MIRA INFORM REPORT

Report Date :

29.11.2013

IDENTIFICATION DETAILS

Name :	INTERSNACK PROCUREMENT B.V.
Registered Office :	Havenstraat 62, 7005AG Doetinchem
Country :	Netherlands
Date of Incorporation :	27.05.1993
Com. Reg. No.:	27160311
Legal Form :	Private Company
Line of Business :	· Trading, processing and handling of food and beverages producer of snacks including potato chips, nuts, baked products and specialty snacks.
No. of Employees :	Not Available

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 – September 30th, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
Netherlands	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Netherlands ECONOMIC OVERVIEW

The Dutch economy is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit in 2011. In 2012 tax revenues dropped nearly 9%, GDP contracted, and the budget deficit deteriorated. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent.

Source : CIA

CONTACT INFORMATION

Company name Intersnack Procurement B.V.

Tradename Intersnack Procurement B.V.

Address Havenstraat 62

7005AG Doetinchem

Netherlands

Mail address Postbus 29

7000AA Doetinchem

Netherlands

Telephone number 0314370200

Telefax number 0314370299

E-mail address unknown

Website www.intersnack.com

VAT number / RSIN 802031821

COMPANY INFORMATION

Handelsregisternummer 27160311

Registered in Chamber of commerce Centraal Gelderland

First registration 27-05-1993

Act of foundation 27-05-1993

Date of constitution 27-05-1993

Last change in statutes 20-02-2009

Legal form Besloten Vennootschap (Private Company)

Place of constitution Doetinchem

Issued capital 40.885,60

Paid up capital 40.885,60

NACE-code Street retail sale (street vending) of food (526321)

SBI-code Street retail sale (street vending) (47992)

producer of snacks including potato chips, nuts, baked products and specialty snacks.

Formal objective De handel in, het bewerken en verwerken van voedings- en genotmiddelen

(Trading, processing and handling of food and beverages)

Employees Total: 0

Employees according to CoC Chamber of commerce: 0

COMPANY STRUCTURE

Shareholder Intersnack International B.V.

Havenstraat 62

7005AG DOETINCHEM

Netherlands

KvK: 09159572

Active since: 23-12-2010

Percentage: 100.00%

Ultimate parent company Intersnack Holding Gesellschaf

Dusseldorf

990005572685

Holding company Intersnack International B.V.

Havenstraat 62

7005AG DOETINCHEM

KvK: 09159572

Affiliated companies Intersnack Netherlands B.V.

Havenstraat 62

7005AG DOETINCHEM

KvK: 27159501

Bank ABN Amro Bank NV

Rabobank Netherlands

MANAGEMENT

Management M. Leerdam

Maarten

Authorization: Fully authorized

Position: Manager

Date appointed: 31-12-2000

Date of birth: 01-02-1958

Other directorships:

- Manager: Intersnack Netherlands B.V. - Doetinchem (KvK: 27159501)

H.D. Wolf

Hans Dieter

Authorization: Fully authorized

Position: Manager

Date appointed: 31-12-2000

Date of birth: 29-10-1952

Other directorships:

- Manager: Intersnack Netherlands B.V. - Doetinchem (KvK: 27159501)

A.R.M. Endendijk

Arie Roelof Murk

Authorization: Fully authorized

Position: Managing Director

Date appointed: 14-10-2010

Date of birth: 09-06-1968

J.M. Adriaanse

Joos Marinus

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-02-2009

Date of birth: 22-07-1960

B. Feldhaus

Burkhard

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-01-2001

Date of birth: 09-08-1954

P. Muller

Pascal

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-10-2009

Date of birth: 30-03-1965

M. van Poland

Marjolein

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-12-2000

Date of birth: 14-09-1958

PAYMENT INFORMATION

Payment experiences No complaints are known

FINANCIAL INFORMATION

Annual accounts There is no financial information published

Tendency Not to be judged because of the absence of sufficient financial information

Profitability Not to be judged

Solvency Not to be judged

Liquidity Positive

Currency Euro

History

Consent statements Over bookyear 2008 a consent agreement is filed

Over bookyear 2007 a consent agreement is filed

Over bookyear 2010 a consent agreement is filed

Over bookyear 2009 a consent agreement is filed

Management Per 01-02-2009 is Proxy Joos Marinus Adriaanse appointed.

Per 01-09-2010 is Proxy Paul Jan Ritsma out of office.

Per 14-10-2010 manager Arie Roelof Murk Endendijk appointed.

Per 14-10-2010 is Proxy Arie Roelof Murk Endendijk out of office.

Per 01-10-2009 is Proxy Pascal Muller appointed.

Per 01-11-2008 is Proxy Martijn Johannes Everardus Damen out of office.

Per 31-03-2010 manager Hendrik Pieter Zijlmans out of office.

Company structure

Intersnack Holding Gesellschaf (990005572685)

Dusseldorf

Intersnack International B.V. (09159572)

DOETINCHEM

Subsidiary

Intersnack Netherlands B.V. (27159501)

DOETINCHEM

Subsidiary

Jack Klijn B.V. (09114217)

DOETINCHEM

Subsidiary (100%)

Intersnack Procurement B.V. (27160311)

Doetinchem

Subsidiary

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.39
UK Pound	1	Rs.101.80
Euro	1	Rs.84.75

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.