MIRA INFORM REPORT
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Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
JEWELEX EUROPE |
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Registered Office : |
Hoveniersstraat 30 B.191, Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
2001 |
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Com. Reg. No.: |
473898349 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Wholesaler of
other household goods (We tried to confirm / obtain the detailed activity but the same is
not available from any sources) |
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No. of Employees |
03 (31.12.2012) |
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 |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 2011 Belgian GDP grew by 1.8%, the unemployment rate
decreased slightly to 7.2% from 8.3% the previous year, and the government
reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011 and
3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%, the third
consecutive quarter of negative growth. This brought economic growth for the
whole of 2012 to negative 0.2%. It also left Belgium on the brink of a possible
recession at the end of 2012. However, at year's end, the government appeared
close to meeting its 2012 budget deficit goal of 3% of GDP. 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 & address
Jewelex Europe
Hoveniersstraat 30 B.191
Antwerpen, 2018
Belgium
Tel: 03
401 19 19
Synthesis
Employees:
3
Company Type:
Private Independent
Incorporation Date:
2001
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency:
Euro
Annual Sales:
12.5 1
Total Assets:
4.2
Business Description
Wholesaler of
other household goods
Industry
Industry Miscellaneous
Wholesale
ANZSIC 2006:
3739 - Other Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4:
4649 - Wholesale of other household goods
NACE Rev 2:
4649 - Wholesale of other household goods
NAICS 2012:
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2007:
46499 - Wholesale of household goods (other than musical instruments) n.e.c.
US SIC 1987:
5099 - Durable Goods, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Nishit Kothari |
Partner |
|
Hemal V Mody |
Managing Director |
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Jogani Virat |
Administrator, Partner |
|
Jitendra Jayantilal Shah |
Administrator |
|
Bart Filip Gerard Meynendonckx |
Representative/Auditor |
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
30 B.191
Antwerpen, 2018
Belgium
Tel: 03 401 19 19
Sales EUR(mil): 9.7
Assets EUR(mil): 3.2
Employees: 3
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous Capital
Goods
Incorporation
Date: 2001
Company Type: Private Independent
Quoted Status: Not Quoted
Registered
No.(VAT): 473898349
Managing
Director: Hemal V Mody
Industry Codes
ANZSIC 2006
Codes:
3739 - Other
Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4 Codes:
4649 - Wholesale
of other household goods
NACE Rev 2 Codes:
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:
46499 - Wholesale
of household goods (other than musical instruments) n.e.c.
Business Description
Wholesaler of
other household goods
executive
report
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Board of Directors |
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Managing Director |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Administrator |
Administration Executive |
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Administrator, Partner |
Administration Executive |
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Representative/Auditor |
Accounting Executive |
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Partner |
Partner |
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Annual Profit & Loss
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
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Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Turnover |
12.5 |
11.7 |
9.9 |
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Other Operating Income |
0.0 |
0.0 |
0.0 |
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Operating Income |
12.5 |
11.7 |
9.9 |
|
Purchases |
10.7 |
9.0 |
9.3 |
|
Increase
or Decrease in Stocks |
0.4 |
1.3 |
-0.9 |
|
Raw Materials, Consumables, and
Goods for Release |
11.1 |
10.3 |
8.5 |
|
Services and Sundry Goods |
0.3 |
0.5 |
0.6 |
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Remuneration, Social Security
Charges, and Pensions |
0.1 |
0.2 |
0.2 |
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Depreciation of and Other Amounts
Written Off of Formation Expense, Intangible and Tangible Fixed Assets |
0.1 |
0.1 |
0.0 |
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Increase or Decrease in Amounts
Written Off Stocks, Orders, and Trade Debtors |
0.5 |
- |
- |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating Charges |
12.1 |
11.0 |
9.3 |
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Other Financial Income |
0.0 |
0.0 |
0.0 |
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Financial Income |
0.0 |
0.0 |
0.0 |
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Interest and Other Debt Charges |
0.1 |
0.1 |
0.1 |
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Other Financial Charges |
0.2 |
0.3 |
0.4 |
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Financial Charges |
0.3 |
0.4 |
0.5 |
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Income Taxes |
0.0 |
0.1 |
0.0 |
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Adjustment of Income Taxes and Write-Back
of Tax Provisions |
0.0 |
- |
- |
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Income Taxes |
0.0 |
0.1 |
0.0 |
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To Capital
and Share Premium Account |
- |
- |
0.1 |
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To the
Legal Reserve |
- |
- |
0.0 |
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Transfers to Capital and Reserves |
- |
- |
0.1 |
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Employees |
3 |
3 |
4 |
Annual Balance Sheet
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Land &
Buildings |
0.5 |
0.6 |
0.6 |
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Plant,
Machinery, and Equipment |
0.0 |
0.0 |
0.0 |
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Furniture
and Vehicles |
0.0 |
0.0 |
0.0 |
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Tangible Assets |
0.5 |
0.6 |
0.6 |
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Amounts
Receivable and Cash Guarantees |
0.1 |
0.1 |
0.1 |
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Other
Capital Assets |
0.1 |
0.1 |
0.1 |
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Capital Assets |
0.1 |
0.1 |
0.1 |
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Fixed Assets |
0.6 |
0.6 |
0.7 |
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Goods
Purchased for Resale |
0.6 |
1.1 |
2.3 |
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Stocks |
0.6 |
1.1 |
2.3 |
|
Inventory and Orders in Progress |
0.6 |
1.1 |
2.3 |
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Trade
Debtors |
2.5 |
3.3 |
2.5 |
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Other
Amounts Receivable |
0.0 |
0.0 |
0.0 |
|
Amounts Receivable Within One Year |
2.5 |
3.3 |
2.6 |
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Liquid Assets |
0.4 |
0.7 |
0.3 |
|
Adjustment Accounts |
0.0 |
0.0 |
- |
|
Current Assets |
3.6 |
5.1 |
5.1 |
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Total Assets |
4.2 |
5.7 |
5.8 |
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Issued
Capital |
1.5 |
1.5 |
1.5 |
|
Capital |
1.5 |
1.5 |
1.5 |
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Legal
Reserve |
0.2 |
0.2 |
0.2 |
|
Reserves |
0.2 |
0.2 |
0.2 |
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Capital and Reserves |
2.5 |
2.4 |
2.2 |
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Credit
Institutions |
- |
0.0 |
0.0 |
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Financial
Debts |
- |
0.0 |
0.0 |
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Amounts Due After More Than One
Year |
- |
0.0 |
0.0 |
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Current
Portion of Amounts Payable After More Than One Year |
0.0 |
0.0 |
0.0 |
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Credit
Institutions |
0.2 |
- |
- |
|
Other
Loans |
0.1 |
1.3 |
1.3 |
|
Financial
Debts |
0.3 |
1.3 |
1.3 |
|
Suppliers |
1.4 |
1.6 |
1.9 |
|
Trade
Debts |
1.4 |
1.6 |
1.9 |
|
Taxes |
0.0 |
0.0 |
0.0 |
|
Remuneration
and Social Security |
0.0 |
0.0 |
0.0 |
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Taxes,
Wages, and Social Security |
0.0 |
0.0 |
0.0 |
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Other
Amounts Payable |
0.0 |
0.3 |
0.3 |
|
Amounts Payable Within One Year |
1.7 |
3.3 |
3.6 |
|
Creditors |
1.7 |
3.3 |
3.6 |
|
Total Liabilities + Shareholders' Equity |
4.2 |
5.7 |
5.8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
UK Pound |
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
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 |
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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 |
|
|
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 |
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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.