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Report Date : |
12.11.2012 |
IDENTIFICATION DETAILS
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Name : |
HMT ASIEN IMPORT LEDERWAREN
GROBHANDEL |
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Registered Office : |
Lärchenstr. 141 D 65933 Frankfurt |
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Country : |
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Date of Incorporation : |
01.11.2004 |
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Legal Form : |
Unregistered commercial enterprise |
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Line of Business : |
Wholesale of leather goods, luggage,
giftware and advertising articles |
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No. of Employees : |
1 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
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
HMT ASIEN IMPORT LEDERWAREN GROBHANDEL
Company Status: Active
Lärchenstr. 141
D 65933
Frankfurt
Telephone: 069/38013523
Telefax: 069/38013523
Business relations are permissible.
Unregistered commercial enterprise
Date of foundation: 01.11.2004
Proprietor:
Harpreet Singh
D 65795 Hattersheim
born: 07.10.1975
Marital status: unknown
Main industrial sector
46493
Wholesale of leather goods, luggage, giftware and advertising articles
Average risk of default: 3.3 %
Payment
experience: within agreed terms
Negative information: We have no negative information at hand.
Type of ownership: Tenant
Address Lärchenstr.
141
D 65933 Frankfurt
Land register documents were not available.
DEUTSCHE BANK FILIALE, FRANKFURT AM MAIN Sort.
code: 50070010, BIC: DEUTDEFFXXX
Financial year: 01.01.
- 31.12.
Turnover: 2010 EUR 125,000.00
2012 EUR 125,000.00
further business figures:
Equipment: EUR 7,000.00
Ac/ts receivable: EUR 15,500.00
Liabilities: EUR 47,500.00
Employees:
1
The aforementioned business figures may partly
be estimated information based on average values in the line of business.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.34 |
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1 |
Rs.86.97 |
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Euro |
1 |
Rs.69.42 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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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.