MIRA INFORM REPORT

Report Date :

07.03.2014

IDENTIFICATION DETAILS

Name :	UNITASK

Registered Office :	Hoveniersstraat 2 B.146 Antwerpen, 2018

Country :	Belgium

Financials (as on) :	31.12.2012

Date of Incorporation :	1992

Com. Reg. No.:	447684197

Legal Form :	Private Subsidiary

Line of Business :	Wholesale of household goods (other than musical instruments).

No. of Employees :	18

RATING & COMMENTS

MIRA’s Rating :

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 – September 30, 2013

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Belgium

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 and address

UNITASK

Hoveniersstraat 2 B.146


Antwerpen, 2018
Belgium


Tel:	03 232 76 76
Fax:	03 231 65 07

$Description: \\vivek\Foreign Report Raw\Unitask_files\arrow_002.gif$ Suggest Company URL

Employees:	18
Company Type:	Private Subsidiary
Corporate Family:	2 Companies
Ultimate Parent:	United Industrial Diamonds

Incorporation Date:	1992


Fiscal Year End:	31-Dec-2012
Reporting Currency:	Euro
Annual Sales:	11.2 ¹
Total Assets:	22.0

Business Description

Other wholesale

Industry

Industry	Miscellaneous Wholesale
ANZSIC 2006:	3739 - Other Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4:	4690 - Non-specialized wholesale trade
NACE Rev 2:	4690 - Non-specialised wholesale trade
NAICS 2012:	423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2007:	4690 - Non-specialised wholesale trade
US SIC 1987:	5099 - Durable Goods, Not Elsewhere Classified

Key Executives

Name	Title
Joseph Wechsler	Managing Director
Maurice Wechsler	Administrator
Zvi Iyzchak Weinroth	Administrator
Marc Marissen	Representative/Auditor
Emile Rene Augustina Louisa Walkiers	Representative/Auditor

News

Title	Date
Immediate relief for Oracle headaches IT Web (20 Words)	2-Dec-2013
Work During 'Power Hours' To Get More Done In Less Time Lifehacker Australia (162 Words)	3-Nov-2013
Work During Power Hours to Get More Done in Less Time Blodic.us (31 Words)	2-Nov-2013
Work During Power Hours to Get More Done in Less Time Lifehacker (196 Words)	2-Nov-2013
Quit Multitasking How To Unitask And Get More Done Big News Network (64 Words)	19-Sep-2013
MTV study finds young millenials seek more social media privacy Sacramento Bee (CA) (1280 Words)	25-Jul-2013

Registered No.(VAT): 447684197

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566

Corporate Overview

Location
Hoveniersstraat 2 B.146
Antwerpen, 2018
Belgium

Tel:	03 232 76 76
Fax:	03 231 65 07

$Description: \\vivek\Foreign Report Raw\Unitask_files\externalright.gif$ Suggest Company URL

$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$

Sales EUR(mil):	8.8
Assets EUR(mil):	16.7
Employees:	18
Fiscal Year End:	31-Dec-2012

$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$
Industry:	Miscellaneous Capital Goods

$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$

Incorporation Date:	1992
Company Type:	Private Subsidiary
Quoted Status:	Not Quoted
Registered No.(VAT):	447684197

$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$
Managing Director:	Samuel Wechsler

Industry Codes

ANZSIC 2006 Codes:
3739	-	Other Goods Wholesaling Not Elsewhere Classified

ISIC Rev 4 Codes:
4690	-	Non-specialized wholesale trade
4649	-	Wholesale of other household goods

NACE Rev 2 Codes:
4690	-	Non-specialised wholesale trade
4649	-	Wholesale of other household goods

NAICS 2012 Codes:
423990	-	Other Miscellaneous Durable Goods Merchant Wholesalers

US SIC 1987:
5099	-	Durable Goods, Not Elsewhere Classified

UK SIC 2007:
4690	-	Non-specialised wholesale trade
46499	-	Wholesale of household goods (other than musical instruments) n.e.c.

Business Description

Other wholesale

Financial Data

Financials in:	EUR(mil)
$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$
Revenue:	8.8
Assets:	16.7
Current Assets:	14.3
Fixed Assets:	2.3
Total Liabilities:	16.7
Issued Capital:	0.1
Net Worth:	0.1
$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$
Date of Financial Data:	31-Dec-2012

$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$

1 Year Growth

-95.0%

Corporate Structure News

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
United Industrial Diamonds	Parent
Unitask	Subsidiary	Antwerpen	Belgium	Miscellaneous Wholesale	11.2	18

Executives Report

Unitask

Antwerpen, , Belgium, Tel: 03 232 76 76

$Description: \\vivek\Foreign Report Raw\Unitask_files\spacer.gif$

Board of Directors

Name

Title

Function

Samuel Wechsler

Managing Director

Director/Board Member

Joseph Wechsler

Managing Director

Director/Board Member

Executives

Name

Title

Function

Samuel Wechsler

Managing Director

Joseph Wechsler

Managing Director

Maurice Wechsler

Administrator

Administration Executive

Zvi Iyzchak Weinroth

Administrator

Administration Executive

Marc Marissen

Representative/Auditor

Accounting Executive

Emile Rene Augustina Louisa Walkiers

Representative/Auditor

Accounting Executive

Age: 68

News

	Immediate relief for Oracle headaches IT Web (20 Words)	02-Dec-2013
	Work During 'Power Hours' To Get More Done In Less Time Lifehacker Australia (162 Words)	03-Nov-2013
	Work During Power Hours to Get More Done in Less Time Blodic.us (31 Words)	02-Nov-2013
	Work During Power Hours to Get More Done in Less Time Lifehacker (196 Words)	02-Nov-2013
	Quit Multitasking How To Unitask And Get More Done Big News Network (64 Words)	19-Sep-2013
	MTV study finds young millenials seek more social media privacy Sacramento Bee (CA) (1280 Words)	25-Jul-2013

Annual Profit & Loss

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Period Length	52 Weeks	52 Weeks	52 Weeks
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078
Consolidated	No	No	No

Turnover	11.2	11.8	-
Other Operating Income	0.3	0.2	-
Operating Income	11.6	12.0	-
Purchases	8.4	10.5	-
Increase or Decrease in Stocks	-0.6	-1.8	-
Raw Materials, Consumables, and Goods for Release	7.8	8.7	-
Services and Sundry Goods	2.3	1.9	-
Remuneration, Social Security Charges, and Pensions	0.9	0.6	0.3
Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets	0.3	0.1	0.0
Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors	0.0	-	-
Other Operating Charges	0.0	0.0	0.0
Operating Charges	11.3	11.2	-
Income From Current Assets	0.0	0.0	-
Other Financial Income	0.3	0.0	-
Financial Income	0.3	0.0	0.0
Interest and Other Debt Charges	0.4	0.3	-
Other Financial Charges	0.1	0.4	-
Financial Charges	0.5	0.6	0.1
Income Taxes	0.0	0.1	-
Adjustment of Income Taxes and Write-Back of Tax Provisions	0.0	0.0	-
Income Taxes	0.0	0.1	0.0
To the Legal Reserve	-	0.0	0.0
Transfers to Capital and Reserves	-	0.0	0.0
Employees	18	16	8

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406
Consolidated	No	No	No

Intangible Assets	0.7	0.1	0.1
Land & Buildings	2.2	1.9	0.7
Plant, Machinery, and Equipment	0.1	0.1	0.0
Furniture and Vehicles	0.0	0.0	0.0
Leasing and Other Similar Rights	0.0	0.0	-
Tangible Assets	2.3	2.0	0.8
Amounts Receivable and Cash Guarantees	0.1	0.1	-
Other Capital Assets	0.1	0.1	-
Capital Assets	0.1	0.1	0.0
Fixed Assets	3.1	2.2	0.9
Goods Purchased for Resale	10.9	10.1	-
Stocks	10.9	10.1	8.7
Inventory and Orders in Progress	10.9	10.1	8.7
Trade Debtors	7.6	6.2	4.7
Other Amounts Receivable	0.0	0.1	0.1
Amounts Receivable Within One Year	7.6	6.3	4.8
Liquid Assets	0.0	0.0	0.1
Adjustment Accounts	0.4	0.0	0.0
Current Assets	18.9	16.5	13.6
Total Assets	22.0	18.7	14.5
Issued Capital	0.1	0.1	0.1
Capital	0.1	0.1	0.1
Legal Reserve	0.0	0.0	0.0
Reserves	0.0	0.0	0.0
Capital and Reserves	0.2	0.2	0.1
Leasing and Other Similar Obligations	0.0	-	-
Credit Institutions	0.7	0.7	-
Other Loans	9.3	-	-
Financial Debts	9.9	0.7	0.0
Other Amounts Payable	0.0	0.0	-
Amounts Due After More Than One Year	9.9	0.7	0.0
Current Portion of Amounts Payable After More Than One Year	0.0	0.0	0.0
Credit Institutions	5.8	4.6	1.3
Financial Debts	5.8	4.6	1.3
Suppliers	3.8	6.9	7.7
Trade Debts	3.8	6.9	7.7
Taxes	0.1	0.1	0.0
Remuneration and Social Security	0.1	0.1	0.1
Taxes, Wages, and Social Security	0.2	0.2	0.1
Other Amounts Payable	1.9	6.1	5.3
Amounts Payable Within One Year	11.8	17.7	14.4
Adjustment Accounts	0.0	-	-
Creditors	21.8	18.4	14.4
Total Liabilities + Shareholders' Equity	22.0	18.7	14.5

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.32
UK Pound	1	Rs.102.54
Euro	1	Rs.84.19

INFORMATION DETAILS

Report Prepared by :

NIS

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.