|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
RISING STAR BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2 Antwerpen
2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
22.02.2005 |
|
|
|
|
Com. Reg. No.: |
872384247 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
01 |
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 : |
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 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
RISING STAR BVBA
|
Company Name RISING STAR BVBA Company Registration 872384247 Number |
|
Country BE |
|
Activity Code 46761 Activity Description Wholesale of diamonds and other precious stones |
|
Company Status Active Latest Turnover 61,976,350.00 (EUR) |
|
Latest Shareholders Equity 2,389,019.00 (EUR) |
Activities
Activity Code 46761
Activity Description Wholesale of diamonds and other precious stones
Company Name RISING STAR BVBA
Registered Company Name RISING STAR BVBA
Company Registration Number 872384247
Country BE
VAT Registration Number BE.0872.384.247
Date of Company Registration 22/02/2005
Date of Starting Operations 22/02/2005
Legal Form Private Limited Company (BL/LX)
Company Status Active
Principal Activity Code 46761
Principal Activity Description Wholesale
of diamonds and other precious
stones
Contact Address HOVENIERSSTRAAT 2
ANTWERPEN 2018
Contact Telephone Number 03/2132077
Address HOVENIERSSTRAAT 2 ANTWERPEN 2018
Country BE
Telephone 03/2132077
Address 9 SCHUPSTRAAT, ANTWERPEN 2018
Country BE
Name BHUPESH VADILAL SHAH
Address 15 VAN EYCKLEI ANTWERPEN
Position Principal Manager
Date Appointed 03/08/2010
Issued Share capital 2,026,795.16 (EUR)
Year 2012
Number of Employees 1
PROFIT & LOSS
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 61,976,350.00 29,612,836.00 23,863,755.00
Operating Costs 61,628,336.00 29,479,334.00 23,814,060.00
Operating Profit 348,014.00 133,502.00 49,695.00
Wages & Salaries 12,777.00 16,648.00 2,523.00
Pension Costs 0.00 0.00 0.00
Depreciation 40,805.00 21,267.00 7,310.00
Financial Income 51,856.00 67,920.00 25,091.00
Financial Expenses 303,708.00 149,265.00 27,772.00
Profit Before Tax 96,162.00 52,158.00 47,014.00
Tax 13,619.00 2,087.00 5,591.00
Profit After Tax 82,543.00 50,071.00 41,423.00
Dividends 0.00 0.00 0.00
Other Appropriations -2,837.00 648.00 0.00
Retained Profit 79,706.00 50,719.00 41,424.00
BALANCE SHEET
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings 442,807.00 485,802.00 480,938.00
Plant & Machinery 141,569.00 105,404.00 2,042.00
Other Tangible Assets 38,962.00 41,733.00 5,275.00
Total Tangible Assets 623,338.00 632,939.00 488,255.00
Other Intangible Assets 0.00 0.00 0.00
Total Intangible Assets 0.00 0.00 0.00
Miscellaneous Fixed Assets 0.00 0.00 0.00
Total Other Fixed Assets 0.00 0.00 0.00
Total Fixed Assets 623,338.00 632,939.00 488,255.00
Raw Materials 0.00 0.00 0.00
Work in Progress 0.00 0.00 0.00
Finished Goods 619,115.00 42,505.00 134,367.00
Other Inventories 0.00 0.00 0.00
Total Inventories 619,115.00 42,505.00 134,367.00
Trade Receivables 14,755,582.00 6,010,746.00 5,497,678.00
Miscellaneous Receivables 6,905.00 6,873.00 1,244.00
Total Receivables 14,762,486.00 6,017,619.00 5,498,922.00
Cash 620,544.00 12,594.00 49,602.00
Other Current Assets 2,068.00 714.00 116.00
Total Current Assets 16,004,213.00 6,073,432.00 5,683,007.00
Total Assets 16,627,551.00 6,706,371.00 6,171,262.00
Trade Payables 8,445,986.00 1,774,598.00 2,747,966.00
Other Loans/Finance 4,227,268.00 1,941,699.00 451,118.00
Miscellaneous Liabilities 321,167.00 1,001,572.00 964,700.00
Total Current Liabilities 12,994,421.00 4,717,869.00 4,163,784.00
Other Loans/Finance 1,244,110.00 203,634.00 328,300.00
due after 1 year
Miscellaneous Liabilities 0.00 0.00 0.00
due after 1 year
Total Long Term Liabilities 1,244,110.00 203,634.00 328,300.00
Total Liabilities 14,238,531.00 4,921,503.00 4,492,084.00
Called Up Share Capital 2,026,795.00 1,566,510.00 1,516,853.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 362,224.00 218,358.00 162,325.00
Other Reserves 0.00 0.00 0.00
Total Shareholders Equity 2,389,019.00 1,784,868.00 1,679,178.00
Other Financials
Working Capital 3,009,792.00 1,355,563.00 1,519,223.00
Net Worth 2,389,019.00 1,784,868.00 1,679,178.00
Pre-Tax Profit Margin 0.16 0.18 0.20
Return on Capital Employed 2.65 2.62 2.34
Return on Total 0.58 0.78 0.76
Assets
Return on Net Assets Employed 4.03 2.92 2.80
Sales/Net Working Capital 20.59 21.85 15.71
Stock Turnover Ratio 1.00 0.14 0.56
Debtor Days 86.90 74.09 84.09
Creditor Days 50.02 21.97 42.12
Current Ratio 1.23 1.29 1.36
Liquidity Ratio/Acid Test 1.18 1.28 1.33
Current Debt Ratio 5.44 2.64 2.48
Gearing 229.02 120.20 46.42
Equity in Percentage 14.37 26.61 27.21
Total Debt Ratio 5.96 2.76 2.68
NSSO DETAILS
Business Number 872384247
N
ame of Defendant Rising Star BVBA
Legal Form of Defendant Private Limited Company (BL/LX)
Date of Summons 03/10/2011
Labour Court Antwerpen
LEGAL EVENTS
Legal Event Type Social Security Summons Level Event Sub Type
Event Date 03/10/2011 Secondary Event Date
Court Type Employment Court Court Name Antwerpen
3rd Party Name Rijksdienst voor Sociale Zekerheid 3rd Party Address
3rd Party Type Summoning Party
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.