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Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
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Name : |
BOLASCO IMPORT GMBH |
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Formerly Known As : |
BOLASCO Import-Markenvertrieb GmbH |
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Registered Office : |
Heidenkampsweg 73, D 20097 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
05.05.1976 |
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Com. Reg. No.: |
HRB 18486 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of fruit and vegetables |
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No. of Employees : |
20 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Germany |
A1 |
A1 |
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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 |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
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Source : CIA |
BOLASCO Import GmbH
Heidenkampsweg 73
D 20097 Hamburg
Telephone: 040/3330160
Telefax: 040/33301665
Homepage: www.bolasco.de
E-mail:
office@bolasco.de
DE811214377
LEGAL FORM Private limited company
Date of foundation: 1976
Shareholders'
agreement: 25.03.1976
Registered on: 05.05.1976
Commercial Register: Local
court 20355 Hamburg
under: HRB 18486
Share capital:
EUR 25,564.59
Horn & Samsche GmbH
Heidenkampsweg 73
D 20097 Hamburg
Legal form: Private limited company
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Registered on: 03.10.1983
Reg. data: 20355 Hamburg, HRB 31515
Michael Rund
Schusterberg 10
D 21385 Oldendorf
having sole power of representation
born: 06.09.1965
Profession: Businessman
Marital status: married
Manager:
Dirk Wilhelm Jacob Schmidt-Engelbertz
Eckerkamp 136
D 22391 Hamburg
born: 30.04.1970
Profession: Businessman
Manager:
Hans-Ulrich Bösch
D 20099 Hamburg
having sole power of representation
born: 15.06.1951
Marital status: unknown
Henning Brandt
D 20099 Hamburg
authorized to jointly represent the company
born: 22.08.1967
Further functions/participations
of Michael Rund (Manager)
Limited
partner:
Bösch Boden
Spies GmbH & Co. KG
Heidenkampsweg 73
D 20097
Hamburg
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Total
cap. EUR 40,000.00
contribution:
Share: EUR 9,600.00
Registered
on: 23.01.1987
Reg.
data: 20355 Hamburg, HRA 81805
Shareholder:
TUCAN
TECTRONIC GmbH
Heidenkampsweg 73
D 20097
Hamburg
Post Box:
10 07 49, D
20005 Hamburg
Legal form:
Private limited company
Share
capital: EUR 179,600.00
Share: EUR 29,700.00
Registered
on: 28.09.2000
Reg.
data: 20355 Hamburg, HRB 77215
Manager:
Horn &
Samsche GmbH
Heidenkampsweg 73
D 20097 Hamburg
Legal form:
Private limited company
Share
capital: EUR 25,564.59
Registered
on: 03.10.1983
Reg.
data: 20355 Hamburg, HRB 31515
Manager:
TUCAN
TECTRONIC GmbH
Heidenkampsweg 73
D 20097
Hamburg
Post Box:
10 07 49, D
20005 Hamburg
Legal form:
Private limited company
Share
capital: EUR 179,600.00
Registered
on: 28.09.2000
Reg.
data: 20355 Hamburg, HRB 77215
Further functions/participations
of Dirk Wilhelm Jacob Schmidt-Engelbertz (Manager)
Limited partner:
Bösch Boden
Spies GmbH & Co. KG
Heidenkampsweg 73
D 20097
Hamburg
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Total
cap. EUR 40,000.00
contribution:
Share: EUR 15,200.00
Registered
on: 23.01.1987
Reg.
data: 20355 Hamburg, HRA 81805
Shareholder:
TUCAN
TECTRONIC GmbH
Heidenkampsweg 73
D 20097
Hamburg
Post Box:
10 07 49, D
20005 Hamburg
Legal form:
Private limited company
Share
capital: EUR 179,600.00
Share: EUR 82,250.00
Registered
on: 28.09.2000
Reg.
data: 20355 Hamburg, HRB 77215
Manager:
Horn &
Samsche GmbH
Heidenkampsweg 73
D 20097 Hamburg
Legal form:
Private limited company
Share
capital: EUR 25,564.59
Registered
on: 03.10.1983
Reg. data: 20355 Hamburg, HRB 31515
Manager:
TUCAN
TECTRONIC GmbH
Heidenkampsweg 73
D 20097
Hamburg
Post Box:
10 07 49, D
20005 Hamburg
Legal form:
Private limited company
Share
capital: EUR 179,600.00
Registered
on: 28.09.2000
Reg.
data: 20355 Hamburg, HRB 77215
25.03.1976 - 13.06.1994 BOLASCO
Importagentur GmbH
Lippeltstr. 1
D 20097
Hamburg
Private
limited company
13.06.1994 - 04.01.2005 BOLASCO
Import-Markenvertrieb GmbH
Lippeltstr. 1
D 20097
Hamburg
Private
limited company
09.02.2005 - 10.08.2007 BOLASCO
Import GmbH
Lippeltstr. 1
D 20097
Hamburg
Private limited company
Secondary
industrial sector
46310 Wholesale of fruit and
vegetables
46389 Wholesale of food n.e.c.
96090 Other service activities
n. e. c.
Payment experience: within
periods customary in this trade
Negative information: We have
no negative information at hand.
Balance sheet year: 2009/2010
Type of ownership: Tenant
Address Heidenkampsweg 73
D 20097 Hamburg
Land register documents were not available.
Principal bank
COMMERZBANK, HAMBURG
Sort. code: 20040000, BIC: COBADEHHXXX
Turnover: 2010/2011 EUR 5,066,500.00
2011/2012 EUR
5,066,500.00
further
business figures:
Equipment: EUR 180,000.00
Ac/ts
receivable:
EUR 3,983,653.00
Liabilities: EUR 3,856,468.00
Employees:
20
The aforementioned business figures may partly be estimated information
based on average values in the line of business.
Balance
sheet ratios 01.04.2009 - 31.03.2010
Equity
ratio [%]: 17.49
Liquidity
ratio: 1.25
Balance
sheet ratios 01.04.2008 - 31.03.2009
Equity
ratio [%]: 17.20
Liquidity
ratio: 1.31
Equity ratio
The equity ratio indicates the portion of the equity as compared to the
total capital. The higher the equity ratio, the better the economic stability
(solvency) and thus the financial autonomy of a company.
Liquidity ratio
The liquidity ratio shows the proportion between adjusted receivables
and net liabilities. The higher the ratio, the lower the company's financial
dependancy from external creditors.
Type of balance
sheet: Company balance sheet
Financial year: 01.04.2009 - 31.03.2010
ASSETS EUR 5,274,603.04
Fixed
assets EUR 218,316.00
Intangible assets
EUR 1,856.00
Other / unspecified intangible assetsEUR 1,856.00
Financial assets EUR 216,460.00
Other / unspecified financial assets EUR 216,460.00
Current assets EUR 4,941,497.15
Stocks
EUR 296,483.34
Accounts receivable EUR 3,983,653.41
Other debtors and assets
EUR 3,983,653.41
Liquid means
EUR 661,360.40
Remaining other assets EUR 114,789.89
Accruals
(assets) EUR 114,789.89
LIABILITIES EUR 5,274,603.04
Shareholders' equity EUR 923,337.59
Capital
EUR 25,564.60
Subscribed capital (share capital)
EUR 25,564.60
Reserves
EUR 897,772.99
Retained earnings / revenue reserves EUR 897,772.99
Provisions EUR 494,796.63
Liabilities EUR 3,856,468.82
Other
liabilities EUR 3,856,468.82
Unspecified other liabilities
EUR 3,856,468.82
Type of balance
sheet: Company balance sheet
Financial year: 01.04.2008 - 31.03.2009
ASSETS EUR 3,781,628.00
Current assets EUR 3,713,403.00
Stocks
EUR 378,292.00
Accounts receivable
EUR 3,241,291.00
Liquid means
EUR 93,820.00
Remaining other assets EUR 68,225.00
Accruals (assets)
EUR 68,225.00
LIABILITIES EUR 3,781,628.00
Shareholders' equity EUR 650,565.00
Capital
EUR 25,565.00
Subscribed capital (share capital)
EUR 25,565.00
Reserves
EUR 625,000.00
Capital reserves
EUR 8,399.00
Retained earnings / revenue reserves EUR 616,601.00
Provisions EUR 569,722.00
Liabilities EUR 2,561,341.00
Inconsistent balance sheets:
Financial year published on
01.04.2007 - 31.03.2008 14.01.2009
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.97 |
|
UK Pound |
1 |
Rs.87.52 |
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Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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.