MIRA INFORM REPORT

 

 

Report Date :

21.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MEDICAL MEASUREMENT SYSTEMS B.V.

 

 

Registered Office :

Colosseum 25, 7521PV Enschede

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.06.1993

 

 

Com. Reg. No.:

06070224

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of medical and surgical equipment and orthopaedic appliances

 

 

No. of Employees :

43 employees

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Netherlands

a1

A1

 

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

 

 

 

 

CONTACT INFORMATION

 

 

 

Company name

Medical Measurement Systems B.V.

Tradename

Medical Measurement Systems B.V.

Address

Colosseum 25

 

7521PV Enschede

 

Netherlands

Mail address

Postbus 580

 

7500AN Enschede

 

Netherlands

Telephone number

0534803700

Telefax number

0534803701

E-mail address

info@mmsinternational.com

Website

www.mmsinternational.com  

VAT number / RSIN

801930200

 

 

COMPANY INFORMATION

 

Handelsregisternummer 06070224

Registered in                             Chamber of commerce Oost Netherlands

First registration                         10-06-1993

Act of foundation                        28-05-1993

Date of constitution                    01-08-1989

Continuation date                       28-05-1993

Legal form                                 Besloten Vennootschap (Limited Company)

Place of constitution                   Enschede

Issued capital                            18.151,21

Paid up capital                           18.151,21

 

 

NACE-code                   Manufacture of medical and surgical equipment and orthopaedic appliances (331023)

SBI-code                       Manufacture of irradiation, electromedical and electrotherapeutic equipment (266)

Manufacture of medical instruments, orthopedic and prosthetic products (325029)

Wholesale of medical and dental instruments (46462)

 

Formal objective             De productie van en de handel in en de ont- wikkeling van en het onderhouden van

medische equipment en toebehoren

 

Import                           Afghanistan, Norway, Sweden

 

Employees

Total: 43

 

 

Employees according to CoC

Chamber of commerce: 43

 

 

Bookyear

2012

2011

2010

Number

43

50

52

Change

-14,00%

-3,85%

-1,89%

COMPANY STRUCTURE

 

 

 

Shareholder

Lacidem Holding B.V.

 

Colosseum 25

 

7521PV ENSCHEDE

 

Netherlands

 

KvK: 06062669

 

Active since: 28-05-1993

 

Percentage: 100.00%

Holding company

Lacidem Holding B.V.

 

Colosseum 25

 

7521PV ENSCHEDE

 

KvK: 06062669

Subsidiary

B.V. Medical Measurement Systems USA

 

Colosseum 25

 

7521PV ENSCHEDE

 

KvK: 06091573

Affiliated companies

Bocom Systems BV

 

Haaksbergerstraat 410

 

7545GA ENSCHEDE

 

KvK: 06049199

 

Lacidem Real estate B.V.

 

Colosseum 25

 

7521PV ENSCHEDE

 

KvK: 06088813

 

Bank                                         ABN Amro Bank NV

Account number: 59.22.19.704

 

ING Bank NV

Account number: 66.51.24.139

 

Real estate                                lease

 

 

MANAGEMENT

 

 

 

Management

Lacidem Holding B.V.

 

Colosseum 25

 

7521PV ENSCHEDE

 

Netherlands

 

KvK: 06062669

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 28-05-1993

 

S.M. Huisman - Homburg

 

Sjoukje Martina

 

Authorization: Limited authorization (max: € 1)

 

Position: Proxy

 

Date appointed: 08-07-2008

 

Date of birth: 03-02-1976

 

 

PAYMENT INFORMATION

 

Payment experiences                 Payments are regular, no complaints are known

Payments                                 Based on multiple payment experiences up to € 7.500

l                                                                                                                 Quarter: 1 2012: 47 Average days

l                                                                                                                 Quarter: 2 2012: 50 Average days

l                                                                                                                 Quarter: 3 2012: 53 Average days

l                                                                                                                 Quarter: 4 2012: 51 Average days

 

 

invoices

current quarter

2012 Q3

2012 Q2

2012 Q1

Total

56

100%

21.932

21.836

22.028

22.457

Within terms

28

52,7%

11.548

10.841

12.255

13.905

Delayed 0 - 30

28

47,3%

10.384

10.995

9.773

8.552

Delayed 31 - 60

 

 

 

 

 

 

 

 

FINANCIAL INFORMATION

 

Publication financial statement                Annual accounts 2010 are published on 07-02-2012

Annual accounts 2009 are published on 09-02-2011

Annual accounts 2008 are published on 03-03-2010

Annual accounts 2007 are published on 12-01-2009

Type of publication                                 Corporate

Publication                                            Publication according to obligations by law

 

Core figures

Book year

2010

2009

2008

Quick ratio

1,17

1,48

1,57

Current ratio

1,59

2,08

2,30

Nett workingcapital / Balance total

0,35

0,48

0,52

Capital and reserves / Balance total

0,36

0,50

0,57

Capital and reserves / Fixed assets

5,49

7,06

7,62

Solvency

0,62

1,13

1,43

Nett workingcapital

1.712.871

2.259.415

2.603.000

Capital and reserves

1.795.733

2.360.881

2.864.000

Change capital and reserves

-23,94%

-17,57%

86,82%

change short term liabilities

38,48%

4,21%

-41,91%

Nett Turnover

 

 

9.983.000

Operating profit

2.847.359

2.740.481

1.855.000

Profitability operating profit

positive

positive

positive

 

 

Annual accounts                        The company is obligated to publish its annual accounts

 

Last annual accounts                 2010

 

Type of publication                     Corporate

 

Turnover                                    2008: 9.983.000

 

Gross profit                               2010: 7.367.037

2009: 7.024.284

 

Operating profit                          2010: 2.847.359

2009: 2.740.481

2008: 1.855.000

 

Result after taxes                       2010: 2.234.849

2009: 2.046.994

2008: 1.331.000

Tendency                                  Changeable

 

Tendency capital and reserves

 

 

Capital and reserves                   2010 1.795.733

Total debt                                  2010 3.136.192

Current ratio                              2010 1,59

Quick ratio                                2010 1,17

Nett workingcapital                     2010 1.712.871

 

Profitability                                More than sufficient

Solvency                                   Positive

Liquidity                                    Sufficient

Current- & Quickratio

 

 

 

 

BALANCE SHEET

 

BOOKYEAR

2010

2009

2008

End of bookyear

31-12-2010

31-12-2009

31-12-2008

Tangible assets

307.058

314.642

356.000

Financial assets

19.967

19.966

20.000

Fixed assets

327.025

334.608

376.000

 

Stocks and work in progress

1.220.729

1.257.776

1.459.000

Other amounts receivable

 

 

2.561.000

Accounts receivable

2.186.001

2.207.413

2.561.000

Liquid assets

1.198.170

882.683

587.000

Current assets

4.604.900

4.347.872

4.607.000

Total assets

4.931.925

4.682.480

4.983.000

 

Capital and reserves

1.795.733

2.360.881

2.864.000

Provisions

244.163

233.142

115.000

Other short term debts

 

1.756.360

1.492.000

Total short term debt

2.892.029

2.088.457

2.004.000

Total debt

3.136.192

2.321.599

2.119.000

Total Liabilities

4.931.925

4.682.480

4.983.000

 

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2010

2009

2008

Turnover

 

 

9.983.000

Nett Turnover

 

 

9.983.000

Gross profit

7.367.037

7.024.284

 

Wages employees

3.094.098

2.840.240

2.691.000

Depreciation and amortization

146.217

132.383

118.000

Raw materials

 

 

3.477.000

Other operating charges

1.279.363

1.311.180

1.841.000

Operating charges

4.519.678

4.283.803

8.127.000

Operating profit

2.847.359

2.740.481

1.855.000

Financial income

625

23.821

19.000

Financial charges

31.687

37.528

111.000

Financial result

-31.062

-13.707

-92.000

Result before taxes

2.816.297

2.726.774

1.764.000

Income taxes

581.448

679.780

433.000

Result after taxes

2.234.849

2.046.994

1.331.000

Nett result

2.234.849

2.046.994

1.331.000

 

 

Company structure

 

Lacidem Holding B.V. (06062669) ENSCHEDE

 

Bocom Systems BV (06049199)

ENSCHEDE

Subsidiary

 

Medical Measurement Systems B.V. (06070224)

Enschede Subsidiary (100%)

 

B.V. Medical Measurement Systems USA (06091573)

ENSCHEDE

Subsidiary (100%)

 

Lacidem Real estate B.V. (06088813)

ENSCHEDE

Subsidiary (100%)

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.91

UK Pound

1

Rs.87.38

Euro

1

Rs.70.24

 

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.