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Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
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Name : |
PHANTO HANDELSGESELLSCHAFT M.B.H. |
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Registered Office : |
Gentzgasse 156/6, A-1180 Wien |
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Country : |
Austria |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.06.1990 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail trade; repair of motor vehicles |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Austria |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
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Company name: |
Phanto Handelsgesellschaft m.b.H. |
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Status: |
active company |
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Locations: |
Gentzgasse 156/6, A-1180 Wien |
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Phone: |
0043 (1) 4780601 |
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Fax: |
0043 (1) 4786942 |
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Activities: |
Önace 46480 100% Wholesale of watches and jewellery |
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|
|
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General Assessment: |
Model: CompanyScore |
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Probability of Default (Basel II): |
0,16% Very low risk |
|
comparison: |
The Rating of this company is better than 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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|
|
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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 satisfactory. |
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Year of incorporation: |
1990 |
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Type of company: |
Wholesale and retail trade; repair of motor vehicles |
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Legal form: |
limited liability company since 1990-05-11 |
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companies' house number: |
FN 69501 h Wien 1990-06-21 |
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Activities: |
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VAT number: |
ATU 16042208 |
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number - Austrian National Bank: |
1440020 |
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Import |
Country |
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Import |
Greece |
|
2012 |
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||
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Import |
Italy |
|
2012 |
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||
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Import |
Spain |
|
2012 |
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||
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||||
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Export |
Country |
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Export |
Germany |
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2012 |
|
|
total turnover (total sales) |
2011 |
EUR 2.000.000,00 |
(estimated) |
|
total employees |
2012 |
3 |
(approx.) |
|
white collar workers |
2012 |
3 |
(approx.) |
|
total company vehicles |
2012 |
1 |
(approx.) |
|
cars |
2012 |
1 |
(approx.) |
|
firm
(style): |
|
1
Phanto Handelsgesellschaft m.b.H. |
|
legal
form: |
|
1
Gesellschaft mit beschränkter Haftung |
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registered
office: |
|
1
politischer Gemeinde Wien |
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business
adress: |
|
5
Gentzgasse 156/6 |
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capital: |
|
1
ATS 500.000 |
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reference
date annual accounts: |
|
1
31. Dezember |
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annual
accounts: |
|
18
zum 31.12.2011 eingereicht am 27.09.2012 |
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power
of representation: |
|
1
Die Generalversammlung bestimmt, wenn mehrere Geschäfts- |
|
managing
director: |
|
C
Theodoros Hristodoulidis, geb. 19.10.1961 |
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shareholder: |
|
C
Theodoros Hristodoulidis, geb. 19.10.1961 |
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general
table: |
|
Handelsgericht Wien |
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Real
estate text: |
|
No real estate property registered |
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions
(as registered in the companies' house) |
|
Theodoros Hristodoulidis |
1961-10-19 |
1030 Wien Dampfschiffgasse 12 |
manager, partner |
0 |
(absolute) all amounts in
EUR
|
|
2011-12-31 |
|
Other intangible assets |
3.440,00 |
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Sum intangible assets |
3.440,00 |
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Other tangible assets |
42.054,73 |
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Sum tangible assets |
42.054,73 |
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Sum fixed assets |
45.494,73 |
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Special account stock |
285.265,50 |
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Sum stock |
285.265,50 |
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Special account claims |
847.468,08 |
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Sum claims |
847.468,08 |
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Cash on hand, cheques and bank deposits |
13.780,51 |
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Sum cash and bank |
13.780,51 |
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Sum current assets |
1.146.514,09 |
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Deferred charges |
1.389,03 |
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Sum deferred charges |
1.389,03 |
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Assets |
1.193.397,85 |
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Subscribed/declared capital |
36.336,42 |
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Other reserves |
1.592,79 |
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Balance sheet profit/balance sheet loss |
771.414,72 |
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Thereof profit/loss carried forward |
713.038,39 |
|
stock |
-18.168,21 |
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Sum equity capital |
791.175,72 |
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Other reserves before taxes |
1.927,85 |
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Sum reserves before taxes |
1.927,85 |
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Other reserves |
1.930,00 |
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Sum reserves |
1.930,00 |
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Other liabilities |
398.364,28 |
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Sum liabilities |
398.364,28 |
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Liabilities |
1.193.397,85 |
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Balance sheet sum |
1.193.397,85 |
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|
2011 |
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Equity capital share |
66,45 |
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Fixed assets coverage |
1.743,28 |
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Type |
Locations |
Description |
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operational |
Gentzgasse 156/6, A-1180 Wien |
registered office |
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operational |
Gentzgasse 156/6, A-1180 Wien |
registered headquarters, rented premises |
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former |
Dampfschiffstraße 12, A-1030 Wien |
registered office |
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former |
Dampfschiffstraße 126/1/12, A-1180 Wien |
registered headquarters |
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Company name |
Postal code |
Stake in % |
|
Companies House |
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Shares in this company are
held by: |
||||
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Theodoros Hristodoulidis |
Dampfschiffgasse 12/1/12, A-1030 Wien |
100 % 1990-05-02 |
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Affiliated companies and further
participations: |
||||
|
ijewel GmbH |
Thurngasse 8/24, A-1090 Wien |
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|
FN 349309 s |
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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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Intermarket Bank AG, 1030 Wien |
73600 |
secondary banking connection |
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Year of incorporation: |
1990 |
|
Date of registration: |
1990-06-21 |
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Former executives: |
|||
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From |
To |
Function |
Name |
|
|
1998-10-24 |
manager |
Georgios Panetsos |
|
|
1998-10-24 |
individual signing clerk |
Werner Hermann |
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Former shareholders: |
|||
|
From |
To |
Function |
Name |
|
1990-05-02 |
1998-10-24 |
partner |
Georgios Panetsos |
DIAMOND INDUSTRY –
INDIA
-
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.
-
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.
-
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.
-
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.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
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.