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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
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Name : |
CHORON DIAMONDS |
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Registered Office : |
Hoveniersstraat 2
B.302 Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
1985 |
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Com. Reg. No.: |
427939452 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of
other intermediate products |
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No. of Employees : |
4 |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 2.0%, the unemployment rate decreased slightly to 7.7%
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. Despite the relative improvement
in Belgium's budget deficit, public debt hovers near 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 arm of a Franco-Belgian bank. An ageing population and rising
social expenditures are mid- to long-term challenges to public finances.
Source
: CIA
Choron Diamonds
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Business Description
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Wholesale of other intermediate products |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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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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Executives Report
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Turnover |
134.1 |
106.5 |
61.4 |
|
Other Operating
Income |
0.0 |
0.0 |
- |
|
Operating Income |
134.1 |
106.5 |
61.4 |
|
Purchases |
144.2 |
106.7 |
62.7 |
|
Increase
or Decrease in Stocks |
-11.9 |
-1.2 |
-1.9 |
|
Raw Materials,
Consumables, and Goods for Release |
132.3 |
105.5 |
60.8 |
|
Services and Sundry
Goods |
0.5 |
0.4 |
0.3 |
|
Remuneration,
Social Security Charges, and Pensions |
0.1 |
0.0 |
0.0 |
|
Depreciation of and
Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed
Assets |
0.1 |
0.1 |
0.0 |
|
Other Operating
Charges |
0.0 |
0.0 |
0.0 |
|
Operating Charges |
133.0 |
106.0 |
61.1 |
|
Income From
Financial Fixed Assets |
- |
0.0 |
- |
|
Other Financial
Income |
0.2 |
0.0 |
0.0 |
|
Financial Income |
0.2 |
0.0 |
0.0 |
|
Interest and Other
Debt Charges |
0.3 |
0.1 |
0.0 |
|
Other Financial
Charges |
0.3 |
0.1 |
0.0 |
|
Financial Charges |
0.6 |
0.1 |
0.0 |
|
Gain on Disposal of
Fixed Assets |
- |
0.0 |
- |
|
Other Extraordinary
Income |
0.0 |
0.0 |
- |
|
Extraordinary Income |
0.0 |
0.0 |
- |
|
Income Taxes |
0.2 |
0.2 |
0.1 |
|
Adjustment of
Income Taxes and Write-Back of Tax Provisions |
0.0 |
- |
0.0 |
|
Income Taxes |
0.2 |
0.2 |
0.1 |
|
To
the Legal Reserve |
0.0 |
0.0 |
0.0 |
|
To
Other Reserves |
0.5 |
0.3 |
0.2 |
|
Transfers to
Capital and Reserves |
0.5 |
0.3 |
0.2 |
|
Employees |
4 |
2 |
2 |
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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 |
|
|
|
|
|
|
Intangible Assets |
0.0 |
0.0 |
- |
|
Land
& Buildings |
1.8 |
- |
- |
|
Plant,
Machinery, and Equipment |
0.1 |
0.0 |
0.0 |
|
Furniture
and Vehicles |
0.1 |
0.1 |
0.2 |
|
Tangible Assets |
2.0 |
0.2 |
0.2 |
|
Amounts
Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
|
Other
Capital Assets |
0.0 |
0.0 |
0.0 |
|
Capital Assets |
0.0 |
0.0 |
0.0 |
|
Fixed Assets |
2.0 |
0.2 |
0.2 |
|
Goods
Purchased for Resale |
18.1 |
7.0 |
5.7 |
|
Stocks |
18.1 |
7.0 |
5.7 |
|
Inventory and
Orders in Progress |
18.1 |
7.0 |
5.7 |
|
Trade
Debtors |
15.9 |
7.0 |
12.5 |
|
Other
Amounts Receivable |
0.0 |
0.0 |
0.0 |
|
Amounts Receivable
Within One Year |
15.9 |
7.0 |
12.5 |
|
Liquid Assets |
0.1 |
0.3 |
0.1 |
|
Adjustment Accounts |
0.0 |
0.0 |
0.0 |
|
Current Assets |
34.1 |
14.3 |
18.3 |
|
Total Assets |
36.1 |
14.4 |
18.5 |
|
Issued
Capital |
3.9 |
3.0 |
2.9 |
|
Capital |
3.9 |
3.0 |
2.9 |
|
Legal
Reserve |
0.1 |
0.0 |
0.0 |
|
Reserves
Available for Distribution |
0.4 |
0.9 |
0.6 |
|
Reserves |
0.5 |
0.9 |
0.6 |
|
Capital and Reserves |
4.4 |
3.9 |
3.6 |
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Subordinated
Loans |
- |
2.3 |
- |
|
Credit
Institutions |
0.1 |
0.1 |
0.2 |
|
Financial
Debts |
0.1 |
2.4 |
0.2 |
|
Amounts Due After
More Than One Year |
0.1 |
2.4 |
0.2 |
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Current
Portion of Amounts Payable After More Than One Year |
0.0 |
0.0 |
0.0 |
|
Credit
Institutions |
10.8 |
0.8 |
- |
|
Financial
Debts |
10.8 |
0.8 |
- |
|
Suppliers |
16.6 |
7.0 |
12.2 |
|
Trade
Debts |
16.6 |
7.0 |
12.2 |
|
Taxes |
0.2 |
0.1 |
0.1 |
|
Remuneration
and Social Security |
0.0 |
0.0 |
0.0 |
|
Taxes,
Wages, and Social Security |
0.3 |
0.1 |
0.1 |
|
Other
Amounts Payable |
3.9 |
0.2 |
2.4 |
|
Amounts Payable
Within One Year |
31.6 |
8.2 |
14.7 |
|
Adjustment Accounts |
0.0 |
- |
0.0 |
|
Creditors |
31.7 |
10.5 |
14.9 |
|
Total Liabilities + Shareholders' Equity |
36.1 |
14.4 |
18.5 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
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.