MIRA INFORM REPORT

 

 

Report Date :

26.09.2012

 

IDENTIFICATION DETAILS

 

Name :

STAROIL B.V.

 

 

 

Registered Office :

Wilhelminastraat 43 A 2011VK Haarlem

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

08.09.2008

 

 

Com. Reg. No.:

34311024

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Services activities incidental to oil and gas extraction excluding surveying

 

 

No. of Employees :

06 employees

 

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)

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

CONTACTINFORMATION          

 

Company name

Staroil B.V.

Tradename

Staroil B.V.

Address

Wilhelminastraat 43 A

 

2011VK Haarlem

 

Netherlands

Mail address

Wilhelminastraat 43 A

 

2011VK Haarlem

 

Netherlands

Telephone number

0235160300

Telefax number

0235312744

E-mail address

info@staroil.ch

Website

www.staroil.ch

VAT number / RSIN

819860578

 

History                                      KARTHUIZERSDWARSSTRAAT 32

1015 KP AMSTERDAM

Tot: 5-2-2009

 

 

COMPANY INFORMATION

 

Handelsregisternummer 34311024

Registered in                             Chamber of commerce Amsterdam

First registration                         08-09-2008

Act of foundation                        04-09-2008

Date of constitution                    04-09-2008

 

Legal form                                 Besloten Vennootschap (Limited Company)

Place of constitution                   Amsterdam

Capital                                      EUR 90.000

Issued capital                            EUR 18.000

Paid up capital                           EUR 18.000

 

NACE-code                               Services activities incidental to oil and gas extraction excluding surveying (1120)

Financial holding (65234)

SBI-code                                   Support activities for petroleum and natural gas extraction (091)

Support activities for petroleum and natural gas extraction (0910)

Wholesale of other machinery and equipment for trade and industry nec (466991)

Formal objective                         Het aangaan van industriële, financiële, logistieke en/of commerciële objective

Import                                       The whole world

Export                                       The whole world

 

Employees                                Total: 6

 

Bookyear                                 2010                             2009                             2008

Number                                     6                                  6                                  0

Change                                     0,00%                           0,00%

 

Bank                                         ING Bank NV

 

Real estate                                Lease

The real estate is checked at the land registration office

Object code: HAARLEM C 6103

Owner: B.V. NETHERLANDSS MONUMENINN BEZIT

 

 

MANAGEMENT

 

Management                             A. Hollebrand

Alexander

Authorization: Fully authorized

Position: Manager

Date appointed: 13-04-2011

Date of birth: 20-12-1954

 

G. Davidzon

Gert-Jan

Authorization: Fully authorized

Position: Proxy

Date appointed: 13-04-2011

Date of birth: 13-02-1979

 

V.B. Markov

Viatcheslav Borisovitch

Authorization: Fully authorized

Position: Proxy

Date appointed: 22-01-2010

Date of birth: 14-04-1970

 

 

PAYMENT INFORMATION   

 

Payment experiences

There are no payment experiences known

Payments

Based on multiple payment experiences up to € 1.000

 

Quarter: 4 2011: 60 Average days

 

Quarter: 1 2012: 46 Average days

 

Quarter: 2 2012: 59 Average days

 

Quarter: 3 2012: 66 Average days

 

 

FINANCIAL INFORMATION

 

Auditor                                                  PricewaterhouseCoopers

Publication financial statement                Annual accounts 2011 are published on 23-07-2012

Annual accounts 2010 are published on 31-08-2011

Annual accounts 2009 are published on 27-10-2010

Type of publication                                 Corporate

Publication                                            Steady

 

CORE FIGURES

 

 

 

BOOKYEAR

2011

2010

2009

Quick ratio

0,98

0,83

0,99

Current ratio

1,10

1,10

0,99

Nett workingcapital / Balance total

0,09

0,08

-0,01

Capital and reserves / Balance total

0,15

0,15

0,20

Capital and reserves / Fixed assets

2,46

2,26

0,95

Solvency

0,17

0,18

0,25

Nett workingcapital

3.148.824

2.301.000

-86.000

Capital and reserves

5.299.325

4.134.000

1.655.000

Change capital and reserves

28,19%

149,79%

 

change short term liabilities

32,22%

244,86%

 

Nett Turnover

213.478.275

148.279.000

7.152.000

Operating profit

1.807.104

4.118.000

-128.000

Profitability operating profit

positive

positive

negative

 

Annual accounts                                    The company is obligated to publish its annual accounts

Last annual accounts                             2011

 

Type of publication                                 Corporate

 

Turnover                                                2011: 213.478.275

2010: 148.279.000

2009: 7.152.000

 

Operating profit                                      2011: 1.807.104

2010: 4.118.000

2009: -128.000

 

Result after taxes                                   2011: 1.142.609

2010: 2.586.000

2009: -119.000

Tendency

 

Tendency capital and reserves

 

Changeable


 

 

 

 

 

Capital and reserves                   2011 5.299.325

Total debt                                  2011 30.350.347

Current ratio                              2011 1,10

Quick ratio                                2011 0,98

Nett workingcapital                     2011 3.148.824

 

Profitability                                More than sufficient

Solvency                                   Moderate

Liquidity                                    Limited

 

Current- & Quickratio

 


Currency                                   Euro

 

 

Balance sheet

 

BOOKYEAR

2011

2010

2009

End of bookyear

31-12-2011

31-12-2010

31-12-2009

Intangible assets

98.117

 

 

Tangible assets

4.719

1.000

4.000

Financial assets

2.047.665

1.831.000

1.738.000

Fixed assets

2.150.501

1.833.000

1.742.000

 

Stocks and work in progress

3.665.472

6.159.000

 

Trade debtors

 

4.719.000

 

Other amounts receivable

 

13.252.000

6.485.000

Accounts receivable

28.826.781

17.971.000

6.485.000

Liquid assets

1.006.918

1.124.000

85.000

Current assets

33.499.171

25.255.000

6.570.000

Total assets

35.649.672

27.088.000

8.312.000

 

Capital and reserves

5.299.325

4.134.000

1.655.000

Other short term debts

 

15.024.000

2.261.000

Total short term debt

30.350.347

22.954.000

6.656.000

Total debt

30.350.347

22.954.000

6.656.000

Total Liabilities

35.649.672

27.088.000

8.312.000

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2011

2010

2009

Turnover

 

139.652.000

7.152.000

Other operating income

 

14.785.000

 

Nett Turnover

213.478.275

148.279.000

7.152.000

Gross profit

213.478.275

 

 

Depreciation and amortization

 

 

4.000

Raw materials

209.720.356

 

7.078.000

Other operating charges

1.950.815

144.161.000

197.000

Operating charges

211.671.171

144.161.000

7.280.000

Operating profit

1.807.104

4.118.000

-128.000

Financial income

0

 

2.000

Financial charges

211.855

1.118.000

1.000

Financial result

-211.855

-1.118.000

2.000

Result participations

205.938

-315.000

-18.000

Result before taxes

1.801.187

2.685.000

-144.000

Income taxes

658.578

99.000

-25.000

Result after taxes

1.142.609

2.586.000

-119.000

Nett result

1.142.609

2.586.000

-119.000

 

History

 

Management                 Per 13-04-2011 manager Alexander Hollebrand appointed.

Per 13-04-2011 manager Joannes Petrus Huijbregts out of office.

Per 13-04-2011 is Proxy Gert-Jan Davidzon appointed.

Per 13-04-2011 is Proxy Alexander Hollebrand out of office.

Per 22-01-2010 is Proxy Viatcheslav Borisovitch Markov appointed.

Per 22-01-2010 is Proxy Alexander Hollebrand appointed.

 

 

Company structure

 

·         Staroil B.V. (34311024)

Haarlem

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.53

UK Pound

1

Rs.86.82

Euro

1

Rs.69.03

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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