MIRA INFORM REPORT
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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
VINMAR CHEMICALS AND POLYMERS B.V. |
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Registered Office : |
Neptunusstraat 21- 1 Hoofddorp, 2132 JA |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.10.1999 |
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Com. Reg. No.: |
24296673 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is engaged in loading and unloading of goods or
passengers luggage irrespective of the mode of transport used for
transportation and stevedoring. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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Source
: CIA |
Company name and address
VINMAR CHEMICALS AND POLYMERS B.V.
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Neptunusstraat 21- 1 Hoofddorp, 2132 JA Netherlands
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Business Description
Vinmar Chemicals And Polymers B.V. is primarily engaged in loading and unloading of goods or passengers’ luggage irrespective of the mode of transport used for transportation; and stevedoring.
Industry
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Industry |
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ANZSIC 2006: |
5299 - Other Transport Support Services Not
Elsewhere Classified |
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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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Name |
Title |
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Hemant Goradia |
Managing director |
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Vijay Goradia |
Managing director |
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Swatantra Jain |
Managing director |
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Guillermo Ruiz |
Member of the board |
Registered No.(NLD): 24296673
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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ANZSIC 2006 Codes: |
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5299 |
- |
Other Transport Support Services Not Elsewhere Classified |
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NACE 2002 Codes: |
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6311 |
- |
Cargo handling |
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NAICS 2002 Codes: |
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488 |
- |
Support Activities for Transportation |
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US SIC 1987: |
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4731 |
- |
Arrangement of Transportation of Freight and Cargo |
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UK SIC 2003: |
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6311 |
- |
Cargo handling |
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UK SIC 2007: |
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5224 |
- |
Cargo handling |
Vinmar Chemicals And Polymers B.V. is primarily engaged in loading and unloading of goods or passengers’ luggage irrespective of the mode of transport used for transportation; and stevedoring.
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Bank: Fortis Bank Nederland NV
Corporate Family
Corporate Structure News:
Total Corporate Family Members: 3
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Houston, TX |
United States |
Miscellaneous Capital Goods |
355.0 |
130 |
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Subsidiary |
George Town, Grand Cayman |
Cayman Islands |
Miscellaneous Financial Services |
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Subsidiary |
Hoofddorp, Noord-Holland |
Netherlands |
Miscellaneous Transportation |
319.6 |
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Executives Report
Board of Directors
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Member of the board |
Director/Board Member |
Executives
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period
Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Net sales |
319.6 |
225.1 |
208.3 |
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Cost of goods sold |
315.7 |
219.9 |
202.4 |
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Cost of sales |
315.7 |
219.9 |
202.4 |
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Gross profit |
4.0 |
5.3 |
6.0 |
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Total payroll costs |
2.6 |
2.4 |
2.3 |
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Change in value of fixed assets arising from revaluation |
0.0 |
0.0 |
- |
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Other operating costs |
2.8 |
1.7 |
2.0 |
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Net operating income |
- |
1.2 |
1.7 |
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Total financial income |
0.0 |
0.1 |
0.1 |
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Total expenses |
1.5 |
0.9 |
1.5 |
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Profit before tax |
- |
0.4 |
0.3 |
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Profit on ordinary activities after tax |
-2.9 |
0.4 |
0.2 |
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Extraordinary expenses |
0.3 |
0.3 |
- |
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Extraordinary result |
-0.3 |
-0.3 |
- |
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Profit after extraordinary items and before tax |
-0.3 |
-0.3 |
- |
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Total taxation |
- |
0.0 |
0.1 |
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Profit after tax |
-2.9 |
0.4 |
0.2 |
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Net profit |
- |
0.1 |
0.2 |
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Net loss |
-3.2 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Other reserves |
1.2 |
1.2 |
7.5 |
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Profit brought forward from previous year(s) |
- |
0.1 |
0.2 |
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Total stockholders equity |
-0.5 |
2.5 |
9.1 |
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Trade creditors |
19.7 |
20.3 |
8.9 |
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Total current liabilities |
57.8 |
46.9 |
28.8 |
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Total liabilities (including net worth) |
57.3 |
49.4 |
37.8 |
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Total tangible fixed assets |
0.0 |
0.0 |
- |
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Total non-current assets |
0.0 |
0.0 |
- |
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Net stocks and work in progress |
15.2 |
19.0 |
6.3 |
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Trade debtors |
31.1 |
- |
20.6 |
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Other receivables |
7.6 |
- |
4.6 |
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Total receivables |
38.8 |
29.2 |
25.2 |
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Cash and liquid assets |
3.3 |
1.3 |
6.3 |
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Total current assets |
57.3 |
49.4 |
37.8 |
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Total assets |
57.3 |
49.4 |
37.8 |
Annual Ratios
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.00 |
1.00 |
1.30 |
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Acid test ratio |
0.70 |
0.60 |
1.10 |
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Current liabilities to net worth |
-10.00% |
10.00% |
3.18% |
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Fixed assets to net worth |
-0.03% |
0.01% |
- |
|
Collection period |
38.10 |
- |
35.00 |
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Stock turnover rate |
19.70 |
12.00 |
34.20 |
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Sales to net working capital |
-541.70 |
91.40 |
23.80 |
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Asset turnover |
5.21% |
4.61% |
5.69% |
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Profit margin |
-0.01% |
0.00% |
0.00% |
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Return on assets |
-0.05% |
0.01% |
0.01% |
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Shareholders' return |
5.08% |
0.17% |
0.03% |
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Return on capital |
8.67% |
-0.44% |
-0.13% |
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Net worth |
-0.5 |
2.5 |
9.1 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
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|
1 |
Rs.91.62 |
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Euro |
1 |
Rs.78.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)