|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MineStar BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 12 Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
17.02.1999 |
|
|
|
|
Com. Reg. No.: |
465467564 |
|
|
|
|
Legal Form : |
Private Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
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 – 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
MINESTAR BVBA
Company Name MINESTAR BVBA
Company Registration 465467564
Country BE
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Company Status Active
Latest Turnover 0.00 (EUR)
Latest Shareholders Equity 69,749.00 (EUR)
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
VAT Registration Number BE.0465.467.564
Date of Company Registration 17/02/1999
Date of Starting Operations 17/02/1999
Commercial Court Legal Form Private Limited
Company (BL/LX)
Company Status Active
Principal Activity Code 46761
Principal Activity Description Wholesale of
diamonds and other precious stones
Contact Address HOVENIERSSTRAAT 12
ANTWERPEN 2018
Contact Telephone Number 03/2330666
Address HOVENIERSSTRAAT 12
ANTWERPEN 2018
Country BE
Telephone 03/2330666
Name SWATE MAHENDR
PARIKH
Address 90 DESGUINLEI
ANTWERPEN
Date of Birth 18/06/1970
Position Principal Manager
Date Appointed 17/02/1999
Name MANISH LALITBHAI
PARIKH
Address 49 QUINTEN
MATSIJSLEI ANTWERPEN
Position
Principal
Manager
Date Appointed 03/08/2010
Share Capital Structure
Issued Share capital 18,600.00 (EUR)
Employee Information
Year 2012
Number of Employees
0
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue Not Available Not Available Not Available
Operating Costs 0.00 0.00 0.00
Operating Profit 5,933.00 13,641.00 7,567.00
Wages & Salaries 0.00 0.00 0.00
Pension Costs 0.00 0.00 0.00
Depreciation 10,117.00 9,730.00 9,944.00
Financial Income 402.00 4.00 72.00
Financial Expenses 2,995.00 3,373.00
4,605.00
Profit Before Tax 3,340.00 10,271.00 3,034.00
Tax 3,098.00 2,945.00 1,801.00
Profit After Tax 242.00 7,326.00 1,233.00
Dividends 0.00 0.00 0.00
Other Appropriations 0.00 514.00
816.00
Retained Profit 242.00 7,840.00 2,050.00
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings 44,359.00 45,822.00 47,285.00
Plant & Machinery 719.00 0.00 0.00
Other Tangible Assets
15,607.00 22,014.00 30,281.00
Total Tangible Assets 60,686.00 67,836.00 77,566.00
Other Intangible Assets 0.00 0.00 0.00
|
Total Intangible Assets |
0.00 |
0.00 |
0.00 |
|
Miscellaneous Fixed Assets |
0.00 |
0.00 |
0.00 |
|
Total Other Fixed
Assets |
0.00 |
0.00 |
0.00 |
|
Total Fixed Assets |
60,686.00 |
67,836.00 |
77,566.00 |
|
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 |
489,013.00 |
213,114.00 |
364,298.00 |
|
Total Inventories |
489,013.00 |
213,114.00 |
364,298.00 |
|
Trade Receivables |
346,882.00 |
778,697.00 |
224,285.00 |
|
Miscellaneous Receivables |
148,377.00 |
118,299.00 |
84,918.00 |
|
Total Receivables |
495,259.00 |
896,996.00 |
309,203.00 |
|
Cash |
583,364.00 |
372,086.00 |
612,328.00 |
|
Other Current Assets |
1,394.00 |
2,219.00 |
2,937.00 |
|
Total Current Assets |
1,569,030.00 |
1,484,415.00 |
1,288,765.00 |
|
Total Assets |
1,629,715.00 |
1,552,251.00 |
1,366,331.00 |
|
Trade Payables |
626,801.00 |
524,540.00 |
371,086.00 |
|
Other Loans/Finance |
7,837.00 |
7,886.00 |
7,200.00 |
|
Miscellaneous Liabilities |
919,927.00 |
937,130.00 |
905,766.00 |
|
Total Current Liabilities |
1,554,566.00 |
1,469,556.00 |
1,284,052.00 |
|
Other Loans/Finance due after 1 year |
5,401.00 |
13,188.00 |
20,612.00 |
|
Miscellaneous Liabilities due after 1 year |
0.00 |
0.00 |
0.00 |
|
Total Long Term Liabilities |
5,401.00 |
13,188.00 |
20,612.00 |
|
Total Liabilities |
1,559,967.00 |
1,482,744.00 |
1,304,664.00 |
|
Called Up Share Capital |
18,600.00 |
18,600.00 |
18,600.00 |
|
Share Premium |
0.00 |
0.00 |
0.00 |
|
Revenue Reserves |
51,149.00 |
50,907.00 |
43,067.00 |
|
Other Reserves |
0.00 |
0.00 |
0.00 |
|
Total Shareholders
Equity |
69,749.00 |
69,507.00 |
61,667.00 |
|
Other Financials |
|
|
|
|
Working Capital |
14,464.00 |
14,859.00 |
4,713.00 |
|
Net Worth |
69,749.00 |
69,507.00 |
61,667.00 |
|
Pre-Tax Profit
Margin |
0.00 |
0.00 |
0.00 |
|
Return on Capital Employed |
4.44 |
12.42 |
3.69 |
|
Return on Total Assets Employed |
0.20 |
0.66 |
0.22 |
|
Return on Net Assets Employed |
4.79 |
14.78 |
4.92 |
|
Sales/Net Working Capital |
0.00 |
0.00 |
0.00 |
|
Stock Turnover Ratio |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
|
Current Ratio |
1.01 |
1.01 |
1.00 |
|
Liquidity Ratio/Acid Test |
0.69 |
0.87 |
0.72 |
|
Current Debt Ratio |
22.29 |
21.14 |
20.82 |
|
Gearing |
18.98 |
30.32 |
45.10 |
|
Equity in Percentage |
4.28 |
4.48 |
4.51 |
|
Total Debt Ratio |
22.37 |
21.33 |
21.16 |
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.