|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIXTY
RETAIL GERMANY GMBH |
|
|
|
|
Registered Office : |
Kurhessenstr.
1 D 64546 Mörfelden-Walldorf |
|
|
|
|
Country : |
Germany |
|
|
|
|
Date of Incorporation : |
10.01.2014 |
|
|
|
|
Legal Form : |
Private
limited company |
|
|
|
|
Line of Business : |
Wholesale
of textiles |
|
|
|
|
No. of Employees |
05 |
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) |
|
Germany |
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 |
GERMANY ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, has contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production
|
Source
: CIA |
SIXTY RETAIL GERMANY GMBH
Company Status: active
Kurhessenstr. 1
D 64546 Mörfelden-Walldorf
Telephone:06105/9793179
E-mail: deutschland@sixty.net
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 22.08.2012
Shareholders'
agreement: 22.08.2012
Registered on: 10.01.2014
Commercial Register: Local court 64283 Darmstadt
under: HRB
92812
Share capital: EUR 25,000.00
Shareholder:
SIXTY EUROPE S.A.
2. Avenue Charles de
Gaulles
L L-1653 Luxemburg
Legal form: Other legal
form
Share: EUR 25,000.00
Manager:
Andre Chen
RC Shanghai
having sole power of
representation
born: 09.02.1967
Nationality: Chinese
27.08.2012 - 22.11.2012 pertus Einundsechzigste GmbH
Torstr. 138
D 10119 Berlin
Private limited
company
22.11.2012 - 13.12.2012 Sixty Distribution Germany GmbH
Speditionstr. 5
D 40221 Düsseldorf
Private limited
company
13.12.2012 - 10.01.2014 Sixty Retail Germany GmbH
Speditionstr. 5
D 40221 Düsseldorf
Private limited
company
10.12.2012 - 08.10.2013 Manager
Shiu Leung Ho
RC Hong Kong
06.09.2012 - 27.11.2012 Manager
Cornelia Wendt
D 10119 Berlin
Main industrial sector
1399
Manufacture of other textiles n.e.c.
4641 Wholesale of textiles
47510 Retail sale of textiles
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Kurhessenstr. 1
D 64546
Mörfelden-Walldorf
Land register documents were not available.
A bank connection is unknown.
Financial year: 01.01.
- 31.12.
Turnover: 2013 *EUR 700,000.00
Share capital: EUR 25,000.00
Equipment: EUR 25,000.00
Ac/ts receivable: *EUR 101,500.00
Liabilities: *EUR
176,500.00
Employees:
5
The business figures marked with an asterisk
are estimates based on average values in the line of business.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.