MIRA INFORM REPORT

 

 

Report Date :

31.07.2014

 

IDENTIFICATION DETAILS

 

Name :

ARASCO FOOD B.V.

 

 

Registered Office :

Spaarne 57, 2011CE Haarlem

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.08.1987

 

 

Com. Reg. No.:

33195855

 

 

Legal Form :

Private company

 

 

Line of Business :

·         Engaged as Exporter of Coffee, Sesame Seeds, Cloves, cocoa Spices & Desiccated Coconut Products to Turkey

Engaged as Importer of Dried Apricots from the Malatya region and Sultana Raisins

 

 

No of Employees :

07 (2014)

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Netherlands

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

 

 

Netherlands ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009. To recover, the government sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

 

Source : CIA

 

 

Company summary

 

Company name           Arasco Food B.V.

 

Operative address       Spaarne 57

2011CE Haarlem

Netherlands

Status                          Active

Legal form                   Besloten Vennootschap (Private company)

Registration number    KvK-nummer: 33195855

VAT-number                009598807

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

31.127

119,34

14.191

-17,71

17.245

Total receivables

3.613.743

28,97

2.801.925

10,25

2.541.394

Total equity

943.675

51,43

623.178

148,62

250.655

Short term liabilities

3.876.059

38,16

2.805.475

10,19

2.546.000

Working capital

1.121.198

37,13

817.637

84,96

442.060

Quick ratio

0,93

-9,71

1,03

-4,63

1,08

 

 

 

Contact information

 

Company name           Arasco Food B.V.

 

Trade names               Arasco Food B.V.

Operative address       Spaarne 57

2011CE Haarlem

Netherlands

 

Correspondence address Spaarne 57

2011CE Haarlem

Netherlands

Telephone number      0235307510

Fax number                 0235307520

Email address              aras@arascofood.com 

Website                       www.arascofood.com

 

Registration

 

Registration number    KvK-nummer: 33195855

Branch number            000016641027

VAT-number                009598807

Status                          Active

First registration

company register         1991-04-10

Memorandum              1991-03-28

Establishment date      1987-08-01

Legal form                   Besloten Vennootschap (Private company)

Last proposed

admendment               2007-06-29

 

 

Activities

 

·         Engaged as Exporter of Coffee, Sesame Seeds, Cloves, cocoa Spices & Desiccated Coconut Products to Turkey

Engaged as Importer of Dried Apricots from the Malatya region and Sultana Raisins

 

Exporter           Yes

Importer           Yes

 

Goal                 De in- en verkoop, im- en export van koffie, zuidvruchten en andere tropisch producten, in de

meest uitgedbreide zin van het woord

Relations

(The purchase and sale, import and export of coffee, dried fruit and other tropical products, the

uitgedbreide most sense)

 

 

relations

 

Shareholders

Arasco Food Holding B.V.

Spaarne 57

2011CE HAARLEM

Netherlands

Registration number: 565938130000

Percentage: 100%

 

 

Management

 

Active Management

 

Arasco Holding B.V.

Spaarne 57

2011CE HAARLEM

Netherlands

Registration number: 332282410000

Competence: Fully authorized

Function: Manager

Starting date: 1991-03-28

 

A. Mulder (Annemarieke)

Netherlands

Competence: Fully authorized

Function: Proxy

Starting date: 2008-04-04

Date of birth: 1963-05-02, Groningen, NL

 

 

Employees

 

Total according to the Chamber of Commerce                                    7

 

 

Year                 2014     2013     2012     2011     2010

Total                 7          3          7          7          7

 

 

Payments

 

Description                              Payments are made regularly no complaints are known

 

Key figures

 

Year

2013

2012

2011

2010

2009

 

Quick ratio

0,93

1,03

1,08

0,92

0,86

 

Current ratio

1,29

1,29

1,17

1,05

0,96

 

Working capital/ balance total

0,22

0,22

0,15

0,04

-0,04

 

Equity / balance total

0,19

0,17

0,08

0,00

-0,11

 

Equity / Fixed assets

30,32

43,91

14,53

0,16

-10,73

 

Equity / liabilities

0,23

0,21

0,09

0,00

-0,10

 

Balance total / liabilities

1,23

1,21

1,09

1,00

0,90

 

Working capital

1.121.198

817.637

442.060

185.072

-115.005

Equity

943.675

623.178

250.655

4.504

-296.057

Mutation equity

51,43

148,62

5.465,16

101,52

26,35

Mutation short term liabilities

38,16

10,19

-34,97

45,26

-19,66

 

Summary

The 2013 financial result structure is a positive working capital of 1.121.198 euro, which is in

agreement with 22 % of the total assets of the company.

 

The working capital has increased with 37.13 % compared to previous year. The ratio with

respect to the total assets of the company remains unchanged.

 

The improvement between 2012 and 2013 has mainly been caused by a current liabilities

reduction.

 

The current ratio of the company in 2013 was 1.29. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

 

The quick ratio in 2013 of the company was 0.93. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

The 2012 financial result structure is a positive working capital of 817.637 euro, which is in

agreement with 22 % of the total assets of the company.

 

The working capital has increased with 84.96 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

 

The improvement between 2011 and 2012 has mainly been caused by an increase of the

current assets.

 

The current ratio of the company in 2012 was 1.29. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

 

The quick ratio in 2012 of the company was 1.03. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

 

 

 

 

 

 

 

 

Financial statement

Financial statement

 

Type of annual account                                   Corporate

Annual account                                               Arasco Food B.V.

Spaarne 57

2011CE Haarlem

Netherlands

Registration number: 331958550000

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

31.126

14.190

17.244

28.081

27.596

Financial fixed assets

1

1

1

1

2

Fixed assets

31.127

14.191

17.245

28.082

27.598

Total stock

1.382.542

729.831

238.771

502.849

261.165

Total receivables

3.613.743

2.801.925

2.541.394

3.596.808

2.315.626

Liquid funds

972

91.356

207.895

681

3.552

Current assets

4.997.257

3.623.112

2.988.060

4.100.338

2.580.343

Total assets

5.028.384

3.637.303

3.005.305

4.128.420

2.607.941

Issued capital

20.148

20.148

20.148

20.148

20.148

Share premium reserve

675.000

675.000

675.000

675.000

675.000

Other reserves

248.527

-71.971

-444.493

-690.644

-991.205

Total reserves

923.527

603.029

230.507

-15.644

-316.205

Total equity

943.675

623.178

250.655

4.504

-296.057

Long term interest yielding debt

208.650

208.650

208.650

208.650

208.650

Long term liabilities

208.650

208.650

208.650

208.650

208.650

Short term liabilities

3.876.059

2.805.475

2.546.000

3.915.266

2.695.348

Total short and long term liabilities

4.084.709

3.014.125

2.754.650

4.123.916

2.903.998

Total liabilities

5.028.384

3.637.303

3.005.305

4.128.420

2.607.941

 

Summary

The 2013 financial result structure is a positive working capital of 1.121.198 euro, which is in

agreement with 22 % of the total assets of the company.

 

The working capital has increased with 37.13 % compared to previous year. The ratio with

respect to the total assets of the company remains unchanged.

 

The improvement between 2012 and 2013 has mainly been caused by a current liabilities

reduction.

 

The current ratio of the company in 2013 was 1.29. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

 

The quick ratio in 2013 of the company was 0.93. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

The 2012 financial result structure is a positive working capital of 817.637 euro, which is in

agreement with 22 % of the total assets of the company.

 

The working capital has increased with 84.96 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

 

The improvement between 2011 and 2012 has mainly been caused by an increase of the

current assets.

 

The current ratio of the company in 2012 was 1.29. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

 

The quick ratio in 2012 of the company was 1.03. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

 

 

 

 


Analysis

 

Branch (SBI)

Wholesale trade (no motor vehicles and motorcycles) (46)

 

Region

Kennemerland

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Kennemerland 2933 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Kennemerland 57 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Kennemerland is normal

Publications

Filings

14-05-2014: De jaarrekening over 2013 is gepubliceerd.

20-03-2013: De jaarrekening over 2012 is gepubliceerd.

04-10-2011: De jaarrekening over 2010 is gepubliceerd.

26-07-2010: De jaarrekening over 2009 is gepubliceerd.

23-12-2009: De jaarrekening over 2008 is gepubliceerd.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.15

UK Pound

1

Rs.101.92

Euro

1

Rs.80.64

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.