MIRA INFORM REPORT

 

 

Report Date :

19.03.2013

 

IDENTIFICATION DETAILS

 

Name :

FABORY MASTERS IN FASTENERS GROUP B.V.

 

 

Registered Office :

Zevenheuvelenweg 44, 5048AN Tilburg

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

21.09.2007

 

 

Com. Reg. No.:

34283353

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Holding- en financieringsmaatschappij (Holding and finance)

 

 

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 :

Unknown

Litigation :

---

 

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)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Netherlands - ECONOMIC OVERVIEW

 

The Dutch economy is the fifth-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 of 3.8% of GDP.

 

Source : CIA

 

CONTACTINFORMATION

 

Company name

Fabory Masters in Fasteners Group B.V.

Tradename

Fabory Masters in Fasteners Group B.V.

Address

Zevenheuvelenweg 44

 

5048AN Tilburg

 

Netherlands

Mail address

Postbus 5034

 

5004EA Tilburg

 

Netherlands

Telephone number

0135941234

E-mail address

info@fabory.com 

Website

www.fabory.com

VAT number / RSIN

818483337

 

Merger/Split

Op 30-11-2011 merger taken place. New registration: BMFGH B.V., 34283353 Ceased registration: BMF Holding B.V., 34215918

 

 

COMPANY INFORMATION

 

Handelsregisternummer 34283353

Registered in                             Chamber of commerce Brabant

First registration                         04-10-2007

Act of foundation                        04-10-2007

Date of constitution                    21-09-2007

Continuation date                       04-10-2007

Last change in statutes              30-11-2011

 

Legal form

Besloten Vennootschap

Place of constitution

Tilburg

Issued capital

18.000

Paid up capital

18.000

NACE-code

Financial holding (65234)

SBI-code

Financial holding (642)

 

Financial holding (6420)

Formal objective

Holding- en financieringsmaatschappij

Employees

Total: 0

 

 

COMPANY STRUCTURE

 

Shareholder                   BMFGH Holding B.V.

Zevenheuvelenweg 44

5048AN TILBURG

Netherlands

KvK: 34285217

Active since: 19-10-2007

Percentage: 100.00%

 

Holding company           BMFGH Holding B.V.

Zevenheuvelenweg 44

5048AN TILBURG

KvK: 34285217

 

Subsidiary                     BMF Holding B.V.

Zevenheuvelenweg 44

5048AN TILBURG

KvK: 34215918

 

Affiliated companies       BMFGH Manpar B.V.

Zevenheuvelenweg 44

5048AN TILBURG

KvK: 17251408

 

 

MANAGEMENT

 

Management     O.G.J. van den Belt

Oswald Gerardus Johannes

Authorization: Fully authorized

Position: Manager

Date appointed: 15-07-2008

Date of birth: 12-03-1973

 

M.A. Pulick Jr.

Michael Anthony

Authorization: Fully authorized

Position: Manager

Date appointed: 01-07.2012

 

 

PAYMENT INFORMATION

 

Payment experiences

 

Because of limited activities, no payment experiences of any importance are known. No complaints are known.

 

 

FINANCIAL INFORMATION

 

Auditor

Ernst & Young

Publication financial statement

Annual accounts 2011 are published on 28-02-2013

 

Annual accounts 2009 are published on 21-01-2011

 

Annual accounts 2008 are published on 08-06-2009

 

Annual accounts 2007 are published on 11-03-2009

Type of publication

Corporate

Publication

Publication according to obligations by law

 

 

CORE FIGURES

 

BOOKYEAR

2011

2010

2009

Quick ratio

2,05

0,33

1,17

Current ratio

2,05

0,33

1,17

Nett workingcapital / Balance total

0,17

-0,65

0,02

Capital and reserves / Balance total

-0,29

-0,24

-0,33

Capital and reserves / Fixed assets

-0,44

-0,36

-0,39

Solvency

-0,23

-0,20

-0,50

Nett workingcapital

60.418.000

-234.886.000

3.556.000

Capital and reserves

-100.447.000

-87.523.000

-57.092.000

Change capital and reserves

-14,77%

-53,30%

-240,20%

change short term liabilities

-83,64%

1.551,99%

93,74%

Operating profit

-18.178.000

 

 

Nett Turnover

241.167.000

 

 

Profitability operating profit

negative

 

 

 

Annual accounts            The company is obligated to publish its annual accounts

Last annual accounts     2011

 

 

 

 

BALANCE

 

BOOKYEAR                                                      2011                             2010                             2009

End of bookyear                                                 31-12-2011                    31-12-2010                    31-12-2009

Intangible assets                                                167.198.000                  186.387.000                  147.827.000

Tangible assets                                                 33.541.000                    32.478.000

Financial assets                                                27.353.000                    25.897.000

Fixed assets                                                     228.092.000                  244.762.000                  147.827.000

Other amounts receivable                                   100.432.000

Accounts receivable                                           100.432.000                  89.288.000                    24.879.000

Liquid assets                                                     9.100.000                      15.777.000                    19.000

Other current assets                                          8.554.000                      12.617.000

Current assets                                                   118.086.000                  117.682.000                  24.898.000

Total assets                                                      346.178.000                  362.444.000                  172.725.000

Capital and reserves shareholder                         -101.079.000                 -88.008.000

Minority interest                                                 632.000                         485.000

Capital and reserves                                           -100.447.000                -87.523.000                   -57.092.000

Provisions                                                         14.371.000                    17.202.000                    33.035.000

Achtergestelde leningen                                                                                                             81.664.000

Financial debts                                                                                                                          81.664.000

other long term debts                                                                                                                 12.112.000

Long term liabilities                                            374.586.000                  80.197.000                    93.776.000

Total short term debt                                          57.668.000                    352.568.000                  21.342.000

Total debt                                                          446.625.000                  449.967.000                  148.153.000

Total Liabilities                                                   346.178.000                  362.444.000                  172.725.000

 

 

PROFIT & LOSS ACCOUNT

 

BOOKYEAR

2011

Nett Turnover

241.167.000

Cost of sales

176.651.000

Gross profit

64.516.000

Sales costs

65.900.000

Other operating charges

16.794.000

Operating charges

82.694.000

Operating profit

-18.178.000

Financial charges

-59.021.000

Financial result

-59.021.000

Result before taxes

-77.199.000

Income taxes

6.078.000

Result after taxes

-71.121.000

Nett result

-71.121.000

Income attributable to minority interest

25.000

 

 

History

 

Management     Per 30-09-2012 manager Jacques Louis Bienfait out of office.

Per 01-07-2012 manager Michael Anthony Pulick Jr. appointed.
Modifications     Per 30-11-2011 statutes modified. Per 1-12-2011 name changed to: Fabory Masters in

Fasteners Group B.V..

 

Company structure

• BMFGH Holding B.V. (34285217) TILBURG

o BMFGH Manpar B.V. (17251408)

TILBURG

Subsidiary (100%)

■          Stichting Administratiekantoor Condor (18091054)

TILBURG

Management relation

o Fabory Masters in Fasteners Group B.V. (34283353) Tilburg

Subsidiary (100%)

■          BMF Holding B.V. (34215918)

TILBURG

Subsidiary (100%)

■ BMF Participations B.V. (18009040)

TILBURG

Subsidiary (100%)

■ Borstlap Masters in Fasteners Group B.V. (18027267)

TILBURG

Subsidiary (100%)

■ BMF Special Projects B.V. (18065246)

TILBURG

Subsidiary (100%)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.29

UK Pound

1

Rs.81.93

Euro

1

Rs.70.01

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.