MIRA INFORM REPORT

 

 

Report Date :

22.04.2013

 

IDENTIFICATION DETAILS

 

Name :

NEW YORK ZERO SRL 

 

 

Registered Office :

Via Ottavio Revel 6, Torino, 10121

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

31.07.1997

 

 

Com. Reg. No.:

07380920012

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

wholesaler of adults' fur and leather clothing

 

 

No. of Employees :

Not available 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

 

 

Payment Behaviour :

Slow but Correct

 

 

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

(31.03.2012)

Current Rating

(30.06.2012)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

D

 

italy ECONOMIC OVERVIEW

 

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.

 

Source : CIA

 

Company name & address

 

New York Zero SRL

Via Ottavio Revel 6

Torino, 10121

Italy

Fax:      +39 011 2283777

 

 

Synthesis     

 

Employees:                 NA

Company Type:             Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            HOLDING AREAF SRL

Incorporation Date:        31-Jul-1997     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Euro

Annual Sales:               20.0

Total Assets:                 18.8

 

 

Business Description     

 

New York Zero SRL is primarily engaged in wholesale of adults' fur and leather clothing; wholesale of children's and infants' clothing; wholesale of footwear; and wholesale of clothing not elsewhere classified.

 

Industry            

Industry           Apparel and Accessories

ANZSIC 2006:   371 - Textile, Clothing and Footwear Wholesaling

NACE 2002:      5142 - Wholesale of clothing and footwear

NAICS 2002:     4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2003:    5142 - Wholesale of clothing and footwear

UK SIC 2007:    4642 - Wholesale of clothing and footwear

US SIC 1987:    5136 - Men's and Boy's Clothing and Furnishings

 

           

Key Executives   

 

Name                           Title    

Dario Fussotto              Sole administrator        


News   

 

Title

Date

Investigators at State University of New York Zero in on Biological Chemistry
Health & Medicine Week (467 Words)

13-Mar-2013

BRIEF: Zero shades of gray: Get on board with spring's black-and-white trend
AM New York (71 Words)

4-Mar-2013

It doesn't take specialist coppers to solve rape cases. Just good coppers
The Independent (London, England) (1003 Words)

1-Mar-2013

Zero Yield wins $69,000 Aqueduct feature
South Carolina Enquirer-Herald (73 Words)

28-Dec-2012

"Zero Dark Thirty" Named Best Film by NY Film Critics Circle
KSFO-AM (261 Words)

4-Dec-2012

N.Y. film critics pick "Zero Dark Thirty"
CBS News (680 Words)

3-Dec-2012

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327

 

 

Corporate Overview

 

Location

Via Ottavio Revel 6

Torino, 10121

Italy

Fax:      +39 011 2283777

           

Sales EUR(mil):             14.4

Assets EUR(mil):           14.5

Employees:                  NA

Fiscal Year End:            31-Dec-2011

Industry:                       Apparel and Accessories

Incorporation Date:        31-Jul-1997

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):      07380920012

Sole administrator:        Dario Fussotto

 

Industry Codes

 

ANZSIC 2006 Codes:

371       -          Textile, Clothing and Footwear Wholesaling

 

NACE 2002 Codes:

5142     -          Wholesale of clothing and footwear

 

NAICS 2002 Codes:

4243     -          Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

5136     -          Men's and Boy's Clothing and Furnishings

 

UK SIC 2003:

5142     -          Wholesale of clothing and footwear

 

UK SIC 2007:

4642     -          Wholesale of clothing and footwear

 

Business Description

New York Zero SRL is primarily engaged in wholesale of adults' fur and leather clothing; wholesale of children's and infants' clothing; wholesale of footwear; and wholesale of clothing not elsewhere classified.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

14.4

Assets:

14.5

Current Assets:

13.4

 

Total Liabilities:

14.5

 

Net Worth:

1.4

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

-19.2%

NA

 

Key Corporate Relationships

Bank:

Intesa Sanpaolo Ag

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

New York Zero SRL

New York Zero SRL 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

HOLDING AREAF SRL

Parent

 

 

 

 

 

 

New York Zero SRL

Subsidiary

Torino, Torino

Italy

Apparel and Accessories

20.0

28

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Dario Fussotto

 

Sole administrator

President

 

 

 

N.Y. film critics pick "Zero Dark Thirty"

 

CBS News

3 December, 2012

By David Morgan / CBS News/ December 3, 2012, 3:13 PM NEW YORK "Zero Dark Thirty," an account of the hunt and ultimate killing of terror leader Osama bin Laden, was named Best Picture of 2012 by the New York Film Critics Circle. The critics gave their Best.

 

Investigators at City University of New York Zero in on Biochemistry and Biophysics

 

NewsRX

30 November, 2012

 

(NewsRx) -- By a News Reporter-Staff News Editor at Proteomics Weekly -- Fresh data on Biochemistry and Biophysics are presented in a new report. According to news reporting originating in Staten Island, New York, by NewsRx journalists, research stated

 

Investigators from City University of New York Zero in on Medical and Biological Engineering

 

Journal of Engineering

26 September, 2012

 

By a News Reporter-Staff News Editor at Journal of Engineering -- Investigators discuss new findings in Medical and Biological Engineering. According to news reporting out of Brooklyn, New York, by VerticalNews editors, research stated, "Cardiac arrhythmias are initiated in regions that undergo cellular remodeling as a result of disease."

 

Our news journalists obtained a quote from the research from the City University of New York, "Using a sub-cellular model of myocardium, we studied the mechanism of block caused by tissue microstructure remodeling: cell geometry [quantified as length/width (L/W) cell ratio] and cell-to-cell coupling (G (j) ). Heterogeneities in cell L/W ratio and G (j) lead to block when excitability is reduced and the corresponding space constant lambda (in the direction of propagation) increases by > 40 %. Tissue architectures with elongated cells (i.e. large cell L/W ratios) that are better coupled (i.e. large G (j) ) are less prone to block at sites of regional heterogeneities in cell geometry and/or cell coupling than tissue architectures consisting of cells with smaller L/W ratios and/or poorer coupling. Whether an increase in tissue anisotropic ratio (ANR) is arrhythmogenic or not depends on the cellular mechanism of the increase: ANR leads to an increased risk of block when G (j) decreases, but to a decreased risk of block when cell L/W ratio increases."

 

According to the news editors, the researchers concluded: "Our findings are useful to understand the mechanisms of block in cardiac pathologies that result in tissue architecture remodeling."

 

For more information on this research see: Effect of heterogeneities in the cellular microstructure on propagation of the cardiac action potential. Medical & Biological Engineering & Computing, 2012;50(8):813-825. Medical & Biological Engineering & Computing can be contacted at: Springer Heidelberg, Tiergartenstrasse 17, D-69121 Heidelberg, Germany.

 

Our news journalists report that additional information may be obtained by contacting A. Toure, CUNY, Grad Center, Doctoral Program Engn, Brooklyn, NY 11201, United States.

 

Keywords for this news article include: Brooklyn, New York, Cardiology, United States, North and Central America, Medical and Biological Engineering

 

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2012, NewsRx LLC

 

Investigators at State University of New York Zero in on Life Science Research

 

Life Science Weekly

19 September, 2012

 

By a News Reporter-Staff News Editor at Life Science Weekly -- A new study on Life Science Research is now available. According to news reporting from Buffalo, New York, by NewsRx journalists, research stated, "In the yeast Saccharomyces cerevisiae, the establishment and maintenance of silent chromatin at the telomere requires a delicate balance between opposing activities of histone modifying enzymes. Previously, we demonstrated that the protein arginine methyltransferase Hmt1 plays a role in the formation of yeast silent chromatin."

 

The news correspondents obtained a quote from the research from the State University of New York, "To better understand the nature of the Hmt1 interactions that contribute to this phenomenon, we carried out a systematic reverse genetic screen using a null allele of HMT1 and the synthetic genetic array (SGA) methodology. This screen revealed interactions between HMT1 and genes encoding components of the histone deacetylase complex Rpd3L (large). A double mutant carrying both RPD3 and HMT1 deletions display increased telomeric silencing and Sir2 occupancy at the telomeric boundary regions, when comparing to a single mutant carrying Hmt1-deletion only. However, the dual rpd3/hmt1-null mutant behaves like the rpd3-null single mutant with respect to silencing behavior, indicating that RPD3 is epistatic to HMT1. Mutants lacking either Hmt1 or its catalytic activity display an increase in the recruitment of histone deacetylase Rpd3 to the telomeric boundary regions. Moreover, in such loss-of-function mutants the levels of acetylated H4K5, which is a substrate of Rpd3, are altered at the telomeric boundary regions. In contrast, the level of acetylated H4K16, a target of the histone deacetylase Sir2, was increased in these regions. Interestingly, mutants lacking either Rpd3 or Sir2 display various levels of reduction in dimethylated H4R3 at these telomeric boundary regions."

 

According to the news reporters, the researchers concluded: "Together, these data provide insight into the mechanism whereby Hmt1 promotes the proper establishment and maintenance of silent chromatin at the telomeres."

 

For more information on this research see: Recruitment of rpd3 to the telomere depends on the protein arginine methyltransferase hmt1. Plos One, 2012;7(8):e44656. (Public Library of Science - www.plos.org; Plos One - www.plosone.org)

 

Our news journalists report that additional information may be obtained by contacting E.J. Milliman, Dept. of Biological Sciences, State University of New York at Buffalo, Buffalo, New York, United States (see also Life Science Research).

 

Keywords for this news article include: Buffalo, New York, Arginine, Chromatin, United States, Nucleoproteins, Amidohydrolases, Basic Amino Acids, Methyltransferases, Diamino Amino Acids, Histone Deacetylases, Enzymes and Coenzymes, Essential Amino Acids, Life Science Research, North and Central America, One Carbon Group Transferases.

 

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2012, NewsRx LLC

 

 

Annual profit & loss

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

Consolidated

No

No

No

 

 

 

 

Total income

20.1

23.7

22.0

Net sales

20.0

23.6

21.9

Other operating income

0.0

0.0

0.1

Raw materials and consumables employed

14.1

17.2

15.8

Other expenses

3.1

3.9

4.0

Total payroll costs

1.4

1.4

1.3

Fixed asset depreciation and amortisation

0.6

0.4

0.2

Other operating costs

0.2

0.2

0.2

Net operating income

0.7

0.6

0.6

Total financial income

0.0

-0.1

0.0

Total expenses

0.5

0.3

0.4

Profit before tax

0.2

0.2

0.2

Extraordinary result

0.0

0.0

0.1

Profit after extraordinary items and before tax

0.2

0.2

0.3

Total taxation

0.2

0.2

0.2

Net profit

0.0

0.0

0.1

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

1.8

1.8

1.7

Provision for risks

0.0

0.0

0.0

Provision for pensions

0.1

0.1

0.1

Mortgages and loans

0.8

-

0.3

Trade creditors

5.7

7.3

7.5

Bank loans and overdrafts

5.9

5.5

5.0

Other current liabilities

4.3

1.8

1.0

Accruals and deferred income

0.1

0.2

0.2

Total current liabilities

16.0

14.8

13.8

Total liabilities (including net worth)

18.8

16.7

15.9

Intangibles

1.2

1.1

0.7

Total tangible fixed assets

0.2

0.2

0.2

Total financial assets

0.0

0.0

0.0

Total non-current assets

1.4

1.3

0.9

Finished goods

5.4

3.3

5.9

Net stocks and work in progress

5.4

3.3

5.9

Trade debtors

10.7

10.8

7.4

Other receivables

0.5

0.8

0.9

Cash and liquid assets

0.4

0.1

0.2

Marketable securities

0.1

0.1

0.0

Accruals

0.4

0.4

0.6

Total current assets

17.4

15.4

14.9

Total assets

18.8

16.7

15.9

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Current ratio

1.10

1.00

1.10

Quick ratio

0.80

0.80

0.70

Current liabilities to net worth

0.09%

0.08%

0.08%

Sales per employee

-

0.66

0.58

Profit per employee

-

0.01

0.01

Average wage per employee

-

0.04

0.04

Net worth

1.8

1.8

1.7

Number of employees

--

27

27

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.03

UK Pound

1

Rs.82.43

Euro

1

Rs.70.49

 

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.