MIRA
INFORM REPORT
|
Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MIAMOP-EXPORTACAO
IMPORTACAO LDA |
|
|
|
|
|
|
Registered Office : |
Rua Quinta Santa Marta, Lote 12, loja |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
|
|
Date of Incorporation : |
05.02.1998 |
|
|
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
|
|
Line of Business : |
Wholesale
of other food products |
|
|
|
|
|
|
No. of Employees : |
Not Available |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Portugal |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PORTUGAL - ECONOMIC OVERVIEW
Portugal has become a diversified
and increasingly service-based economy since joining the European Community -
the EU's predecessor - in 1986. Over the past two decades, successive
governments have privatized many state-controlled firms and liberalized key
areas of the economy, including the financial and telecommunications sectors.
The country qualified for the Economic and Monetary Union (EMU) in 1998 and
began circulating the euro on 1 January 2002 along with 11 other EU members.
The economy had grown by more than the EU average for much of the 1990s, but
fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in 2010.
But GDP fell again in 2011, as the government implemented austerity measures,
including a 5% public salary cut, a 2% increase in the value-added tax, and an
extraordinary tax on yearend bonuses to comply with conditions of an EU-IMF
financial rescue package agreed to in May 2011. GDP per capita stands at
roughly two-thirds of the EU-27 average. A rigid labor market has been an
obstacle to greater productivity and growth. Portugal also has been
increasingly overshadowed by lower-cost producers in Central Europe and Asia as
a destination for foreign direct investment. Portugal's low competitiveness,
low growth prospects, and high levels of public debt have made it vulnerable to
bond market turbulence. The government reduced the budget deficit from 10.1% of
GDP in 2009 to 4.5% in 2011, an achievement made possible only by the
extraordinary revenues obtained from the one-time transfer of bank pension funds
to the social security system. Investors, however, continue to express concern
about the government's ability to achieve future budget deficit targets and
obtain foreign financing to cover its sovereign debt obligations when the
EU-IMF financing program expires in 2013. Without the option for stimulus
measures, the government is focusing instead on boosting exports and
implementing labor market and other structural reforms to try to raise GDP
growth and increase Portugal's competitiveness - which, over time, may help
mitigate investor concerns.
Source
: CIA
Identification
|
Name |
MIAMOP-EXPORTACAO IMPORTACAO LDA |
|
|
|
V.A.T. Number / NIF |
504087282 |
|
|
|
Address |
Rua Quinta Santa Marta, Lote 12, loja E |
|
|
|
Locality |
ALGES |
Postal Code |
1495-171-ALGES |
|
Municipality |
OEIRAS |
District |
LISBOA |
|
Telephone |
214121829, 214120921 |
|
|
|
Fax |
214120921 |
|
|
|
C.A.E.(Rev 3) |
46382- Wholesale of other food products n.d |
|
|
|
All the amounts are express in Euros, otherwise you
will be advised |
Summary
|
Legal Form |
Private Limited Company |
|
|
|
Constitution |
05-02-1998 |
V.A.T. Number / NIF |
504087282 |
|
Capital |
50.000,00 |
|
|
|
Sales in : 31-12-2010 |
8.996.352,52 |
Shareholders Funds in: 31-12-2010 |
357.309,56 |
|
Condition |
Normal |
Tendency |
Stationary |
|
Financing |
Guaranteed |
Payments |
Good |
|
Actual Condition |
In activity |
|
|
Banks
and Financial Institutions
|
MILLENNIUM BCP |
Almirante Reis - Lisboa |
Historical
|
Registed on the Register Record Office of Oeiras with the Register
Number 504087282 in 11-07-2008 |
|
Constitution celebrated in 05-02-1998 published on Diário da República
number 78 of 02-04-1998 |
|
To oblige the company it is necessary 1 signatures |
Changes
to Society
|
Capital
|
The Capital is 50.000,00 |
|
|
with the following distribution |
|
YOLANDA FRANCISCO KAPUNGA |
10.000,00 |
20% |
|
DEOLINDA FRANCISCO |
2.500,00 |
5% |
|
MONTEIRO PINTO |
37.500,00 |
75% |
Biographies
|
Name |
YOLANDA FRANCISCO KAPUNGA |
|
Funtion |
Partner |
|
Address |
Estrada Academia da Força Aérea, LT.21,
Casa 18, Algueirăo |
|
Locality |
MEM MARTINS |
|
|
|
|
Name |
DEOLINDA FRANCISCO |
|
Funtion |
Partner |
|
Civil State |
Married |
|
Consort |
Monteiro Pinto |
|
|
|
|
Name |
MONTEIRO PINTO |
|
Funtion |
Partner |
|
Civil State |
Married |
|
Consort |
Deolinda Francisco |
|
Professional Connections |
The subject has connections with the following company (ies) |
|
|
OLEOGA LDA as Managing-Partner with a participation of 30.000,00 , in
a capital of 50.000,00 . |
Activities
|
Line of Business |
Percentage |
|
Wholesale of other food products |
100% |
|
Type of Clients |
Private Companies |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
100% |
|
|
Head
Office and Installations
|
Had head office Estrada da Academia da
Forca Aerea, lote 21, MEM MARTINS, 2725-012, MEM MARTINS |
|
Head office and installations Rua Quinta
Santa Marta, Lote 12, loja E, ALGES, 1495-171, ALGES, Tel:214121829, Fax:214120921 |
Incidents
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
|
4809/11.1TTLSB |
|
Acçăo de
Processo Comum |
59.996,56 |
Lisboa -
Tribunal do Trabalho |
|
|
Business Concept
|
Consulted sources say that the subject has been respecting its
payments and commercial commitments, so credit connections with this company
are recommended. |
Financial Demonstration SNC
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2010 |
|
|
||
|
Closing Date |
31-12-2010 |
31-12-2009 |
-- |
Variaçăo (%) |
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current assets |
|
|||
|
Tangible fixed assets |
98.009,64 |
106.031,85 |
|
(7,57) |
|
Total |
98.009,64 |
106.031,85 |
|
(7,57) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
735.644,45 |
985.644,45 |
|
(25,36) |
|
Costumers |
45.317,26 |
1.187.208,08 |
|
(96,18) |
|
Advances to suppliers |
326.866,51 |
|
|
|
|
State and other public entities |
63.382,32 |
37.746,91 |
|
67,91 |
|
Other accounts receivable |
1.685.937,23 |
92.313,49 |
|
1.726,32 |
|
Deferrals |
|
350,00 |
|
|
|
Cashier and bank deposits |
970.184,17 |
2.526.873,99 |
|
(61,61) |
|
Total |
3.827.331,94 |
4.830.136,92 |
|
(20,76) |
|
TOTAL ASSET |
3.925.341,58 |
4.936.168,77 |
|
(20,48) |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
50.000,00 |
50.000,00 |
|
|
|
Other shareholders funds instruments |
100.000,00 |
100.000,00 |
|
|
|
Legal reserves |
11.079,24 |
7.025,07 |
|
57,71 |
|
Net retained |
148.103,09 |
71.073,85 |
|
108,38 |
|
Other shareholders funds changes |
27.303,78 |
27.303,78 |
|
|
|
Total |
336.486,11 |
255.402,70 |
|
31,75 |
|
Net income for the period |
20.823,45 |
81.083,41 |
|
(74,32) |
|
TOTAL OF SHAREHOLDERS FUNDS |
357.309,56 |
336.486,11 |
|
6,19 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Financing obtained |
|
3.026.364,71 |
|
|
|
Total |
|
3.026.364,71 |
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
406.781,71 |
1.517.279,41 |
|
(73,19) |
|
State and other public entities |
22.189,31 |
36.354,26 |
|
(38,96) |
|
Financing obtained |
3.026.364,71 |
|
|
|
|
Other payable accounts |
112.696,29 |
|
|
|
|
Deferrals |
|
19.684,28 |
|
|
|
Total |
3.568.032,02 |
1.573.317,95 |
|
126,78 |
|
TOTAL LIABILITIES |
3.568.032,02 |
4.599.682,66 |
|
(22,43) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
3.925.341,58 |
4.936.168,77 |
|
(20,48) |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
8.996.352,52 |
6.723.481,51 |
|
33,80 |
|
Cost of goods sold and materials consumed |
8.352.562,02 |
5.900.540,93 |
|
41,56 |
|
Suppliers and external services |
385.173,84 |
559.887,32 |
|
(31,21) |
|
Personnel costs |
134.540,21 |
112.383,03 |
|
19,72 |
|
Other income and gains |
64.155,09 |
|
|
|
|
Other expenses and losses |
15.484,17 |
16.972,33 |
|
(8,77) |
|
Result before depreciation, financing costs and taxes |
172.747,37 |
133.697,90 |
|
29,21 |
|
Expenses/reversals of depreciation and amortization |
8.022,21 |
16.888,54 |
|
(52,50) |
|
Operating result (before financing costs and taxes) |
164.725,16 |
116.809,36 |
|
41,02 |
|
Interest and similar income obtained |
|
8.085,76 |
|
|
|
interest and similar expenses incurred |
128.734,49 |
126,77 |
|
101.449,65 |
|
Net before taxes |
35.990,67 |
124.768,35 |
|
(71,15) |
|
Income tax of the period |
15.167,22 |
43.684,94 |
|
(65,28) |
|
Net profit for the period |
20.823,45 |
81.083,41 |
|
(74,32) |
Financial Elements
|
|
31-12-2009 |
|
|
Tangible Assets |
106.032,00 |
|
|
Stocks |
985.644,00 |
|
|
Short Term Receivable |
1.380.406,00 |
|
|
Banks and Cash |
2.498.573,00 |
|
|
Accruals and Deferrals |
350,00 |
|
|
Total Assets |
4.971.005,00 |
|
|
Shareholder's Funds |
336.486,00 |
|
|
Short Term Payable |
4.614.835,00 |
|
|
Accruals and Deferrals |
19.684,00 |
|
|
Total Liabilities and Shareholder's Funds |
4.971.005,00 |
|
|
Cost of Goods and Consumable Materials |
5.900.541,00 |
|
|
Outside Supplies and Services |
559.887,00 |
|
|
Personnel Costs |
112.383,00 |
|
|
Sales |
6.723.482,00 |
|
Comparatives
POC
|
|
|
31-12-2008 |
31-12-2009 |
|
Net Sales |
|
3.777.275,00 |
6.723.482,00 |
|
Net Income For the Year |
|
50.947,00 |
81.083,00 |
|
Current Assets |
|
245.178,00 |
4.864.973,00 |
|
Short Term Payables |
|
97.870,00 |
4.614.835,00 |
|
Cash Flow |
|
147.308,00 |
250.138,00 |
|
Total Assets |
|
375.427,00 |
4.971.005,00 |
|
Total Liabilities |
|
112.694,00 |
4.634.519,00 |
|
Shareholders Funds |
|
255.403,00 |
336.486,00 |
|
Personnel Costs |
|
74.924,00 |
112.383,00 |
Ratios
POC
|
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
FINANCIAL SITUATION |
|
|
|
|
General Liquidity |
|
2,51 |
1,05 |
|
Immediate Liquidity |
|
2,51 |
0,84 |
|
Financial Autonomy |
|
0,68 |
0,07 |
|
Solvency |
|
2,27 |
0,07 |
|
RENTABILITY |
|
|
|
|
Sales Rentability |
|
1,35 % |
1,21 % |
|
Sales Rate Increase |
|
|
78,00 % |
|
EFFICIÊNCY |
|
|
|
|
Assets Turnover |
|
10,06 |
1,35 |
Balance
Sheet and Income Statement
|
Balance Sheet |
||
|
CoinEURO |
|
Date31-12-2009 |
|
|
||
|
|
Gross Assets |
Depreciations /
Provisions |
Net Assets |
|
Tangible Assets |
|
Subtotal |
175.211,00 |
69.179,00 |
106.032,00 |
|
Stocks |
|
Subtotal |
985.644,00 |
|
985.644,00 |
|
Short Term Receivable |
|
Subtotal |
1.380.406,00 |
|
1.380.406,00 |
|
Bank Deposits and Cash |
|
Cash |
810,00 |
|
810,00 |
|
Bank Deposites |
2.497.763,00 |
|
2.497.763,00 |
|
Subtotal |
2.498.573,00 |
|
2.498.573,00 |
|
Accruals and Deferrals |
|
Deferred Cost |
350,00 |
|
350,00 |
|
Subtotal |
350,00 |
|
350,00 |
|
|
|
Total Assets |
5.040.184,00 |
69.179,00 |
4.971.005,00 |
|
Shareholders Funds and Liabilities |
|
Shareholders
Funds |
|
Capital |
50.000,00 |
|
|
Treasury Stock: |
|
|
|
Other Sup. |
100.000,00 |
|
|
Reserves : |
|
|
|
Free |
7.025,00 |
|
|
Net Retained |
98.378,00 |
|
|
Net Income For the Year |
81.083,00 |
|
|
Total |
336.486,00 |
|
|
Short Term Payable |
|
Bank Loans |
3.000.000,00 |
|
|
State and Other Public Bodies |
58.238,00 |
|
|
Other Creditors |
12.952,00 |
|
|
Trade Creditors |
1.517.279,00 |
|
|
Shareholders |
26.365,00 |
|
|
Subtotal |
4.614.835,00 |
|
|
Accruals and Deferrals |
|
Accrued Charges |
19.684,00 |
|
|
Subtotal |
19.684,00 |
|
|
TOTAL LIABILITIES |
4.634.519,00 |
|
|
TOTAL LIABILITIES AND SHAREHOLDERS FUNDS |
4.971.005,00 |
|
|
Income Statement |
|
Costs and Losses |
|
Cost of Materials Consumed and Goods Sold: |
|
|
|
Subtotal |
5.900.541,00 |
|
|
Outside Supplies and Services |
559.887,00 |
|
|
Personnel Costs |
|
|
|
Subtotal |
112.383,00 |
|
|
Depreciation |
16.889,00 |
|
|
Subtotal |
16.889,00 |
|
|
Other Operating Costs |
61,00 |
|
|
Int. and Similar Costs: |
|
|
|
Subtotal |
127,00 |
|
|
Ext. Costs and Losses |
16.912,00 |
|
|
Taxation Over Income |
43.685,00 |
|
|
Net Income For the Year |
81.083,00 |
|
|
Income and Profits |
|
Sales of : |
|
|
|
Products |
6.697.382,00 |
|
|
Services Provided |
26.100,00 |
|
|
Subtotal |
6.723.482,00 |
|
|
Trading Securities Income |
|
|
|
Int. and Similar Costs |
|
|
|
Other |
8.086,00 |
|
|
Net Income For the Year |
81.083,00 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
|
|
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.71.13 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.