MIRA
INFORM REPORT
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Report Date : |
11.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
HARRY WINSTON DIAMOND INTERNATIONAL |
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Registered Office : |
Pelikaanstraat 62, Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.01.2012 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
464577540 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of other intermediate products |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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Payment Behaviour : |
Slow |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP grew by 2.0%, the unemployment rate decreased slightly to 7.7% from 8.3% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011. Despite the relative improvement in Belgium's budget deficit, public debt hovers near 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian arm of a Franco-Belgian bank. An ageing population and rising social expenditures are mid- to long-term challenges to public finances
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Source
: CIA |
Company name and address
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Harry Winston Diamond International |
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Employees: |
2 |
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Company Type: |
Private Subsidiary |
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Corporate Family: |
54 Companies |
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Ultimate Parent: |
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Incorporation Date: |
1998 |
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Fiscal Year End: |
31-Jan-2012 |
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Reporting Currency: |
Euro |
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Annual Sales: |
249.3 1 |
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Total Assets: |
8.6 |
Business Description
|
Wholesale of other intermediate products |
Industry
|
Industry |
Retail
(Department and Discount) |
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ANZSIC 2006: |
373 - Furniture,
Floor Covering and Other Goods Wholesaling |
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NACE 2002: |
5156 - Wholesale
of other intermediate products |
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NAICS 2002: |
4239 -
Miscellaneous Durable Goods Merchant Wholesalers |
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UK SIC 2003: |
5156 - Wholesale
of other intermediate products |
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UK SIC 2007: |
4676 - Wholesale
of other intermediate products |
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US SIC 1987: |
509 -
Miscellaneous Durable Goods |
Key Executives
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Registered No.(VAT)
464577540
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7214681
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7624164
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Harry Winston Diamond International |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Altdorf |
Switzerland |
Hotels and Motels |
288.7 |
17,119 |
||
|
Subsidiary |
Cairo |
Egypt |
Miscellaneous Financial Services |
20,000 |
|||
|
Subsidiary |
Cairo |
Egypt |
Construction Services |
5,504.9 |
80,000 |
||
|
Acquisition of The Weitz Company proposed/announced.See corporate structure news on Orascom
Development Holding AG for details |
|||||||
|
Subsidiary |
Dubai |
United Arab Emirates |
Engineering Consultants |
8,000 |
|||
|
Subsidiary |
Cairo |
Egypt |
Chemical Manufacturing |
650 |
|||
|
Subsidiary |
Algiers |
Algeria |
Construction Services |
500 |
|||
|
Subsidiary |
Cairo |
Egypt |
Construction Services |
98 |
|||
|
Subsidiary |
Alexandria |
Egypt |
Engineering Consultants |
||||
|
Subsidiary |
Giza |
Egypt |
Office Supplies |
||||
|
Subsidiary |
Arlington, VA |
United States |
Engineering Consultants |
40 |
|||
|
Subsidiary |
Bruxelles |
Belgium |
Construction Services |
13.2 |
19 |
||
|
Subsidiary |
Bruxelles |
Belgium |
Construction Services |
814.7 |
579 |
||
|
Subsidiary |
Oostkamp |
Belgium |
Construction Services |
13.9 |
51 |
||
|
Subsidiary |
Opvelp |
Belgium |
Real Estate Operations |
24.7 |
8 |
||
|
Centre De Coordination Des Betons - Coordinatie Centrum
Beton |
Subsidiary |
Bruxelles |
Belgium |
Commercial Banks |
0.4 |
||
|
Subsidiary |
Bruxelles |
Belgium |
Construction Services |
0.0 |
|||
|
Subsidiary |
Malmedy |
Belgium |
Construction Services |
135.6 |
495 |
||
|
Subsidiary |
Dubai |
United Arab Emirates |
Construction Services |
350 |
|||
|
Subsidiary |
Awenne |
Belgium |
Construction Services |
62.3 |
312 |
||
|
Subsidiary |
Bastogne |
Belgium |
Construction - Raw Materials |
9.5 |
15 |
||
|
Subsidiary |
Saintes |
Belgium |
Construction Services |
65.9 |
209 |
||
|
Subsidiary |
Saintes |
Belgium |
Construction Services |
0.0 |
2 |
||
|
Subsidiary |
Geel |
Belgium |
Construction Services |
110.5 |
208 |
||
|
Subsidiary |
Geel |
Belgium |
Construction Services |
12.5 |
32 |
||
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Subsidiary |
Geel |
Belgium |
Construction Services |
0.8 |
14 |
||
|
Subsidiary |
Lommel |
Belgium |
Retail (Specialty) |
0.0 |
8 |
||
|
Subsidiary |
Antwerpen |
Belgium |
Retail (Department and Discount) |
249.3 |
2 |
||
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Subsidiary |
Bruxelles |
Belgium |
Construction Services |
132.0 |
182 |
||
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Subsidiary |
Bruxelles |
Belgium |
Construction Services |
21.3 |
|||
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Subsidiary |
Naninne |
Belgium |
Construction Services |
38.7 |
138 |
||
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Transportation |
6.2 |
50 |
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Subsidiary |
Lier |
Belgium |
Miscellaneous Transportation |
2.5 |
2 |
||
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Subsidiary |
Bruxelles |
Belgium |
Real Estate Operations |
35.7 |
18 |
||
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Subsidiary |
Bruxelles |
Belgium |
Construction Services |
21.6 |
18 |
||
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Subsidiary |
Lommel |
Belgium |
Fish and Livestock |
5.1 |
|||
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Subsidiary |
Machelen (Bt.) |
Belgium |
Miscellaneous Capital Goods |
0.7 |
|||
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Subsidiary |
Bruxelles |
Belgium |
Hotels and Motels |
0.5 |
|||
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Subsidiary |
Mignault |
Belgium |
Trucking |
14.7 |
115 |
||
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Subsidiary |
Brugge |
Belgium |
Trucking |
0.0 |
53 |
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Subsidiary |
Bruxelles |
Belgium |
Food Processing |
28.1 |
32 |
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Subsidiary |
Steenokkerzeel |
Belgium |
Retail (Specialty) |
36.4 |
28 |
||
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Subsidiary |
Cairo |
Egypt |
Investment Services |
9 |
|||
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Subsidiary |
Cairo |
Egypt |
Furniture and Fixtures |
22.0 |
|||
|
Subsidiary |
Cairo |
Egypt |
Real Estate Operations |
||||
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Subsidiary |
Giza |
Egypt |
Engineering Consultants |
||||
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Subsidiary |
Cairo |
Egypt |
Engineering Consultants |
||||
|
Subsidiary |
Cairo |
Egypt |
Construction Services |
||||
|
Subsidiary |
Limassol |
Cyprus |
Chemical Manufacturing |
||||
|
Subsidiary |
Cairo |
Egypt |
Hotels and Motels |
240.6 |
3,000 |
||
|
Subsidiary |
Cairo |
Egypt |
Hotels and Motels |
||||
|
Subsidiary |
Giza |
Egypt |
Construction Services |
230 |
|||
|
Subsidiary |
Cairo |
Egypt |
Consumer Financial Services |
60 |
|||
|
Subsidiary |
Cairo |
Egypt |
Personal Services |
||||
|
Subsidiary |
Andermatt |
Switzerland |
Mobile Homes and RVs |
||||
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31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.721468 |
0.759051 |
0.714938 |
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Consolidated |
No |
No |
No |
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Turnover |
249.3 |
239.3 |
161.2 |
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Other Operating
Income |
0.1 |
0.1 |
0.1 |
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Operating Income |
249.4 |
239.4 |
161.3 |
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Purchases |
246.8 |
235.2 |
139.4 |
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Increase
or Decrease in Stocks |
-1.8 |
0.5 |
18.8 |
|
Raw Materials,
Consumables, and Goods for Release |
245.0 |
235.6 |
158.2 |
|
Services and
Sundry Goods |
2.7 |
2.0 |
1.9 |
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Remuneration,
Social Security Charges, and Pensions |
0.3 |
0.2 |
0.2 |
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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 |
|
Other Operating
Charges |
0.0 |
0.1 |
0.0 |
|
Operating Charges
|
248.1 |
237.9 |
160.4 |
|
Income From
Current Assets |
0.0 |
0.0 |
0.0 |
|
Other Financial
Income |
- |
0.0 |
0.0 |
|
Financial Income |
0.0 |
0.0 |
0.0 |
|
Interest and Other
Debt Charges |
0.8 |
0.5 |
0.3 |
|
Other Financial
Charges |
0.3 |
0.3 |
0.3 |
|
Financial
Charges |
1.0 |
0.8 |
0.6 |
|
Income Taxes |
0.1 |
0.2 |
0.1 |
|
Income Taxes |
0.1 |
0.2 |
0.1 |
|
To
the Legal Reserve |
0.0 |
0.0 |
0.0 |
|
Transfers to
Capital and Reserves |
0.0 |
0.0 |
0.0 |
|
Administrators
or Managers |
- |
0.1 |
- |
|
Profit to be
Distributed |
- |
0.1 |
- |
|
Employees |
2 |
2 |
2 |
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.762416 |
0.729395 |
0.71945 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Plant,
Machinery, and Equipment |
0.1 |
0.0 |
0.0 |
|
Furniture
and Vehicles |
0.0 |
0.0 |
0.0 |
|
Tangible
Assets |
0.1 |
0.1 |
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 |
0.1 |
|
Goods
Purchased for Resale |
2.8 |
1.1 |
1.6 |
|
Stocks |
2.8 |
1.1 |
1.6 |
|
Inventory
and Orders in Progress |
2.8 |
1.1 |
1.6 |
|
Trade
Debtors |
5.3 |
0.2 |
- |
|
Other
Amounts Receivable |
0.1 |
0.0 |
0.1 |
|
Amounts
Receivable Within One Year |
5.3 |
0.3 |
0.1 |
|
Liquid
Assets |
0.3 |
15.7 |
9.9 |
|
Adjustment
Accounts |
0.0 |
0.0 |
0.0 |
|
Current Assets |
8.5 |
17.1 |
11.6 |
|
Total Assets |
8.6 |
17.1 |
11.6 |
|
Issued
Capital |
1.0 |
1.0 |
1.0 |
|
Capital
|
1.0 |
1.0 |
1.0 |
|
Legal
Reserve |
0.1 |
0.1 |
0.1 |
|
Reserves |
0.1 |
0.1 |
0.1 |
|
Capital and
Reserves |
3.1 |
2.9 |
2.4 |
|
Non-Subordinated
Bond Debentures |
- |
4.3 |
4.2 |
|
Financial
Debts |
- |
4.3 |
4.2 |
|
Amounts
Due After More Than One Year |
- |
4.3 |
4.2 |
|
Current
Portion of Amounts Payable After More Than One Year |
4.2 |
- |
- |
|
Credit
Institutions |
0.1 |
- |
- |
|
Financial
Debts |
0.1 |
- |
- |
|
Suppliers |
0.2 |
8.3 |
3.7 |
|
Trade
Debts |
0.2 |
8.3 |
3.7 |
|
Taxes |
0.1 |
0.1 |
0.0 |
|
Remuneration
and Social Security |
0.2 |
0.1 |
0.0 |
|
Taxes,
Wages, and Social Security |
0.3 |
0.3 |
0.0 |
|
Other
Amounts Payable |
0.6 |
0.6 |
0.5 |
|
Amounts
Payable Within One Year |
5.4 |
9.1 |
4.2 |
|
Adjustment
Accounts |
0.2 |
0.9 |
0.7 |
|
Creditors |
5.5 |
14.3 |
9.2 |
|
Total
Liabilities + Shareholders' Equity |
8.6 |
17.1 |
11.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.87.09 |
|
Euro |
1 |
Rs.70.13 |
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.