MIRA INFORM REPORT

 

 

Report Date :

09.08.2014

 

IDENTIFICATION DETAILS

 

Name :

COOLING & MARINE SERVICES (CMS) GMBH

 

 

Registered Office :

Sachsenring 11, D 27711 Osterholz-Scharmbeck

 

 

Country :

Germany

 

 

Date of Incorporation :

17.02.2004

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of iron ores, iron, steel and iron and steel semi-finished goods.

 

 

No. of Employees :

6

 

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)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GERMANY - ECONOMIC OVERVIEW

 

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, has contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.

 

Source : CIA

Company name & address

 

COOLING & MARINE SERVICES (CMS) GMBH

 

 Company Status:          active

                                    Sachsenring 11

                                    D 27711 Osterholz-Scharmbeck

                                    Telephone:04795/9571081

                                    Telefax:  04795/9574022

                                    Homepage: www.coolingmarineservices.de

                                    E-mail:   services@coolingmarineservices.de

 

 VAT no.:                      DE813916253

 

 Tax ID number:              36/201/06705

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

 LEGAL FORM                          Private limited company

 Date of foundation:                    17.02.2004

 Shareholders'

 agreement:                               17.02.2004

 Registered on:                          01.03.2004

 Commercial Register:                Local court 29664 Walsrode

 under:                                      HRB 122269

 

 Share capital:                          EUR             50,000.00

 

 Shareholder:

                      Michael Kastens

                      Döser Seedeich 3

                      D 27472 Cuxhaven

                      born: 03.11.1968

                      Share:             EUR             25,000.00

 Shareholder:

                      Torsten Holz

                      Holzgräfenweg 21

                      D 28757 Bremen

                      born: 22.01.1971

                      Share:             EUR             25,000.00

 Manager:

                      Michael Kastens

                      Döser Seedeich 3

                      D 27472 Cuxhaven

                      having sole power of representation

                      born: 03.11.1968

 Manager:

                      Torsten Holz

                      Holzgräfenweg 21

                      D 28757 Bremen

                      having sole power of representation

                      born: 22.01.1971

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 46721   Wholesale of iron ores, iron, steel and iron and steel semi-finished goods

 

 

REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Sachsenring 11

                                    D 27711 Osterholz-Scharmbeck

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 VOLKSBANK, 27704 OSTERHOLZ-SCHARMBECK

 Sort. code: 29162394

 BIC: GENODEF1OHZ

 

 

FINANCIAL FIGURES

 

 Turnover:                      2012               EUR          3,800,000.00

                                    2013               EUR          3,800,000.00

 further business figures:

 Share capital:                                       EUR             50,000.00

 Equipment:                                           *EUR             42,000.00

 Ac/ts receivable:                                   *EUR            222,000.00

 Liabilities:                                             *EUR            258,000.00

 Employees:                                                                                         6

 

 The business figures marked with an asterisk are estimates based on average values in the line of business.

 

 BALANCE SHEETS

 

 Inconsistent balance sheets:

 Financial year                                       Published on

 01.01.2012 - 31.12.2012                        13.01.2014

 01.01.2011 - 31.12.2011                        07.06.2013

 01.01.2010 - 31.12.2010                        18.04.2012

 01.01.2009 - 31.12.2009                         21.01.2011

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.55

UK Pound

1

Rs.103.50

Euro

1

Rs.82.41

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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