MIRA INFORM REPORT

Report Date :

13.09.2012

IDENTIFICATION DETAILS

Name :	NIEUWLAAT TRADING B.V.

Registered Office :	De Wijper 18, 4726TG Heerle

Country :	Netherlands

Financials (as on) :	31.12.2011

Date of Incorporation :	01.01.1998

Com. Reg. No.:	2008877

Legal Form :	Besloten Vennootschap

Line of Business :	Wholesale of home furniture

No. of Employees :	No Available

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Netherlands

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	Nieuwlaat Trading B.V.
Tradename	Nieuwlaat Trading B.V.
	interieurfittings.nl
	Van Nieuwlaat
Address	De Wijper 18
	4726TG Heerle
	Netherlands
Mail address	De Wijper 18
	4726TG Heerle
	Netherlands
Telephone number	0165301922
Telefax number	0165304300
E-mail address	info@interieurbeslag.nl
Website	www.interieurbeslag.nl
VAT number / RSIN	806449792

MANAGEMENT

Management	A.H.J.M. Nieuwlaat
	Adrianus Hendricus Johanna Mar
	Authorization: Jointly authorized
	Position: Manager
	Date appointed: 25-03-1998
	Date of birth: 10-04-1949
	T.J. Nieuwlaat
	Thijs Jan
	Authorization: Jointly authorized
	Position: Manager
	Date appointed: 01-01-2005
	Date of birth: 05-07-1978

PAYMENT INFORMATION

Payment experiences

There are no payment experiences known

FINANCIAL INFORMATION

Publication financial statement	Annual accounts 2011 are published on 27-04-2012
	Annual accounts 2010 are published on 16-05-2011
	Annual accounts 2009 are published on 28-03-2011
	Annual accounts 2008 are published on 16-05-2011
	Annual accounts 2007 are published on 18-03-2009
Type of publication	Corporate
Publication	Steady

CORE FIGURES

BOOKYEAR	2011	2010	2009
Quick ratio	2,20	3,42	6,30
Current ratio	2,42	3,85	6,30
Nett workingcapital / Balance total	0,49	0,60	0,63
Capital and reserves / Balance total	0,66	0,79	0,88
Capital and reserves / Fixed assets	3,88	4,16	3,50
Solvency	1,91	3,75	7,42
Nett workingcapital	465.634	458.433	424.296
Capital and reserves	627.318	603.433	594.296
Change capital and reserves	3,96%	1,54%	16,76%
change short term liabilities	104,44%	100,76%	0,14%

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2011

Type of publication Corporate

Result after taxes 2011: 23.885

2010: 9.137

Tendency Changeable

Tendency capital and reserves

Capital and reserves 2011 627.318

Total debt 2011 328.814

Current ratio 2011 2,42

Quick ratio 2011 2,20

Nett workingcapital 2011 465.634

Profitability Nil

Solvency More than sufficient

Liquidity Sufficient

Current - & Quick Ratio

Currency Euro

BALANCE

BOOKYEAR	2011	2010	2009
End of bookyear	31-12-2011	31-12-2010	31-12-2009
Tangible assets	16.684
Financial assets	145.000	145.000	170.000
Fixed assets	161.684	145.000	170.000

Stocks and work in progress	70.000	70.000
Accounts receivable	487.803	405.733	362.580
Liquid assets	236.645	143.539	141.831
Current assets	794.448	619.272	504.411
Total assets	956.132	764.272	674.411

Capital and reserves	627.318	603.433	594.296
Total short term debt	328.814	160.839	80.115
Total debt	328.814	160.839	80.115
Total Liabilities	956.132	764.272	674.411

History

Management Per 01-01-2005 manager Thijs Jan Nieuwlaat appointed.

Modifications Per 1-1-2005 is the responsibility of manager Adrianus Hendricus Johanna Maria

Nieuwlaat changed..

Company structure

• Nieuwlaat Trading B.V. (20088771) Heerle

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.26
UK Pound	1	Rs.88.85
Euro	1	Rs.71.13

INFORMATION DETAILS

Report Prepared by :

PDT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.