|
Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHAILEY GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 53 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.10.2000 |
|
|
|
|
Com. Reg. No.: |
473008523 |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
LINE OF BUSINESS : |
WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES. |
|
|
|
|
No. of Employees |
Not Available |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Belgium |
A1 |
A1 |
|
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 473008523
Company name SHAILEY GEMS BVBA
Address HOVENIERSSTRAAT
53 2018 ANTWERPEN
Number of staff 0
Date of establishment 06/10/2000
Telephone number 032335816
Fax number 032337159
The business was established over 13 years ago.
No employees are recorded for this business.
The business has been at the address for over 12 years.
The business saw a decrease in their Cash Balance of 43% during the latest trading period.
Working Capital is a negative amount during the latest trading period
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net
worth |
Working
capital |
|
31/12/2013 |
6,856,690 |
13,277 |
66,369 |
-19,958 |
|
31/12/2012 |
7,404,463 |
-29,035 |
56,197 |
-33,112 |
|
31/12/2011 |
6,085,285 |
14,569 |
89,417 |
-3,582 |
|
Date
of latest accounts |
Balance
Total |
Number
of Employees |
Capital |
Cashflow |
|
31/12/2013 |
2,199,942 |
0 |
20,000 |
14,386 |
|
31/12/2012 |
2,170,007 |
0 |
20,000 |
-29,170 |
|
31/12/2011 |
1,913,396 |
0 |
20,000 |
16,559 |
Past payments Payment expectation days 95.36
Industry average payment
expectation days 164.62 Industry average day sales 125.64
Day sales outstanding 63.77 Outstanding
Business number 473008523
Company name SHAILEY GEMS BVBA
Fax number 032337159
Date founded 06/10/2000
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
VATNumber BE.0473.008.523
Activity description Wholesale of diamonds and other precious stones
Annual accounts 31-12-2013 % 31-12-2012 % 31-12-2011 Industry
Average
2013 %
Weeks 52 52 52
Currency EUR EUR EUR
Turnover 6,856,690 -7.40 7,404,463 21.68 6,085,285 57,488,291 -88.07
Total operating expenses 6,833,152 -7.90 7,419,451 22.47 6,058,010 56,827,363 -87.98
Operating result 23,538 157 -14,987 -154 27,275 389,555 -93.96
Total financial income 505 577 75 43.15 52 166,549 -99
Total financial expenses 10,767 -23.76 14,123 10.70 12,758 434,056 -97.52
Results on ordinary operations before
taxation 13,277 45.73 -29,035 -299 14,569 105,124 -87.37
Taxation 3,105 -25.81 4,185 39.50 3,000 26,057 -88.09
Results on ordinary operations after
Taxation 10,172 30.62 -33,220 -387 11,569 84,233 -87.92
Extraordinary items 0 - 0 - 0 2,003 -100
Other appropriations 0.00 - 0.00 - 0.00 - -
Net result 10,172 30.62 -33,220 -387 11,569 86,236 -88.20
Gross Operating Margin 30,992 -19.30 38,403 8.12 35,520 77,630 -60.08
Dividends - - - - - 388,557 -
Director remuneration - - - - - 145,815 -
Employee costs - - - - - 185,938 -
Wages and salary - - - - - 152,740 -
Employee pension costs - - - - - 0 -
Social security contributions - - - - - 41,461 -
Other employee costs 0 - 0 - 0 5,202 -100
Amortization and depreciation 4,214 4.03 4,051 -18.82 4,990 29,605 -85.77
|
Annual accounts |
31-12-2013 % |
31-12-2012 % |
31-12-2011 |
Industry average |
% |
||
|
|
|
|
|
2013 |
|
||
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,275 |
-100 |
|
Tangible
fixed assets |
86,036 |
-3.35 |
89,018 |
-3.98 |
92,709 |
301,659 |
-71.48 |
|
Land
& building |
84,579 |
-3.52 |
87,667 |
-3.40 |
90,754 |
581,881 |
-85.46 |
|
Plant
& machinery |
- |
- |
- |
- |
- |
56,759 |
- |
|
Furniture
& Vehicles |
1,457 |
7.78 |
1,352 |
-30.87 |
1,955 |
17,290 6,089 |
-91.57 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
153,494 20,215 |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
6,254 |
-100 |
|
Financial
fixed assets |
290 |
0 |
290 |
0 |
290 |
42,749 |
-99 |
|
Total
fixed assets |
86,326 |
-3.34 |
89,308 |
-3.97 |
92,999 |
312,248 |
-72.35 |
|
Inventories |
900,685 |
11.23 |
809,772 |
21.93 |
664,116 |
6,258,050 |
-85.61 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
- |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
9,090 |
-100 |
|
Finished
goods |
0 |
- |
0 |
- |
0 |
4,963,965 |
-100 |
|
Other
stocks |
900,685 |
11.23 |
809,772 |
21.93 |
664,116 |
475,764 |
89.31 |
|
Trade
debtors |
1,197,947 |
-3.68 |
1,243,769 |
14.77 |
1,083,732 |
10,978,361 |
-89.09 |
|
Cash |
13,626 |
-43.67 24,191 |
-65.70 |
70,521 |
556,401 |
-97.55 |
|
|
other
amounts receivable |
494 |
-76.56 2,106 |
80.72 |
1,165 |
300,792 |
-99 |
|
|
Miscellaneous
current assets |
863 |
0 |
863 |
-0.06 |
863 |
41,846 |
-97.94 |
|
Total
current assets |
2,113,615 |
1.58 |
2,080,699 |
14.30 |
1,820,397 |
17,321,423 |
-87.80 |
|
Total
Assets |
2,199,942 |
1.38 |
2,170,007 |
13.41 |
1,913,396 |
17,604,061 2,834,926 |
-87.50 |
Trade creditors 1,785,316 1.38 1,761,012 21.12 1,453,901 6,698,001 -73.35
Short term group loans - - - - - - -
Financial debts 3000,000
0 300,000 0
300,000 9,860,031 -96.96
573,229
Current portion of long term debt - - - - - 57,894 15,449 -
Amounts Payable for Taxes,
Remuneration & Social Security
3,500 600 500 -90.83 5,450 11,151 - -92.07
Miscellaneous current liabilities 44,757 -14.42 52,299 -19.08 64,628 -93.60 --
Total current liabilities 2,133,573 0.93 2,113,811 15.89 1,823,979 12,634,610 -83.11
LONG TERM DEBTS AND LIABILITIES
Long term group loans - - - - - - --
Other long term loans - - - - - - --
Deffered taxes - - - - - 00 -
Provisions for Liabilities & Charges 0 - 0 - 0 5,397 0 -100
Other long term liabilities 0 - 0 - 0 171,246 -100
Total long term debts 0 - 0 - 0 1,585,076 -100
SHAREHOLDERS EQUITY
Issued share capital 20,000 0 20,000 0 20,000 2,456,291 -99
Share premium account - - - - - 292,813 -
Reserves 46,369 28.10 36,197 -47.86 69,417 829,453 -94.41
Revaluation reserve - - - - - 1,662,858 -
Total shareholders equity 66,369 18.10 56,197 -37.15 89,417 3,384,375 -98.04
Working capital -19,958 60.27 -33,112 -824 -3,582 4,686,813 -100
Cashflow 14,386 49.32 -29,170 -276 16,559 111,247 -87.07
Net worth 66,369 18.10 56,197 -37.15 89,417 3,383,100 -98.04
|
Profit
Before Tax |
0.19 |
48.72 |
-0.39 |
-262 |
0.24 |
10,00 |
-98.10 |
|
Return
on capital employed |
20 |
38.71 |
-51.67 |
-417 |
16.29 |
-3,00 |
666 |
|
Return
on total assets employed |
0.60 |
44.78 |
-1.34 |
-276 |
0.76 |
-11,00 |
5.45 |
|
Return
on net assets employed |
20 |
38.71 |
-51.67 |
-417 |
16.29 |
9,00 |
122 |
|
Sales
/ net working capital |
-343.56 |
-53.64 |
-223.62 |
13.16 |
-1698.84 |
25,00 |
-100 |
|
Stock
turnover ratio |
13.14 |
20.11 |
10.94 |
0.27 |
10.91 |
22,00 |
-40.27 |
|
Debtor
days |
63.77 |
4.01 |
61.31 |
-5.68 |
65 |
162,00 |
-60.64 |
|
Creditor
days |
95.36 |
10.08 |
86.63 |
-1.11 |
87.60 |
95,00 |
0.38 |
|
|
|
short
term stability |
|
|
|
|
|
|
Current
ratio |
0.99 |
1.02 |
0.98 |
-2.00 |
1 |
9,00 |
-94.50 |
|
Liquidity
ratio / acid ratio |
0.57 |
-5.00 |
0.60 |
-4.76 |
0.63 |
5,00 |
-88.60 |
|
Current
debt ratio |
32.15 |
-14.52 |
37.61 |
84.36 |
20.40 |
18,00 |
78.61 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
|
long
term stability |
|
|
|
|
|
|
Gearing |
452.02 |
-15.33 |
533.84 |
59.11 |
335.51 |
300,00 |
50.67 |
|
Equity
in percentage |
3.02 |
16.60 |
2.59 |
-44.54 |
4.67 |
-7,00 |
43.14 |
|
Total
debt ratio |
32.15 |
-14.52 |
37.61 |
84.36 |
20.40 |
20,00 |
60.75 |
Activity
code 46761
Activity
description Wholesale of diamonds and
other precious stones
Payment expectations
Payment expectation days 95.36
Day sales outstanding 63.77
Activity
code 46761
Activity
description Wholesale of diamonds and
other precious stones
Industry
average payment 164.62
expectation
days Industry average day sales 125.64
outstanding
Payment
expectations
Company
result 95.36
Lower
134.13
Median
84.93
Upper
45.40
Company
result 63.77
Lower 110.17
Median 59.01
Upper 28.09
Group Structure
No group
structure for this company.
Minority Shareholders
No
minority shareholders found
Minority Interests
No
minority interests found
Business
number 473008523
Name
of defendant –
Legal
form of defendant
-Date of summons –
Labour
court -
Bankruptcy Data
There
is no bankruptcy data against this company
Court data
there
is no data for this company Director details
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.60.18 |
|
|
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
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.