MIRA INFORM REPORT

Report Date :

25.11.2013

IDENTIFICATION DETAILS

Name :	IDAN DIAM BVBA
Registered Office :	Hoveniersstraat 51, 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2012
Date of Incorporation :	14.03.2011
Com. Reg. No.:	834525147
Legal Form :	Private Limited Company
Line of Business :	Not Available
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 :	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 31^st, 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 SUMMARY

Business number	834525147
Company name	IDAN DIAM BVBA
Address	HOVENIERSSTRAAT 51
	2018 ANTWERPEN
Number of staff	0
Date of establishment	14/03/2011
Telephone number
Fax number

Commentary

The business was established over 2 years ago.
No employees are recorded for this business.
The business has been at the address for over 2 years.
There has been no significant change in the business's credit limit.
Operating Result in the latest trading period decreased 106% on the previous trading period.
A 75% decline in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 35% compared to the previous trading period.
The business saw a decrease in their Cash Balance of 39% during the latest trading period.

Accounts

Date of latest accounts	Turnover	Profit Before Tax	Net worth	Working capital
31/12/2012		9,039	67,116	50,731
31/12/2011	6,192,425	14,074	60,136	36,706

Accounts

Date of latest accounts	Balance Total	Number of Employees	Capital	Cashflow
31/12/2012	977,097	0	50,000	12,379
31/12/2011	3,953,272	0	50,000	17,224

Trends

Profitability
Liquidity
Net worth

Payment expectations

Past payments		Payment expectation days	-
Industry average payment expectation days	-	Industry average day sales outstanding	-
Day sales outstanding	-

Court data summary

Bankruptcy details
Court action type		no
Protested bills
Bill amount		-
NSSO details
Date of summons		-
Business number	834525147		Company name	IDAN DIAM BVBA
Fax number			Date founded	14/03/2011
Company status	active		Company type	Private Limited Company (BL/LX)
Currency	Euro (€)		Date of latest accounts	31/12/2012
Activity code	-		liable for VAT
Activity description	-		VAT Number	BE.0834.525.147
Belgian Bullettin of Acts Publications	moniteur belge

Joint Industrial Committee (JIC)

comparison mode

average

Profit & loss

Annual accounts	31-12-2012	%	31-12-2011	%		Industry average	%
Weeks	52		42		-
Currency	EUR		EUR		-
Turnover	-	-	6,192,425	-	-	-	-
Total operating expenses	-	-	6,084,448	-	-	-	-
Operating result	-6,554	-106	107,978	-	-	-	-
Total financial income	230,699	144186775	0	-	-	-	-
Total financial expenses	215,105	129	93,904	-	-	-	-
Results on ordinary operations before taxation	9,039	-35.78	14,074	-	-	-	-
Taxation	2,059	-47.71	3,938	-	-	-	-
Results on ordinary operations after taxation	6,980	-31.14	10,136	-	-	-	-
Extraordinary items	0	-	0	-	-	-	-
Other appropriations	0	-	0.00	-	-	-	-
Net result	6,980	-31.14	10,136	-	-	-	-
other information
Dividends	-	-	-	-	-	-	-
Director remuneration	-	-	-	-	-	-	-
Employee costs	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-
Other employee costs	0	-	0	-	-	-	-
Amortization and depreciation	5,399	-23.83	7,088	-	-	-	-

balance sheet

Annual accounts	31-12-2012	%	31-12-2011	%		Industry average	%
Weeks	52		42		-
Currency	EUR		EUR		-
Intangible fixed assets	0	-	0	-	-	-	-
Tangible fixed assets	16,385	-30.07	23,430	-	-	-	-
Land & building	-	-	-	-	-	-	-
Plant & machinery	9,473	-9.85	10,508	-	-	-	-
Furniture & Vehicles	861	-93.34	12,922	-	-	- -	-
Leasing & Other Similar Rights	-	-	-	-	-	- -	-
Other tangible assets	6,051	-	0	-	-	-	-
Financial fixed assets	-	-	-	-	-	-	-
Total fixed assets	16,385	-30.07	23,430	-	-	-	-
Inventories	628,849	-66.57	1,881,142	-	-	-	-
Raw materials & consumables	-	-	-	-	-	-	-
Work in progress	0	-	0	-	-	-	-
Finished goods	0	-	0	-	-	-	-
Other stocks	628,849	-66.57	1,881,142	-	-	-	-
Trade debtors	294,144	-85.16	1,982,705	-	-	-	-
Cash	32,717	-39.41	53,995	-	-	-	-
other amounts receivable	1	-99	5,663	-	-	-	-
Miscellaneous current assets	5,001	-21.07	6,336	-	-	-	-
Total current assets	960,712	-75.55	3,929,842	-	-	-	-
Total Assets	977,097	-75.28	3,953,272	-	-	- -	-
current liabilities
Trade creditors	759,066	-79.61	3,723,516	-	-	-	-
Short term group loans	-	-	-	-	-	-	-
Financial debts	-	-	-	-	-	- -	-
Current portion of long term debt	-	-	-	-	-	- -	-
Amounts Payable for Taxes, Remuneration & Social Security	2,059	-61.90	5,405	-	-	- -	-
Miscellaneous current liabilities	148,856	-9.35	164,215	-	-	-	- -
Total current liabilities	909,981	-76.63	3,893,136	-	-	-	-
Long term debts and liabilities
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	-	-	-	-	-	-	- -
Deffered taxes	-	-	-	-	-	- -	-
Provisions for Liabilities & Charges	0	-	0	-	-	- -	-
Other long term liabilities	0	-	0	-	-	-	-
Total long term debts	0	-	0	-	-	-	-
shareholders equity
Issued share capital	50,000	0	50,000	-	-	-	-
Share premium account	-	-	-	-	-	-	-
Reserves	17,116	68.86	10,136	-	-	-	-
Revaluation reserve	-	-	-	-	-	-	-
Total shareholders equity	67,116	11.61	60,136	-	-	-	-
Working capital	50,731	38.21	36,706	-	-	-	-
Cashflow	12,379	-28.13	17,224	-	-	-	-
Net worth	67,116	11.61	60,136	-	-	-	-

ratio analysis

Annual accounts	31-12-2012	change(%)	31-12-2011	change(%)		Industry average	%
Trading performance
Profit Before Tax	-	-	0.23	-	-	-	-
Return on capital employed	13.47	-42.44	23.40	-	-	-	-
Return on total assets employed	0.93	158	0.36	-	-	-	-
Return on net assets employed	13.47	-42.44	23.40	-	-	-	-
Sales / net working capital	-	-	168.70	-	-	-	-
Stock turnover ratio	-	-	30.38	-	-	-	-
Debtor days	-	-	116.87	-	-	-	-
Creditor days	-	-	223.37	-	-	-	-
short term stability
Current ratio	1.06	4.95	1.01	-	-	-	-
Liquidity ratio / acid ratio	0.36	-32.08	0.53	-	-	-	-
Current debt ratio	13.56	-79.05	64.74	-	-	-	-
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	-	-	-	-	-	-	-
Equity in percentage	6.87	351	1.52	-	-	-	-
Total debt ratio	13.56	-79.05	64.74	-	-	-	-

Industry comparison

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	-
Day sales outstanding	-

Industry comparison

Industry quartile analysis

Summary

Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Protested bills

Drawee name	-
Address	-
Bill amount	-
Bill currency	-
Maturity of bill	-
Name of drawer	-
City of drawer	-

NSSO details

Business number	834525147
Name of defendant	-
Legal form of defendant	-
Date of summons	-
Labour court	-

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company

Current director details

Name	AVIV SEROR
Position	Principal Manager
Start Date	14/03/2011
Date of birth	02/04/1982
Street	33 RUBENSLEI ANTWERPEN
Post code	2018
Country	Belgium

Name	HAÏM SEROR
Position	Principal Manager
Start Date	17/08/2012
Street	5 KLADDENBERGSTRAAT EDEGEM
Post code	2650
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.02
UK Pound	1	Rs.102.04
Euro	1	Rs.84.91

INFORMATION DETAILS

Report Prepared by :

NLM

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.