: 22.09.1953
Main industrial sector
46410 Wholesale of textiles
Payment
experience: within agreed terms
Negative
information: We have no negative information
at hand.
Type of
ownership: Tenant
Address Bentheimer Str. 175-179
D 48529 Nordhorn
Land register documents were not available.
Principal banks
KREISSPARKASSE GRAFSCHAFT BENTHEIM ZU NORDHORN, NORDHORN
Sort. code: 26750001, BIC: NOLADE21NOH
OLDENBURGISCHE LANDESBANK AG, NORDHORN
Sort. code: 26720028, BIC: OLBODEH2267
Further banks
DEUTSCHE BANK, NORDHORN
Sort. code: 26770095, BIC: DEUTDE3B267
POSTBANK, HANNOVER
Sort. code: 25010030, BIC: PBNKDEFF250
Financial year: 01.01. - 31.12.
Turnover: 2010 EUR 6,000,000.00
2011 EUR 5,900,000.00
Expected turnover: EUR 6,000,000.00
further business figures:
Equipment: EUR 231,000.00
Ac/ts
receivable:
EUR 1,683,000.00
Liabilities: EUR 2,640,000.00
Employees:
33
The aforementioned business figures may partly be estimated information based on average values in the line of business.
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.