|
Report Date : |
16.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HK DIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat
2, 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.07.2002 |
|
|
|
|
Com. Reg. No.: |
478090135 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones |
|
|
|
|
No of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
|
Business number |
478090135 |
|
Company name |
HK DIAM BVBA |
|
Address |
HOVENIERSSTRAAT 2 |
|
|
2018 ANTWERPEN |
|
Number of staff |
1 |
|
Date of
establishment |
29/07/2002 |
|
Telephone number |
032340373 |
|
Fax number |
032340373 |
|
The
business was established over 12 years ago. |
|
|
The business
has 1 employees. |
|
|
The
business has been at the address for over 7 years. |
|
|
Operating
Result in the latest trading period increased 30% on the previous trading
period. |
|
|
Pre-tax profits
increased by 33% compared to the previous trading period. |
|
|
The
business saw a decrease in their Cash Balance of 60% during the latest
trading period. |
|
|
Turnover in the
latest trading period increased 43% on the previous trading period. |
|
|
DATE OF LATEST
ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
111,181,138 |
244,161 |
4,179,831 |
6,749,927 |
|
31/12/2011 |
77,730,205 |
1 82,214 |
4,000,915 |
3,809,953 |
|
31/12/2010 |
91,733,258 |
170,450 |
3,864,456 |
3,673,467 |
|
Accounts |
||||
|
DATE OF LATEST
ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF
EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
34,475,058 |
1 |
3,495,000 |
199,173 |
|
31/12/2011 |
37,587,273 |
1 |
3,495,000 |
156,370 |
|
31/12/2010 |
34,499,610 |
1 |
3,495,000 |
154,221 |
|
Payment
expectations |
||||
|
Past
payments |
|
Payment expectation days |
44.82 |
|
|
Industry average payment expectation days |
129.58 |
Industry
average day sales outstanding |
131.83 |
|
|
Day
sales outstanding |
107.51 |
|
|
|
|
Business
number |
478090135 |
Company
name |
HK DIAM
BVBA |
|
|
Fax number |
032340373 |
Date
founded |
29/07/2002 |
|
|
Company
status |
active |
Company
type |
Private Limited Company (BL/LX) |
|
|
Currency |
Euro (€) |
Date of
latest accounts |
31/12/2012 |
|
|
Activity
code |
46761 |
Liable for
VAT |
Yes |
|
|
Activity
description |
Wholesale of diamonds and other precious stones |
VAT Number |
BE.0478.090.135
Check VAT number |
|
|
Belgian
Bullettin of Acts Publications |
Moniteur
Belge |
|
|
|
|
Contractor
details |
||||
|
Registered
contractor number |
- |
|
|
|
|
Contractor
description |
- |
|
|
|
|
Date
struck off register |
||||
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended
31-12-2012 |
|
|
Full-time
Employees |
1 |
|
Part-time
Employees |
- |
|
Total
Fte Employees |
1 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
1,756 |
|
Part-time
Employees |
- |
|
Total |
1,756 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
34,724 |
|
Part-time
Employees |
- |
|
Total |
34,724 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
1 |
|
Actual
working hours |
1,748 |
|
Personnel
Charges |
33,052 |
|
Benefits
In Addition To Wages |
- |
|
Joint Industrial Committee (JIC) |
|
|
JIC Code
|
218 |
|
Description
Category |
Additional
national joint committee for the employees |
|
|
|
|
Significant Events |
|
|
Event
Date |
16/05/2011 |
|
Event
Description |
Resignation-appointment
of directors |
|
Event
Details |
Commentaar
08-03-2011: Bevestiging van de benoeming van Dholakia Dharmesh als
Zaakvoerder. |
|
|
|
|
Event
Date |
16/05/2011 |
|
Event
Description |
Resignation-appointment
of directors |
|
Event
Details |
Commentaar
08-03-2011: Bevestiging van de benoeming van Dholakia Dharmesh als
Zaakvoerder. |
PROFIT & LOSS
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
111,181,138 |
43.03 |
77,730,205 |
-15.26 |
91,733,258 |
40,445,514 |
174 |
|
Total
operating expenses |
110,189,169 |
43.16 |
76,970,448 |
-15.17 |
90,730,509 |
40,129,325 |
174 |
|
Operating
result |
991,969 |
30.56 |
759,757 |
-24.23 |
1,002,749 |
128,804 |
670 |
|
Total
financial income |
- |
- |
264,119 |
1312 |
18,702 |
92,61 0 |
- |
|
Total
financial expenses |
747,808 |
-11.15 |
841,662 |
-1.10 |
851,001 |
1 83,719 |
307 |
|
Results
on ordinary operations before taxation |
244,161 |
34.00 |
182,214 |
6.90 |
170,450 |
28,651 |
752 |
|
Taxation |
65,245 |
42.60 |
45,755 |
27.18 |
35,976 |
21,126 |
208 |
|
Results
on ordinary operations after taxation |
178,916 |
31.11 |
136,459 |
1.48 |
1 34,474 |
13,941 |
11 83 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
-3,844 |
0 |
|
Other
appropriations |
0.00 |
- |
0 |
- |
0 |
- |
- |
|
Net
result OTHER INFORMATION |
178,916 |
31.11 |
136,459 |
1.48 |
1 34,474 |
10,119 |
1668 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
50,531 |
- |
|
Dividends |
- |
- |
- |
- |
- |
168,887 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
108,143 |
- |
|
Employee
costs |
34,724 |
5.06 |
33,052 |
3.70 |
31,872 |
137,902 |
-74.82 |
|
Wages and salary |
28,175 |
3.88 |
27,122 |
6.11 |
25,560 |
11 8,594 |
-76.24 |
|
Employee pension costs |
- |
- |
- |
- |
- |
12,737 |
- |
|
Social security contributions |
6,185 |
13.90 |
5,430 |
6.43 |
5,102 |
29,295 |
-78.89 |
|
Other employee costs |
364 |
-27.13 |
500 |
-58.68 |
1,210 |
4,861 |
-92.50 |
|
Amortization
and depreciation |
20,257 |
1.74 |
19,911 |
0.83 |
19,747 |
18,054 |
12.20 |
BALANCE
SHEET
|
Annual accounts |
31-12-2012 |
|
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,197 |
-100 |
|
Tangible
fixed assets |
328,582 |
-1.93 |
335,050 |
-5.06 |
352,906 |
188,724 |
74.11 |
|
Land
& building |
294,278 |
-2.77 |
302,654 |
-2.69 |
311,030 |
372,714 |
-21.04 |
|
Plant
& machinery |
19,087 |
114 |
8,911 |
-11.97 |
10,123 |
25,397 |
-24.84 |
|
Furniture
& Vehicles |
15,217 |
-35.21 |
23,485 |
-26.04 |
31,753 |
16,91 8 5,029 |
-10.06 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
139,170 30,812 |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
11,599 |
-100 |
|
Financial
fixed assets |
370 |
0 |
370 |
0 |
370 |
234,444 |
-99 |
|
Total
fixed assets |
328,952 |
-1.93 |
335,420 |
-5.05 |
353,276 |
343,083 |
-4.12 |
|
Inventories |
1,330,880 |
-65.50 |
3,857,607 |
-27.98 |
5,356,493 |
2,721,405 |
-51.10 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
7,018,491 |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
2,513 |
-100 |
|
Finished
goods |
1,330,880 |
-65.50 |
3,857,607 |
-27.98 |
5,356,493 |
1,752,867 |
-24.07 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
456,148 |
-100 |
|
Trade
debtors |
32,747,700 |
-1.51 |
33,248,620 |
20.65 |
27,557,368 |
3,673,672 |
791 |
|
Cash |
53,936 |
-60.02 |
134,908 |
-88.96 |
1,222,370 |
207,138 |
-73.96 |
|
other
amounts receivable |
5,425 |
91.42 |
2,834 |
9.38 |
2,591 |
211,968 |
-97.44 |
|
Miscellaneous
current assets |
8,167 |
3.58 |
7,884 |
4.95 |
7,512 |
14,803 |
-44.83 |
|
Total
current assets |
34,146,107 |
-8.34 |
37,251,853 |
9.09 |
34,146,334 |
6,367,592 |
436 |
|
Total
Assets |
34,475,058 |
-8.28 |
37,587,273 |
8.95 |
34,499,61 0 |
6,672,355 1,217,713 |
416 |
CURRENT LIABILITIES
|
Trade
creditors |
13,531,022 |
-21.67 |
17,274,494 |
32.83 |
13,004,563 |
2,800,774 |
383 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
13,646,783 |
-10.09 |
15,178,250 |
-11.58 |
17,166,525 |
3,614,307 150,000 |
277 |
|
Current
portion of long term debt |
14,358 |
-22.92 |
18,628 |
-17.56 |
22,597 |
90,305 14,039 |
-84.10 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
19,466 |
0.97 |
19,280 |
46.71 |
13,142 |
8,598 - |
-44.80 |
|
Miscellaneous
current liabilities |
184,550 |
-80.60 |
951,248 |
257 |
266,040 |
-37.47 |
- - |
|
Total
current liabilities |
27,396,179 |
-18.08 |
33,441,900 |
9.74 |
30,472,867 |
4,732,803 |
478 |
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
2,899,048 |
1906 |
144,458 |
-10.99 |
162,287 |
179 |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
40,313 31,040 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,964 0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
92,747 |
-100 |
|
Total
long term debts |
2,899,048 |
1906 |
144,458 |
-10.99 |
162,287 |
497,055 |
483 |
|
SHAREHOLDERS
EQUITY |
|
|
|
|
|
|
|
|
Issued
share capital |
3,495,000 |
0 |
3,495,000 |
0 |
3,495,000 |
869,039 |
302 |
|
Share
premium account |
- |
- |
- |
- |
- |
89,810 |
- |
|
Reserves |
684,831 |
35.36 |
505,915 |
36.94 |
369,456 |
541,892 |
26.38 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
927,466 |
- |
|
Total
shareholders equity |
4,179,831 |
4.47 |
4,000,915 |
3.53 |
3,864,456 |
1,436,956 |
190 |
|
Working
capital |
6,749,927 |
77.17 |
3,809,953 |
3.72 |
3,673,467 |
1,634,789 |
312 |
|
Cashflow |
199,173 |
27.37 |
156,370 |
1.39 |
154,221 |
24,792 |
703 |
|
Net
worth |
4,179,831 |
4.47 |
4,000,915 |
3.53 |
3,864,456 |
1,434,239 |
191 |
RATIO ANALYSIS
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.22 |
-4.35 |
0.23 |
21.05 |
0.19 |
-10,00 |
2.20 |
|
Return
on capital employed |
3.45 |
-21.59 |
4.40 |
4.02 |
4.23 |
39,00 |
-91.15 |
|
Return
on total assets employed |
0.71 |
47.92 |
0.48 |
-2.04 |
0.49 |
-292,00 |
0.24 |
|
Return
on net assets employed |
5.84 |
28.35 |
4.55 |
3.17 |
4.41 |
26,00 |
-77.54 |
|
Sales
/ net working capital |
16.47 |
-19.26 |
20.40 |
-18.30 |
24.97 |
64,00 |
-99 |
|
Stock
turnover ratio |
1.20 |
-75.81 |
4.96 |
-15.07 |
5.84 |
88,00 |
-98.64 |
|
Debtor
days |
107.51 |
-31.14 |
156.13 |
42.39 |
109.65 |
148,00 |
-27.36 |
|
Creditor
days SHORT TERM
STABILITY |
44.82 |
-45.29 |
81.92 |
56.57 |
52.32 |
192,00 |
-76.66 |
|
Current
ratio |
1.25 |
12.61 |
1.11 |
-0.89 |
1.12 |
6,00 |
-88.64 |
|
Liquidity
ratio / acid ratio |
1.20 |
20.00 |
1 |
6.38 |
0.94 |
4,00 |
-70.00 |
|
Current
debt ratio |
6.55 |
-21.65 |
8.36 |
5.96 |
7.89 |
11,00 |
-40.45 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
Gearing |
396.19 |
3.32 |
383.45 |
-14.60 |
449 |
259,00 |
52.97 |
|
Equity
in percentage |
12.12 |
13.91 |
10.64 |
-5.00 |
11.20 |
-3.364,00 |
0.36 |
|
Total
debt ratio |
7.25 |
-13.59 |
8.39 |
5.80 |
7.93 |
12,00 |
-39.58 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and other
precious stones |
|
industry average credit |
64.48 |
|
rating |
|
|
Industry average credit |
140177.31 |
|
limit |
|
|
Payment Information |
|
|
Payment expectations |
|
|
Payment expectation days |
44.82 |
|
Day sales outstanding |
107.51 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and other
precious stones |
|
Industry average payment |
129.58 |
|
expectation days |
|
|
Industry average day sales |
131.83 |
|
outstanding |
|
|
Industry quartile analysis |
|
|
Payment expectations |
|
|
Company result |
44.82 |
|
Lower |
127.33 |
|
Median |
76.80 |
|
Day sales
outstanding |
|
|
Company result |
107.51 |
|
Lower |
106.72 |
|
Median |
55.71 |
|
Upper |
26.51 |
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
|
Shareholder Name |
|
|
|
|
Forename |
Surendra |
Middle Name |
-- |
|
Surname |
Ribadiya |
|
|
|
|
|
|
|
|
Shareholder Details
|
|
|
|
|
Start Date |
17/07/2002 |
End Date |
-- |
|
Percentage Owned |
20% |
|
|
|
|
|
|
|
|
Shareholder Address
|
|
|
|
|
Street Name |
Quellinstraat |
House Number |
51 |
|
Minor Town |
-- |
Postal Town |
Antwerpen |
|
Post Code |
2018 |
Country |
Belgium |
|
|
|
|
|
|
Shareholder Name |
|
|
|
|
Forename |
Pareshkumar |
Middle Name |
-- |
|
Surname |
Golakiya |
|
|
|
|
|
|
|
|
Shareholder Details
|
|
|
|
|
Start Date |
17/07/2002 |
End Date |
-- |
|
Percentage Owned |
80% |
|
|
|
|
|
|
|
|
Shareholder Address
|
|
|
|
|
Street Name |
Quinten Matsijslei |
House Number |
37 |
|
Minor Town |
- |
Postal Town |
Antwerpen |
|
Post Code |
2018 |
Country |
Belgium |
NSSO DETAILS
Business number 478090135
Name of defendant Legal form of ---
There is no bankruptcy data against this company
Bankruptcy Data
There is no data for this company
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.61.05 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.55 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.