MIRA INFORM REPORT
|
Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MALAY GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 263-268, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.07.1989 |
|
|
|
|
Com. Reg. No.: |
437870074 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No of Employees : |
01 (31.12.2013) |
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 : |
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) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
Business number 437870074
Company name MALAY GEMS BVBA
Address HOVENIERSSTRAAT 30-BUS
263-268
2018 ANTWERPEN
Number of staff 01
(31.12.2013)
Date of establishment 26/07/1989
Fax number 032311408
Commentary
|
The business was established over 25 years
ago. The business has 1 employees. |
|
|
|
The business has been at the address for
over 18 years. |
|
|
|
Operating Result in the latest trading
period increased 616% on the previous trading period. |
|
|
|
Pre-tax profits decreased by 60% compared
to the previous trading period. |
|
|
|
The business saw a decrease in their Cash
Balance of 50% during the latest trading period. |
|
|
Accounts
|
DATE OF LATEST
ACCOUNTS |
TURNOVER |
PROFIT BEFORE
TAX NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
19,545,339 |
57,450 2,873,187 |
3,003,395 |
|
31/12/2012 |
24,587,543 |
145,374 2,826,482 |
2,932,264 |
|
31/12/2011 |
23,700,705 |
124,005 2,723,177 |
2,854,108 |
Accounts
|
DATE OF LATEST
ACCOUNTS |
BALANCE TOTAL |
NUMBER OF
EMPLOYEES CAPITAL |
CASHFLOW |
|
31/12/2013 |
5,676,113 |
1
2,400,000 |
73,196 |
|
31/12/2012 |
6,740,667 |
1 2,400,000 |
130,308 |
|
31/12/2011 |
5,023,889 |
1
2,400,000 |
115,624 |
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
|
Past payments |
--- |
Payment expectation days |
28.07 |
|
|
Industry average
payment expectation days |
124.35 |
Industry average day sales outstanding |
141.72 |
|
|
Day sales
outstanding |
75.64 |
|
|
|
Company
information
|
Business number |
437870074 |
Company name |
MALAY GEMS BVBA |
|
Fax number |
032311408 |
Date founded |
26/07/1989 |
|
Company status |
active |
Company type |
Private Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of latest
accounts |
31/12/2013 |
|
Activity code |
46761 |
Liable for VAT |
yes |
|
Activity description |
Wholesaler of diamonds and other precious
stones |
VAT Number |
BE.0437.870.074 Check VAT number |
|
Belgian
Bullettin of Acts Publications |
moniteur belge |
|
|
company
Accounts
|
Assets |
|||||||||
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
||||
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
269,793 |
-8.30 |
294,218 |
9.35 |
269,069 |
-7.74 |
291,652 |
32.33 |
220,394 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
268,912 |
-8.33 |
293,338 |
9.38 |
268,189 |
-7.77 |
290,772 |
32.46 |
219,514 |
|
Land & building |
220,164 |
-6.09 |
234,444 |
-5.74 |
248,723 |
-3.25 |
257,069 |
41.20 |
182,058 |
|
Plant & machinery |
4,686 |
11.84 |
4,190 |
-1.95 |
4,273 |
-58.13 |
10,206 |
-27.57 |
14,090 |
|
Furniture & Vehicles |
44,062 |
-19.45 |
54,704 |
260 |
15,193 |
-35.34 |
23,497 |
0.56 |
23,366 |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
880 |
0 |
880 |
0 |
880 |
0.05 |
880 |
0 |
880 |
|
Total current assets |
5,406,320 |
-16.13 |
6,446,449 |
35.58 |
4,754,820 |
6.75 |
4,454,027 |
-9.66 |
4,930,289 |
|
Inventories |
1,314,673 |
-19.82 |
1,639,738 |
128 |
716,189 |
-15.14 |
843,998 |
168 |
314,590 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
1,314,673 |
-19.82 |
1,639,738 |
128 |
716,189 |
-15.14 |
843,998 |
168 |
314,590 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
4,050,627 |
-14.88 |
4,758,791 |
18.93 |
4,001,313 |
12.55 |
3,555,121 |
-22.06 |
4,561,504 |
|
Other amounts receivable |
7,426 |
127 |
3,270 |
26.67 |
2,582 |
-89.51 |
24,605 |
-3.58 |
25,518 |
|
Cash |
4,425 |
-50.78 |
8,989 |
-49.88 |
17,935 |
3.15 |
17,388 |
130 |
7,529 |
|
Miscellaneous current assets |
29,169 |
-18.21 |
35,661 |
112 |
16,802 |
30.09 |
12,915 |
-38.93 |
21,148 |
|
Total Assets |
5,676,113 |
-15.79 |
6,740,667 |
34.17 |
5,023,889 |
5.86 |
4,745,679 |
-7.86 |
5,150,683 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholder equity |
2,873,187 |
1.65 |
2,826,482 |
3.79 |
2,723,177 |
3.31 |
2,635,965 |
4.01 |
2,534,302 |
|
Issued Share Capital |
2,400,000 |
0 |
2,400,000 |
0 |
2,400,000 |
0 |
2,400,000 |
0 |
2,400,000 |
|
Reserves |
473187 |
10.95 |
426,482 |
31.97 |
323,177 |
36.96 |
2,35,965 |
75.70 |
134,302 |
|
Creditors |
2802925 |
-28.39 |
3,914,185 |
70.13 |
2,300,712 |
9.05 |
2,109,714 |
-19.37 |
2616,381 |
|
Other long term Loans |
400,000 |
0 |
400,000 |
0 |
4000,00 |
-- |
-- |
-- |
-- |
|
Other Long term liabilities |
-- |
- |
-- |
-- |
-- |
-100 |
513,924 |
2.67 |
500,546 |
|
Total long terms debts |
400,000 |
4,000,00 |
400,000 |
-- |
400,000 |
-22.17 |
513,924 |
2.67 |
500,546 |
|
Financials debts |
731,222 |
58.01 |
462,767 |
14.92 |
402,698 |
-51.04 |
822,453 |
1385 |
55,353 |
|
Trade creditors |
1487,380 |
-45.26 |
2717,243 |
113 |
1273,038 |
133 |
546,326 |
-70.38 |
1,844,214 |
|
Amount payable for taxes remuneration &
social security |
9,115 |
-65.84 |
26,684 |
-32.99 |
39,818 |
38.84 |
28,680 |
63.71 |
17,519 |
|
Miscellaneous Current liabilities |
175,207 |
-43.02 |
307,491 |
66.07 |
185,158 |
-6.64 |
198,331 |
-0.21 |
198,749 |
|
Total current liabilities |
2,402,925 |
-31.62 |
3,514,185 |
84.89 |
1,900,712 |
19.11 |
1,595,790 |
-24.58 |
2,115,835 |
|
Total liabilities |
5,676,113 |
-15.79 |
6,740,667 |
34.17 |
5,023,889 |
5.86 |
4,745,679 |
-7.86 |
5,150,683 |
Ratio Analysis
|
Trading Performance |
|||||||||
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Profit Before Tax |
0.29 |
-50.85 |
0.59 |
13.46 |
0.52 |
-35.80 |
0.81 |
92.86 |
0.42 |
|
Return on capital employed |
1.76 |
-60.98 |
4.51 |
13.60 |
3.97 |
-12.75 |
4.55 |
73.00 |
2.63 |
|
Return on total assets employed |
1.01 |
-53.24 |
2.16 |
-12.55 |
2.47 |
-18.21 |
3.02 |
94.84 |
1.55 |
|
Return on net assets employed |
2.00 |
-61.09 |
5.14 |
12.97 |
4.55 |
-16.36 |
5.44 |
72.70 |
3.15 |
|
|
|
|
|
|
|
|
|
|
|
|
Sales / net working capital |
6.51 |
-22.41 |
8.39 |
1.08 |
8.30 |
34.09 |
6.19 |
-8.84 |
6.79 |
|
Stock turnover ratio |
6.73 |
0.90 |
6.67 |
120 |
3.02 |
-36.69 |
4.77 |
189 |
1.65 |
|
Creditor days |
28.07 |
-30.49 |
40.38 |
105 |
19.66 |
75.22 |
11.22 |
-69.07 |
36.27 |
|
Debtor days |
75.64 |
7.08 |
70.64 |
14.64 |
61.62 |
-15.99 |
73.35 |
-15.84 |
87.16 |
|
Current ratio |
2.25 |
22.95 |
1.83 |
-26.80 |
2.50 |
-10.39 |
2.79 |
19.74 |
2.33 |
|
Liquidity ratio / acid ratio |
1.70 |
24.09 |
1.37 |
-35.38 |
2.12 |
-6.19 |
2.26 |
3.67 |
2.18 |
|
Current debt ratio |
0.84 |
-32.26 |
1.24 |
77.14 |
0.70 |
14.75 |
0.61 |
-26.51 |
0.83 |
|
Liquidity ratio reprocessed |
- |
- |
|
- |
- |
- |
- |
- |
- |
|
Cash flow |
73,196 |
-43.83 |
130,308 |
12.70 |
115,624 |
-8.53 |
126,409 |
54.99 |
81,557 |
|
Net worth |
2,873,187 |
1.65 |
2,826,482 |
3.79 |
2,723,177 |
3.31 |
2,635,965 |
4.01 |
2,534,302 |
Profit & loss
|
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
|
Operating Income |
19,545,595 |
-20.51 |
24,587,791 |
3.74 |
23,701,034 |
33.97 |
17,691,728 |
-7.38 |
19,102,236 |
|
Turnover |
19,545,339 |
-20.51 |
24,587,543 |
3.74 |
23,700,705 |
33.97 |
17,691,499 |
-7.39 |
19,102,236 |
|
Total operating expenses |
19,340,961 |
-21.25 |
24,559,029 |
3.93 |
23,630,193 |
32.99 |
17,768,727 |
-4.26 |
18,559,155 |
|
|
|||||||||
|
Operating Charges |
19,341,217 |
-21.25 |
24,559,278 |
3.93 |
23,630,523 |
32.99 |
17,768,956 |
-4.26 |
18,559,155 |
|
Employee costs |
31,548 |
4.17 |
30,285 |
2.41 |
29,572 |
7.95 |
27,395 |
3.10 |
26,571 |
|
Wages and salary |
25,412 |
3.51 |
24,550 |
4.15 |
23,570 |
3.12 |
22,857 |
5.20 |
21,728 |
|
Employee pension costs - - - - - - - - - |
|||||||||
|
Social security contributions |
5,409 |
10.12 |
4,912 |
12.07 |
4,383 |
8.28 |
4,048 |
16.62 |
3,471 |
|
Other employee costs |
727 |
-11.69 |
823 |
-49.14 |
1,618 |
230 |
490 |
-64.29 |
1,372 |
|
Amortization and depreciation |
26,491 |
-1.90 |
27,003 |
-4.96 |
28,413 |
14.82 |
24,746 |
29.53 |
19,105 |
|
Operating result |
204,378 |
616 |
28,513 |
-59.56 |
70,511 |
91.30 |
-77,228 |
-114 |
543,081 |
|
Total financial income |
6,691 |
-96.89 |
215,429 |
61.34 |
133,528 |
-53.10 |
284,721 |
1355714 |
21 |
|
Total financial expenses |
153,619 |
55.85 |
98,568 |
23.16 |
80,034 |
24.84 |
64,110 |
-86.16 |
463,388 |
|
Results on ordinary operations before
taxation |
57,450 |
-60.48 |
145,374 |
17.23 |
124,005 |
-13.52 |
143,383 |
79.87 |
79,714 |
|
|
|
|
|
|
|
|
|
|
|
|
Extraordinary Income |
39,830 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
36,343 |
- |
- |
- |
- |
- |
- |
- |
-- |
|
Extraordinary items |
3,487 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Results for the Year Before Taxation |
60,937 |
-58.08 |
145,374 |
17.23 |
124,005 |
-13.52 |
143,383 |
79.87 |
79,714 |
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Taxation |
14,232 |
-66.17 |
42,069 |
14.34 |
36,793 |
-11.81 |
41,720 |
141 |
17,262 |
|
Results on ordinary operations after
taxation |
43,219 |
-58.16 |
103,305 |
18.45 |
87,211 |
-14.22 |
101,663 |
62.79 |
62,452 |
|
|
|
|
|
|
|
|
|
|
|
|
Net result |
46,705 |
-54.79 |
103,305 |
18.45 |
87,211 |
-14.22 |
101,663 |
62.79 |
62,452 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit (Loss) for the Year to be |
46,705 |
-54.79 |
103,305 |
18.45 |
87,211 |
-14.22 |
101,663 |
62.79 |
62,452 |
Social
Balance Sheet Details
|
Social Balance
Sheet Details |
||
|
Social Balance Sheet |
Total |
|
|
During the reporting year ended 31-12-2013 |
||
|
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 |
31,548 |
|
|
Part-time Employees |
- |
|
|
Total |
31,548 |
|
|
Benefits In Addition To Wages |
- |
|
|
|
||
|
During the previous reporting year |
||
|
Average number employees in Fte |
1 |
|
|
Actual working hours |
1,725 |
|
|
Personnel Charges |
30,036 |
|
|
Benefits In Addition To Wages |
- |
|
|
|
|
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited
Duration Contracts |
1 |
- |
1 |
|
Limited Duration
Contracts |
- |
- |
- |
|
Contracts For
Specific Work |
- |
- |
- |
|
Contracts
Regarding Substitution |
- |
- |
- |
|
|
|||
|
|
|||
|
Gender and
Education Level |
|||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondary
education |
- |
- |
- |
|
Higher education
(non university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondary
education |
1 |
- |
1 |
|
Higher education
(non university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
Industry
comparison
|
Activity code |
46761 |
|
|
Activity
description |
Wholesaler of diamonds and other precious
stones |
|
Payment
Information
|
||
|
Suspension of
payments / moratorium history |
||
|
Amount |
- |
|
|
Details |
- |
|
|
Payment expectations |
||
|
Payment
expectation days |
28.07 |
|
|
Day sales
outstanding |
75.64 |
|
Payment
expectations
Payment expectation days 28.07
Day sales outstanding 75.64
Industry
comparison
Activity code 46761
Activity description Wholesaler of
diamonds and other precious stones
Industry average payment
expectation days 124.35
Industry average day sales
Outstanding 141.72
Industry
quartile analysis
Payment expectations
Company result 28.07
Lower 122.66
Median 76.39
Upper 46.98
Day sales outstanding
Company result 75.64
Lower 102.84
Median 54.50
Upper 24.07
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
Summons
there is no data for this company
Protested
Bills
there is no data for this company
Bankruptcy
and other legal events
there is no data for this company
Director
details
Current director details
Name MALAY KOTHARI
Position Principal Manager
Start Date 09/09/2010
Street 5 VLAAMSEKUNSTLAAN
ANTWERPEN
Post code 2020
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MNL |
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.