MIRA
INFORM REPORT
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Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
TECNICAS REUNIDAS SA INITEC PLANTAS
INDUSTRIALES SA UTE HAWIYAH LEY 18-1982 |
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Registered Office : |
Calle Maria De Portugal, 9 – 11, 28050 Madrid |
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Country : |
Spain |
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Date of Incorporation : |
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Legal Form : |
Companies Temporary Union |
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Line of Business : |
Temporal union between companies |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Closed |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Spain |
A2 |
A2 |
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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 |
Spain - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, after almost 15 years of above average GDP growth, the Spanish
economy began to slow in late 2007 and entered into a recession in the second
quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend,
and by another 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in
Spain''s economic growth reflected a significant decline in construction amid
an oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain
concerned that Madrid may need to bail out more troubled banks. The Bank of
Spain, however, is seeking to boost confidence in the financial sector by
pressuring banks to come clean about their losses and consolidate into stronger
groups.
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Source : CIA |
Company name
TECNICAS REUNIDAS
SA INITEC PLANTAS INDUSTRIALES SA UTE HAWIYAH LEY 18-1982
CIF/NIF: U84523216
Company situation: Active
Answer to the data
in your request
Concerning your request, according to information received in the Administration Department of Tecnicas Reunidas SA, the joint venture, is finished, since mid 2009.
EXECUTIVE SUMMARY
Identification
Current Business Name: TECNICAS REUNIDAS SA INITEC PLANTAS
INDUSTRIALES SA UTE HAWIYAH LEY 18-1982
Other names: NO
Current Address: CALLE MARIA DE PORTUGAL, 9
- 11
Telephone number: 915871000 Fax: 915871137
Trade Risk
Incidents: NO
R.A.I.: NO
Financial Information
Balance sheet latest sales : For its legal form
the subject has no obligation to present its financial Mercantile Register.
Fund: It does not proceed to provide this kind of information due to the legal
form of the subject
Employees : This information is not available
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 01/12/2005
Activity: Temporal union between companies
NACE 2009 CODE: 9499
International Operations: No business relationships registered
Other Complementary Information
Latest act published in BORME: For its legal form the subject has no
obligation to be registered nor to present its financial statement in the
Mercantile Register, even if, exceptionally, could have had some proceedings
published in BORME for this kind of legal form.
Latest press article: No press articles registered for this
company
Bank Entities: There are
The date when this report was last updated is 07/09/2012.
The information contained in this report has been investigated and
contrasted on 07/09/2012
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
05/09/2012 09:09:01
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
For its legal form the subject has no obligation to present its financial Mercantile Register.
company ADDRESSES
Business address 
Current Legal Seat Address:
CALLE MARIA DE PORTUGAL, 9 - 11
28050 MADRID
Characteristics of
the current address
Type of establishment: office
Owners: shared
Owners Description: CON TECNICAS REUNIDAS
Local Situation: secondary
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Summary
Operative Board Members : 1 (latest change: 18/05/2007)
Functional
Managers
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POSITION |
NAME AND SURNAME |
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Manager |
ALAVA, JESUS |
FINANCIAL LINKS
Direct
Shareholders
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
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TECNICAS REUNIDAS, SOCIEDAD ANONIMA |
A28092583 |
50,00 |
OWN SOURCES |
06/09/2012 |
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INITEC PLANTAS INDUSTRIALES SA |
A84105196 |
15,00 |
OWN SOURCES |
06/09/2012 |
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There are 2 direct financial links through shareholders
registered
BUSINESS INFORMATION
Constitution
Incorporation date: 01/12/2005
Activity
Activity: Temporal union between companies
NACE 2009 CODE: 9499
NACE 2009 Activity: Activities of other membership organisations
n.e.c.
Works in progress
Type of works: Obra de Gas Expansion en la Planta de Hawiyah en el
Reino de Arabia Saud
Adjudicating entity: Arabian American Oil Company Staff (Aramco).
empresa estata
Works Budget: 300.000.000 Euros
Works ending date: 01/10/2008
Employees
This information is not available
Banks
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ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
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MADRID |
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There are 1 bank entities registered
LEGAL STRUCTURE
Constitution Data
Register Date: 01/12/2005
Current structure
data
Legal form: Companies Temporary Union
Fund: It does not proceed to provide this kind of information due to the legal
form of the subject
Legal Aspects
Obligation to fill in Financial Statements: NO
Chamber census: YES (2010)
B.O.R.M.E.
(Official Gazette
of the Mercantile Register)
For its legal form the subject has no obligation to be registered nor to present its financial statement in the Mercantile Register, even if, exceptionally, could have had some proceedings published in BORME for this kind of legal form.
Press articles
No press articles registered for this company
FINANCIAL INFORMATION
MODEL BALANCE
SHEET
As it has not been possible to obtain financial information of the requested
company we do hereby detail a model balance sheet of the same sector with the
characteristics of the company.
Assets
Figures given in €
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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B) FIXED ASSETS |
12.904,03 |
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I. Incorporation costs |
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II. Intangible fixed assets |
12.904,03 |
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III. Tangible fixed assets |
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IV. Financial fixed assets |
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V. Own Shares |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
165,61 |
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D) CURRENT ASSETS |
31.717,93 |
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I. Shareholders by required outlays |
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II. Stocks |
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III. Debtors |
25.815,87 |
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IV. Temporary financial investment |
157,45 |
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V. Short-term own shares |
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VI. Treasury |
5.744,61 |
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VII. Periodification adjustments |
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TOTAL ASSETS (A + B + C + D) |
44.787,57 |
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Source or application Excess |
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Liabilities
Figures given in €
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A) EQUITY |
34.134,35 |
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I. Issued Capital |
60.079,60 |
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II. Issue premium |
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III. Revaluation reserve |
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IV. Reserves |
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Capital adjustments in Euros |
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Sundry reserves |
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V. Results from previous years |
-33.523,62 |
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VI. Profit and Losses |
7.578,37 |
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VII. Dividend paid during the year |
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VIII. Own shares for capital reduction |
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B) DEFERRED INCOME |
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C) PROVISIONS FOR LIABILITIES AND EXPENSES |
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D) LONG TERM LIABILITIES |
2.340,35 |
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E) SHORT TERM LIABILITIES |
8.312,87 |
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F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
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LIABILITIES (A + B + C + D + E + F) |
44.787,57 |
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Change of Working Capital |
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Items of the
Profit and Loss Account
Figures given in €
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A) EXPENSES (A.1 a A.15) |
18.627,57 |
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A.1. Operating costs |
403,08 |
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A.2. Labour cost |
1.643,35 |
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Wages |
1.242,23 |
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Social security expenses |
401,12 |
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A.3. Assets Amortization |
3.519,36 |
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A.4. Variation in provision for current
assets and bad debt losses |
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A.5. Other operating costs |
9.302,03 |
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A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
10.737,69 |
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A.6. Financial expenses and similar |
511,87 |
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Debts with related companies |
511,87 |
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Debts with associated companies |
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Other companies debts |
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Losses from financial investments |
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A.7. Variation in financial investment
provision |
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A.8. Negative change difference |
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A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
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A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
10.695,89 |
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A.9. Variation in provision in fixed
assets |
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A.10. Losses in fixed assets |
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A.11. Losses from own shares and bonds |
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A.12. Extraordinary charges |
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A.13. Other exercises’ expenses and losses |
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A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
130,36 |
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A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
10.826,25 |
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A.14. Corporate Taxes |
3.247,88 |
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A.15. Other taxes |
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A.VI. EXERCISE RESULT (PROFIT)
(A.V-A.14-A.15) |
7.578,37 |
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B) INCOMES (B.1 to B.8) |
26.205,94 |
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B.1. Operating income |
25.605,51 |
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Net Turnover |
25.605,51 |
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Other operating income |
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B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
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B.2. Financial Income |
470,07 |
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From affiliated companies |
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From associated companies |
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Other |
470,07 |
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Gains from investments |
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B.3. Positive change difference |
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B.II. NEGATIVE FINANCIAL RESULTS
(A.6+A.7+A.8-B.2-B.3) |
41,80 |
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B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
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B.4. B.9. Gains from disposal of fixed
assets |
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B.5. Gains from dealing in own shares |
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B.6. Paid in surplus |
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B.7. Extraordinary income |
130,36 |
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B.8. Other year’s income and profits |
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B.IV. NEGATIVE EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
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B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
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B.VI. EXERCISE RESULTS (LOSS)
(B.V+A.14+A.15) |
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ADDITIONAL INFORMATION
Consulted Sources
INTERNET
Telephone directory: PÁGINAS AMARILLAS
Administración.
This company has been consulted was last displayed on 08/08/2012,
3 times in the last quarter and 57 total times.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
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UK Pound |
1 |
Rs.88.49 |
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Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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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.