MIRA INFORM REPORT

 

 

Report Date :

14.05.2013

 

IDENTIFICATION DETAILS

 

Name :

J. BÜNTING TEEHANDELSHAUS GMBH & COMP.

 

 

Registered Office :

Brunnenstr. 37, D 26789 Leer

 

 

Country :

Germany

 

 

Year of Establishments:

1806

 

 

Com. Reg. No.:

HRA 110294

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Wholesaler of tobacco

Wholesaler of coffee, tea, cocoa and spices

 

 

No. of Employees :

75

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

 

 

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)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. 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 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. 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 electricity generating capacity and 46% of its base-load electricity production.

 

 

Source : CIA

Company name

 

J. Bünting Teehandelshaus GmbH & Comp.

                   

 

Company aDDRESS

 

Brunnenstr. 37

D 26789 Leer

Telephone:0491/8080

Telefax:  0491/808164

Homepage: www.buenting-tee.de

E-mail:   info@thh.buenting.de

 

 

Company Status

 

active

 

 

VAT no.       

 

DE117264275

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:      1806

 Registered on:             03.01.1983

 Register of

 companies:                  Local court 26603 Aurich

 under:                          HRA 110294

 Total cap. contribution:  EUR          1,278,229.70

 

Limited partner

 

J. Bünting Beteiligungs AG

Brunnenstr. 37

D 26789 Leer

Legal form: Public limited company

Share capital:     EUR         40,000,000.00

Share:             EUR          1,278,229.70

Registered on: 17.11.1989

Reg. data: 26603 Aurich, HRB 110337

 

 

General partner

 

J. Bünting Teehandelshaus Gesellschaft mit

beschränkter Haftung

Brunnenstr. 37

D 26789 Leer

Legal form: Private limited company

Share capital:     EUR             26,000.00

Registered on: 30.11.1982

Reg. data: 26603 Aurich, HRB 110168

 

 

Shareholder

 

J. Bünting Beteiligungs AG

Brunnenstr. 37

D 26789 Leer

Legal form: Public limited company

Share capital:     EUR         40,000,000.00

Share:             EUR             26,000.00

Registered on: 17.11.1989

Reg. data: 26603 Aurich, HRB 110337

 

 

Manager

 

Bernd Hölzer

D 26789 Leer

born: 30.07.1954

Profession: Businessman

 

 

Proxy

 

Egbert Kolthoff

D 26789 Leer

authorized to jointly represent the company

born: 30.06.1959

 

 

COMPANY HISTORY

 

1806 - 03.01.1983        Johann Buenting

                          D 26789 Leer

                          Unregistered commercial enterprise

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

·         46350   Wholesale of tobacco

·         46370   Wholesale of coffee, tea, cocoa and spices

 

 

PARTICIPATIONS

 

Shareholder:

                      J. Bünting Coloniale GmbH

                      Brunnenstr. 37

                      D 26789 Leer

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            100,000.00

                      Share:             EUR            100,000.00

                      Reg. data:  02.03.2010

                                  Local court 26603 Aurich

                                  HRB 201462

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:    We have no negative information at hand.

 

 

REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Brunnenstr. 37

                                    D 26789 Leer

 

 Real Estate of:             J. Bünting Teehandelshaus Gesellschaft mit

                                    beschränkter Haftung

 

 Type of ownership:       Tenant

 Address                       Brunnenstr. 37

                                    D 26789 Leer

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

DEUTSCHE BANK, LEER (OSTFRIESLAND)

Sort. code: 28570092, BIC: DEUTDEHB285

 

Further banks

BREMER LANDESBANK, BREMEN

Sort. code: 29050000, BIC: BRLADE22XXX

 

OSTFRIESISCHE VOLKSBANK LEER, LEER (OSTFRIESLAND)

Sort. code: 28590075, BIC: GENODEF1LER

 

BUNDESBANK EH LEER, OLDENBURG (OLDB)

Sort. code: 28500000, BIC: MARKDEF1285

 

 

FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 Turnover:            2011               EUR         66,500,000.00

                      2012               EUR         66,550,000.00

 further business figures:

 Equipment:                              EUR            525,000.00

 Ac/ts receivable:                       EUR          1,650,000.00

 Liabilities:                            EUR          2,925,000.00

 Employees:                                                     75

 - thereof permanent staff:                                     75

 

The aforementioned business figures may partly be estimated information based on average values in the line of business.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.92

UK Pound

1

Rs.84.44

Euro

1

Rs.71.32

 

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.