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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
KEDIAM |
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Registered Office : |
Hoveniersstraat 53 B.73 Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
449043286 |
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Legal Form : |
Private Independent |
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Line of Business : |
· Wholesale of waste and scrap and other products ·
Furniture, Floor Covering and Other Goods
Wholesaling |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Belgium |
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 |
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
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Source
: CIA |
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KEDIAM |
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Wholesale of other intermediate products |
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Wholesale of waste and scrap and other products Furniture, Floor Covering and Other Goods Wholesaling |
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
4669 - Wholesale of waste and scrap and other products n.e.c. |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Registered No.(VAT): 449043286
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
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Nirav
Shah Passes Away at 32 in Antwerp |
19-Mar-2013 |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Turnover |
32.6 |
37.9 |
26.6 |
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Other Operating Income |
0.0 |
0.0 |
0.0 |
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Operating Income |
32.6 |
37.9 |
26.6 |
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Purchases |
35.7 |
36.6 |
25.1 |
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Increase or Decrease in Stocks |
-4.0 |
0.4 |
0.9 |
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Raw Materials, Consumables, and Goods for Release |
31.7 |
37.0 |
25.9 |
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Services and Sundry Goods |
0.4 |
0.4 |
0.3 |
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Remuneration, Social Security Charges, and Pensions |
0.1 |
0.1 |
0.0 |
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Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors |
- |
- |
0.1 |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating Charges |
32.2 |
37.5 |
26.4 |
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Other Financial Income |
0.0 |
0.0 |
0.0 |
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Financial Income |
0.0 |
0.0 |
0.0 |
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Interest and Other Debt Charges |
0.3 |
0.2 |
0.2 |
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Other Financial Charges |
0.1 |
0.1 |
0.1 |
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Financial Charges |
0.4 |
0.3 |
0.3 |
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Gain on Disposal of Fixed Assets |
- |
0.0 |
- |
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Other Extraordinary Income |
0.0 |
- |
- |
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Extraordinary Income |
0.0 |
0.0 |
- |
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Other Extraordinary Charges |
0.0 |
- |
- |
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Extraordinary Charges |
0.0 |
- |
- |
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Income Taxes |
0.0 |
- |
0.0 |
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Adjustment of Income Taxes and Write-Back of Tax Provisions |
0.0 |
0.0 |
0.0 |
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Income Taxes |
0.0 |
0.0 |
0.0 |
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Employees |
2 |
2 |
1 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
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Land & Buildings |
0.2 |
0.2 |
0.2 |
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Plant, Machinery, and Equipment |
0.1 |
0.1 |
0.0 |
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Furniture and Vehicles |
0.0 |
0.1 |
0.1 |
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Tangible Assets |
0.3 |
0.3 |
0.3 |
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Amounts Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other Capital Assets |
0.0 |
0.0 |
0.0 |
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Capital Assets |
0.0 |
0.0 |
0.0 |
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Fixed Assets |
0.3 |
0.3 |
0.3 |
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Other Amounts Receivable |
- |
0.0 |
- |
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Amounts Receivable After More Than One Year |
- |
0.0 |
- |
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Goods Purchased for Resale |
8.1 |
3.9 |
4.4 |
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Stocks |
8.1 |
3.9 |
4.4 |
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Inventory and Orders in Progress |
8.1 |
3.9 |
4.4 |
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Trade Debtors |
8.2 |
10.2 |
7.4 |
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Other Amounts Receivable |
0.2 |
0.4 |
0.2 |
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Amounts Receivable Within One Year |
8.3 |
10.5 |
7.6 |
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Liquid Assets |
0.0 |
0.1 |
0.0 |
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Adjustment Accounts |
0.0 |
0.0 |
0.0 |
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Current Assets |
16.4 |
14.6 |
12.0 |
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Total Assets |
16.7 |
14.9 |
12.4 |
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Issued Capital |
3.0 |
2.9 |
3.0 |
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Capital |
3.0 |
2.9 |
3.0 |
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Legal Reserve |
0.0 |
0.0 |
0.0 |
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Reserves Available for Distribution |
0.1 |
0.1 |
0.1 |
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Reserves |
0.1 |
0.1 |
0.1 |
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Capital and Reserves |
3.1 |
3.0 |
3.0 |
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Credit Institutions |
0.0 |
0.0 |
0.0 |
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Other Loans |
0.8 |
0.2 |
0.2 |
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Financial Debts |
0.8 |
0.2 |
0.3 |
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Other Amounts Payable |
0.5 |
0.5 |
0.7 |
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Amounts Due After More Than One Year |
1.2 |
0.7 |
1.0 |
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Current Portion of Amounts Payable After More Than One Year |
0.0 |
0.0 |
0.0 |
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Credit Institutions |
5.9 |
6.6 |
5.1 |
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Financial Debts |
5.9 |
6.6 |
5.1 |
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Suppliers |
6.5 |
4.5 |
3.2 |
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Trade Debts |
6.5 |
4.5 |
3.2 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Remuneration and Social Security |
0.0 |
0.0 |
0.0 |
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Taxes, Wages, and Social Security |
0.1 |
0.0 |
0.0 |
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Other Amounts Payable |
- |
- |
0.0 |
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Amounts Payable Within One Year |
12.4 |
11.2 |
8.3 |
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Adjustment Accounts |
0.0 |
0.0 |
0.0 |
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Creditors |
13.7 |
11.9 |
9.3 |
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Total Liabilities + Shareholders' Equity |
16.7 |
14.9 |
12.4 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.64 |
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|
1 |
Rs. 99.20 |
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Euro |
1 |
Rs. 82.39 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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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 |
-- |
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.