MIRA INFORM REPORT

 

 

Report Date :

20.05.2013

 

IDENTIFICATION DETAILS

 

Name :

INTERCOMMERCIAL DIAMONDS

 

 

Registered Office :

Hoveniersstraat 30 38, Antwerpen, 2018

 

 

Country :

Belgium 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

1986

 

 

Com. Reg. No.:

428687243

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Wholesale of Other Intermediate Products

 

 

No. of Employees :

1

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Small Company

 

 

Payment Behaviour :

Slow

 

 

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 1.8%, the unemployment rate decreased slightly to 7.2% 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 and 3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%, the third consecutive quarter of negative growth. This brought economic growth for the whole of 2012 to negative 0.2%. It also left Belgium on the brink of a possible recession at the end of 2012. However, at year's end, the government appeared close to meeting its 2012 budget deficit goal of 3% of GDP. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 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 retail arm of a Franco-Belgian bank.

Source : CIA

 

Company Name address

 

Intercommercial Diamonds

 

 

 

Hoveniersstraat 30 38

 

 

Antwerpen, 2018

Belgium

 

 

Tel:

03 231 45 52

Fax:

03 232 88 80

Employees:

1

Company Type:

Private Independent

 

 

Incorporation Date:

1986

Financials in:

 USD (Mil)

Fiscal Year End:

31-Dec-2011

Reporting Currency:

Euro

Annual Sales:

0.0  1

Total Assets:

1.4

 

 

Business Description

 

Wholesale of other intermediate products

 

 

Industry

 

Industry

Retail (Department and Discount)

ANZSIC 2006:

373 - Furniture, Floor Covering and Other Goods Wholesaling

NACE 2002:

5156 - Wholesale of other intermediate products

NAICS 2002:

4239 - Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2003:

5156 - Wholesale of other intermediate products

UK SIC 2007:

4676 - Wholesale of other intermediate products

US SIC 1987:

509 - Miscellaneous Durable Goods

 

 

Key Executives

 

Name

Title

Pascal Szwarcenberg

Manager

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327

 

 

Corporate Overview

 

Location
Hoveniersstraat 30 38
Antwerpen, 2018
Belgium

 

Tel:

03 231 45 52

Fax:

03 232 88 80

 

 

Sales EUR(mil):

0.0

Assets EUR(mil):

1.1

Employees:

1

Fiscal Year End:

31-Dec-2011

 

Industry:

Retail (Department and Discount)

Incorporation Date:

1986

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(VAT):

428687243

 

Manager:

Pascal Szwarcenberg

 

 

Industry Codes

 

ANZSIC 2006 Codes:

373

-

Furniture, Floor Covering and Other Goods Wholesaling

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

NACE 2002 Codes:

5156

-

Wholesale of other intermediate products

5147

-

Wholesale of other household goods

 

NAICS 2002 Codes:

4239

-

Miscellaneous Durable Goods Merchant Wholesalers

423990

-

Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

509

-

Miscellaneous Durable Goods

5099

-

Durable Goods, Not Elsewhere Classified

 

UK SIC 2003:

5156

-

Wholesale of other intermediate products

51479

-

Wholesale of other household goods not elsewhere classified

 

UK SIC 2007:

4676

-

Wholesale of other intermediate products

46499

-

Wholesale of household goods (other than musical instruments) n.e.c.

 

 

Business Description

Wholesale of other intermediate products

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

0.0

Assets:

1.1

Current Assets:

0.9

 

Fixed Assets:

0.2

 

Total Liabilities:

1.1

 

Issued Capital:

0.0

 

Net Worth:

0.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

NA

 

 

Executives Report

 

Executives

 

Name

Title

Function

 

Pascal Szwarcenberg

 

Manager

Other

 

Age: 50

 

 

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

 

 

 

 

    Remuneration, Social Security Charges, and Pensions

0.0

0.0

0.0

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.0

0.0

0.0

    Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors

-0.1

-

0.1

    Other Operating Charges

0.0

0.0

0.0

Financial Income

0.1

0.1

0.1

Financial Charges

0.1

0.1

0.2

Extraordinary Charges

0.1

0.0

-

Income Taxes

0.0

0.0

0.0

    Employees

1

1

1

 

 

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

 

 

 

 

        Land & Buildings

-

0.3

-

        Plant, Machinery, and Equipment

0.2

-

-

        Furniture and Vehicles

0.0

0.0

0.1

        Leasing and Other Similar Rights

0.0

-

-

    Tangible Assets

0.3

0.3

0.1

    Capital Assets

0.0

0.0

0.0

Fixed Assets

0.3

0.3

0.1

        Stocks

0.6

0.6

0.5

    Inventory and Orders in Progress

0.6

0.6

0.5

        Trade Debtors

0.5

0.6

0.4

        Other Amounts Receivable

0.0

0.0

0.0

    Amounts Receivable Within One Year

0.5

0.6

0.4

    Liquid Assets

0.0

0.0

0.1

    Adjustment Accounts

0.0

0.0

0.0

Current Assets

1.1

1.3

1.1

Total Assets

1.4

1.6

1.1

        Issued Capital

0.0

0.0

0.0

    Capital

0.0

0.0

0.0

        Legal Reserve

0.0

0.0

0.0

    Reserves

0.0

0.0

0.0

Capital and Reserves

0.1

0.1

0.1

        Financial Debts

0.2

0.2

-

    Amounts Due After More Than One Year

0.2

0.2

-

        Current Portion of Amounts Payable After More Than One Year

0.0

0.0

-

        Credit Institutions

0.2

0.1

0.2

        Financial Debts

0.2

0.1

0.2

        Suppliers

0.6

0.8

0.6

        Trade Debts

0.6

0.8

0.6

        Taxes

0.0

0.0

0.0

        Remuneration and Social Security

0.0

0.0

0.0

        Taxes, Wages, and Social Security

0.0

0.0

0.0

        Other Amounts Payable

0.3

0.4

0.3

    Amounts Payable Within One Year

1.1

1.3

1.0

Creditors

1.3

1.5

1.0

Total Liabilities + Shareholders' Equity

1.4

1.6

1.1

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.89

UK Pound

1

Rs.83.66

Euro

1

Rs.70.58

 

 

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%)