MIRA INFORM REPORT

Report Date :

06.07.2013

IDENTIFICATION DETAILS

Name :	HENDRIK VAN DER WEIDE THE WOOD COMPANY POLAND
Registered Office :	ul. Sadowa 1, 38-500 Sanok
Country :	Poland
Date of Incorporation :	03.03.2009
Legal Form :	Natural persons conducting business activity
Line of Business :	Sale of wood and wooden blocks
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
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 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Poland	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

poland ECONOMIC OVERVIEW

Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the European Union to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average while unemployment continues to exceed the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances without stifling economic growth and adopted controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2012, in part due to the ongoing economic difficulties in the euro zone. The key policy challenge is to provide support to the economy through monetary easing, while maintaining the pace of structural fiscal consolidation. Poland's economic performance could improve over the longer term if the country addresses some of the remaining deficiencies in its road and rail infrastructure and its business environment. An inefficient commercial court system, a rigid labor code, red tape, and a burdensome tax system keep the private sector from realizing its full potential.

Source : CIA

Company name & address

Hendrik Van Der Weide THE WOOD COMPANY POLAND

ul. Sadowa 1
38-500 Sanok

Mobile phone: 723 757163

E-mail:   majesticfloors@gmail.com / thewoodcompany@gmail.com

Company summary

Legal form	Natural persons conducting business activity
Stat.no.	180407450
Tax ID	PL 6871893783

Establishment

03.03.2009

Registration:

13.12.2011, Central Business Activity Registration and Information Office, Date of beginning of the activity 04.03.2009,  Data concerning previous registrations: 03.03.2009, Municipal Office Sanok, No. 9122 Date of beginning of the activity 04.03.2009,

Owner

Hendrik  Van Der Weide , personal ID no. (PESEL) 67072512855

Main activity	Sale of wood and wooden blocks
	Branches NACE 2007:
	Sawmilling and planing of wood

Employment

No data available

Turnover

data not possible to obtain

Financial statements

Balance data unavailable

While rating the company, it is advisable to take into consideration information about the branch  , the company is acting in
(C.16.10.Z - NACE 2007), as at :	31.12.2012	31.12.2011	31.12.2010	31.12.2009	31.12.2008
Current ratio............................	1,63	1,54	1,40	1,43	1,30
Quick ratio..............................	0,86	0,88	0,75	0,71	0,63
Immediate ratio..........................	0,20	0,20	0,14	0,14	0,11
Return on sale...........................	2,63	3,05	1,65	-0,75	-3,82
Return on assets.........................	4,08	4,44	2,49	-0,96	-5,61
Return on equity.........................	7,82	8,32	5,35	-1,80	-11,82
Average trade debtors' days..............	46,34	53,11	50,62	54,18	47,35
Average stock turnover's days............	57,67	54,05	57,80	69,91	60,35
average payables payment period..........	76,71	84,67	91,57	100,58	92,04
Total indebtedness ratio.................	47,88	46,70	53,40	46,46	52,56
Percent share in the examinated group of companies with net profit.............	84,90	82,40	74,20	68,90	62,70
Sales/revenue per employee in th. PLN....	237,09	193,93	190,15	158,13	151,65
Average sales/revenue per company in th. PLN..................................	32 966,28	26 486,69	23 008,19	18 076,35	18 911,58
according to the Central Statistical Office

Locations:

seat: ul. Sadowa 1, 38-500 Sanok Mobile phone:            723 757163 E-mail:                  majesticfloors@gmail.com thewoodcompany@gmail.com correspondence address: Tyrawa Wołoska 64, 38-535 Tyrawa Wołoska

Real Estate	Verification of information on real estate ownership position through the Real Estate Register is not covered by the standard report.
Connections:			Hendrik  Van Der Weide , personal ID no. (PESEL) 67072512855 -  "KW WOODEN FLOORS" sp. z o.o. NIP 6871869773, Tyrawa Wołoska 155, 38-535 Tyrawa Wołoska   · shareholder: PLN 25 000,00   · vice president -  KAMIDA WOOD GROUP Spółka z o.o. NIP 6871942116, ul. Sadowa 1, 38-500 Sanok   · shareholder: PLN 935 350,00 (99,47%)   · president
			Data concerning connections are valid as at: 05.07.2013.
Debt collection		Since 15.05.2012 until 01.10.2012 debt collection proceedings was in progress Case no. 283833 Proceedings' types: - WPS value of main amount due PLN 971,72 with paid off value PLN 0,00 Result: without success

Banks	Names of banks were not disclosed
Payment Manner	Partly within agreed terms, partly with delays.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.34
UK Pound	1	Rs.90.79
Euro	1	Rs.77.81

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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