MIRA INFORM REPORT

 

 

Report Date :

12.09.2013

 

IDENTIFICATION DETAILS

 

Name :

TCS 2000-HUNGARY KORLATOLT FELELOSSEGU TARSASAG

 

 

Registered Office :

1083 Budapest, Prater Utca 59

 

 

Country :

Hungary

 

 

Date of Incorporation :

13.02.2013

 

 

Com. Reg. No.:

01 09 999672

 

 

Legal Form :

Limited Liability Company (Ltd.)

 

 

Line of Business :

Wholesale of other machinery and equipment

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

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)

Hungary

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

HUNGARY - ECONOMIC OVERVIEW

 

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-27 average. The private sector accounts for more than 80% of GDP. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment worth more than $70 billion. In late 2008, Hungary's impending inability to service its short-term debt - brought on by the global financial crisis - led Budapest to obtain an IMF/EU/World Bank-arranged financial assistance package worth over $25 billion. The global economic downturn, declining exports, and low domestic consumption and fixed asset accumulation, dampened by government austerity measures, resulted in an economic contraction of 6.8% in 2009. In 2010 the new government implemented a number of changes including cutting business and personal income taxes, but imposed "crisis taxes" on financial institutions, energy and telecom companies, and retailers. The IMF/EU bail-out program lapsed at the end of the year and was replaced by Post Program Monitoring and Article IV Consultations on overall economic and fiscal processes. The economy began to recover in 2010 with a big boost from exports, especially to Germany, and achieved growth of approximately 1.7% in 2011. At the end of 2011 the government turned to the IMF and the EU to obtain financial backstop to support its efforts to refinance foreign currency debt and bond obligations in 2012 and beyond, but Budapest's rejection of EU and IMF economic policy recommendations led to a breakdown in talks with the lenders in late 2012. Since joining the EU in 2004, Hungary has been subject to the European Commission's Excessive Deficit Procedure; Brussels has requested that the government outline measures to sustainably reduce the budget deficit to under 3% of GDP. Ongoing economic weakness in Western Europe as well as lack of domestic investment and demand caused a GDP to fall 1.7% in 2012. Unemployment remained high, at more than 11%.

 

Source : CIA

company name and address


TCS 2000-HUNGARY KORLATOLT FELELOSSEGU TARSASAG
1083 Budapest, Prater Utca 59,

Hungary

E-Mail: tcs2000hu@gmail.com

 

 

Company Information

 

 

Legal form

limited liability company (Ltd.)

 

 

Established on

13/02/2013 - limited liability company (Ltd.)

Registered on

08/03/2013, Budapest, RegNr.: 01 09 999672
Tax number: 24282253-2-42
EU Community VAT identification number: HU24282253
Statistical number: 24282253
Last entry: 2013.04.19.

 

Registered capital

 

HUF

500 000,-

 

Owner

TECNO CONVERTING 2000 SRL
Via Saga utca 7N., 37024 Negrar, Italy
member of Ltd.
Person in charge for delivery:
dr. K. Zoltán Tóth
1038 Budapest, Körös utca 67.

 

 

 

 

Authorized to sign

Trombetti Giuseppe
(Mothers name: Federica Selvaggi)
Via Rossini utca 4., 37024 Negrar, Italy
manager
authorized to sign alone
Person in charge for delivery:
dr. K. Zoltán Tóth
1038 Budapest, Körös utca 67.

General data

Main activity:
Wholesale of other machinery and equipment

 

 

 

Full name:
TCS 2000-Hungary Korlátolt Felelősségű Társaság

 

Short name:
TCS 2000-Hungary Kft.

 

 

General contacts:
E-Mail:
tcs2000hu@gmail.com

 

Residence address:
1083 Budapest, Práter utca 59.

 

Other activities

 

TEÁOR 2008 (NACE rev. 2):

 

 

 

Repair of machinery

 

Wholesale of other office machinery and equipment

 

 

Retail sale via stalls and markets of other goods

 

Employees

04/09/2013

0 no employee

 

Annual turnover

still no numerical data

Balance sheets

The company is newly established so balance sheet has not been prepared yet.

 

Remarks

There is no registered phone number belonging to the company or its directors in the database of directory enquiries.

Bank relations

UniCredit Bank Hungary Zrt. Head Office:
Central address: HU Budapest Szabadság tér 5-6.
Account number: 109180010000003913680013
Account number: 109180010000003913680006

 

Company development

The company is under development

(1)

Terms of payment

No payment experiences yet

(1)

 

Business connection

The company is under development

(1)

 

Number of queries

Duration

Queries

4 weeks

0

4 - 8 weeks

0

8 weeks - 12 months

0


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.100.47

Euro

1

Rs.84.65

 

 

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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