|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
CIMC
ENRIC TANK AND PROCESS B.V. |
|
|
|
|
Registered Office : |
Kapitein Grantstraat 8 7821AR Emmen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
16.07.1976 |
|
|
|
|
Com. Reg. No.: |
04023289 |
|
|
|
|
Legal Form : |
Besloten Vennootschap |
|
|
|
|
Line of Business : |
Manufacture of Fabricated Metal Products |
|
|
|
|
No. of Employees : |
4 |
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
|
Company
name |
CIMC
Enric Tank and Process B.V. |
|
Tradename |
CIMC
Enric Tank and Process B.V. |
|
Address |
Kapitein
Grantstraat 8 |
|
|
7821AR
Emmen |
|
|
Netherlands |
|
Mail
address |
Postbus
2044 |
|
|
7801CA
Emmen |
|
|
Netherlands |
|
Telephone
number |
0591614888 |
|
Telefax
number |
0591617234 |
|
E-mail
address |
|
|
Website |
|
|
VAT
number / RSIN |
003883255 |
Handelsregisternummer 04023289
Registered in Chamber
of commerce Noord-Netherlands
Act of foundation 16-07-1976
Date of constitution 16-07-1976
Last change in statutes
05-09-2012
Legal form Besloten
Vennootschap
Place of constitution Emmen
Capital EUR
20.000.000
Issued capital
EUR 14.038.200
Paid up capital EUR
14.038.200
|
NACE-code |
MANUFACTURE OF FABRICATED METAL PRODUCTS (28) |
|
|
Manufacture of tanks (2821) |
|
SBI-code |
Manufacture of fabricated metal products, except machinery
and equipment (25) |
|
|
Machining (2562) |
|
Formal
objective |
Beheermaatschappij |
Employees Total:
4
Bookyear 2010
2009
Number
4 2
Change 100,00%
Shareholder
Vela Holding B.V.
Katwijkerlaan 75
2641PD PIJNACKER
Netherlands
KvK: 27325314
Active since: 06-08-2009
Percentage: 100.00%
Ultimate parent company CIMC
Burg B.V.
Katwijkerlaan 75
2641PD PIJNACKER
KvK: 27301519
Holding company Vela
Holding B.V.
Katwijkerlaan 75
2641PD PIJNACKER
KvK: 27325314
Subsidiary Holvrieka
Nirota B.V.
Lorentzstraat 7
8606JP Sneek
KvK: 01031986
Noordkoel B.V.
Kapitein Grantstraat 8
7821AR EMMEN
KvK: 04024458
Holvrieka Ido B.V.
Kapitein Grantstraat 8
7821AR Emmen
KvK: 04038297
Affiliated companies CIMC
Enric Tank container Sales Europe B.V.
Katwijkerlaan 75
2641PD PIJNACKER
KvK: 52224457
|
Bank |
ING Bank NV |
|
|
Account number: 864826 |
|
|
Banque Artesia NV |
|
|
Account number: 63.99.21.345 |
|
|
ING Bank NV |
|
|
Account number: 66.43.11.628 |
Real estate Group-property owned
Management Burg
Industries B.V.
Katwijkerlaan 75
2641PD Pijnacker
Netherlands
KvK: 27229637
Authorization: Fully authorized
Position: Manager
Date appointed: 01-05-1999
K.R.R. Brink
Ko Roelof Reint
Authorization: Fully authorized
Position: Manager
Date appointed: 01-06-2008
Date of birth: 30-06-1966
Other directorships:
- Manager: Holvrieka Ido B.V. - Emmen (KvK:
04038297)
Payment experiences According
to terms
Auditor KPMG
Accountants N.V.
Publication financial statement Annual
accounts 2010 are published on 02-02-2012
Annual accounts 2009 are published on
16-02-2011
Annual accounts 2008 are published on
04-02-2010
Annual accounts 2007 are published on
29-12-2008
Type of publication Consolidated
Annual accounts van CIMC
Enric Tank and Process B.V.
Kapitein Grantstraat 8
7821AR Emmen
KvK: 04023289
Publication
Publication according to obligations by law
|
BOOKYEAR |
2010 |
2009 |
2008 |
|
Quick ratio |
0,68 |
0,64 |
0,99 |
|
Current ratio |
0,68 |
0,64 |
1,65 |
|
Nett
workingcapital / Balance total |
-0,18 |
-0,21 |
0,35 |
|
Capital
and reserves / Balance total |
0,42 |
0,40 |
0,41 |
|
Capital
and reserves / Fixed assets |
0,69 |
0,65 |
4,06 |
|
Solvency |
0,73 |
0,68 |
0,74 |
|
Nett
workingcapital |
-6.966.000 |
-7.393.000 |
25.355.000 |
|
Capital
and reserves |
15.890.000 |
14.072.000 |
29.744.000 |
|
Change
capital and reserves |
12,92% |
-52,69% |
47,23% |
|
change
short term liabilities |
5,51% |
-47,29% |
11,26% |
|
Nett
Turnover |
|
|
121.323.000 |
|
Operating
profit |
|
|
13.086.000 |
|
Profitability
operating profit |
|
|
positive |
|
|
|
|
|
Annual accounts The
company is obligated to publish its annual accounts
Last annual accounts
2010
Type of publication Consolidated
Turnover 2008:
121.323.000
2007: 92.429.000
2006: 78.670.000
2005: 55.733.000
Gross profit 2006:
20.312.000
Operating profit 2008:
13.086.000
2007: 11.960.000
2006: 1.976.000
2005: 1.883.000
Result after taxes 2010:
2.818.000
2008: 9.542.000
2007: 8.702.000
2006: 1.802.000
2005: 1.635.000
Tendency Changeable
Tendency capital and reserves
Changeable
Capital and
reserves 2010 15.890.000
Total debt 2010
21.935.000
Current ratio 2010
0,68
Quick ratio 2010
0,68
Nett workingcapital 2010
-6.966.000
Profitability More
than sufficient
Solvency Positive
Liquidity Negative
|
BOOKYEAR |
2010 |
2009 |
2008 |
|
End
of bookyear |
31-12-2010 |
31-12-2009 |
31-12-2008 |
|
Other
intangible assets |
|
|
46.000 |
|
Intangible
assets |
|
|
46.000 |
|
Tangible
assets |
2.559.000 |
2.940.000 |
6.329.000 |
|
Financial
assets |
20.372.000 |
18.600.000 |
958.000 |
|
Fixed
assets |
22.931.000 |
21.540.000 |
7.333.000 |
|
|
|||
|
Stocks
and work in progress |
|
|
25.909.000 |
|
Trade
debtors |
|
|
17.107.000 |
|
Other
amounts receivable |
|
|
15.298.000 |
|
Accounts
receivable |
4.094.000 |
3.443.000 |
32.405.000 |
|
Liquid
assets |
10.800.000 |
9.883.000 |
6.347.000 |
|
Current
assets |
14.894.000 |
13.326.000 |
64.661.000 |
|
Total
assets |
37.825.000 |
34.866.000 |
71.994.000 |
|
|
|||
|
Capital
and reserves |
15.890.000 |
14.072.000 |
29.744.000 |
|
Provisions |
75.000 |
75.000 |
2.183.000 |
|
other
long term debts |
|
|
761.000 |
|
Long
term liabilities |
|
|
761.000 |
|
Other
short term debts |
|
|
39.306.000 |
|
Total
short term debt |
21.860.000 |
20.719.000 |
39.306.000 |
|
Total
debt |
21.935.000 |
20.794.000 |
42.250.000 |
|
Total
Liabilities |
37.825.000 |
34.866.000 |
71.994.000 |
|
|
|||
|
PROFIT
& LOSS ACCOUNT |
|
|
|
|
BOOKYEAR |
2010 |
|
2008 |
|
Turnover |
|
|
110.553.000 |
|
Other
operating income |
|
|
21.540.000 |
|
Nett
Turnover |
|
|
121.323.000 |
|
Operating
charges |
|
|
108.237.000 |
|
Operating
profit |
|
|
13.086.000 |
|
Financial
income |
|
|
80.000 |
|
Financial
charges |
|
|
290.000 |
|
Financial
result |
|
|
-210.000 |
|
Result
participations |
1.749.000 |
|
|
|
Result
before taxes |
1.749.000 |
|
12.876.000 |
|
Income
taxes |
-1.069.000 |
|
3.334.000 |
|
Result
after taxes |
2.818.000 |
|
9.542.000 |
|
Nett
result |
2.818.000 |
|
9.542.000 |
Modifications Issued
capital changed to EUR 14.038.200,00 Paid up capital changed to EUR
14.038.200,00.
Per 5-9-2012 statutes modified. Per 5-9-2012
name changed to: CIMC Enric Tank and
Process B.V..
Issued capital changed to EUR 6.038.200,00
Paid up capital changed to EUR
6.038.200,00.
• CIMC Burg B.V. (27301519) PIJNACKER
o Burg
Industries B.V. (27229637) Pijnacker Subsidiary
■
Beheermaatschappij
"Burg" B.V. (27209332) Pijnacker
Subsidiary (100%)
■
Hobur
Twente B.V. (06058223)
ALMELO
Subsidiary (100%)
■
Burg
Service B.V. (23040831) Moerdijk
Subsidiary (100%)
■ "Burg" Factory van
Wegtransportmiddelen B.V. (27218549) Pijnacker
Subsidiary
Calamity: Default
■ Exploitatiemaatschappij Intraprogres B.V. (27222032)
PIJNACKER
Subsidiary (100%)
■ Burg Carrosserie (27230700)
PIJNACKER
Subsidiary (100%)
■
Burg
Trailer Service B.V. (27351420)
PIJNACKER
Subsidiary (100%)
■
Burg
Silvergreen B.V. (52944832) Pijnacker
Subsidiary
■
B.V.
Trailer Leasing Company 't.L.C. ' (27233069)
PIJNACKER
Subsidiary (100%)
■ Burg Trailers B.V. (27302469)
PIJNACKER
Subsidiary
■ Burgers
Carrosserie B.V. (34044970)
AALSMEER
Management relation o Cooperative Vela Holding UA (27325041)
PIJNACKER
Management relation
■
Vela
Holding B.V. (27325314)
PIJNACKER
Subsidiary
■ CIMC Enric Tank and Process B.V. (04023289)
Emmen
Subsidiary
■ Holvrieka Nirota B.V. (01031986) Sneek
Subsidiary (100%)
■ Noordkoel B.V. (04024458)
EMMEN
Subsidiary (100%)
■ Holvrieka Ido B.V. (04038297) Emmen
Subsidiary (100%)
■ CIMC
Enric Tank container Sales Europe B.V. (52224457)
PIJNACKER
Subsidiary
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.95 |
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.