MIRA INFORM REPORT

 

 

Report Date :

23.07.2012

 

IDENTIFICATION DETAILS

 

Name :

A.G. -CHIM TRADING-COMPANY SRL 

 

 

Registered Office :

Sos Dudesti-Pantelimon 42C, 33094 Bucuresti, sector 3

 

 

Country :

Romania

 

 

Financials (as on) :

2011

 

 

Date of Incorporation :

01.09.1995 

 

 

Com. Reg. No.:

No. J40/7375/1995 

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Export of chemicals products

 

 

No. of Employees :

21

 

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)

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

 

 

 

A.G. -CHIM TRADING-COMPANY SRL 

Principal Address:
Sos Dudesti-Pantelimon 42C
033094 Bucuresti, sector 3
Romania
Telephone: +40-21-2557020, +40-724-215499
Fax: +40-21-2557052
Email: office@agchim.ro
Web: www.agchim.ro

Branch production:
Pantelimon 89, Bl. 404
021593 Bucuresti, Sector 2
Romania
Telephone: +40-21-2501334, +40-21-2505737, +40-21-2509391, +40-21-2094911
Fax: +40-21-2094911

 

ICON number: 45319690 
National ID: J40/7375/1995 
VAT number: 7741052

 

Registration status: 01.09.1995 - registered company
Activity status: 01.09.1995 - active company

 

 

CREDIT INFORMATION SUMMARY  

 

 

 

Insolvency Information:

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

 

 

 

 

Payment Practices:

Payments are made mostly according to terms
According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 31.03.2012.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 31.12.2011.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 30.09.2011.

The company was registered at 30.06.2011 with a debt to the budgets of RON 36.735, out of which:
Outstanding debts towards the State Budget: RON 12.296. For this amount there are compensation requests in progress.
Outstanding debts towards unemployment insurance budget: RON 695. For this amount there are compensation requests in progress.
Outstanding debts towards the state social security budget: RON 17.366. For this amount there are compensation requests in progress.
Outstanding debts towards the health insurance budget: RON 6.378. For this amount there are compensation requests in progress.

The company was registered at 31.03.2011 with a debt to the budgets of RON 28.404, out of which:
Outstanding debts towards the State Budget: RON 7.113. For this amount there are compensation requests in progress.
Outstanding debts towards unemployment insurance budget: RON 600. For this amount there are compensation requests in progress.
Outstanding debts towards the state social security budget: RON 15.135. For this amount there are compensation requests in progress.
Outstanding debts towards the health insurance budget: RON 5.556. For this amount there are compensation requests in progress.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 31.12.2010.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 30.09.2010.

 

 

Further Rating Information:

Researched company is categorized as a small company.
Turnover volume of RON 71.814.022 in the year 2011 increased by 12,33% compared with 2010. In the previous period this change was -16,01%.
Fixed assets decreased by RON 264.490 and now 23,15% of total assets.
Working capital registered a positive development and is RON 590.612, the value in last period was negative.

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS      

 

 

 

Established:

1995

 

 

Registration:

No. J40/7375/1995 
01.09.1995 
Bucuresti, Romania

 

 

Legal Form:

Limited Liability Company

 

               

Capital:

Nominal capital:

 

RON 360.000,00

Number of Ordinary shares:

3.600

 

Value per share of Ordinary shares:

RON 100,00

 

 

Paid-up capital:

 

RON 360.000,00

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

RIFAI AHMAD

Shareholder

Romania

100,00%
3.600 Ordinary shares

 

 

Management:

Full Name

Function

Address

RIFAI AHMAD
31.08.1995 - Present

Managing director

Romania

 

 

 

KEY DATA ON OPERATIONS      

 

 

 

Subject of Operation:

NACE
  4619 Agents involved in the sale of a variety of goods


The activity of the company is the EXPORT of chemicals products representing Romanian producers on Middle East, Far East, West Africa and Latin America and IMPORT of raw materials used by Romanian chemical, pharmaceutical, cosmetics, paint and ink industries. 
NACE codes given are based on the most recent NACE Revision 2.

The company is active in the sector 'Agriculture, meat, agro food and wines'.

Inflation rate: 6,09%

 

 

Company Development:

300: Satisfactory business development

 

 

Key Data: 

Amounts shown in Romanian Leu (New) (RON)

 

2011

2010

2009

2008

Turnover

71.814.022

63.932.479

76.118.339

34.557.447

Fixed assets

4.763.484

5.027.974

5.778.461

5.346.486

Equity capital

5.355.341

2.863.349

3.576.224

1.834.910

Profit after taxation

2.491.992

2.376.454

2.585.898

1.026.781

Operating result - profit

3.796.947

2.420.066

4.406.753

2.425.533

 

 

 

 

 

 

Industry average

 

2011

2010

2009

2008

 

2011

2010

2009

2008

Return on assets ( ROA )
Net profit / Total assets

0,12

0,10

0,06

0,04

 

 

0,01

0,01

0,04

Return on equity ( ROE )
Net profit / Shareholder equity

0,47

0,83

0,72

0,56

 

 

0,05

0,04

0,15


Industry average values are listed for the NACE branch: 46 - Wholesale trade, except of motor vehicles and motorcycles

 

 

Workforce:

 

2011

2010

2009

2008

Total workforce

21

20

18

18

 

 

 

 

 

FINANCIAL INFORMATION

             

 

 

Financials: 

Amounts shown in Romanian Leu (New) (RON)  

2011

2010

2009

2008

 



BALANCE SHEET

 

FIXED ASSETS

4.763.484

5.027.974

5.778.461

5.346.486

 

Intangible assets

0

0

0

0

 

Tangible assets

4.761.834

5.026.624

5.777.561

5.330.497

 

Financial fixed assets

1.650

1.350

900

15.989

 

CURRENT ASSETS

15.811.794

16.530.375

36.451.997

18.182.072

 

Inventory

4.288.716

5.194.040

12.052.285

5.774.275

 

Claims (receivable)

9.436.590

11.072.344

17.891.617

7.095.286

 

Liquid assets

2.086.488

263.991

6.508.095

5.312.511

 

SHORT TERM FINANCIAL INVESTMENTS

0

0

0

0

 

PREPAID EXPENSES

1.586

1.679.008

992.370

0

 

TOTAL ASSETS

20.576.864

23.237.357

43.222.828

23.528.558

 

EQUITY CAPITAL

5.355.341

2.863.349

3.576.224

1.834.910

 

Share capital

360.000

360.000

360.000

360.000

 

Subscribed and paid capital

360.000

360.000

360.000

360.000

 

Reserves

106.851

106.851

36.851

36.851

 

Short-term liabilities

15.221.182

19.220.388

28.809.437

16.344.617

 

Long-term liabilities

0

1.153.620

2.897.237

4.340.628

 

TOTAL DEBTS

15.221.182

20.374.008

31.706.674

20.685.245

 

Provisions for risks and charges

0

0

0

0

 

Deferred income

341

0

7.939.930

1.008.403

 

TOTAL EQUITY AND LIABILITIES

20.576.864

23.237.357

43.222.828

23.528.558

 



PROFIT AND LOSS

 

Turnover

71.814.022

63.932.479

76.118.339

34.557.447

 

TOTAL INCOME

77.396.038

69.021.420

80.899.694

37.357.798

 

Operating income

71.814.217

64.038.738

76.124.408

34.573.947

 

Income from financial transactions (financial income)

5.581.821

4.982.682

4.775.286

2.783.851

 

Extraordinary income

0

0

0

0

 

TOTAL EXPENSES

74.399.128

66.189.805

77.812.904

36.141.073

 

Operating expenses

68.017.270

61.618.672

71.717.655

32.148.414

 

Depreciation of non-current assets

272.965

306.642

 

 

 

Depreciation (impairment) of current assets

0

0

 

 

 

Expenses on financial transactions (financial expenditures)

6.381.858

4.571.133

6.095.249

3.992.659

 

Extraordinary expenses

0

0

0

0

 

Operating result - profit

3.796.947

2.420.066

4.406.753

2.425.533

 

Operating result - loss

0

0

0

0

 

Profit on financial transactions (financial profit)

0

411.549

0

0

 

Loss on financial transactions (financial loss)

800.037

0

1.319.963

1.208.808

 

Current result - profit

2.996.910

2.831.615

3.086.790

1.216.725

 

Current result - loss

0

0

0

0

 

Extraordinary profit

0

0

0

0

 

Extraordinary loss

0

0

0

0

 

Profit before taxation

2.996.910

2.831.615

3.086.790

1.216.725

 

Loss before taxation

0

0

0

0

 

Profit after taxation

2.491.992

2.376.454

2.585.898

1.026.781

 

Loss after taxation

0

0

0

0

 

Profit tax

504.918

455.161

500.892

189.944



 

 

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

 

 

Bankers:

BANCA COMERCIALA ROMANA SA
030016 Bucuresti, Sector 3, Regina Elisabeta 5

BANCA TRANSILVANIA SA CLUJ SUCURSALA PANTELIMON BUCURESTI - Account no. RO56BTRL04702202418450XX USD
021657 Bucuresti, Sector 2, Pantelimon 328

BANCA TRANSILVANIA SA CLUJ SUCURSALA PANTELIMON BUCURESTI - Account no. RO73BTRL04701202418450XX RON
021657 Bucuresti, Sector 2, Pantelimon 328

PIRAEUS BANK ROMANIA SA - Account no. RO12 PIRB 4201 7018 2600 2000 USD
011132 Sector 1, Soseaua Nicolae Titulescu 29-31

PIRAEUS BANK ROMANIA SA - Account no. RO46 PIRB 4201 7018 2600 1000 RON
011132 Sector 1, Soseaua Nicolae Titulescu 29-31

PIRAEUS BANK ROMANIA SA - Account no. RO75 PIRB 4201 7018 2600 3000 EUR
011132 Sector 1, Soseaua Nicolae Titulescu 29-31

 

 

Ratios: 

 

 

 

 

 

Industry average

 

2011

2010

2009

2008

 

2011

2010

2009

2008

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

0,74

0,88

0,73

0,88

 

 

0,78

0,76

0,75

Quick ratio
(Current assets - Inventory)/Current liabilities

0,76

0,59

0,85

0,76

 

 

0,79

0,76

0,76

Current ratio ( CR )
Current assets / Current liabilities

1,04

0,86

1,27

1,11

 

 

1,12

1,10

1,14

Leverage
Long Term Liabilities / Total Equity

0

0,40

0,81

2,37

 

 

0,61

0,59

0,57

Return on sales ( ROS )
Net profit / Turnover

0,03

0,04

0,03

0,03

 

 

0,01

0,01

0,02

Return on assets ( ROA )
Net profit / Total assets

0,12

0,10

0,06

0,04

 

 

0,01

0,01

0,04

Return on equity ( ROE )
Net profit / Shareholder equity

0,47

0,83

0,72

0,56

 

 

0,05

0,04

0,15

Operating margin, in %
Operating result / Sales

5,29

3,79

5,79

7,02

 

 

 

 

 

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

21,80

29,65

57,79

60,99

 

 

49,27

49,23

47,23

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

47,96

63,21

85,79

74,94

 

 

97,13

92,34

80,98

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

77,36

109,73

138,15

172,63

 

 

146,17

142,85

126,64

Sales to Total Assets
Sales / Total assets

3,49

2,75

1,76

1,47

 

 

1,58

1,56

1,73

Operating result / Total assets
Operating result / Total assets

0,18

0,10

0,10

0,10

 

 

 

 

 

Cash ratio
Cash / Current liabilities

0,14

0,01

0,23

0,33

 

 

 

 

 

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

26,03

12,32

8,27

7,80

 

 

 

 

 

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

23,15

21,64

13,37

22,72

 

 

 

 

 

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

59,68

66,98

49,08

39,02

 

 

 

 

 

Net working capital
Current assets - Short-term liabilities

RON 590.612,00

RON -2.690.013,00

RON 7.642.560,00

RON 1.837.455,00

 

 

 

 

 


Industry average values are listed for the NACE branch: 46 - Wholesale trade, except of motor vehicles and motorcycles

 

 

ADDITIONAL INFORMATION      

 

 

 

Press Releases:

There is no media relevant information regarding the subject company.

 

 

Central Register of Right of Liens:

For the subject company, there are in ROMARHIVA - Electronic Archive for Secured Transactions.

 

 

Trials records:

According to the Ministry of Justice there are no opened files regarding summon for payment/payment ordinance for the subject company.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.58

Euro

1

Rs.67.60

 

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%)

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.