|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MANUCHAR STEEL NV |
|
|
|
|
Registered Office : |
Rietschoorvelden 20 Antwerpen 2170 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
09.06.2004 |
|
|
|
|
Com. Reg. No.: |
865797353 |
|
|
|
|
Legal Form : |
Public Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Agents involved in the sale of fuels, ores, metals and industrial chemicals |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has
capitalized on its central geographic location, highly developed transport
network, and diversified industrial and commercial base. Industry is
concentrated mainly in the more heavily-populated region of Flanders in the
north. With few natural resources, Belgium imports substantial quantities of
raw materials and exports a large volume of manufactures, making its economy
vulnerable to volatility in world markets. Roughly three-quarters of Belgium's
trade is with other EU countries, and Belgium has benefited most from its
proximity to Germany. In 2011 Belgian GDP grew by 1.8%, the unemployment rate
decreased slightly to 7.2% from 8.3% the previous year, and the government
reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011 and
3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%, the third
consecutive quarter of negative growth. This brought economic growth for the
whole of 2012 to negative 0.2%. It also left Belgium on the brink of a possible
recession at the end of 2012. However, at year's end, the government appeared
close to meeting its 2012 budget deficit goal of 3% of GDP. Despite the
relative improvement in Belgium's budget deficit, public debt hovers around 100%
of GDP, a factor that has contributed to investor perceptions that the country
is increasingly vulnerable to spillover from the euro-zone crisis. Belgian
banks were severely affected by the international financial crisis in 2008 with
three major banks receiving capital injections from the government, and the
nationalization of the Belgian retail arm of a Franco-Belgian bank.
Source
: CIA
MANUCHAR STEEL NV
Company Name MANUCHAR STEEL NV
Country BE
Activity Code 46120
Activity Description Agents involved in
the sale of fuels, ores, metals and industrial chemicals
Company Status Active
Latest Turnover 186,703,867.00
(EUR)
Latest Shareholders Equity 6,985,886.00 (EUR)
Activities
Activity Code 46120
Activity Description Agents involved in
the sale of fuels, ores, metals and industrial chemicals
Company Name MANUCHAR STEEL NV
Registered Company Name MANUCHAR STEEL NV
Company Registration Number 865797353
Country
BE
VAT Registration Number BE.0865.797.353
Date of Company Registration 09/06/2004
Date of Starting Operations 09/06/2004
Commercial Court Legal Form Public Limited
Liability Company (BE)
Company Status Active
Principal Activity Code
46120
Principal Activity Description Agents involved in
the sale of fuels, ores, metals and industrial chemicals
Contact Address RIETSCHOORVELDEN
20 ANTWERPEN 2170
Main Address
Address RIETSCHOORVELDEN
20 ANTWERPEN 2170
Country BE
Name BART DE SCHUTTER
Address 21 KRAANSTRAAT
SCHILDE
Position Director
Date Appointed 08/03/2012
Name PHILIPPE
HUYBRECHTS
Address 20 BREEMLAAN
BOECHOUT
Position Chairman of the
Board
Date Appointed 09/06/2004
Name PHILIPPE LOUIS
MARIE-CLAIRE HUYBRECHS
Date of Birth 30/09/1959
Position Director
Date Appointed 09/06/2004
Issued Share capital 3,500,000.00 (EUR)
Name Manuchar NV
Address Rietschoorvelden,
Antwerpen
Share Percent 99.90 %
Name Baubur NV
Address Rietschoorvelden,
Antwerpen
Share Percent 0.10 %
Company Name Registration
Number Status Last Financials
1 MANUCHAR NV 407045751 Active 31/12/2012
2 BAUBUR NV 404874436
Active 31/12/2012
2 EXPAN CHEMICALS NV 827561141
Active 31/12/2012
3 EXPAN HONG KONG SOC.ETR. E.P.B.
2 LDI INTERNATIONAL NV 472156309
Active 31/12/2012
2 MANUCHAR STEEL NV
865797353 Active 31/12/2012
3 MANUCHAR STEEL HONG KONG LTD SOC.ETR. E.P.B.
2 PARTS TRADING COMPANY NV 423722526
Active 31/12/2012
2 UNIT ONE NV 449634887
Active 31/12/2012
2 MANUCHAR ALGERIE SOC.ETR. E.P.B.
2 MANUCHAR ARGENTINA SOCIEDAD ANONIMA SOC.ETR. E.P.B.
2 MANUCHAR AUSTRALIA SOC.ETR. E.P.B.
2 MANUCHAR CHILI SOC.ETR. E.P.B.
2 MANUCHAR COMÉRCIO EXTERIOR LTDA SOC.ETR. E.P.B.
2 MANUCHAR COTE D'IVOIRE SOC.ETR. E.P.B.
2 MANUCHAR DOMINICANA SOC.ETR. E.P.B.
2 MANUCHAR EL SALVADOR SOC.ETR. E.P.B.
2 MANUCHAR GHANA SOC.ETR. E.P.B.
2 MANUCHAR GUATEMALA SOC.ETR. E.P.B.
2 MANUCHAR HONDURAS SA DE CV SOC.ETR. E.P.B.
2 MANUCHAR HONG KONG LTD SOC.ETR. E.P.B.
2 MANUCHAR INC Active
2 MANUCHAR INDIA SOC.ETR. E.P.B.
2 MANUCHAR INDONESIA SOC.ETR. E.P.B.
2 MANUCHAR INTERNATIONAL SA DE SOC.ETR. E.P.B.
2 MANUCHAR KAZAKHSTAN SOC.ETR. E.P.B.
2 MANUCHAR KENYA SOC.ETR. E.P.B.
2 MANUCHAR MIDDLE EAST FZE SOC.ETR. E.P.B.
2 MANUCHAR PHILIPPINES INC SOC.ETR. E.P.B.
2 MANUCHAR THAILAND LTD SOC.ETR. E.P.B.
2 MANUCHAR TRADING HOUSE SOC.ETR. E.P.B.
2 MANUCHAR TRINIDAD SOC.ETR. E.P.B.
2 MANUCHAR UKRAINE LTD SOC.ETR. E.P.B.
2 MANUCHAR VENEZUELA SOC.ETR. E.P.B.
2 MANUCHAR ZUID-AFRIKA SOC.ETR. E.P.B.
2 ROSSIYA BELGIUM MANUCHAR CHEMICALS SOC.ETR. E.P.B.
Affiliate Name BAUBUR NV
Affiliate ID BE009/X/404874436
Country BE
Affiliate Name EXPAN CHEMICALS NV
Affiliate ID BE009/X/827561141
Country BE
Affiliate Name LDI INTERNATIONAL
NV
Affiliate ID BE009/X/472156309
Country BE
Affiliate Name PARTS TRADING COMPANY NV
Affiliate ID BE009/X/423722526
Country BE
Affiliate Name UNIT ONE NV
Affiliate ID BE009/X/449634887
Country BE
Employee Information
Year 2012
Number of Employees 0
Profit & Loss
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 186,703,867.00 215,574,882.00 177,080,006.00
Operating Costs 184,087,403.00 210,246,422.00 174,060,499.00
Operating Profit 2,616,465.00 5,328,460.00 3,019,507.00
Wages & Salaries 0.00 0.00 0.00
Pension Costs 0.00 0.00 0.00
Depreciation 0.00 0.00 0.00
Financial Income 311,010.00 590,278.00 443,785.00
Financial Expenses 2,180,159.00 3,190,568.00 1,806,168.00
Profit Before Tax 747,315.00 2,728,171.00 1,657,125.00
Tax 117,120.00 801,419.00 433,759.00
Profit After Tax 630,195.00 1,926,752.00 1,223,365.00
Dividends 8,700,000.00 0.00 1,300,000.00
Other Appropriations 0.00 0.00 3,966.00
Retained Profit -8,069,805.00 1,926,752.00 -72,669.00
Balance Sheet
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings 0.00 0.00 0.00
Plant & Machinery 0.00 0.00 0.00
Other Tangible Assets
0.00 0.00 0.00
Total Tangible Assets 0.00 0.00 0.00
Other Intangible Assets
0.00 0.00 0.00
Total Intangible Assets 0.00 0.00 0.00
Miscellaneous Fixed
Assets 763,214.00 763,212.00 762,408.00
Total Other Fixed Assets 763,214.00 763,212.00 762,408.00
Total Fixed Assets 763,214.00 763,212.00 762,408.00
Raw Materials 0.00 0.00 0.00
Work in Progress
0.00 0.00 0.00
Finished Goods 0.00 0.00 0.00
Other Inventories 0.00 0.00 0.00
Total Inventories 0.00 0.00 0.00
Trade Receivables 44,595,602.00 84,227,075.00 64,300,167.00
Miscellaneous Receivables 9,129,363.00 3,557,518.00 511,089.00
Total Receivables 53,724,965.00 87,784,593.00 64,811,256.00
Cash 1,649,055.00 1,435,527.00 1,453,321.00
Other Current Assets
0.00 6,370.00 0.00
Total Current Assets 55,374,020.00 89,226,490.00 66,264,576.00
Total Assets 56,137,233.00 89,989,702.00 67,026,984.00
Trade Payables 7,353,765.00 2,641,097.00 2,313,098.00
Other Loans/Finance 30,653,014.00 69,959,767.00 49,119,562.00
Miscellaneous Liabilities 11,144,569.00 2,333,146.00 2,465,385.00
Total Current Liabilities
49,151,347.00 74,934,011.00 53,898,045.00
Other Loans/Finance due after 1 0.00 0.00 0.00
Year
Miscellaneous Liabilities
Due after 1 year 0.00 0.00 0.00
Total Long Term Liabilities
0.00 0.00 0.00
Total Liabilities 49,151,347.00 74,934,011.00 53,898,045.00
Called Up Share Capital
3,500,000.00 3,500,000.00 3,500,000.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 3,485,886.00 11,555,691.00 9,628,939.00
Other Reserves 0.00 0.00 0.00
Total Shareholders Equity 6,985,886.00 15,055,691.00 13,128,939.00
Other Financials
Working Capital 6,222,673.00 14,292,480.00 12,366,532.00
Net Worth 6,985,886.00 15,055,691.00 13,128,939.00
Ratios
Pre-Tax Profit Margin 0.40 1.27 0.94
Return on Capital Employed 10.70 18.12 12.62
Return on Total Assets
Employed 1.33 3.03 2.47
Return on Net Assets
Employed 10.70 18.12
12.62
Sales/Net Working Capital 30.00 15.08 14.32
Stock Turnover Ratio 0.00 0.00 0.00
Debtor Days 87.18 142.61 132.54
Creditor Days 14.58 4.59 4.85
Current Ratio 1.13 1.19 1.23
Liquidity Ratio/Acid Test 1.13 1.19 1.23
Current Debt Ratio 7.04 4.98 4.11
Gearing 438.78 464.67
374.13
Equity in Percentage
12.44 16.73 19.59
Total Debt Ratio 7.04 4.98 4.11
Significant Events
Event Date 08/03/2012
Event Description re-appointment of
director(s)
Event Details Commentaar
08-03-2012: re-appointment as bestuurders for a period of 6 years : Huybrechts Philippe
(tevens als gedelegeerd bestuurder), Aerts Dirk, Yong Xia, De schutter Bart en
Roegiest Peter.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.66 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.87.74 |
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.