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Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN NUGGET LEDERWAREN VERTRIEBS GMBH |
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Registered Office : |
Bahnhofstr. 4 D 55595 Weinsheim |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
HRB 3299 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of leather goods, luggage, giftware and advertising articles |
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No. of Employees : |
4 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
GERMANY - ECONOMIC OVERVIEW
The German economy - the fifth
largest economy in the world in PPP terms and Europe's largest - is a leading
exporter of machinery, vehicles, chemicals, and household equipment and
benefits from a highly skilled labor force. Like its Western European
neighbors, Germany faces significant demographic challenges to sustained
long-term growth. Low fertility rates and declining net immigration are
increasing pressure on the country's social welfare system and necessitate
structural reforms. Reforms launched by the government of Chancellor Gerhard
SCHROEDER (1998-2005), deemed necessary to address chronically high
unemployment and low average growth, contributed to strong growth in 2006 and
2007 and falling unemployment. These advances, as well as a government
subsidized, reduced working hour scheme, help explain the relatively modest
increase in unemployment during the 2008-09 recession - the deepest since World
War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew
by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to
rebounding manufacturing orders and exports - increasingly outside the Euro
Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a
reflection of the worsening euro-zone financial crisis and the financial burden
it places on Germany as well as falling demand for German exports. Domestic
demand is therefore becoming a more significant driver of Germany's economic
expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and
tax cuts introduced in Chancellor Angela MERKEL's second term increased
Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax
revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A
constitutional amendment approved in 2009 limits the federal government to
structural deficits of no more than 0.35% of GDP per annum as of 2016.
Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel
announced in May 2011 that eight of the country's 17 nuclear reactors would be
shut down immediately and the remaining plants would close by 2022. Germany
hopes to replace nuclear power with renewable energy. Before the shutdown of
the eight reactors, Germany relied on nuclear power for 23% of its energy and
46% of its base-load electrical production.
Source
: CIA
Golden Nugget
Lederwaren Vertriebs GmbH
Company
Status: active
Bahnhofstr. 4
D 55595 Weinsheim
Telephone:06758/8973
Telefax: 06758/8562
Homepage:
www.gn-lederwaren.de
E-mail: golden-nugget@t-online.de
DE169372030
06/656/1845/1
LEGAL FORM Private
limited company
Date of
foundation: 1994
Shareholders'
agreement: 05.12.1994
Registered
on: 16.03.1995
Commercial
Register: Local court 55543 Bad
Kreuznach
under: HRB
3299
EUR 75,000.00
Benno Schneider
Bahnhofstr. 4
D 55595 Weinsheim
born: 21.08.1963
Share: EUR 75,000.00
Manager:
Benno Schneider
Bahnhofstr. 4
D 55595 Weinsheim
having sole power of
representation
born: 21.08.1963
Marital status: married
Sectors
46493 Wholesale of leather goods, luggage,
giftware and advertising articles
Payment
experience: within agreed terms
Negative
information:We have no negative information at hand.
Balance sheet
year: 2010
Type of
ownership: Tenant
Address Bahnhofstr. 4
D 55595 Weinsheim
Land register
documents were not available.
SPARKASSE
RHEIN-NAHE, BAD KREUZNACH
Sort. code:
56050180, BIC: MALADE51KRE
Turnover: 2010 EUR 2,000,000.00
Ac/ts
receivable:
EUR 1,098,535.00
Liabilities: EUR 777,990.00
Employees: 4
- Freelancer:
4
The aforementioned
business figures may partly be estimated
information based
on average values in the line of business.
Balance sheet
ratios 01.01.2010 - 31.12.2010
Equity ratio
[%]: 47.42
Liquidity
ratio: 1.76
Return on total
capital [%]: 7.11
Balance sheet
ratios 01.01.2009 - 31.12.2009
Equity ratio
[%]: 32.74
Liquidity
ratio: 1.33
Return on total
capital [%]: 12.61
Balance sheet
ratios 01.01.2008 - 31.12.2008
Equity ratio
[%]: 30.00
Liquidity
ratio: 0.95
Return on total
capital [%]: 8.00
Balance sheet
ratios 01.01.2007 - 31.12.2007
Equity ratio
[%]: 23.55
Liquidity
ratio: 0.88
Return on total
capital [%]: 5.24
Equity ratio
The equity ratio
indicates the portion of the equity as compared
to the total capital.
The higher the equity ratio, the better the
economic stability
(solvency) and thus the financial autonomy of
a company.
Liquidity ratio
The liquidity
ratio shows the proportion between adjusted
receivables and
net liabilities. The higher the ratio, the lower
the company's
financial dependancy from external creditors.
Return on total
capital
The return on
total capital shows the efficiency and return on
the total capital
employed in the company. The higher the return
on total capital,
the more economically does the company work
with the invested
capital.
Type of balance
sheet: Company balance sheet
Financial
year: 01.01.2010 - 31.12.2010
ASSETS EUR 1,435,622.65
Fixed assets EUR 103,949.50
Intangible assets EUR 0.50
Other / unspecified intangible
assetsEUR 0.50
Tangible assets EUR 103,949.00
Other / unspecified tangible assets EUR
103,949.00
Current assets EUR 1,329,650.76
Stocks EUR 228,041.39
Accounts receivable EUR 1,098,534.51
Other debtors and assets EUR 1,098,534.51
Liquid means EUR 3,074.86
Remaining other assets EUR 2,022.39
Accruals (assets) EUR 2,022.39
LIABILITIES EUR 1,435,622.65
Shareholders' equity EUR 531,464.15
Capital EUR 75,000.00
Subscribed capital (share capital) EUR 75,000.00
Balance sheet profit/loss (+/-) EUR 456,464.15
Balance sheet profit / loss EUR 456,464.15
Provisions EUR 126,169.00
Liabilities EUR 777,989.50
Other liabilities EUR 777,989.50
Unspecified other liabilities EUR 777,989.50
Type of balance
sheet: Company balance sheet
Financial
year: 01.01.2009 - 31.12.2009
ASSETS EUR 1,311,222.92
Fixed assets EUR 139,546.73
Intangible assets EUR 0.50
Other / unspecified intangible
assetsEUR 0.50
Tangible assets EUR 116,796.50
Other / unspecified tangible assets EUR
116,796.50
Financial assets EUR 22,749.73
Other / unspecified financial assets
EUR 22,749.73
Current assets EUR 1,169,653.80
Stocks EUR 172,116.38
Accounts receivable EUR 994,093.07
Other debtors and assets EUR 994,093.07
Liquid means EUR 3,444.35
Remaining other assets EUR 2,022.39
Accruals (assets) EUR 2,022.39
LIABILITIES EUR 1,311,222.92
Shareholders' equity EUR 429,334.29
Capital EUR 75,000.00
Subscribed capital (share capital) EUR 75,000.00
Balance sheet profit/loss (+/-) EUR 354,334.29
Balance sheet profit / loss EUR 354,334.29
Provisions EUR 131,684.09
Liabilities EUR 750,204.54
Other liabilities EUR 750,204.54
Unspecified other liabilities EUR 750,204.54
There may have been
some changes since our last research took
place. Therefore, a
freshly researched report will follow
shortly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.59 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.