MIRA INFORM REPORT
|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MANUCHAR |
|
|
|
|
Registered Office : |
Rietschoorvelden 20 B.1, Merksem, 2170 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1970 |
|
|
|
|
Com. Reg. No.: |
407045751 |
|
|
|
|
Legal Form : |
Private Parent |
|
|
|
|
Line of Business : |
Provides Logistics Services |
|
|
|
|
No. of Employees : |
115 |
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) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Belgium - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized
on its central geographic location, highly developed transport network, and diversified
industrial and commercial base. Industry is concentrated mainly in the more
heavily-populated region of Flanders in the north. With few natural resources,
Belgium imports substantial quantities of raw materials and exports a large
volume of manufactures, making its economy vulnerable to volatility in world
markets. Roughly three-quarters of Belgium's trade is with other EU countries,
and Belgium has benefited most from its proximity to Germany. In 2011 Belgian
GDP grew by 2.0%, the unemployment rate decreased slightly to 7.7% from 8.3%
the previous year, and the government reduced the budget deficit from a peak of
6% of GDP in 2009 to 4.2% in 2011. Despite the relative improvement in
Belgium's budget deficit, public debt hovers near 100% of GDP, a factor that
has contributed to investor perceptions that the country is increasingly
vulnerable to spillover from the euro-zone crisis. Belgian banks were severely
affected by the international financial crisis in 2008 with three major banks
receiving capital injections from the government, and the nationalization of
the Belgian arm of a Franco-Belgian bank. An ageing population and rising
social expenditures are mid- to long-term challenges to public finances.
Source
: CIA
Company name
|
Manuchar |
|
|
|
||||||||||||||||||
|
Employees: |
115 |
|
Company Type: |
Private Parent |
|
Corporate
Family: |
|
|
|
|
|
Incorporation
Date: |
1970 |
|
Fiscal Year End: |
31-Dec-2011 |
|
Reporting
Currency: |
Euro |
|
Annual Sales: |
360.4 1 |
|
Total Assets: |
312.0 |
Business
Description
|
Manuchar NV (Manuchar) is a logistic service
provider, based in Belgium. It provides logistics services for various
commodities such as forest products and building materials, chemicals and
fertilizers, steel, polymers, minerals and ferro-alloys, spare parts and
mining products, pharmaceuticals, and special steel and metals. The company
also offers sourcing, marketing and sales, financing and distribution
services. Manuchar has a global presence with own subsidiaries in Africa and
the Middle East, Central America and Caribbean, North America, China, Europe,
the CIS and Central Asia, India, South America, South East Asia and Oceania.
It was founded in the year 1980. Manuchar is headquartered in Antwerp,
Belgium. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
|
|
NAICS 2002: |
|
|
UK SIC 2003: |
63129 - Other
storage and warehousing not elsewhere classified |
|
UK SIC 2007: |
52103 -
Operation of warehousing and storage facilities for land transport activities
of division 49 |
|
US SIC 1987: |
4226 - Special
Warehousing and Storage, Not Elsewhere Classified |
Key
Executives
|
News
|
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
|
||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
More Business
Descriptions |
|
|
|
|
|
Manuchar NV (Manuchar) is a logistic service provider, based in Belgium.
It provides logistics services for various commodities such as forest products
and building materials, chemicals and fertilizers, steel, polymers, minerals
and ferro-alloys, spare parts and mining products, pharmaceuticals, and special
steel and metals. The company also offers sourcing, marketing and sales,
financing and distribution services. Manuchar has a global presence with own
subsidiaries in Africa and the Middle East, Central America and Caribbean,
North America, China, Europe, the CIS and Central Asia, India, South America,
South East Asia and Oceania. It was founded in the year 1980. Manuchar is
headquartered in Antwerp, Belgium
|
|
|||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Structure
News
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Merksem |
Belgium |
Miscellaneous Transportation |
360.4 |
115 |
|
|
Subsidiary |
Monterrey, Nuevo Leon |
Mexico |
Miscellaneous Capital Goods |
23.7 |
50 |
|
|
Subsidiary |
Rio De Janeiro, Rio De Janeiro |
Brazil |
Miscellaneous Capital Goods |
40.5 |
30 |
|
|
Subsidiary |
Jakarta, Jakarta |
Indonesia |
Chemical Manufacturing |
|
30 |
|
|
Subsidiary |
Merksem |
Belgium |
Commercial Banks |
0.9 |
6 |
|
|
Subsidiary |
Merksem |
Belgium |
Miscellaneous Capital Goods |
30.5 |
|
|
|
Subsidiary |
Merksem |
Belgium |
Personal and Household Products |
19.5 |
|
|
|
Subsidiary |
Merksem |
Belgium |
Retail (Specialty) |
3.4 |
|
|
Manuchar |
|
Competitors Report |
|
CompanyName |
Location |
Employees |
Ownership |
|
Arkema SA |
Colombes, France |
14,000 |
Public |
|
Solvay S.A. |
Bruxelles, Belgium |
31,000 |
Public |
|
Tessenderlo Chemie Nv |
Brussels, Belgium |
7,500 |
Public |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||
|
|
454
multi-nationals join Jafza in 2012 |
04-Mar-2013 |
|
|||
|
|
Jafza posts 26%
rise in the number of new entrants in 2012 |
03-Mar-2013 |
|
|||
|
|
454 MNCs join
Jafz in 2012 |
03-Mar-2013 |
|
|||
|
|
Jafza in High
Growth Mode; 454 Multi-Nationals Join the Free Zone in 2012 |
03-Mar-2013 |
|
|||
|
|
01-Mar-2013 |
|
||||
|
|
MIA Puts
Expensive Vehicles up for Auction |
24-Dec-2012 |
|
|||
|
|
New firms in
Jafza grow by 28% to 347 in 9 months |
19-Dec-2012 |
|
|||
|
|
Jafza posts 32%
increase in new companies in Q3 |
19-Dec-2012 |
|
|||
|
|
Jafza Dubai
posts 32% increase in the number of new companies in Q3 |
18-Dec-2012 |
|
|||
|
|
Jafza posts 32%
increase in the number of new firms in third quarter |
18-Dec-2012 |
|
|||
|
|
Jafza 32% growth
in new companies in Q3 |
18-Dec-2012 |
|
|||
Annual
Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Turnover |
360.4 |
273.3 |
185.5 |
|
Other Operating Income |
5.5 |
4.6 |
5.0 |
|
Operating Income |
365.9 |
277.9 |
190.5 |
|
Purchases |
347.1 |
259.6 |
170.3 |
|
Increase or Decrease
in Stocks |
-2.1 |
0.0 |
-0.3 |
|
Raw Materials, Consumables, and Goods for
Release |
345.0 |
259.6 |
170.0 |
|
Services and Sundry Goods |
5.9 |
4.6 |
4.4 |
|
Remuneration, Social Security Charges, and
Pensions |
10.8 |
9.1 |
8.5 |
|
Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
0.4 |
0.4 |
0.4 |
|
Other Operating Charges |
0.0 |
0.0 |
0.0 |
|
Operating Charges |
362.2 |
273.7 |
183.3 |
|
Income From Financial Fixed Assets |
7.4 |
9.4 |
7.0 |
|
Income From Current Assets |
3.5 |
2.2 |
1.7 |
|
Other Financial Income |
3.4 |
0.0 |
0.2 |
|
Financial Income |
14.3 |
11.6 |
9.0 |
|
Interest and Other Debt Charges |
5.3 |
3.9 |
3.6 |
|
Amounts Written Off on Current Assets |
0.0 |
0.0 |
0.0 |
|
Other Financial Charges |
4.0 |
3.2 |
4.2 |
|
Financial Charges |
9.3 |
7.2 |
7.8 |
|
Gain on Disposal of Fixed Assets |
0.0 |
0.1 |
0.0 |
|
Extraordinary Income |
0.0 |
0.1 |
0.0 |
|
Amounts Written Off on Financial Fixed Assets |
0.8 |
- |
- |
|
Extraordinary Charges |
0.8 |
- |
- |
|
Income Taxes |
0.7 |
- |
0.3 |
|
Adjustment of Income Taxes and Write-Back of
Tax Provisions |
- |
0.1 |
- |
|
Income Taxes |
0.7 |
-0.1 |
0.3 |
|
Transfer from Untaxed Reserves |
0.4 |
0.8 |
0.8 |
Annual
Balance Sheet
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Intangible Assets |
0.1 |
0.1 |
0.1 |
|
Land & Buildings |
0.5 |
0.6 |
0.7 |
|
Furniture and Vehicles |
0.5 |
0.4 |
0.5 |
|
Tangible Assets |
1.0 |
1.0 |
1.2 |
|
Participating
Interests |
29.6 |
13.9 |
13.7 |
|
Affiliated Enterprises |
29.6 |
13.9 |
13.7 |
|
Participating
Interests |
- |
0.1 |
0.1 |
|
Other Enterprises
Linked by Participating Interests |
- |
- |
0.1 |
|
Amounts Receivable and
Cash Guarantees |
0.0 |
0.0 |
0.0 |
|
Other Capital Assets |
0.0 |
0.0 |
0.0 |
|
Capital Assets |
29.7 |
14.0 |
13.8 |
|
Fixed Assets |
30.8 |
15.1 |
15.1 |
|
Trade Debtors |
- |
0.7 |
1.5 |
|
Other Amounts
Receivable |
7.4 |
9.9 |
- |
|
Amounts Receivable After More Than One Year |
7.4 |
10.7 |
1.5 |
|
Raw Materials and
Consumables |
1.9 |
- |
- |
|
Goods Purchased for
Resale |
0.3 |
0.2 |
0.3 |
|
Stocks |
2.2 |
0.2 |
0.3 |
|
Inventory and Orders in Progress |
2.2 |
0.2 |
0.3 |
|
Trade Debtors |
214.3 |
175.4 |
114.9 |
|
Other Amounts
Receivable |
47.1 |
16.5 |
11.7 |
|
Amounts Receivable Within One Year |
261.4 |
191.8 |
126.6 |
|
Other Investments and
Deposits |
0.7 |
1.8 |
0.4 |
|
Investments |
0.7 |
1.8 |
0.4 |
|
Liquid Assets |
9.4 |
1.8 |
3.2 |
|
Adjustment Accounts |
0.2 |
0.2 |
0.2 |
|
Current Assets |
281.3 |
206.5 |
132.2 |
|
Total Assets |
312.0 |
221.6 |
147.3 |
|
Issued Capital |
1.3 |
1.3 |
1.4 |
|
Capital |
1.3 |
1.3 |
1.4 |
|
Gain From Revaluation of Assets |
0.1 |
0.1 |
0.2 |
|
Legal Reserve |
0.1 |
0.1 |
0.1 |
|
Untaxed Reserves |
- |
0.4 |
1.2 |
|
Reserves Available for
Distribution |
0.0 |
0.0 |
0.0 |
|
Reserves |
0.1 |
0.5 |
1.4 |
|
Capital and Reserves |
29.7 |
26.4 |
22.5 |
|
Subordinated Loans |
13.0 |
6.7 |
7.2 |
|
Credit Institutions |
3.8 |
5.0 |
1.2 |
|
Financial Debts |
16.7 |
11.7 |
8.3 |
|
Amounts Due After More Than One Year |
16.7 |
11.7 |
8.3 |
|
Current Portion of
Amounts Payable After More Than One Year |
1.4 |
1.4 |
0.9 |
|
Credit Institutions |
207.5 |
148.0 |
84.4 |
|
Financial Debts |
207.5 |
148.0 |
84.4 |
|
Suppliers |
41.1 |
26.5 |
22.7 |
|
Trade Debts |
41.1 |
26.5 |
22.7 |
|
Taxes |
0.5 |
0.2 |
1.0 |
|
Remuneration and Social
Security |
1.7 |
1.5 |
1.5 |
|
Taxes, Wages, and
Social Security |
2.3 |
1.7 |
2.5 |
|
Other Amounts Payable |
12.3 |
5.2 |
5.3 |
|
Amounts Payable Within One Year |
264.5 |
182.7 |
115.9 |
|
Adjustment Accounts |
1.1 |
0.8 |
0.6 |
|
Creditors |
282.4 |
195.2 |
124.8 |
|
Total Liabilities + Shareholders' Equity |
312.0 |
221.6 |
147.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.