MIRA INFORM REPORT

 

 

Report Date :

09.10.2012

 

IDENTIFICATION DETAILS

 

Name :

CORRIEN EXPORTS B.V.

 

 

 

Registered Office :

Officiersweg 105 8162NR Epe

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

31.03.1999

 

 

Com. Reg. No.:

08046820

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Wholesale of used paper

 

 

No. of Employees :

2

 

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

(31.03.2011)

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

CONTACTINFORMATION

 

Company name                         Corrien Exports B.V.

Tradename                                Corrien Exports B.V.

Address                                    Officiersweg 105

8162NR Epe

Netherlands

Mail address                             Officiersweg 105

8162NR Epe

Netherlands

Telephone number                     0578629083

E-mail address                          info@corrienexports.com

Website                                    www.corrienexports.com

VAT number / RSIN                   807904120

 

 

COMPANY INFORMATION  

 

Handelsregisternummer

08046820

Registered in

Chamber of commerce Oost Netherlands

First registration

31-03-1999

Act of foundation

26-03-1999

Date of constitution

01-01-1987

Continuation date

26-03-1999

Legal form

Besloten Vennootschap

Place of constitution

Epe

Issued capital

18.151,21

Paid up capital                          18.151,21

 

NACE-code                               Wholesale of used paper (515732)

SBI-code                                  Wholesale of other used materials and waste materials (46779)

Formal objective                       De export en import van papier, (papier)pulp en papiermachines

 

Employees                               Total: 2

Employees according to CoC    Chamber of commerce: 2

 

Bookyear                                  2012                 2011                 2010

Number                                     2                      2                      1

Change                                     0,00%               100,00%           -50,00%

 

 

COMPANY STRUCTURE

 

Shareholder                              Qureshi Holding B.V.

Officiersweg 105

8162NR EPE

Netherlands

KvK: 08081233

Active since: 26-03-1999

Percentage: 100.00%

 

Holding company                      Qureshi Holding B.V.

Officiersweg 105

8162NR EPE

KvK: 08081233

 

Bank                                         ABN Amro Bank NV

 

Real estate

Privately-property owned

 

The real estate is checked at the land registration office

 

Object code: EPE EN OENE A 2928

 

Owner: MOHAMMED ARIF QURESHI

 

 

MANAGEMENT   

 

Management

M.A. Qureshi

 

Mohammed Arif

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 26-03-1999

 

Date of birth: 11-06-1948

 

 

PAYMENT INFORMATION   

 

Payment experiences

There are no payment experiences known

 

 

FINANCIAL INFORMATION

 

Publication financial statement               Annual accounts 2011 are published on 15-08-2012

Annual accounts 2010 are published on 25-05-2012

Annual accounts 2009 are published on 14-07-2010

Annual accounts 2008 are published on 26-05-2009

Annual accounts 2007 are published on 06-05-2009

Type of publication                               Corporate

Publication                                            Steady

 

CORE FIGURES

 

 

 

BOOKYEAR

2011

2010

2009

Quick ratio

8,91

205,89

37,82

Current ratio

8,91

205,89

37,82

Nett workingcapital / Balance total

0,88

0,99

0,97

Capital and reserves / Balance total

0,89

1,00

0,97

Capital and reserves / Fixed assets

126,12

125,60

116,26

Solvency

7,97

206,54

37,14

Nett workingcapital

1.842.096

1.816.153

1.652.957

Capital and reserves

1.856.819

1.830.729

1.667.298

Change capital and reserves

1,43%

9,80%

4,47%

change short term liabilities

2.527,81%

-80,25%

28,25%

 

 

Annual accounts                                    The company is obligated to publish its annual accounts

Last annual accounts                             2011

 

Tendency                                              Changeable

 

 

 

 

 

 

 

 

 

 

Capital and reserves                  2011 1.856.819

Total debt                                 2011 232.929

Current ratio                              2011 8,91

Quick ratio                                2011 8,91

Nett workingcapital                    2011 1.842.096

 

Profitability                               Just satisfactory

Solvency                                  More than sufficient

Liquidity                                    More than sufficient

 

Currency                                   Euro

 

 

BALANCE 

           

BOOKYEAR

2011

2010

2009

End of bookyear

31-12-2011

31-12-2010

31-12-2009

Tangible assets

1.537

1.390

1.155

Financial assets

13.186

13.186

13.186

Fixed assets

14.723

14.576

14.341

 

Accounts receivable

1.812.808

1.562.572

1.681.874

Liquid assets

262.217

262.445

15.972

Current assets

2.075.025

1.825.017

1.697.846

Total assets

2.089.748

1.839.593

1.712.187

 

Capital and reserves

1.856.819

1.830.729

1.667.298

Total short term debt

232.929

8.864

44.889

Total debt

232.929

8.864

44.889

Total Liabilities

2.089.748

1.839.593

1.712.187

 

 

Company structure

• Qureshi Holding B.V. (08081233) EPE

* Corrien Exports B.V. (08046820) Epe

Subsidiary (100%)

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.21

UK Pound

1

Rs.84.00

Euro

1

Rs.67.75

 

 

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.