MIRA INFORM REPORT

 

 

Report Date :

01.08.2014

 

IDENTIFICATION DETAILS

 

Name :

W.G. VAN DER ZANDEN B.V.

 

 

Registered Office :

3194AC Hoogvliet Rotterdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.01.1989

 

 

Com. Reg. No.:

24173438

 

 

Legal Form :

Private Company

 

 

Line of Business :

·         Wholesale of jeweller's articles

·         Wholesale of other non-food consumer goods

·         Wholesale of other household items

 

 

No. of Employees

20

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract

 

Source : CIA

 

 

 

Company name and address

 

Company name           W.G. VAN DER ZANDEN B.V.

Operative address       Oppermanstraat 33

3194AC Hoogvliet Rotterdam

Netherlands

 

Legal form                   Private Company

Registration number    KvK-nummer: 24173438

VAT-number                007206550

 

 

Year

2013

 

Mutation

2012

 

Mutation

2011

Fixed assets

3.373.980

 

2,72

3.284.505

 

0,71

3.261.489

Total receivables

1.575.572

4

-30,57

2.269.247

 

31,27

1.728.655

 

Total equity

1.860.033

 

-14,37

2.172.057

 

50,67

1.441.559

Short term liabilities

2.218.150

 

28,07

1.731.947

 

8,49

1.596.418

 

Working capital

1.265.553

 

-32,00

1.861.052

 

38,10

1.347.570

Quick ratio

1,00

4

-30,07

1,43

 

21,19

1,18

 

 

 

Contact information

 

Company name           W.G. van der Zanden B.V.

Trade names               W.G. van der Zanden B.V.

Operative address       Oppermanstraat 33

3194AC Hoogvliet Rotterdam

Netherlands

 

Correspondence address         Postbus 275

3190AG Hoogvliet Rotterdam

Netherlands

Telephone number                  0104365033

Fax number                             0104361389

Email address                          m.kornmann@wgzanden.com

Website                                   www.wgzanden.com

 

 

Registration

 

Registration number    KvK-nummer: 24173438

Branch number            000016783050

VAT-number                007206550

Status                          Active

 

First registration company register      1989-01-11

Memorandum                                      1988-12-29

Establishment date                              1894-09-01

Legal form                                           Private Company

 

 

Activities

 

SBI       Wholesale of jeweller's articles (4648)

Wholesale of other non-food consumer goods n.e.c. (46499)

Wholesale of other household items (464992)

Non-specialised wholesale of consumer goods (46901)

 

Exporter No

Importer No

Goal The wholesale trade in household items, catering items, sporting goods, hardware,
steel wares, especially for the benefit of shipping, as well as participate in; wholesale
watches and jewelry.

 

Relations

 

SHAREHOLDERS

 

J. van Doorn Beheer B.V.

Soetendaalseweg 98

3036EV ROTTERDAM

Netherlands

Registration number: 242474800000

Percentage: 100%

 

Companies on same address

 

J. van Doorn B.V.

Registration number: 241173420000

 

Schenker BV

Registration number: 241766540000

 

Slivar B.V.

Registration number: 241412770000

 

Wilson Logistics Rotterdam B.V.

Registration number: 241937090000

 

Geodis Wilson Netherlands B.V.

Registration number: 241937090002

 

 

Management

 

Active management

 

J. van Doorn Beheer B.V.

Soetendaalseweg 98

3036EV ROTTERDAM

Netherlands

Registration number: 242474800000

Competence: Fully authorized

Function: Manager

Starting date: 2001-03-22

 

M.H. Kornmann (Mickel Hermann)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2008-10-01

Date of birth: 1962-08-25, Rotterdam, NL

 

 

Employees

 

Year     2014     2013     2012    2011     2010

Total     20         20         15         15         15

 

 

 

Key figures

 

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,00

1,43

1,18

0,98

1,11

Current ratio

1,57

2,07

1,84

1,40

1,61

 

Working capital/ balance total

0,18

0,27

0,22

0,11

0,18

 

Year

2013

2012

2011

2010

2009

Equity / balance total

0,27

0,32

0,23

0,29

0,30

Equity / Fixed assets

0,55

0,66

0,44

0,45

0,57

Equity / liabilities

0,37

0,46

0,30

0,40

0,44

Balance total / liabilities

1,37

1,46

1,30

1,40

1,44

 

Working capital

1.265.553

1.861.052

1.347.570

785.945

992.904

Equity

1.860.033

2.172.057

1.441.559

2.144.221

1.724.455

Mutation equity

-14,37

50,67

-32,77

24,34

-19,91

Mutation short term liabilities

28,07

8,49

-18,07

19,65

28,08

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 1.265.553 euro, which is in

agreement with 18 % of the total assets of the company.

The working capital has diminished with -32 % compared to previous year. The ratio, with

respect to the total assets of the company has however, declined.

The deterioration between 2012 and 2013 has mainly been caused by an increase of the

current liabilities.

 

The current ratio of the company in 2013 was 1.57. A company with a current ratio between

1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2013 of the company was 1. A company with a Quick Ratio of more than 1

can currently pay back its current liabilities.

The 2012 financial result structure is a postive working captial of 1.861.052 euro, which is in

agreement with 27 % of the total assets of the company.

The working capital has increased with 38.1 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

The improvement between 2011 and 2012 has mainly been caused by an increase of the

current assets.

 

The current ratio of the company in 2012 was 2.07. A company with a current ratio between

1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2012 of the company was 1.43. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Type of annual account           Corporate

Annual account                       W.G. van der Zanden B.V.

Oppermanstraat 33

3194AC Hoogvliet Rotterdam

Netherlands

Registration number: 241734380000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

3.373.980

3.284.505

3.261.489

4.719.776

3.039.051

Fixed assets

3.373.980

3.284.505

3.261.489

4.719.776

3.039.051

 

Total stock

1.273.291

1.117.324

1.054.929

828.703

811.306

Total receivables

1.575.572

2.269.247

1.728.655

1.666.285

1.534.411

Liquid funds

634.840

206.428

160.404

239.415

275.687

Current assets

3.483.703

3.592.999

2.943.988

2.734.403

2.621.404

Total assets

6.857.683

6.877.504

6.205.477

7.454.179

5.660.455

 

 

Issued capital

18.151

18.151

18.151

18.151

18.151

Other reserves

1.353.906

1.423.408

1.423.408

2.126.070

1.706.304

Non-distributable profit

487.976

730.498

 

 

 

Total reserves

1.841.882

2.153.906

1.423.408

2.126.070

1.706.304

Total equity

1.860.033

2.172.057

1.441.559

2.144.221

1.724.455

 

Long term interest yielding debt

 

2.973.500

3.167.500

3.361.500

2.307.500

Long term liabilities

2.779.500

2.973.500

3.167.500

3.361.500

2.307.500

Short term liabilities

2.218.150

1.731.947

1.596.418

1.948.458

1.628.500

Total short and long term liabilities

4.997.650

4.705.447

4.763.918

5.309.958

3.936.000

Total liabilities

6.857.683

6.877.504

6.205.477

7.454.179

5.660.455

 

 

Summary

 

The total assets remained the same between 2012 and 2013.

Despite the fact that the total assets remained the same, the fixed assets increased with 2.72

%.

Despite the unchanged assets the net worth declined with -14.37 %, which has resulted in

the fact that the company's indebtedness increased with 6.21 %.

 

In 2013 the assets of the company were 49.2 % composed of fixed assets and 50.8 % by

current assets. The assets are being financed by an equity of 27.12 %, and total debt of

72.88 %.

The total assets of the company increased with 10.83 % between 2011 and 2012.

The total assets are entirely composed of current assets.

The assets growth has been financed by a Net Worth increase of 50.67 %. The company's

net increase has also covered a reduction of -1.23 % of the company's indebtedness.

In 2012 the assets of the company were 47.76 % composed of fixed assets and 52.24 % by

current assets. The assets are being financed by an equity of 31.58 %, and total debt of

68.42 %.

 

 

Analysis

 

Branch (SBI)    Wholesale trade (no motor vehicles and motorcycles) (46)

Region             Groot Rotterdam

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Groot Rotterdam 8969 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Groot Rotterdam 231 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Groot Rotterdam is normal

 

 

Publications

 

Filings 08-07-2014: De jaarrekening over 2013 is gepubliceerd.

03-10-2013: De jaarrekening over 2012 is gepubliceerd.

22-01-2013: De jaarrekening over 2011 is gepubliceerd.

04-01-2012: De jaarrekening over 2010 is gepubliceerd.

04-01-2012: De jaarrekening over 2010 is gepubliceerd.

16-11-2010: De jaarrekening over 2009 is gepubliceerd.

01-10-2009: De jaarrekening over 2008 is gepubliceerd.

 

 

Company structure

 

Relations 4

J. van Doorn Beheer B.V.

Soetendaalseweg 98

3036EV ROTTERDAM

Netherlands

Registration number: 242474800000

 

• W.G. van der Zanden B.V.

Oppermanstraat 33

3194AC Hoogvliet Rotterdam

Netherlands

Registration number: 241734380000

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.60.25

UK Pound

1

Rs.101.92

Euro

1

Rs.80.70

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.