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Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SPACK B.V. |
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Registered Office : |
Oudelandsedijk 10A Nieuwe Tonge, 3244 LR |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.02.1978 |
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Com. Reg. No.: |
24225423 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject engaged in specialised wholesale not covered in one of the previous categories; and wholesale of a variety of goods without any particular specialisation. |
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No. of Employees : |
14 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Netherlands |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
NETHERLANDS - ECONOMIC OVERVIEW
The Dutch economy is the sixth-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 in 2011. In 2012 tax revenues dropped
nearly 9%, GDP contracted, and the budget deficit deteriorated. Although
jobless claims continued to grow, the unemployment rate remained relatively low
at 6.8 percent.
Source
: CIA
Spack B.V.
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Business
Description
|
Spack B.V. is primarily engaged in specialised wholesale not covered
in one of the previous categories; and wholesale of a variety of goods
without any particular specialisation. |
Industry
|
Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
423990 - Other Miscellaneous Durable Goods Merchant
Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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Spack B.V. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Spack Beheer B.V. |
Parent |
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Subsidiary |
Nieuwe Tonge, Zuid-Holland |
Netherlands |
Miscellaneous Wholesale |
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14 |
Executives Report
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Annual Balance
Sheet |
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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 |
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|
|
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Other reserves |
0.8 |
0.6 |
0.6 |
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Total reserves |
- |
1.8 |
1.5 |
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Total stockholders equity |
0.9 |
2.5 |
2.3 |
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Total long-term liabilities |
0.7 |
1.0 |
1.2 |
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Total current liabilities |
1.7 |
2.2 |
2.1 |
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Total liabilities (including net worth) |
3.3 |
5.7 |
5.5 |
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Total tangible fixed assets |
0.2 |
0.3 |
0.5 |
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Total asset investment |
- |
1.9 |
1.6 |
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Total non-current assets |
0.2 |
2.2 |
2.1 |
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Net stocks and work in progress |
1.4 |
1.4 |
1.6 |
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Total receivables |
1.5 |
2.0 |
1.8 |
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Cash and liquid assets |
0.1 |
0.0 |
0.0 |
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Total current assets |
3.1 |
3.5 |
3.4 |
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Total assets |
3.3 |
5.7 |
5.5 |
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Annual Ratios |
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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 |
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|
|
|
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Current ratio |
1.80 |
1.60 |
1.60 |
|
Acid test ratio |
1.00 |
0.90 |
0.80 |
|
Current liabilities to net worth |
1.95% |
0.88% |
0.93% |
|
Fixed assets to net worth |
0.24% |
0.89% |
0.95% |
|
Net worth |
0.9 |
2.5 |
2.3 |
|
Number of employees |
15 |
15 |
21 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.70 |
|
|
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
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 |
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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 |
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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 |
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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 |
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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.