MIRA INFORM REPORT

 

 

Report Date :

18.02.2013

 

IDENTIFICATION DETAILS

 

Name :

PATTYN PACKING LINES

 

 

Registered Office :

Hoge Hul 4 6 B.8 Brugge, 8000

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

2004

 

 

Com. Reg. No.:

871045944

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Manufacture of other special purpose machinery not elsewhere classified

 

 

No. of Employees :

51

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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 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

 

company name and address

 

PATTYN PACKING LINES                     

 

Hoge Hul 4 6 B.8

 

 

Brugge, 8000

Belgium

 

 

Tel:

050 45 04 80

Fax:

050 31 46 76

 

 

 

Employees:

51

Company Type:

Private Independent

 

 

Incorporation Date:

2004

Financials in:

               

 

 

Fiscal Year End:

31-Dec-2011

Reporting Currency:

Euro

Annual Sales:

19.5  1

Total Assets:

19.1

                                      

 

Business Description

 

 

Manufacture of other special purpose machinery not elsewhere classified

 

 

Industry

 

 

Industry

Miscellaneous Capital Goods

ANZSIC 2006:

2499 - Other Machinery and Equipment Manufacturing Not Elsewhere Classified

NACE 2002:

2956 - Manufacture of other special purpose machinery not elsewhere classified

NAICS 2002:

333298 - All Other Industrial Machinery Manufacturing

UK SIC 2003:

2956 - Manufacture of other special purpose machinery not elsewhere classified

UK SIC 2007:

2899 - Manufacture of other special-purpose machinery n.e.c.

US SIC 1987:

3569 - General Industrial Machinery and Equipment, Not Elsewhere Classified

 

 

Key Executives   

      

 

Name

Title

Paul Jean Theophiel Pattyn

Managing Director

Donckt Hedwig Claude Andreas Vander

Representative/Auditor

Stan Jean Aime Pattyn

Shareholders' Representative

 

Registered No.(VAT): 871045944

 

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
Hoge Hul 4 6 B.8
Brugge, 8000
Belgium

 

Tel:

050 45 04 80

Fax:

050 31 46 76

 

 

Sales EUR(mil):

14.0

Assets EUR(mil):

14.7

Employees:

51

Fiscal Year End:

31-Dec-2011

 

Industry:

Miscellaneous Capital Goods

Incorporation Date:

2004

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(VAT):

871045944

 

Managing Director:

Paul Jean Theophiel Pattyn

 

 

Industry Codes

 

ANZSIC 2006 Codes:

2499

-

Other Machinery and Equipment Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2956

-

Manufacture of other special purpose machinery not elsewhere classified

2924

-

Manufacture of other general purpose machinery not elsewhere classified

 

NAICS 2002 Codes:

333298

-

All Other Industrial Machinery Manufacturing

33399

-

All Other General Purpose Machinery Manufacturing

 

US SIC 1987:

3569

-

General Industrial Machinery and Equipment, Not Elsewhere Classified

 

UK SIC 2003:

2956

-

Manufacture of other special purpose machinery not elsewhere classified

2924

-

Manufacture of other general purpose machinery not elsewhere classified

 

UK SIC 2007:

2899

-

Manufacture of other special-purpose machinery n.e.c.

2829

-

Manufacture of other general-purpose machinery n.e.c.

 

 

Business Description

 

Manufacture of other special purpose machinery not elsewhere classified

 

 

Financial Data

 

Financials in:

EUR(mil)

Revenue:

14.0

Assets:

14.7

Current Assets:

12.7

Fixed Assets:

2.0

Total Liabilities:

14.7

Issued Capital:

0.3

Net Worth:

0.3

Date of Financial Data:

31-Dec-2011

1 Year Growth

-19.4%

NA

 

 

 

Executives

 

Name

Title

Function

Paul Jean Theophiel Pattyn

 

Managing Director

Managing Director

Age: 60

Donckt Hedwig Claude Andreas Vander

 

Representative/Auditor

Accounting Executive

 

Age: 60

Stan Jean Aime Pattyn

 

Shareholders' Representative

Shareholder Relations Executive

 

Age: 35



Annual Profit & Loss

 

 

 

 

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

19.5

14.0

12.3

    Increase or Decrease in Stocks of Finished Goods, and Orders in Progress

2.0

-0.4

-0.4

    Immobilized Production

0.2

0.3

0.2

    Other Operating Income

0.7

0.6

0.4

Operating Income

22.4

14.5

12.5

        Purchases

11.3

6.2

5.3

        Increase or Decrease in Stocks

-0.1

0.0

0.1

    Raw Materials, Consumables, and Goods for Release

11.2

6.2

5.3

    Services and Sundry Goods

5.3

3.7

2.9

    Remuneration, Social Security Charges, and Pensions

4.0

3.6

3.4

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.4

0.4

0.4

    Provisions for Liabilities and Charges

0.0

0.0

-0.2

    Other Operating Charges

0.0

0.0

0.2

Operating Charges

20.9

14.0

12.1

    Income From Financial Fixed Assets

0.0

-

-

    Income From Current Assets

0.0

0.0

0.0

    Other Financial Income

0.2

0.1

0.1

Financial Income

0.2

0.1

0.1

    Interest and Other Debt Charges

0.1

0.1

0.1

    Other Financial Charges

0.1

0.0

0.0

Financial Charges

0.2

0.1

0.1

    Other Extraordinary Income

0.0

-

-

Extraordinary Income

0.0

-

-

    Income Taxes

0.4

0.1

0.1

    Adjustment of Income Taxes and Write-Back of Tax Provisions

0.0

0.0

-

Income Taxes

0.4

0.1

0.1

    Transfer to Untaxed Reserves

0.2

-

-

        To the Legal Reserve

0.0

-

-

        To Other Reserves

1.0

0.3

-

    Transfers to Capital and Reserves

1.0

0.3

-

        Return on Capital

-

-

0.1

        Administrators or Managers

0.1

0.0

-

    Profit to be Distributed

0.1

0.0

0.1

    Employees

51

49

48

 

 

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

0.3

0.4

0.3

        Land & Buildings

0.3

0.3

0.3

        Plant, Machinery, and Equipment

0.0

0.0

0.0

        Furniture and Vehicles

0.2

0.1

0.2

        Leasing and Other Similar Rights

0.0

-

-

    Tangible Assets

0.6

0.4

0.6

        Participating Interests

1.0

0.3

-

        Amounts Receivable

0.7

-

-

        Affiliated Enterprises

1.7

0.3

-

        Amounts Receivable and Cash Guarantees

0.0

0.0

0.0

        Other Capital Assets

0.0

0.0

0.0

    Capital Assets

1.7

0.3

0.0

Fixed Assets

2.6

1.1

0.9

        Other Amounts Receivable

0.5

0.2

0.3

    Amounts Receivable After More Than One Year

0.5

0.2

0.3

        Raw Materials and Consumables

1.0

0.9

1.0

        Advance Payments

3.4

-

-

        Stocks

4.4

0.9

1.0

        Orders in Progress

3.6

1.8

2.3

    Inventory and Orders in Progress

8.0

2.7

3.3

        Trade Debtors

6.5

4.1

2.4

        Other Amounts Receivable

0.9

0.6

0.3

    Amounts Receivable Within One Year

7.4

4.7

2.7

    Liquid Assets

0.3

0.4

0.6

    Adjustment Accounts

0.2

0.0

0.0

Current Assets

16.5

8.0

6.9

Total Assets

19.1

9.1

7.8

        Issued Capital

0.4

0.4

0.5

    Capital

0.4

0.4

0.5

        Legal Reserve

0.0

0.0

0.0

        Untaxed Reserves

0.2

0.0

0.0

        Reserves Available for Distribution

2.1

1.7

1.6

    Reserves

2.3

1.8

1.7

        Pensions and Similar Obligations

0.1

0.1

0.1

        Other Liabilities and Charges

0.0

0.0

0.0

        Provisions for Liabilities and Charges

0.1

0.2

0.2

    Provisions and Deferred Taxes

0.1

0.2

0.2

Capital and Reserves

3.4

3.0

2.7

        Subordinated Loans

0.3

0.1

0.1

        Leasing and Other Similar Obligations

0.0

-

-

        Credit Institutions

-

0.4

0.1

        Financial Debts

0.4

0.6

0.2

    Amounts Due After More Than One Year

0.4

0.6

0.2

        Current Portion of Amounts Payable After More Than One Year

0.0

0.1

0.1

        Credit Institutions

2.5

0.2

0.6

        Financial Debts

2.5

0.2

0.6

        Suppliers

3.6

1.8

1.7

        Trade Debts

3.6

1.8

1.7

        Advances Received on Orders in Progress

7.9

2.3

1.5

        Taxes

0.4

0.1

0.1

        Remuneration and Social Security

0.6

0.5

0.5

        Taxes, Wages, and Social Security

1.0

0.7

0.6

        Other Amounts Payable

0.1

0.1

0.1

    Amounts Payable Within One Year

15.1

5.2

4.6

    Adjustment Accounts

0.1

0.2

0.1

Creditors

15.6

6.0

4.9

Total Liabilities + Shareholders' Equity

19.1

9.1

7.8

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.99

UK Pound

1

Rs.83.72

Euro

1

Rs.72.08

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.