MIRA INFORM REPORT

Report Date :

07.11.2012

IDENTIFICATION DETAILS

Name :	BEERNINK & BEERNINK B.V.
Registered Office :	Nijverheidsweg 9 6651KS Druten

Country :	Netherlands

Financials (as on) :	31.12.2009

Date of Incorporation :	06.09.1993

Com. Reg. No.:	10038355

Legal Form :	Besloten Vennootschap

Line of Business :	Wholesale of other non-food consumer goods

No. of Employees :	6

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Netherlands

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NETHERLANDS - ECONOMIC OVERVIEW

The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.

Source : CIA

CONTACTINFORMATION

Company name	Beernink & Beernink B.V.
Tradename	Beernink & Beernink B.V.
	Bear Design
Address	Nijverheidsweg 9
	6651KS Druten
	Netherlands
Mail address	Nijverheidsweg 9
	6651 KS Druten
	Netherlands
Telephone number	0487517278
Telefax number	0487517459
E-mail address	beernink@novi.net
Website	unknown
VAT number / RSIN	801249582

MANAGEMENT

Management	C.A.W. Beernink
	Cornelis Adriaan Wilhelmus
	Authorization: Jointly authorized
	Position: Manager
	Date appointed: 25-08-1993
	Date of birth: 26-11-1938
	W.J.A. Beernink
	Willem Jan Alexander
	Authorization: Jointly authorized
	Position: Manager
	Date appointed: 25-08-1993
	Date of birth: 16-05-1965

PAYMENT INFORMATION

Payment experiences	Payments are regular
Payments	Based on multiple payment experiences up to € 1.000
	Quarter: 1 2012: 84 Average days
	Quarter: 2 2012: 68 Average days
	Quarter: 3 2012: 72 Average days
	Quarter: 4 2012: 50 Average days

FINANCIAL INFORMATION

Publication financial statement

Annual accounts 2009 are published on 14-03-2011

Annual accounts 2008 are published on 22-01-2010

Annual accounts 2007 are published on 22-01-2010

Type of publication

Publication

Corporate

Although the statutory deadline, the company's annual documents are not yet published in the register of the Chamber of Commerce.

CORE FIGURES
BOOKYEAR	2009	2008	2007
Quick ratio	0,90	1,00	1,02
Current ratio	1,18	1,29	1,30
Nett workingcapital / Balance total	0,14	0,20	0,20
Capital and reserves / Balance total	0,24	0,33	0,34
Capital and reserves / Fixed assets	2,44	2,44	2,37
Solvency	0,31	0,49	0,52
Nett workingcapital	153.878	230.000	245.000
Capital and reserves	260.466	388.000	424.000
Change capital and reserves	-32,87%	-8,49%
change short term liabilities	5,71%	-2,71%

Annual accounts Although the statutory deadline, the company's annual documents are not yet published in the register of the Chamber of Commerce.

Last annual accounts 2009

Tendency Declining

Capital and reserves 2009 260.466

Total debt 2009 834.066

Current ratio 2009 1,18

Quick ratio 2009 0,90

Nett workingcapital 2009 153.878

Profitability Negative

Solvency Reasonable

Liquidity Moderate

Currency Euro

BALANCE

BOOKYEAR	2009	2008	2007
End of bookyear	31-12-2009	31-12-2008	31-12-2007
Tangible assets	106.588	159.000	179.000
Fixed assets	106.588	159.000	179.000

Stocks and work in progress	238.500	233.000	225.000
Accounts receivable	571.964	635.000	684.000
Liquid assets	177.480	151.000	147.000
Current assets	987.944	1.019.000	1.056.000
Total assets	1.094.532	1.178.000	1.235.000

Capital and reserves	260.466	388.000	424.000
Provisions			0
Other short term debts		789.000	811.000
Total short term debt	834.066	789.000	811.000
Total debt	834.066	789.000	811.000
Total Liabilities	1.094.532	1.178.000	1.235.000

Company structure

• Beernink & Beernink B.V. (10038355) Druten

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.59
UK Pound	1	Rs.87.31
Euro	1	Rs.69.86

INFORMATION DETAILS

Report Prepared by :

PRL

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.

Handelsregisternummer	10038355
Registered in	Chamber of commerce Midden-Netherlands
First registration	06-09-1993
Act of foundation	25-08-1993
Date of constitution	01-10-1992
Continuation date	25-08-1993
Legal form	Besloten Vennootschap
Place of constitution	Druten

Issued capital	18.151,21
Paid up capital	18.151,21

NACE-code	Wholesale of other non-food consumer goods n.e.c. (51487)
SBI-code	Wholesale of other household items (464992)
	Wholesale of other household goods nec (464999)
Formal objective	Handelsonderneming lederwaren, huishoudelijke artikelen en aanverwante produkten
Import	Asia
Export	Belgium, Germany

Employees	Total: 6
Employees according to CoC	Chamber of commerce: 6
Bookyear	2012	2009	2007
Number	6	6	6
Change	0,00%	0,00%	0,00%

Real estate	Privately-property owned
	The real estate is checked at the land registration office
	Object code: DRUINN C 3668
	Owner: CORNELIS ADRIAAN WILHELMUS BEERNINK