MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	KOMETEX B.V.
Registered Office :	29 Leeuwerikstraat, Varsseveld 70
Country :	Netherlands
Financials (as on) :	2011
Date of Incorporation :	23.03.1984
Com. Reg. No.:	09052853
Legal Form :	Private limited liability company (BV) with ordinary structure
Line of Business :	Wholesale of hardware
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 – March, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

Company Summary

Company Name KOMETEX B.V.

Company Registration Number 09052853

Country NL

Activity Code 46741

Activity Description Wholesale of hardware

Company Status Active

Company Identification

Activities

Activity Code 46741

Activity Description Groothandel in ijzer- en metaalwaren

Basic Information

Company Name Kometex B.V.

Registered Company Name Kometex B.V.

Company Registration Number 09052853

Country NL

Date of Company Registration 23/03/1984

Commercial Court Legal Form Private limited liability company (BV) with ordinary structure

Type of Ownership Company Status Active

Principal Activity Code 46741

Principal Activity Description Wholesale of hardware

Contact Address 29 Leeuwerikstraat, VARSSEVELD 70

Contact Telephone Number 0315617171

Main Address

Address 29 Leeuwerikstraat, VARSSEVELD 7051XD

Country NL

Other Addresses

Address 29 Leeuwerikstraat, VARSSEVELD 7051XD

Telephone 0315617171

Web Addresses www.hogetex.nl

Share Capital Structure

Issued Share capital 24,300.00 (EUR)

Employee Information

Year 2011

Number of Employees 0

Year 2010

Number of Employees 0

Year 2009

Number of Employees 0

Year 2008

Number of Employees 0

Year 2007

Number of Employees 7

Financial Statements

Balance Sheet

Financial Year 2011 2010 2009

Number of Weeks 52 52 52

Currency EUR EUR EUR Consolidated Accounts False False False Total Tangible Assets 39,937.00 16,160.00 24,958.00

Investments 0.00 0.00 0.00

Total Fixed Assets 39,937.00 16,160.00 24,958.00

Total Inventories 1,040,727.00 863,196.00 809,106.00

Miscellaneous Receivables 434,139.00 464,249.00 372,598.00

Total Receivables 434,139.00 464,249.00 372,598.00

Cash 767.00 1,514.00 2,738.00

Other Current Assets 0.00 0.00 0.00

Total Current Assets 1,475,633.00 1,328,959.00 1,184,442.00

Total Assets 1,515,570.00 1,345,119.00 1,209,400.00

Miscellaneous Liabilities 427,614.00 511,511.00 380,355.00

Total Current Liabilities 427,614.00 511,511.00 380,355.00

Miscellaneous Liabilities

due after 1 year 336,240.00 155,575.00 215,972.00

Total Long Term Liabilities 336,240.00 155,575.00 215,972.00

Total Liabilities 763,854.00 667,086.00 596,327.00

Called Up Share Capital 16,336.00 16,336.00 16,336.00

Revenue Reserves 0.00 0.00 0.00

Other Reserves 735,380.00 661,697.00 596,737.00

Total Shareholders Equity 751,716.00 678,033.00 613,073.00

Other Financials

Working Capital 1,048,019.00 817,448.00 804,087.00

Net Worth 751,716.00 678,033.00 613,073.00

Ratios

Current Ratio 3.45 2.60 3.11

Liquidity Ratio/Acid Test 1.02 0.91 0.99

Current Debt Ratio 0.57 0.75 0.62

Gearing 44.73 22.95 35.23

Equity in Percentage 49.60 50.41 50.69

Total Debt Ratio 1.02 0.98 0.97

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

INFORMATION DETAILS

Report Prepared by :

SDA

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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