MIRA INFORM REPORT

 

 

Report Date :

04.01.2014

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL SUPPLIES S.A.

 

 

Registered Office :

13 Klm National Road Athens To Lamia, 14451 Metamorfossi, Attiki

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

03.11.2000

 

 

Com. Reg. No.:

047285

 

 

Legal Form :

Societe Anonyme            

 

 

Line of Business :

·         Wholesaler of Waste & Scrap Materials such as such as Plastic, Metal, Rubber Paper, Ferrous & Non-Ferrous Products

subject was also engaged in imports and trade of plastic building waste sacks (PP & PE), an activity which was ceased in the beginning of 2010.

 

 

No. of Employees :

12

 

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Greece

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Greece ECONOMIC OVERVIEW

 

Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. But the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. The economy contracted by 2.3% in 2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to about 8% in 2012. Deteriorating public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies to downgrade Greece's international debt rating in late 2009, and has led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, overhauling the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to push through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Euro-Zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.

 

Source : CIA

 

 

 

 

IDENTIFICATION DETAILS

 

Name                                        GLOBAL SUPPLIES S.A.

ADDRESS:                               13 KLM NATIONAL ROAD ATHENS TO LAMIA                     

                                                14451 METAMORFOSSI                                       

                                                ATTIKI                                                   

                                                GREECE                                                   

TELEPHONE:                            30  2102853182                                           

TELEFAX:                                 30  2118501606                                           

E-MAIL ADDRESS:                    globalth@globalth.gr                                      

WEB ADDRESS:                       www.globalth.net                                           

 

 

FURTHER INFORMATION

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

 

 STARTED:    2000                        SALES:                      1,738,560

 

 

 

YEAR INC:   2000                        PROFIT:                         7,388

 

 

 

LEGAL FORM: SOCIETE ANONYME             NET WORTH:                    475,259

 

 

 

REG NO:     047285                      NOM CAPITAL:                  443,016

 

 

 

GOVT GAZ NO:10199 / 2000                ISS CAPITAL:                  443,016

 

 

 

EMPLOYS:    12                                                              

 

 

 

SIC:        5093 5199                                                       

 

 

 

ACTIVITY:   Wholesaler of Waste & Scrap Materials such as such as Plastic, Metal, Rubber Paper, Ferrous & Non-Ferrous Products

 

 

PRINCIPALS

 

      Theodoros Dimitrios Leventakis

 

 

 

             chairman

 

 

 

             shareholder

 

 

 

           

 

 

 

      Theodoros Dimitrios Leventakis

 

 

 

             chief executive

 

 

 

             shareholder

 

 

 

           

 

 

 

      Panagiotis Basil Kostopoulos

 

 

 

             member

 

 

 

            

 

 

 

      Pantelis Christos Paschalinos

 

 

 

             member

 

BANKERS

 

       Alpha Bank A.E., Ethniki Odos Lamia Branch branch., Athinon-Lamias

 

 

 

      National Rd (17 Klm), Kifissia 14564, Greece.

 

 

 

      Telephone: 30 2108071824

 

 

TRADE PAYMENTS

 

 

EXP. DATE  PAYING RECORD HIGH CREDIT NOW OWES  PAST DUE TERM     LAST SALE   

 

 

 

11/11/2013 PROMPT        361         0         0        30       11/6/2013   

 

 

 

     

 

 

 

11/11/2013 PROMPT        722         477       68       30       11/10/2013  

 

 

 

     

 

 

 

30/9/2013  PROMPT        722         34        0        30       30/8/2013   

 

 

 

     

 

 

 

30/9/2013  PROMPT        361         0         0        30       30/6/2013   

 

 

 

     

 

 

 

13/8/2013  PROMPT        231         0         0        30       13/3/2013   

 

 

 

     

 

 

 

13/8/2013  PROMPT        722         722       0        30       13/7/2013   

 

 

 

     

 

 

 

9/7/2013   PROMPT        231         0         0        30       9/4/2013    

 

 

 

     

 

 

 

9/7/2013   PROMPT        462         111       0        30       9/6/2013    

 

 

 

     

 

 

 

28/6/2013  PROMPT        462         72        0        30       28/5/2013   

 

 

 

     

 

 

 

28/6/2013  PROMPT        231         0         0        30       28/3/2013   

 

 

PAYMENTS REPORTED

 

Informants report that subject's payments are prompt.

 

 

HISTORY

 

   PRINCIPALS ANTECEDENTS                                                    

 

 

 

     NAME: Theodoros Dimitrios Leventakis

 

 

 

     Also a director of GLOBAL MFG S.A., LEVEKAT S.A., ANNIELLI LTD.

 

 

 

     Also a partner in ANNIELLI LTD.

 

 

 

     Also associated with LEVENTAKIS LOGISTICS S.A..

 

 

 

    

 

 

 

     NAME: Theodoros Dimitrios Leventakis

 

 

 

     Also a director of GLOBAL MFG S.A., LEVEKAT S.A., ANNIELLI LTD.

 

 

 

     Also a partner in ANNIELLI LTD.

 

 

 

     Also associated with LEVENTAKIS LOGISTICS S.A..

 

 

 

 

 

 

 

   BACKGROUND

 

 

 

     Business started Nov 3, 2000.

 

 

 

    

 

 

 

    

 

 

 

   LEGAL FORM

 

 

 

     Societe anonyme registered on Nov 3, 2000 for a period ending Dec 31, 2020.

 

 

 

     Registration Number: 047285

 

 

 

     Government Gazette Number: 10199 / 2000

 

 

 

     Chamber of Commerce Number: 191026

 

 

 

     Tax Registration Number: 099877148

 

 

SHARE CAPITAL

 

      Nominal capital: 443,016. Issued capital: 443,016.

 

 

 

     Issued/paid-up capital was last increased on Nov 17, 2004.

 

 

 

    

 

 

 

     Nominal capital is divided into:

 

 

 

     151,200 shares of 2.93 each and fully paid-up.

 

 

SHAREHOLDERS

 

      Theodoros Leventakis holds 99.00% of the voting capital.

 

 

 

     Prokopios Kotrogiannis holds 1.00% of the voting capital.

 

 

AFFILIATED COMPANIES

 

      The following are related through principal(s) and/or financial

 

 

 

     interest(s):

 

 

 

     LEVENTAKIS LOGISTICS S.A. Societe Anonyme, Metamorfossi, Greece

 

 

 

 

 

 

 

     Year started: 1997.

 

 

 

     This concern is related through common shareholders.

 

 

 

     ANNIELLI LTD Limited Liability Company, Metamorfossi, Greece

 

 

 

     This is a dormant concern.

 

 

 

     Year started: 1991.

 

 

 

     This concern is related through common shareholders.

 

 

OPERATIONS

 

 Local Activity Code:          4677                                          

 

 

 

Local Activity Code Type:     STAKOD                                        

 

 

 

Equivalent to:                NACE 1                                         

 

 

 

    

 

 

 

   Wholesaler of Waste & Scrap Materials such as such as Plastic, Metal, Rubber Paper, Ferrous & Non-Ferrous Products

 

 

 

     Wholesales nondurable goods

 

 

 

     Trade of Scrap and waste. Plastic recycling. General trade , Subject

 

 

 

     distributes its goods by wholesale abroad.

 

 

 

     Exports 95% to Bulgaria, China, Germany, Hong Kong, India, Indonesia,

 

 

 

     Italy, North Korea, Malaysia, Pakistan, Poland, Romania

 

 

 

     Normal exporting terms are cash against documents

 

 

 

    

 

 

 

     Subject does not import.

 

 

 

    

 

 

 

     EMPLOYS: 12 as at Dec 27, 2013 including 0 part-time staff.

 

 

 

     The number of employees varies according to needs.

 

 

 

     The number of employees peaks to 12.

 

 

 

    

 

 

 

     Operates from rented workshop, covering approximately 30,000 square

 

 

 

     metres at heading address.

 

 

 

    

 

 

 

     REGISTERED OFFICE: At heading address.

 

 

FINANCIAL INFORMATION

 

                                       Fiscal           Fiscal          Fiscal

 

 

 

                                  Dec 31,2010      Dec 31,2011     Dec 31,2012

 

 

 

Turnover                            2,132,565        1,729,025       1,738,560

 

 

 

Pre-Tax Profit                         52,876            2,252           7,389

 

 

 

Net Worth                             482,015          474,098         475,260

 

 

 

Fixed Assets                           77,115          108,953         100,531

 

 

 

Total Assets                        1,649,781        1,619,039       1,633,178

 

 

 

Current Assets                      1,572,541        1,508,918       1,532,522

 

 

 

Current Liabilities                 1,167,765        1,144,940       1,157,918

 

 

 

Working Capital                       404,776          363,978         374,604

 

 

 

Financial Assets                          125              125             125

 

 

 

Intangibles                                 0            1,042               0

 

 

 

Employees                                   6                5               5

 

 

 

Net Worth and Total Assets are tangible figures shown after the deduction of

 

 

 

intangible assets.

 

 

 

 RATIOS 

 

 

 

                                  Dec 31,2010      Dec 31,2011     Dec 31,2012

 

 

 

Current Ratio (X)                        1.35             1.32            1.32

 

 

 

Solvency Ratio (%)                     242.27           241.50          243.64

 

 

 

Fixed Assets/Net Worth (%)              16.00            22.98           21.15

 

 

 

Current Liabs/Net Worth (%)            242.27           241.50          243.64

 

 

 

Asset Turnover (%)                     129.26           106.79          106.45

 

 

 

Sales / Net Working Cap (X)              5.27             4.75            4.64

 

 

 

Assets / Sales (%)                      77.36            93.64           93.94

 

 

 

Profit Margin (%)                        2.48             0.13            0.43

 

 

 

S/holders Return (%)                    10.97             0.48            1.56

 

 

 

Return On Assets (%)                     3.21             0.14            0.45

 

 

 

Sales / Employees                  355,427.50       345,805.00      347,712.00

 

 

 

Profit / Employees                   8,812.67           450.40        1,477.80

 

 

 

    

 

 

 

     Abstract from individual fiscal balance sheet as at Dec 31, 2012

 

 

 

          LIABILITIES                             ASSETS                       

 

 

 

Capital                        443,016   Land/Buildings                 304,932

 

 

 

Retained Profits                27,477   Depreciation                   204,401

 

 

 

Misc Reserves                    4,766   Total Fixed Ass                100,531

 

 

 

Net Worth                      475,259                    

 

 

 

                                         Misc Fin'cl Ass                    125

 

 

 

                                         Total Fin'cl Ass                   125

 

 

 

                                         Misc Intangible                      0

 

 

 

                                         Total Intangible                     0

 

 

 

     CURRENT LIABILITIES:                         CURRENT ASSETS:              

 

 

 

Trade Creditors                 34,243   Stock                          400,776

 

 

 

Short term Loans             1,109,222   Trade Debtors                1,063,146

 

 

 

Misc Current Liabs              14,453   Misc Debtors                    36,448

 

 

 

                                         Cash                            32,151

 

 

 

TOTAL CURRENT                1,157,918   TOTAL CURRENT                1,532,521

 

 

 

TOTAL LIABS & NW             1,633,177   TOTAL ASSETS                 1,633,177

 

 

 

 

         

 

       Profit & Loss Account from Jan 1, 2012 to Dec 31, 2012                

 

 

 

          Net Sales                             1,738,560

 

 

 

          Cost of Goods Sold                    1,004,583

 

 

 

          Gross Profit                            733,977

 

 

 

          Misc Operating Charges                  589,237

 

 

 

          Misc Operating Income                       294

 

 

 

          Net Operating Income                    145,034

 

 

 

          Misc Financial Income                        64

 

 

 

          Total Financial Income                       64

 

 

 

          Interest Payable                         97,708

 

 

 

          Misc Financial Expenses                  40,002

 

 

 

          Total Financial Expenses                137,710

 

 

 

          Profit Before Taxes                       7,388

 

 

 

          Income Tax                                6,227

 

 

 

          Profit After Tax                          1,161

 

 

 

          Net Profit                                1,161

 

 

GENERAL COMMENTS

 

Subject is an export oriented economic unit. Noted that, subject was also engaged in imports and trade of plastic building waste sacks (PP & PE), an activity which was ceased in the beginning of 2010.

 

Please note the information provided in this report was obtained from official and publicly available sources.

 

Further information was not available.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.41

UK Pound

1

Rs.102.54

Euro

1

Rs.85.20

 

INFORMATION DETAILS

 

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%)

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.