MIRA INFORM REPORT
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Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
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Name : |
FAMY CARE EUROPE LTD. |
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Registered Office : |
1 Wood Street,
London, EC2V 7WS |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
16.01.2008 |
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Com. Reg. No.: |
06474638 |
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Legal Form : |
Private
Subsidiary |
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Line of Business : |
Nominee for
holding licenses on behalf of famy care limited, its parent undertaking |
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No. of Employees : |
Not Available |
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 : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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Off-credit |
D |
United Kingdom ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the second
largest economy in Europe after Germany. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance, and
business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the
importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aimed to lower
London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of the euro-zone debt crisis. The CAMERON government raised the
value added tax from 17.5% to 20% in 2011. It has pledged to reduce the
corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an
asset purchase program of up to £375 billion (approximately $605 billion) as of
December 2012. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU). In 2012, weak consumer spending and
subdued business investment weighed on the economy. GDP fell 0.1%, and the
budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued
to increase.
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Source : CIA |
Company name & address
Famy Care Europe Ltd.
1 Wood Street
London, EC2V 7WS
United Kingdom
Synthesis
Employees: NA
Company Type: Private
Subsidiary
Corporate Family: 2 Companies
Ultimate Parent: Famy
Care Ltd
Quoted Status: Non-quoted Company
Incorporation
Date: 16-Jan-2008
Auditor: Knav
UK Ltd
Financials in: USD (Millions)
Fiscal Year End: 30-Jun-2012
Reporting
Currency: British Pound Sterling
Annual Sales: NA
Total Assets: 0.0
Business Description
Nominee for
holding licenses on behalf of famy care limited, its parent undertaking.
Industry
Industry
Miscellaneous Professional Services
ANZSIC 2006: 6999 - Other Professional, Scientific and
Technical Services Not Elsewhere Classified
ISIC Rev 4: 8299 - Other business support service
activities n.e.c.
NACE Rev 2: 8299 - Other business support service
activities n.e.c.
NAICS 2012: 561990 - All Other Support Services
UK SIC 2007: 8299 - Other business support service activities
n.e.c.
US SIC 1987: 7389 - Business Services, Not Elsewhere
Classified
Key Executives
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Name |
Title |
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Sanjeev Taparia |
Director |
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Ashutosh Taparia |
Director |
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6313531
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6452901
Corporate Overview
Location
1 Wood Street
London, EC2V 7WS
London County
United Kingdom
Sales GBP(mil): NA
Assets GBP(mil): 0.0
Employees: NA
Fiscal Year End: 30-Jun-2012
Industry: Business Services
Registered Address:
1 Wood Street
London, EC2V 7WS
United Kingdom
Incorporation
Date: 16-Jan-2008
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered
No.(UK): 06474638
Director: Ashutosh Taparia
Industry Codes
ANZSIC 2006
Codes:
6999 - Other
Professional, Scientific and Technical Services Not Elsewhere Classified
9539 - Other
Personal Services Not Elsewhere Classified
ISIC Rev 4 Codes:
8299 - Other
business support service activities n.e.c.
9609 - Other
personal service activities n.e.c.
NACE Rev 2 Codes:
8299 - Other
business support service activities n.e.c.
9609 - Other
personal service activities n.e.c.
NAICS 2012 Codes:
561990 - All
Other Support Services
812990 - All
Other Personal Services
US SIC 1987:
7389 - Business
Services, Not Elsewhere Classified
7299 - Miscellaneous Personal Services, Not
Elsewhere Classified
UK SIC 2007:
8299 - Other business support service
activities n.e.c.
9609 - Other personal service activities
n.e.c.
Business Description
Nominee for holding licenses on behalf of famy care
limited, its parent undertaking.
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.93 |
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UK Pound |
1 |
Rs.100.44 |
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Euro |
1 |
Rs.84.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.