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Report Date : |
13.03.2014 |
IDENTIFICATION DETAILS
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Name : |
PHANTO HANDELSGESELLSCHAFT M.B.H. |
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Registered Office : |
Gentzgasse 156/6, A-1180 Wien |
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Country : |
Austria |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.06.1990 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of watches and jewellery |
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No. of Employees : |
3 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Austria |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its
well-developed market economy, skilled labor force, and high standard of living,
is closely tied to other EU economies, especially Germany's. Its economy
features a large service sector, a sound industrial sector, and a small, but
highly developed agricultural sector. Following several years of solid foreign
demand for Austrian exports and record employment growth, the international
financial crisis of 2008 and subsequent global economic downturn led to a sharp
but brief recession. Austrian GDP contracted 3.8% in 2009 but saw positive
growth of about 2% in 2010 and 2.7% in 2011. Growth fell to 0.6% in 2012.
Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly
because the government subsidized reduced working hour schemes to allow
companies to retain employees. The 2012 unemployment rate of 4.3% was the lowest
within the EU. Stabilization measures, stimulus spending, and an income tax
reform pushed the budget deficit to 4.5% in 2010 and 2.6% in 2011, from only
about 0.9% in 2008. The international financial crisis of 2008 caused
difficulties for Austria's largest banks whose extensive operations in central,
eastern, and southeastern Europe faced large losses. The government provided
bank support - including in some instances, nationalization - to support
aggregate demand and stabilize the banking system. Austria's fiscal position
compares favorably with other euro-zone countries, but it faces external risks,
such as Austrian banks' continued exposure to Central and Eastern Europe as
well as political and economic uncertainties caused by the European sovereign
debt crisis. In 2011 the government attempted to pass a constitutional
amendment limiting public debt to 60% of GDP by 2020, but it was unable to
obtain sufficient support in parliament and instead passed the measure as a
simple law. In March 2012, the Austrian parliament approved an austerity
package consisting of a mix of expenditure cuts and new revenues that will
bring public finances into balance by 2016. In 2012, the budget deficit rose to
3.1% of GDP.
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Source
: CIA |
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Last up-date: |
2014-03-07 |
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Company name: |
PHANTO HANDELSGESELLSCHAFT M.B.H. |
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Status: |
active company |
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Locations: |
Gentzgasse 156/6, A-1180 Wien |
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Phone: |
0043 (1) 4780601 |
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Fax: |
0043 (1) 4786942 |
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Activities: |
Önace 46480 100% Wholesale of watches and jewellery |
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General Assessment: |
Model: Company Score |
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Probability of Default (Basel II): |
0,27% Low risk |
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comparison: |
The Rating of this company is better than industry average. |
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Recommendation: |
In respect to solvency reasons, there is nothing to say against an
establishment of a business relationship. |
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Detail Assessment: |
As far as insight is possible, payments are mostly made according to
conditions, nothing detrimental known. No experience of importance at
present. |
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Financial situation is satisfactory. |
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Year of incorporation: |
1990 |
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Activities: |
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Type of company: |
Wholesale and retail trade; repair of motor vehicles |
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Legal form: |
limited liability company since 1990-05-11 |
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companies' house number: |
FN 69501 h Wien 1990-06-21 |
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VAT number: |
ATU 16042208 |
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number - Austrian National Bank: |
1440020 |
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Import |
Country |
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Import |
Italy |
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2014 |
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Import |
Spain |
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2014 |
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Import |
Greece |
|
2014 |
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Export |
Country |
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Export |
Germany |
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2014 |
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total turnover (total sales) |
2013 |
EUR 2.000.000,00 |
(estimated) |
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total employees |
2014 |
3 |
(approx.) |
|
white collar workers |
2014 |
3 |
(approx.) |
|
total investments |
2012 |
EUR 68.742,65 |
(exact) |
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firm (style): |
|
1 Phanto
Handelsgesellschaft m.b.H. |
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legal form: |
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1 Gesellschaft mit
beschränkter Haftung |
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registered
office: |
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1 politischer Gemeinde Wien |
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business adress: |
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5 Gentzgasse 156/6 |
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capital: |
|
1 ATS 500.000 |
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reference date
annual accounts: |
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1 31. Dezember |
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annual accounts: |
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19 zum 31.12.2012 eingereicht
am 30.09.2013 |
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power of
representation: |
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1 Die Generalversammlung
bestimmt, wenn mehrere Geschäfts- |
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managing
director: |
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C Theodoros Hristodoulidis,
geb. 19.10.1961 |
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shareholder: |
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C Theodoros Hristodoulidis,
geb. 19.10.1961 |
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general table: |
|
Handelsgericht Wien |
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No real estate property registered |
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Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as registered in the companies' house) |
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Theodoros Hristodoulidis |
1961-10-19 |
1030 Wien Dampfschiffgasse 12 |
manager, partner |
0 |
(absolute) all amounts in EUR
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2012-12-31 |
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Intangible assets |
2.580,00 |
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Sum intangible assets |
2.580,00 |
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Tangible assets |
87.965,65 |
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Sum tangible assets |
87.965,65 |
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Sum fixed assets |
90.545,65 |
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Stocks |
620.067,34 |
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Sum stock |
620.067,34 |
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Claims against companies with shareholding relationship |
794.573,00 |
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Sum claims |
794.573,00 |
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Cash on hand, cheques and bank deposits |
48.227,69 |
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Sum cash and bank |
48.227,69 |
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Sum current assets |
1.462.868,03 |
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Deferred charges |
1.204,04 |
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Sum deferred charges |
1.204,04 |
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Assets |
1.554.617,72 |
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Subscribed/declared capital |
36.336,42 |
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Profit reserves |
1.592,79 |
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Balance sheet profit/balance sheet loss |
721.029,59 |
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Thereof profit/loss carried forward |
771.414,72 |
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stock |
-18.168,21 |
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Sum equity capital |
740.790,59 |
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Other reserves before taxes |
1.427,85 |
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Sum reserves before taxes |
1.427,85 |
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Reserves |
4.852,44 |
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Sum reserves |
4.852,44 |
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Liabilities |
807.546,84 |
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Sum liabilities |
807.546,84 |
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Liabilities |
1.554.617,72 |
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Balance sheet sum |
1.554.617,72 |
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2012 |
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Equity capital share |
47,74 |
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Fixed assets coverage |
819,71 |
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Type |
Locations |
Description |
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operational |
Gentzgasse 156/6, A-1180 Wien |
registered office |
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operational |
Gentzgasse 156/6, A-1180 Wien |
registered headquarters, rented premises |
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former |
Dampfschiffstraße 126/1/12, A-1180 Wien |
registered headquarters |
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former |
Dampfschiffstraße 12, A-1030 Wien |
registered office |
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Company name |
Postal code |
Stake in % |
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Companies House |
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Shares in this company are held by: |
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Theodoros Hristodoulidis |
Dampfschiffgasse 12/1/12, A-1030 Wien |
100 % 1990-05-02 |
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Affiliated companies and further participations: |
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ijewel GmbH in Liqu. |
Thurngasse 8/24, A-1090 Wien |
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|
FN 349309 s |
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Banker |
Bank sort code |
Type of banking connection |
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Erste Bank der oesterreichischen Sparkassen AG, 1011 Wien |
20111 |
main bank connection |
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Intermarket Bank AG, 1030 Wien |
73600 |
secondary banking connection |
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Raiffeisen Zentralbank Österreich, 1030 Wien |
30000 |
other bank connection |
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Year of incorporation: |
1990 |
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Date of registration: |
1990-06-21 |
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Former executives: |
|||
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From |
To |
Function |
Name |
|
|
1998-10-24 |
manager |
Georgios Panetsos |
|
|
1998-10-24 |
individual signing clerk |
Werner Hermann |
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.
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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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.09 |
|
|
1 |
Rs.101.59 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.