MIRA INFORM REPORT

 

 

Report Date :

18.08.2014

 

IDENTIFICATION DETAILS

 

Name :

VISILASE GMBH

 

 

Registered Office :

Albert-Einstein-Ring 7, D 14532 Kleinmachnow

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

05.06.2008

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture and processing of other glass, including technical glassware

 

 

No of Employees :

2

 

 

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 :

Slow But Correct

 

 

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

 

Visilase GmbH

 

Company Status:      active

Albert-Einstein-Ring 7

D 14532 Kleinmachnow

Telephone:030/21733270

Telefax:  030/21733271

E-mail:   info@visilase.com

 

 

CONCLUSION

 

 Business relations on credit basis are not permissible.

 

 

Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:        05.06.2008

 Shareholders'

 agreement:                   05.06.2008

 Registered on:              07.11.2008

 Commercial Register:    Local court 14467 Potsdam

 under:                          HRB 21579 P

 

 Share capital:              EUR             25,000.00

 

 Shareholder:                Visilase Ltd.

                                    GB  Dundee

                                    Legal form: Other legal form

                                    Share:             EUR             25,000.00

 Manager:

                                    Andrea Reggio

                                    I - Catania

                                    having sole power of representation

                                    born: 27.05.1956

                                    Nationality: Italian

 

 

BUSINESS ACTIVITIES

 

Sectors

2319    Manufacture and processing of other glass, including

technical glassware

32501   Manufacutre of technical instruments and supplies for

medical purposesn.e.c.

46462   Wholesale of medical and orthopedic goods, dental and

laboratory supplies

96090   Other service activities n. e. c.

 

 

Payment experience

 

negative information

 

 

Negative information

 

Negative information is known to us.

 

Balance sheet year:  2012

 

Non-disc. of asset pos. ZPO:

                      Amount               last entry:

                          4                    21.03.2014

 Detention warrant:

                      Amount               last entry:

                          5                    17.10.2012

 Debt collection:

                      Amount               last entry:

                          2                    24.07.2014

                                                EUR          16,946.21

 

 

REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Albert-Einstein-Ring 7

                                    D 14532 Kleinmachnow

 

 Land register documents were not available.

 

 

BANKERS

 

 A bank connection is unknown.

 

 

FINANCIAL FIGURES

 

 Turnover:                      2013                 *EUR                   292,500.00

 Profit:                           2012                 EUR                   -286,092.00

 further business figures:

 Equipment:                                           *EUR                     16,500.00

 Ac/ts receivable:                                               EUR                      48,204.00

 Liabilities:                                             EUR                 2,099,989.00

 Employees:                                                                                               2

 

 The business figures marked with an asterisk are estimates based        

  on average values in the line of business.

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                        67.04

 Liquidity ratio:                           0.19

 Return on total capital [%]:     -14.07

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                        68.75

 Liquidity ratio:                           1.18

 Return on total capital [%]:      -8.61

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                        47.92

 Liquidity ratio:                           0.06

 Return on total capital [%]:     -21.68

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                        56.58

 Liquidity ratio:                           10.00

 Return on total capital [%]:     -27.54

 

 Equity ratio

 The equity ratio indicates the portion of the equity as compared to the total capital. The higher the equity ratio, the better the  economic stability (solvency) and thus the financial autonomy of  a company.

 

 Liquidity ratio

 The liquidity ratio shows the proportion between adjusted receivables and net liabilities. The higher the ratio, the lower the company's financial dependancy from external creditors.

 

 Return on total capital

 The return on total capital shows the efficiency and return on  the total capital employed in the company. The higher the return on total capital, the more economically does the company work with the invested capital.

 

Type of balance sheet:        Company balance sheet

 

 Financial year:              01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR          2,914,318.12

  Fixed assets                           EUR          1,971,075.74

   Tangible assets                       EUR          1,971,075.74

  Current assets                         EUR             62,621.61

   Stocks                                EUR                114.86

   Accounts receivable                   EUR             48,204.14

   Investments in current assets         EUR             12,180.00

   Liquid means                          EUR              2,122.61

  Remaining other assets                 EUR            880,620.77

   Deficit not covered by shareholders'

   equity                                EUR            880,620.77

 

 LIABILITIES                             EUR          2,914,318.12

  Shareholders' equity                   EUR                  0.00

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Balance sheet profit/loss (+/-)       EUR           -905,620.77

    Profit / loss brought forward        EUR           -619,529.04

    Annual surplus / annual deficit      EUR           -286,091.73

   Other shareholders' equity (+/-)      EUR            880,620.77

    Deficit not covered by shareholders'

    equity                               EUR            880,620.77

  Items between shareholders' equity and

  debt capital                           EUR            806,041.56

   Special items with reserve funds      EUR            806,041.56

  Provisions                             EUR              8,288.00

  Liabilities                            EUR          2,099,988.56

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR          3,322,031.86

  Fixed assets                           EUR          2,238,192.00

   Tangible assets                       EUR          2,238,192.00

    Other / unspecified tangible assets  EUR          2,238,192.00

  Current assets                         EUR            489,310.82

   Accounts receivable                   EUR            476,790.14

    Other debtors and assets             EUR            476,790.14

   Investments in current assets         EUR             12,180.00

   Liquid means                          EUR                340.68

  Remaining other assets                 EUR            594,529.04

   Deficit not covered by shareholders'

   equity                                EUR            594,529.04

 

 LIABILITIES                             EUR          3,322,031.86

  Shareholders' equity                   EUR                  0.00

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Balance sheet profit/loss (+/-)       EUR           -619,529.04

    Profit / loss brought forward        EUR           -384,738.90

    Annual surplus / annual deficit      EUR           -234,790.14

   Other shareholders' equity (+/-)      EUR            594,529.04

    Deficit not covered by shareholders'

    equity                               EUR            594,529.04

  Items between shareholders' equity and

  debt capital                           EUR            878,625.56

   Special items with reserve funds      EUR            878,625.56

  Provisions                             EUR              9,315.00

  Liabilities                            EUR          2,434,091.30

   Other liabilities                     EUR          2,434,091.30

    Unspecified other liabilities        EUR          2,434,091.30

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.06

UK Pound

1

Rs.101.84

Euro

1

Rs.81.55

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

SHG

 

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.