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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
M & MOLT TREND SHOP GMBH |
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Registered Office : |
Bollwerkstr. 5, D 24790 Schacht-Audorf |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.01.1996 |
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Com. Reg. No.: |
HRB 1640 RD |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of clocks and watches and
jewelry |
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No. of Employees : |
05 |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
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 |
M & Molt Trend Shop GmbH
Bollwerkstr. 5
D 24790 Schacht-Audorf
Telephone:04331/437270
Telefax:
04331/4372719
Homepage: www.m-molt.de
E-mail:
info@m-molt.de
DE177611150
active
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 02.01.1996
Begin of business
activities: 02.01.1996
Shareholders'
agreement: 02.01.1996
Registered on: 21.02.1996
Commercial Register: Local court 24114 Kiel
under: HRB
1640 RD
Share capital: EUR 51,200.00
Sönke Molt
Bollwerkstr. 5
D 24790 Schacht-Audorf
born: 10.07.1965 in Itzehoe
Share: EUR 51,200.00
Sönke Molt
Bollwerkstr. 5
D 24790 Schacht-Audorf
having sole power of representation
born: 10.07.1965 in Itzehoe
Profession: Businessman
Marital status: married
Further
functions/participations of Sönke Molt (Manager)
Proprietor:
Sönke Molt
Bollwerkstr. 5
D 24790 Schacht-Audorf
Legal form: Unregistered
commercial
enterprise
12.12.2003 - 04.07.2005 Molt Schmuckgroßhandel GmbH
Büssenbarg 16
D 24594 Tappendorf
Private limited
company
04.07.2005 - 06.04.2006 M & Molt Trend Shop GmbH
Büssenbarg 16
D 24594 Tappendorf
Private limited
company
07.04.2006 - 31.12.2010 M & Molt Trend Shop GmbH
Kieler Str. 36
D 24594 Hohenwestedt
Private limited company
Main industrial sector
46480
Wholesale of clocks and watches and jewelry
Secondary industrial sector
47770
Retail sale of clocks, watches and jewelry
Works:
M + Molt Trend Shop GmbH
Strandpromenade 36
D 18609 Ostseebad Binz
Works:
M & Molt Trend Shop
Im Bad 38
D 25826 Sankt
Peter-Ording
Works:
M + Molt Trend Shop
GmbH
Kurpromenade 1
D 23669 Timmendorfer
Strand
Works:
M & Molt Trend Shop
GmbH
Strandstr. 11
D 26548 Norderney
Works:
M & Molt Trend Shop
GmbH
Wehrbergsweg 4-6
D 27476 Cuxhaven
Payment experience: within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Bollwerkstr.
5
D 24790 Schacht-Audorf
Land register documents were not
available.
VOLKSBANK-RAIFFEISENBANK IM KREIS
RENDSBURG (GF P2), RENDSBURG
Sort. code: 21463603, BIC: GENODEF1NTO
Turnover: 2011 EUR 708,500.00
Profit: 2011 EUR 3,585.00
Ac/ts
receivable:
EUR 329,911.00
Liabilities: EUR 340,519.00
Employees:
5
The aforementioned business figures may
partly be estimated information based on average values in the line of
business.
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 22.81
Liquidity ratio: 0.97
Return on total capital [%]: 0.81
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 24.11
Liquidity ratio: 0.89
Return on total capital [%]: -0.58
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 22.91
Liquidity
ratio: 0.80
Return on total capital [%]: 0.80
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 25.00
Liquidity ratio: 0.47
Equity
ratio
The equity ratio indicates the portion of
the equity as compared
to the total capital. The higher the
equity ratio, the better the
economic stability (solvency) and thus the
financial autonomy of
a company.
Liquidity
ratio
The liquidity ratio shows the proportion
between adjusted
receivables and net liabilities. The
higher the ratio, the lower
the company's financial dependancy from
external creditors.
Return
on total capital
The return on total capital shows the
efficiency and return on
the total capital employed in the company.
The higher the return
on total capital, the more economically
does the company work
with the invested capital.
Type of balance sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS
EUR 441,480.99
Fixed assets
EUR 1,020.00
Tangible assets
EUR 1,020.00
Other / unspecified tangible assets
EUR 1,020.00
Current assets
EUR 440,460.99
Stocks
EUR 109,741.00
Accounts receivable
EUR 329,910.59
Other debtors and assets
EUR 329,910.59
Liquid means
EUR 809.40
LIABILITIES EUR 441,480.99
Shareholders' equity
EUR 100,717.04
Capital
EUR 51,200.00
Subscribed capital (share capital)
EUR 51,200.00
Balance sheet profit/loss (+/-)
EUR 49,517.04
Profit / loss brought forward
EUR 45,931.87
Annual surplus / annual deficit
EUR 3,585.17
Provisions
EUR 244.90
Liabilities
EUR 340,519.05
Other liabilities
EUR 340,519.05
Unspecified other liabilities
EUR 340,519.05
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 402,809.53
Fixed assets EUR 2,512.00
Tangible assets
EUR 2,512.00
Other / unspecified tangible assets
EUR 2,512.00
Current assets
EUR 400,297.53
Stocks EUR 127,120.79
Other / unspecified stocks
EUR 127,120.79
Received advance payments for orders
(depreciated on the assets side)
EUR -8,500.00
Accounts receivable EUR 272,493.46
Other debtors and assets
EUR 272,493.46
Liquid means
EUR 683.28
LIABILITIES EUR 402,809.53
Shareholders' equity
EUR 97,131.87
Capital
EUR 51,200.00
Subscribed capital (share capital)
EUR 51,200.00
Balance sheet profit/loss (+/-)
EUR 45,931.87
Profit / loss brought forward
EUR 48,284.42
Annual surplus / annual deficit
EUR -2,352.55
Liabilities
EUR 305,677.66
Other liabilities
EUR 305,677.66
Unspecified other liabilities
EUR 305,677.66
DIAMOND INDUSTRY – INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
UK Pound |
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.