|
Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
RED OAK SA |
|
|
|
|
Registered Office : |
Rua Da Lionesa, Centro Empresarial Da Lionesa, G6, Sala 11,
Leca Do Balio, Matosinhos |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
09.03.2007 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of clothing and accessories |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
Litigation : |
Exist |
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 – September 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Portugal |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Name |
RED OAK SA |
|
|
|
IIC Number |
1092990 |
V.A.T. Number / NIF |
508075289 |
|
Address |
Rua da Lionesa, Centro Empresarial da Lionesa, G6, sala 11 |
|
|
|
Locality |
LECA DO BALIO |
Postal Code |
4465-671-LECA DO BALIO |
|
Municipality |
MATOSINHOS |
District |
PORTO |
|
Telephone |
229013200, 229051600 |
|
|
|
Fax |
229051659 |
|
|
|
E-Mail |
info@r-oak.com |
|
|
|
Web Site |
www.r-oak.com |
|
|
|
|
|
|
|
|
C.A.E.(Rev 3) |
46421- Wholesale of clothing and accessories |
|
|
|
Legal Form |
Joint Stock Company |
|
|
|
Constitution |
09-03-2007 |
V.A.T. Number / NIF |
508075289 |
|
Capital |
4.400.000,00 |
|
|
|
Sales in : 31-12-2010 |
7.418.387,99 |
Shareholders Funds in: 31-12-2010 |
3.208.919,50 |
|
Credit |
Caution |
|
|
|
Condition |
Unstable |
Tendency |
Stationary |
|
Financing |
Not Guaranteed |
Payments |
Slow |
|
|
|
|
|
|
Actual Condition |
In activity |
|
|
|
All
the amounts are express in Euros, otherwise you will be advised |
Governing Bodies
|
|
|
|
|
Board of Director's |
|
|
MIGUEL DOMINGUES DOS SANTOS REIS MAYA |
Administrator |
|
PEDRO MIGUEL MONTES TERRA PINHEIRO |
Administrator |
|
SANDRO FIGUEIREDO LOPES DA SILVA |
Administrator |
|
|
|
|
Fiscal Board |
|
|
ERNST & YOUNG AUDIT & ASSOCIADOS SROC |
Unique Fiscal |
|
JOAO CARLOS MIGUEL ALVES |
Fiscal Board Substitute |
Banks and Financial
Institutions
|
|
BANCO ESPIRITO SANTO, SA |
Porto Empresas |
Historical
|
|
Registed on the Register Record Office of Porto in 3ª.
Secçăo with the Register Number 508075289 in 09-03-2007 |
|
Constitution celebrated in 09-03-2007 published on Portal
MJ of 09-03-2007 |
|
To oblige the company it is necessary 2 signature |
Changes to Society
|
|
In 16-10-2010 on Portal MJ of 18-10-2010 increase of
capital Clique para ver detalhes
|
|
|
In 15-10-2010 on Portal MJ of 18-10-2010 reduction of
capital Clique para ver detalhes
|
|
|
In 31-12-2009 on Portal MJ of 04-01-2010 increase of
capital Clique para ver detalhes
|
|
|
In 30-12-2008 on Portal MJ of 30-12-2008 social change |
|
|
In 30-12-2008 on Portal MJ of 15-01-2009 increase of
capital Clique para ver detalhes
|
Capital
|
|
The Capital is 4.400.000,00 , divided in 880000 shares ,
with a nominal value of 5,00 |
|
|
with the following shareholders |
|
HOZAR PORTUGAL-COMERCIO DE VESTUARIO SA |
|
|
Shareholders / Partners
Companies
|
|
|
|
|
|
|
|
NAME |
HOZAR PORTUGAL-COMERCIO DE VESTUARIO SA |
|
Funtion |
Shareholder |
|
Address |
Rua da Lionesa - Centro Empresarial da Lionesa, G-32 |
|
Locality |
LECA DO BALIO |
|
Telephone |
229051600 |
|
Fax |
229051659 |
|
E-Mail |
hozar@mail.telepac.pt |
|
C.A.E. |
46421-Comércio por grosso de vestuário e de acessórios |
Special Information
|
|
Event |
General Description |
|
Additional |
A titular tem 18 lojas espalhadas por todo o país |
Activities
|
|
Line of Business |
Percentage |
|
Comércio por grosso de vestuário e acessórios |
100% |
|
|
|
Type of Clients |
Retailers/Public |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
100% |
|
|
Trade Marks
|
|
Red Oak |
Head Office and Installations
|
|
Head office and installations shared Rua da Lionesa,
Centro Empresarial da Lionesa, G6, sala 11, LECA BALIO, 4465-671, LECA DO
BALIO, Tel:229013200 |
|
Incidents |
|
Legal
Actions |
||
|
Date: 24-06-2011 |
Judicial District Matosinhos - Tribunal do Trabalho |
|
|
Amount: 2.653,73 Euro |
Type: Acçăo de Processo Comum |
|
|
Author: Sandra Patrícia Ferreira da Rocha |
|
|
|
Process: 622/11.4TTMTS |
|
|
|
|
||
|
Observations: 1º Juízo |
||
|
|
||
|
Date: 25-03-2011 |
Judicial District Fafe - Tribunal Judicial |
|
|
Amount: 5.762,38 Euro |
Type: Especial Cump.Obrig. Pecuniarias DL 269/98 |
|
|
Author: Massa Insolvente de Ormijeans Confecçơes, Lda. |
|
|
|
Process: 42704/11.1YIPRT |
|
|
|
|
||
|
Observations: 2º Juízo |
||
|
|
||
|
Date: 13-07-2010 |
Judicial District Lisboa - Juízos Cíveis |
|
|
Amount: 6.848,08 Euro |
Type: Especial Cump.Obrig. Pecuniarias DL 269/98 |
|
|
Author: Rádio XXI, Lda. |
|
|
|
Process: 67796/10.7YIPRT |
|
|
|
|
||
|
Observations: 8º Juízo - 2ª Secçăo |
||
|
|
||
|
Date: 01-07-2010 |
Judicial District Matosinhos - Tribunal Judicial |
|
|
Amount: 8.135,00 Euro |
Type: Especial Cump.Obrig. Pecuniarias DL 269/98 |
|
|
Author: Cecoa-Centro de Formaçăo Profissional Para O
Comercio e Afins |
|
|
|
Process: 84311/10.5YIPRT |
|
|
|
|
||
|
Observations: 6º Juízo Cível |
||
|
|
||
|
Date: 09-06-2010 |
Judicial District Matosinhos - Tribunal Judicial |
|
|
Amount: 7.924,84 Euro |
Type: Executiva Comum |
|
|
Author: Caixa Económica Montepio Geral |
|
|
|
Process: 3836/10.0TBMTS |
|
|
|
|
||
|
Observations: 5º Juízo Cível |
||
|
|
||
|
Date: 26-04-2010 |
Judicial District Matosinhos - Tribunal Judicial |
|
|
Amount: 6.529,87 Euro |
Type: Executiva Comum |
|
|
Author: Barclays Bank, Plc |
|
|
|
Process: 2774/10.1TBMTS |
|
|
|
|
||
|
Observations: 3º Juízo Cível |
||
|
|
||
Business Concept
|
|
Consulted sources say that the subject is struggling with financial
difficulties and has been delaying its payments and commercial commitments,
so the use of caution in credit connections with this company is recommended.
|
Financial Demonstration SNC
|
||
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2010 |
|
|
||
|
Closing Date |
31-12-2010 |
31-12-2009 |
-- |
Variaçăo
(%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current assets |
|
|||
|
Tangible fixed assets |
2.692.283,85 |
2.864.157,37 |
|
(6,00) |
|
Intangible assets |
2.606.106,67 |
2.951.939,02 |
|
(11,72) |
|
Deferred tax assets |
1.339.859,53 |
971.933,75 |
|
37,86 |
|
Total |
6.638.250,05 |
6.788.030,14 |
|
(2,21) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
2.762.770,04 |
2.067.236,34 |
|
33,65 |
|
Costumers |
407.875,85 |
259.397,82 |
|
57,24 |
|
State and other public entities |
17.835,74 |
228.330,18 |
|
(92,19) |
|
Shareholders/partners |
|
770.072,94 |
|
|
|
Other accounts receivable |
133.928,57 |
221.274,11 |
|
(39,47) |
|
Deferrals |
122.779,28 |
174.786,73 |
|
(29,75) |
|
Cashier and bank deposits |
78.821,56 |
261.133,01 |
|
(69,82) |
|
Total |
3.524.011,04 |
3.982.231,13 |
|
(11,51) |
|
TOTAL ASSET |
10.162.261,09 |
10.770.261,27 |
|
(5,65) |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
4.400.000,00 |
4.900.000,00 |
|
(10,20) |
|
Net retained |
(27.338,80) |
(1.242.840,14) |
|
(97,80) |
|
Total |
4.372.661,20 |
3.657.159,86 |
|
19,56 |
|
Net income for the period |
(1.163.741,70) |
(1.684.498,66) |
|
(30,91) |
|
TOTAL OF SHAREHOLDERS FUNDS |
3.208.919,50 |
1.972.661,20 |
|
62,67 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Financing obtained |
1.831.481,20 |
2.178.109,86 |
|
(15,91) |
|
Total |
1.831.481,20 |
2.178.109,86 |
|
(15,91) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
3.095.129,14 |
3.698.941,06 |
|
(16,32) |
|
State and other public entities |
604.964,05 |
382.020,56 |
|
58,36 |
|
Shareholders/partners |
300.000,00 |
1.206.000,00 |
|
(75,12) |
|
Financing obtained |
761.911,46 |
846.768,59 |
|
(10,02) |
|
Other payable accounts |
359.855,74 |
485.760,00 |
|
(25,92) |
|
Total |
5.121.860,39 |
6.619.490,21 |
|
(22,62) |
|
TOTAL LIABILITIES |
6.953.341,59 |
8.797.600,07 |
|
(20,96) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
10.162.261,09 |
10.770.261,27 |
|
(5,65) |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
7.418.387,99 |
5.916.740,58 |
|
25,38 |
|
Operating government grants |
6.671,69 |
1.584,23 |
|
321,13 |
|
Cost of goods sold and materials consumed |
3.808.176,39 |
2.954.515,70 |
|
28,89 |
|
Suppliers and external services |
2.225.987,78 |
2.334.758,12 |
|
(4,66) |
|
Personnel costs |
1.707.110,82 |
1.840.598,66 |
|
(7,25) |
|
Other income and gains |
45.764,83 |
16.571,62 |
|
176,16 |
|
Other expenses and losses |
69.085,67 |
37.900,06 |
|
82,28 |
|
Result before depreciation, financing costs and taxes |
(339.536,15) |
(1.232.876,11) |
|
(72,46) |
|
Expenses/reversals of depreciation and amortization |
695.121,69 |
661.351,65 |
|
5,11 |
|
Impairment of investments depreciable/amortizable
(losses/reversals) |
50.483,34 |
|
|
|
|
Operating result (before financing costs and taxes) |
(1.085.141,18) |
(1.894.227,76) |
|
(42,71) |
|
Interest and similar income obtained |
|
1.548,61 |
|
|
|
interest and similar expenses incurred |
439.866,83 |
310.606,33 |
|
41,62 |
|
Net before taxes |
(1.525.008,01) |
(2.203.285,48) |
|
(30,78) |
|
Income tax of the period |
(361.266,31) |
(518.786,82) |
|
(30,36) |
|
Net profit for the period |
(1.163.741,70) |
(1.684.498,66) |
|
(30,91) |
|
|
|
Closing Date |
31-12-2010 |
31-12-2009 |
-- |
|
|
|
|
|||
|
|
|
|||
|
|
(0,363) |
(0,854) |
|
|
|
Assets Profitability |
(0,107) |
(0,176) |
|
|
|
|
(0,157) |
(0,285) |
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
20,068 |
16,002 |
|
|
|
|
0,73 |
0,549 |
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
2,115 |
1,609 |
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
0,688 |
0,602 |
|
|
|
|
0,149 |
0,289 |
|
|
|
|
0,015 |
0,039 |
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
0,316 |
0,183 |
|
|
|
|
0,461 |
0,224 |
|
|
|
|
0,737 |
0,752 |
|
|
|
|
0,808 |
1,533 |
|
|
|
|
0,571 |
1,104 |
|
|
|
|
0,737 |
0,752 |
|
|
|
|
1,752 |
0,906 |
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
(3,327) |
(1,564) |
|
|
|
|
0,712 |
0,86 |
|
|
|
|
(2,369) |
(1,345) |
|
|
Financial Elements
|
|
|
31-12-2009 |
|
|
Intangible Assets |
2.951.939,00 |
|
|
Tangible Assets |
2.864.157,00 |
|
|
Stocks |
2.067.236,00 |
|
|
Short Term Receivable |
1.350.904,00 |
|
|
Banks and Cash |
261.133,00 |
|
|
Accruals and Deferrals |
1.274.891,00 |
|
|
Total Assets |
10.770.260,00 |
|
|
Shareholder's Funds |
1.972.661,00 |
|
|
Medium and Long Term Payable |
2.178.110,00 |
|
|
Short Term Payable |
6.392.111,00 |
|
|
Accruals and Deferrals |
227.380,00 |
|
|
Total Liabilities and Shareholder's Funds |
10.770.262,00 |
|
|
Cost of Goods and Consumable Materials |
2.954.516,00 |
|
|
Outside Supplies and Services |
2.334.758,00 |
|
|
Personnel Costs |
1.840.599,00 |
|
|
Sales |
5.916.741,00 |
|
Comparatives POC
|
|
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
Net Sales |
|
3.916.019,00 |
5.916.741,00 |
|
Net Income For the Year |
(167.204,00) |
(1.075.636,00) |
(1.684.499,00) |
|
Current Assets |
359.387,00 |
3.160.033,00 |
4.954.164,00 |
|
Short Term Payables |
521.824,00 |
7.806.525,00 |
6.392.111,00 |
|
Cash Flow |
(162.437,00) |
(4.646.492,00) |
(1.437.947,00) |
|
Total Assets |
409.903,00 |
9.778.340,00 |
10.770.260,00 |
|
Total Liabilities |
527.108,00 |
8.761.182,00 |
8.797.601,00 |
|
Shareholders Funds |
(117.204,00) |
1.017.160,00 |
1.972.661,00 |
|
Personnel Costs |
60.456,00 |
847.074,00 |
1.840.599,00 |
Ratios POC
|
|
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
FINANCIAL SITUATION |
|
|
|
|
General Liquidity |
0,69 |
0,40 |
0,78 |
|
Immediate Liquidity |
0,62 |
0,22 |
0,45 |
|
Financial Autonomy |
(0,29) |
0,10 |
0,18 |
|
Solvency |
(0,22) |
0,12 |
0,22 |
|
RENTABILITY |
|
|
|
|
Sales Rentability |
|
(27,47)
% |
(28,47)
% |
|
Sales Rate Increase |
|
|
51,09
% |
|
EFFICIÊNCY |
|
|
|
|
Assets Turnover |
|
0,40 |
0,55 |
Balance Sheet and Income Statement
|
||
|
Balance Sheet |
||
|
CoinEURO |
|
Date31-12-2009 |
|
|
||
|
|
Gross
Assets |
Depreciations
/ Provisions |
Net
Assets |
|
Intangible Assets |
|
Subtotal |
3.552.454,00 |
600.515,00 |
2.951.939,00 |
|
Tangible Assets |
|
Subtotal |
3.348.400,00 |
484.243,00 |
2.864.157,00 |
|
Stocks |
|
Subtotal |
2.067.236,00 |
|
2.067.236,00 |
|
Short Term Receivable |
|
Subtotal |
1.350.904,00 |
|
1.350.904,00 |
|
Bank Deposits and Cash |
|
Cash |
40.794,00 |
|
40.794,00 |
|
Bank Deposites |
220.339,00 |
|
220.339,00 |
|
Subtotal |
261.133,00 |
|
261.133,00 |
|
Accruals and Deferrals |
|
Accrued Income |
128.171,00 |
|
128.171,00 |
|
Deferred Cost |
1.146.720,00 |
|
1.146.720,00 |
|
Subtotal |
1.274.891,00 |
|
1.274.891,00 |
|
|
|
Total Assets |
11.855.018,00 |
1.084.758,00 |
10.770.260,00 |
|
Shareholders Funds and
Liabilities |
|
Shareholders Funds |
|
Capital |
4.900.000,00 |
|
|
Treasury Stock: |
|
|
|
Reserves : |
|
|
|
Net Retained |
(1.242.840,00) |
|
|
Net Income For the Year |
(1.684.499,00) |
|
|
Total |
1.972.661,00 |
|
|
Short Term Payable |
|
Bank Loans |
697.254,00 |
|
|
Supliers Fixed Asset |
385.884,00 |
|
|
State and Other Public Bodies |
382.020,00 |
|
|
Other Creditors |
22.011,00 |
|
|
Trade Creditors |
1.119.103,00 |
|
|
Trade Notes Payable |
2.579.838,00 |
|
|
Group Companies |
1.206.000,00 |
|
|
Subtotal |
6.392.111,00 |
|
|
Medium and Long Term Payable |
|
Bank Loans |
1.877.263,00 |
|
|
Adv. For Clients |
300.847,00 |
|
|
Subtotal |
2.178.110,00 |
|
|
Accruals and Deferrals |
|
Accrued Charges |
227.380,00 |
|
|
Subtotal |
227.380,00 |
|
|
TOTAL LIABILITIES |
8.797.601,00 |
|
|
TOTAL LIABILITIES AND SHAREHOLDERS FUNDS |
10.770.262,00 |
|
|
Income Statement |
|
Costs and Losses |
|
Cost of Materials Consumed and Goods Sold: |
|
|
|
Subtotal |
2.954.516,00 |
|
|
Outside Supplies and Services |
2.334.758,00 |
|
|
Personnel Costs |
|
|
|
Subtotal |
1.840.599,00 |
|
|
Depreciation |
661.352,00 |
|
|
Subtotal |
661.352,00 |
|
|
Other Operating Costs |
29.285,00 |
|
|
Int. and Similar Costs: |
|
|
|
Subtotal |
310.606,00 |
|
|
Ext. Costs and Losses |
8.615,00 |
|
|
Taxation Over Income |
518.787,00 |
|
|
Net Income For the Year |
(1.684.499,00) |
|
|
Income and Profits |
|
Sales of : |
|
|
|
Products |
5.916.741,00 |
|
|
Subtotal |
5.916.741,00 |
|
|
Other Operating Income and Gains |
1.584,00 |
|
|
Subtotal |
1.584,00 |
|
|
Trading Securities Income |
|
|
|
Int. and Similar Costs |
|
|
|
Other |
8.027,00 |
|
|
Extra Income and Gains |
10.093,00 |
|
|
Net Income For the Year |
(1.684.499,00) |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.46 |
|
|
1 |
Rs.86.27 |
|
Euro |
1 |
Rs.69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.