MIRA INFORM REPORT
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Report Date : |
04.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADIAM |
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Registered Office : |
Hoveniersstraat
30 B.132, 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 : |
01.07.1986 |
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Com. Reg. No.: |
429050202 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
Exporter and
wholesale distributor of diamonds |
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No. of Employees |
02 (31.12.2012) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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
2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from
7.6% the previous year, and the government reduced the budget deficit from a
peak of 6% of GDP in 2009 to 3.2%. 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 |
Company
name & address
Adiam
Hoveniersstraat
30 B.132
Antwerpen, 2018
Belgium
Tel: 03 226 03 89
Fax: 03 226 10 92
Synthesis
Employees: 02 (31.12.2012)
Company Type: Private
Independent Company
Incorporation
Date: 01.07.1986
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting Currency: Euro
Annual Sales: 52.6 1
Total Assets: 46.7
Business Description
Exporter and wholesale distributor of diamonds
Industry
Industry
Miscellaneous Wholesale
ANZSIC 2006: 3732 - Jewellery and Watch Wholesaling
ISIC Rev 4: 4649 - Wholesale of other household
goods
NACE Rev 2: 4648 - Wholesale of watches and jewellery
NAICS 2012: 423940 - Jewelry, Watch, Precious Stone,
and Precious Metal Merchant Wholesalers
UK SIC 2007: 4648 - Wholesale of watches and jewellery
US SIC 1987: 5094 - Jewelry, Watches, Precious Stones,
and Precious Metals
Key
Executives
|
Name |
Title |
|
Amit Jagdish Mehta |
Chairman/Managing Director,
Partner |
|
Sanjiv Sevantibhal Mehta |
Administrator, Partner |
|
Ritesh Dinesh Mehta |
Administrator |
|
Stefaan Paul Maria Beirens |
Representative/Auditor |
|
Ann Maria Oscarine Van Vlaenderen |
Representative/Auditor |
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7566
Corporate Overview
Location
Hoveniersstraat
30 B.132
Antwerpen, 2018
Belgium
Tel: 03
226 03 89
Fax: 03
226 10 92
Sales EUR(mil): 41.0
Assets EUR(mil): 35.4
Employees: 02 (31.12.2012)
Fiscal Year End: 31-Dec-2012
Industry: Jewelry and Silverware
Incorporation
Date: 01.07.1986
Company Type: Private Independent Company
Quoted Status: Not Quoted
Registered
No.(VAT): 429050202
Chairman/Managing
Director, Partner:
Amit Jagdish
Mehta
Industry Codes
ANZSIC 2006
Codes:
3732 - Jewellery
and Watch Wholesaling
ISIC Rev 4 Codes:
4649 - Wholesale
of other household goods
NACE Rev 2 Codes:
4648 - Wholesale of watches and jewellery
NAICS 2012 Codes:
423940 - Jewelry, Watch, Precious Stone, and
Precious Metal Merchant Wholesalers
US SIC 1987:
5094 - Jewelry, Watches, Precious Stones, and
Precious Metals
UK SIC 2007:
4648 - Wholesale of watches and jewellery
Business Description
Exporter and wholesale distributor of diamonds
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Executive report
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Board of Directors |
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Chairman/Managing Director, Partner |
Chairman |
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Executives |
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Chairman/Managing Director, Partner |
Managing Director |
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Administrator, Partner |
Administration Executive |
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Administrator |
Administration Executive |
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Representative/Auditor |
Accounting Executive |
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Representative/Auditor |
Accounting Executive |
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Annual Profit & Loss
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
|
Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
|
Consolidated |
No |
No |
No |
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Turnover |
52.6 |
127.2 |
77.8 |
|
Increase or Decrease in Stocks of Finished
Goods, and Orders in Progress |
0.3 |
- |
- |
|
Other Operating Income |
0.2 |
0.3 |
0.1 |
|
Operating Income |
53.2 |
127.5 |
77.9 |
|
Purchases |
48.5 |
129.3 |
74.9 |
|
Increase
or Decrease in Stocks |
3.1 |
-4.5 |
-0.1 |
|
Raw Materials, Consumables, and
Goods for Release |
51.5 |
124.8 |
74.8 |
|
Services and Sundry Goods |
0.8 |
1.0 |
0.8 |
|
Remuneration, Social Security
Charges, and Pensions |
0.1 |
0.1 |
0.1 |
|
Depreciation of and Other Amounts Written
Off of Formation Expense, Intangible and Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
|
Increase or Decrease in Amounts
Written Off Stocks, Orders, and Trade Debtors |
-0.1 |
- |
0.6 |
|
Other Operating Charges |
0.1 |
0.0 |
0.0 |
|
Operating Charges |
52.5 |
126.0 |
76.3 |
|
Income From Current Assets |
0.0 |
0.0 |
0.0 |
|
Other Financial Income |
3.6 |
5.3 |
4.1 |
|
Financial Income |
3.6 |
5.3 |
4.1 |
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Interest and Other Debt Charges |
0.4 |
0.8 |
0.6 |
|
Other Financial Charges |
3.5 |
5.6 |
4.8 |
|
Financial Charges |
4.0 |
6.4 |
5.3 |
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Gain on Disposal of Fixed Assets |
0.0 |
- |
- |
|
Extraordinary Income |
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 |
0.0 |
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Adjustment of Income Taxes and
Write-Back of Tax Provisions |
0.0 |
0.0 |
- |
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Income Taxes |
0.0 |
0.0 |
0.0 |
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To the
Legal Reserve |
- |
- |
0.0 |
|
To Other
Reserves |
0.2 |
0.3 |
0.3 |
|
Transfers to Capital and Reserves |
0.2 |
0.3 |
0.3 |
|
Administrators
or Managers |
0.2 |
0.2 |
0.1 |
|
Profit to be Distributed |
0.2 |
0.2 |
0.1 |
|
Employees |
2 |
2 |
3 |
Annual Balance Sheet
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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|
Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
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|
|
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|
Land &
Buildings |
0.2 |
0.2 |
0.2 |
|
Plant,
Machinery, and Equipment |
0.0 |
0.0 |
0.1 |
|
Furniture
and Vehicles |
0.0 |
0.0 |
0.1 |
|
Tangible Assets |
0.2 |
0.2 |
0.3 |
|
Amounts
Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
|
Other
Capital Assets |
0.0 |
0.0 |
0.0 |
|
Capital Assets |
0.0 |
0.0 |
0.0 |
|
Fixed Assets |
0.2 |
0.2 |
0.3 |
|
Other
Amounts Receivable |
0.0 |
0.0 |
0.0 |
|
Amounts Receivable After More Than
One Year |
0.0 |
0.0 |
0.0 |
|
Work in
Progress |
0.3 |
- |
- |
|
Goods
Purchased for Resale |
18.2 |
21.0 |
17.4 |
|
Stocks |
18.5 |
21.0 |
17.4 |
|
Inventory and Orders in Progress |
18.5 |
21.0 |
17.4 |
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Trade
Debtors |
27.2 |
17.3 |
23.3 |
|
Other
Amounts Receivable |
0.8 |
0.7 |
0.6 |
|
Amounts Receivable Within One Year |
28.0 |
17.9 |
23.9 |
|
Liquid Assets |
0.0 |
0.4 |
0.7 |
|
Adjustment Accounts |
0.0 |
0.0 |
0.0 |
|
Current Assets |
46.5 |
39.3 |
42.0 |
|
Total Assets |
46.7 |
39.5 |
42.4 |
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Issued
Capital |
4.9 |
4.8 |
4.9 |
|
Capital |
4.9 |
4.8 |
4.9 |
|
Legal
Reserve |
0.5 |
0.5 |
0.5 |
|
Other |
8.8 |
8.7 |
9.0 |
|
Reserves
Not Available for Distribution |
8.8 |
8.7 |
9.0 |
|
Reserves
Available for Distribution |
0.9 |
0.7 |
0.5 |
|
Reserves |
10.3 |
9.9 |
10.0 |
|
Capital and Reserves |
15.1 |
14.7 |
14.9 |
|
Credit
Institutions |
- |
0.0 |
0.0 |
|
Financial
Debts |
- |
0.0 |
0.0 |
|
Other
Amounts Payable |
11.3 |
11.3 |
11.3 |
|
Amounts Due After More Than One
Year |
11.3 |
11.3 |
11.3 |
|
Current
Portion of Amounts Payable After More Than One Year |
0.0 |
0.0 |
0.0 |
|
Credit
Institutions |
13.1 |
10.2 |
11.6 |
|
Financial
Debts |
13.1 |
10.2 |
11.6 |
|
Suppliers |
7.0 |
3.1 |
3.5 |
|
Trade
Debts |
7.0 |
3.1 |
3.5 |
|
Taxes |
0.0 |
0.0 |
0.0 |
|
Remuneration
and Social Security |
0.0 |
0.0 |
0.0 |
|
Taxes,
Wages, and Social Security |
0.0 |
0.1 |
0.0 |
|
Other
Amounts Payable |
0.2 |
0.2 |
0.1 |
|
Amounts Payable Within One Year |
20.3 |
13.5 |
15.3 |
|
Adjustment Accounts |
0.0 |
0.0 |
0.7 |
|
Creditors |
31.6 |
24.8 |
27.4 |
|
Total Liabilities + Shareholders' Equity |
46.7 |
39.5 |
42.4 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.12 |
|
UK Pound |
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.82.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
|
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 |
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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.