MIRA
INFORM REPORT
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Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ZURI STAR BVBA |
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Registered Office : |
Hoveniersstraat, 30, 2018 Antwerpen |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.10.2011 |
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Com. Reg. No.: |
840333665 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of watches and jewellery |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
Company name & address
Business number 840333665
Company name ZURI STAR BVBA
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 0
Date of establishment 14/10/2011
Telephone number 0485387107
Fax number 032334638
Commentary
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No employees are recorded for this business. |
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The business has been at the address for over 2 years. |
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Accounts
|
Date of latest
accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2012 |
3,828,231 |
9,248 |
25,628 |
2,049 |
Accounts
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Date of latest accounts |
Balance Total |
Number of Employees |
Capital |
Cashflow |
|
31/12/2012 |
4,203,216 |
0 |
18,600 |
9,548 |
Payment expectations
Payment expectation days 161.16
Industry average payment expectation days 201.91
Day sales outstanding 160.64
Industry average day sales outstanding 576.47
Court data summary
Court action type no
Company information
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Business number |
840333665 |
Company name |
ZURI STAR BVBA |
|
Fax number |
032334638 |
Date founded |
14/10/2011 |
|
Company status |
active |
Company type |
Private Limited Company
(BL/LX) |
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Currency |
Euro (€) |
Date of latest accounts |
31/12/2012 |
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Activity code |
46480 |
liable for VAT |
No |
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Activity description |
Wholesaler
of watches and jewellery |
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Belgian Bullettin of Acts Publications |
moniteur belge |
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Joint Industrial Committee
(JIC)
Significant Events
Event Date 21/05/2014
Event Description
Event Details De 7.050 nieuwe
aandelen worden toegekend aan: Sonani Bhavesh.
COMPANY ACCOUNTS
Comparison Mode
·
Average Median Export
accounts to CSV File
Profit & Loss
Annual accounts 31-12-2012
Weeks 63
Currency EUR
Turnover 3,828,231
Total operating expenses 3,856,753
Operating result -28,522
Total financial income 97,728
Total financial expenses 59,957
Results on ordinary operations before taxation 9,248
Taxation 2,220
Results on ordinary operations after taxation 7,028
Net result 7,028
Other Information
Gross Operating Margin -24,312
Amortization and depreciation 2,520
Balance Sheet
Annual accounts 31-12-2012
Weeks 63
Currency EUR
Tangible fixed assets 23,269
Plant & machinery 1,568
Furniture & Vehicles 21,702
Financial fixed assets 310
Total fixed assets 23,579
Inventories 2,485,239
Other stocks 2,485,239
Trade debtors 1,684,800
Cash 4,706
other amounts receivable 3,682
Miscellaneous current assets 1,210
Total current assets 4,179,637
Total Assets 4,203,216
Current Liabilities
Trade creditors 1,702,877
Amounts Payable for Taxes, Remuneration
& Social Security 3,677
Miscellaneous current liabilities 2,471,035
Total current liabilities 4,177,589
Shareholders Equity
Issued share capital 18,600
Reserves 7,028
Total shareholders equity 25,628
Working capital 2,049
Cashflow 9,548
Net worth
25,628
Ratio Analysis
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Annual
accounts |
31-12-2010
|
|
Profit Before Tax |
0.24 |
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Return on capital employed |
36.09 |
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Return on total assets employed |
0.22 |
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Return on net assets employed |
36.09 |
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Sales / net working capital |
1868.62 |
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Stock turnover ratio |
64.92 |
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Debtor days |
160.64 |
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Creditor days |
161.16 |
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Short Term Stability |
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Current ratio |
1 |
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Liquidity ratio / acid ratio |
0.41 |
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Current debt ratio |
163.01 |
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Long Term Stability |
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Equity in percentage |
0.61 |
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Total debt ratio |
163.01 |
Industry comparison
Activity code 46480
Activity description Wholesale of
watches and jewellery
Industry average payment expectation days 201.91
Industry average day sales outstanding 576.47
Payment Information
Payment
expectations
Payment expectation days 161.16
Day sales outstanding 160.64
Industry quartile analysis
Payment
expectations
Company result 161.16
Lower 117.89
Median 50.22
Upper 14.65
Day sales
outstanding
Company result 160.64
Lower 108.82
Median 48.32
Upper 17.20
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Individual Shareholders
Shareholder Name
Forename Bhavesh
Surname Sonani
Shareholder Details
Start date 20/06/2014(estimated)
Shareholder Address
Street name Lange
Herentalsestraat
House number 120
Postal town Antwerpen
Post code 2018
Country Belgium
Bankruptcy details
There is no bankruptcy data against this company
Court Data
there is no data for this company
DIAMOND INDUSTRY – INDIA
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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.
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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.
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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.
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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.
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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.
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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.
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Excerpts from Times of India dated 30th October 2010 is as
under –
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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.
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.19 |
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UK Pound |
1 |
Rs.103.15 |
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Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.