MIRA INFORM REPORT
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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
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Name : |
OSWALD RIEMER
UHRENARMBANDFABRIK GMBH |
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Registered Office : |
Willibald-Popp-Strasse 2 ,Augsburg, 86179 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.12.1982 |
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Com. Reg. No.: |
8368 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject engaged in production of worked pearls; production of precious
and semi-precious stones in the worked state |
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No. of Employees : |
35 |
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 : |
Small Company |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Germany |
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 |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
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Source
: CIA |
COMPANY NAME & ADDRESS
OSWALD RIEMER
UHRENARMBANDFABRIK GMBH
Willibald-Popp-Strasse 2
Augsburg, 86179
Germany
Tel: +49
(0) 821 811020
Fax: +49 (0) 821 813946
SYNTHESIS
Employees: 35
Company Type: Private Independent
Incorporation Date: 08-Dec-1982
Financials in: USD
(mil)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 0.9
Business Description
Oswald Riemer Uhrenarmbandfabrik GmbH is primarily engaged in production
of worked pearls; production of precious and semi-precious stones in the worked
state. Included is the working of industrial quality stones and synthetic or
reconstructed precious or semi-precious stones; working of diamonds;
manufacture of jewellery of precious metal or of base metals clad with precious
metals, or precious or semi-precious stones, or of combinations of precious
metal and precious or semi-precious stones or of other materials; manufacture
of goldsmiths’ articles of precious metals or of base metals clad with
precious metals (dinnerware, flatware, hollow-ware, toilet articles, office or
desk articles, articles for religious use, etc.). This class also includes:
personalised engraving on objects of precious metals.
Industry
Industry Jewelry and
Silverware
ANZSIC 2006: 2591 - Jewellery
and Silverware Manufacturing
NACE 2002: 3622 - Manufacture
of jewellery and related articles not elsewhere classified
NAICS 2002: 339911 - Jewelry
(except Costume) Manufacturing
UK SIC 2003: 3622 - Manufacture
of jewellery and related articles not elsewhere classified
UK SIC 2007: 3212 - Manufacture
of jewellery and related articles
US SIC 1987: 3911 - Jewelry,
Precious Metal
Key Executives
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Registered
No.(DEU):8368
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD
1 = EUR 0.770327
Location
Willibald-Popp-Strasse 2
Augsburg, 86179
Germany
Tel: +49 (0) 821 811020
Fax: +49 (0) 821 813946
Sales EUR(mil): NA
Assets EUR(mil): 0.7
Employees: 35
Fiscal Year End: 31-Dec-2011
Industry: Jewelry and
Silverware
Incorporation Date: 08-Dec-1982
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No. (DEU): 8368
Managing director: Andreas Riemer
Business Description
Oswald Riemer Uhrenarmbandfabrik GmbH is primarily engaged in production
of worked pearls; production of precious and semi-precious stones in the worked
state. Included is the working of industrial quality stones and synthetic or
reconstructed precious or semi-precious stones; working of diamonds;
manufacture of jewellery of precious metal or of base metals clad with precious
metals, or precious or semi-precious stones, or of combinations of precious
metal and precious or semi-precious stones or of other materials; manufacture
of goldsmiths’ articles of precious metals or of base metals clad with
precious metals (dinnerware, flatware, hollow-ware, toilet articles, office or
desk articles, articles for religious use, etc.). This class also includes:
personalised engraving on objects of precious metals.
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Bank: Stadtsparkasse
Augsburg, Postbank (Giro)
Executives Report
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Executives |
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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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Provisions |
0.0 |
0.1 |
0.0 |
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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Issued capital |
0.0 |
0.0 |
0.0 |
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Profits for the year |
0.6 |
0.4 |
0.3 |
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Total stockholders equity |
0.7 |
0.5 |
0.3 |
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Provisions and allowances |
0.0 |
0.1 |
0.0 |
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Total long-term liabilities |
- |
0.2 |
0.2 |
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Total current liabilities |
0.2 |
0.1 |
0.2 |
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Total liabilities (including net worth) |
0.9 |
0.8 |
0.8 |
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Intangibles |
- |
- |
0.0 |
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Total tangible fixed assets |
0.1 |
0.1 |
0.0 |
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Total non-current assets |
0.1 |
0.1 |
0.0 |
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Net stocks and work in progress |
0.3 |
0.3 |
0.4 |
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Total receivables |
0.3 |
0.1 |
0.2 |
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Cash and liquid assets |
0.2 |
0.2 |
0.1 |
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Total current assets |
0.7 |
0.7 |
0.7 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
0.9 |
0.8 |
0.8 |
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 |
39.07 |
95.76 |
41.41 |
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Acid test ratio |
22.69 |
48.65 |
21.06 |
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Total liabilities to net worth |
0.03% |
0.05% |
0.12% |
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Net worth to total assets |
0.07% |
0.06% |
0.04% |
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Current liabilities to net worth |
0.03% |
0.02% |
0.05% |
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Current liabilities to stock |
0.06% |
0.02% |
0.05% |
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Fixed assets to net worth |
0.02% |
0.02% |
0.01% |
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Net worth |
0.7 |
0.5 |
0.3 |
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
|
US Dollar |
1 |
Rs.54.16 |
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UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
-- |
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.