MIRA INFORM REPORT

 

 

Report Date :

24.07.2013

 

IDENTIFICATION DETAILS

 

Correct Name :

Foderami Testatonda Di Testatonda Vincen zo S.a.s.

 

 

Registered Office :

Via Veregrense, 11,

63812 – Montegranaro (FM)

 

 

Country :

Italy

 

 

Date of Incorporation :

27.08.1984

 

 

Legal Form :

Limited Partnership

 

 

Line of Business :

Wholesaler of skins and untreated and treated leather (except skins for furs)

Wholesaler of textile products

 

 

No. of Employees :

1 to 5 employees

 

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 :

No  Complaints

 

 

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)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

italy ECONOMIC OVERVIEW

 

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.

 

Source : CIA

 

 

Company name & address

 

Foderami Testatonda Di Testatonda Vincen zo S.a.s.

 

Via Veregrense, 11

 

63812 - Montegranaro  (FM) -IT-

 

 

Summary

 

Fiscal Code

:

01016030445

Legal Form

:

Limited partnership

start of Activities

:

17/10/1984

Turnover Range

:

375.000/500.000

Number of Employees

:

from 1 to 5

 

 

Activity

 

Wholesale of skins and untreated and treated leather (except skins for furs)

Wholesale of textile products



Legal Data

 

Legal Form : Limited partnership

Fiscal Code : 01016030445

 

Foreign Trade Reg. no. : FM003755 since 30/12/1991

 

Foreign Trade Reg. no. : 1942 of Ascoli Piceno since 30/12/1991

 

Chamber of Commerce no. : 106987 of Ascoli Piceno since 13/09/1984

 

Chamber of Commerce no. : 106987 of Fermo since 27/02/2009

 

V.A.T. Code : 01016030445

 

Tribunal Co. Register : 3597 of

 

Foundation date

: 27/08/1984

Establishment date

: 27/08/1984

Start of Activities

: 17/10/1984

Legal duration

: 31/12/2020

Nominal Capital

: 10.329

 

Subscribed Capital

: 10.329

 

Paid up Capital

: 10.329

 




Members

 

Testatonda

Vincenzo

 

 

Born in Montegranaro

(AP)

on 09/12/1933

- Fiscal Code : TSTVCN33TO9F522Z

 

 

Residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(FM)

- IT -

 

Position

Since

Shares Amount

% Ownership

General Partner

27/08/1984

4.648 -

45,00

 

No Prejudicial events are reported

 

No Protests registered

 

Testatonda

Marilena

 

 

Born in Torre San Patrizio

(AP)

on 17/10/1961

- Fiscal Code : TSTMLN61R57L279J

 

 

Residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(FM)

- IT -

 

Position

Since

Shares Amount

% Ownership

General Partner

01/07/1996

1.893 -

18,33

 

No Prejudicial events are reported

 

No Protests registered

 

Testatonda

Carla

 

 

Born in Torre San Patrizio

(AP)

on 03/05/1963

- Fiscal Code : TSTCRL63E43L279T

 

 

Residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(FM)

- IT -

 

Position

Since

Shares Amount

% Ownership

Limited Partner

27/08/1984

1.893 -

18,33

 

No Prejudicial events are reported

 

No Protests registered

 

Testatonda

Simonetta

 

 

Born in Torre San Patrizio

(AP)

on 26/10/1959

- Fiscal Code : TSTSNT59R66L279Q

 

 

Residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(FM)

- IT -

 

Position

Since

Shares Amount

% Ownership

General Partner

01/07/1996

1.894 -

18,34

 

No Prejudicial events are reported

 

No Protests registered



Companies connected to members *

 

*checkings have been performed on a national scale.

In this module the companies in which members hold/held positions are listed.

 

The Members of the subject firm are not reported to be Members in other companies.

 

 

Direct Participations

 

The Company under review has no participations in other Companies.

 

Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

since 09/11/1988

 

 

 

 

 

 

Veregrense

, 11

- 63014

- Montegranaro

(FM)

- IT -

 

 

 

 

TELEX

: 560369FODER

 

 

 

 

PHONE

: 073488395

 

 

 

 

Employees

: 2

 

Fittings and Equipment for a value of 62.000

Eur

 

Stocks for a value of 130.000

Eur

 

Vehicles: 1.

 

 

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- distributors

 

- direct orders to foreign companies

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- importers

 

- direct orders from foreign companies

 

Import comes generally from the following nations:

- Italy

 

- France

 

 

Historical Information and/or Firm's Status

 

 

EX-MEMBERS / EX-POSITIONS:

 

Palozzi

Guglielma

 

 

Born in Torre San Patrizio

(AP)

on 19/10/1935

- Fiscal Code : PLZGLL35R59L279S

 

 

Fiscal residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(AP)

- IT -

 

Ex-Postions

Limited Partner

 

Testatonda

Marilena

 

 

Born in Torre San Patrizio

(AP)

on 26/10/1959

- Fiscal Code : TSTSNT59R66L2790

 

 

Fiscal residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(AP)

- IT -

 

Ex-Postions

Limited Partner

 

Testatonda

Marilena

 

 

Born in Torre San Patrizio

(AP)

on 17/10/1961

- Fiscal Code : TSTMLN61R57L279J

 

 

Residence:

 

Carlo Alberto

, 16

- 63014

Montegranaro

(FM)

- IT -

 

Ex-Postions

Limited Partner



Protests

 

Protests checking on the subject firm has given a negative result.



Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.



Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.

 

Financial and Economical Analysis

 

The subject started many years ago and from the financial point of

view it shows a regular trend.

Good financial conditions. They let the firm meet business

requirements without problems.

Subject's payment experiences we record are all positive.

Modest indebtedeness. Subject never exceeded the normal levels of

supplier and bank credit.

No irregularities are registered.

Correct trade relations. No meaningful remark is expressed by

usual suppliers.

 

Financial Data

 

 

Complete balance-sheet for the year

 

(in Eur

x 1)

 

Item Type

Value

Sales

500.000


Market / Territory Data

 

 

Population living in the province

:

1.518.780

Population living in the region

:

0

Number of families in the region

:

0

 

Monthly family expenses average in the region (in .) :

 

- per food products

:

0

- per non food products

:

0

- per energy consume

:

0



Sector Data

 

The values are calculated on a base of 941 significant companies.

 

The companies cash their credits on an average of 90 dd.

The average duration of suppliers debts is about 77 dd.

The sector's profitability is on an average of 1,61%.

The labour cost affects the turnover in the measure of 4,81%.

Goods are held in stock in a range of 37 dd.

The difference between the sales volume and the resources used to realize it is about 1,64.

The employees costs represent the 4,83% of the production costs.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.69

UK Pound

1

Rs.91.66

Euro

1

Rs.78.69

 

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%)

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.