MIRA INFORM REPORT

Report Date :

05.05.2014

IDENTIFICATION DETAILS

Name :	RUBO LEDERWAREN V.O.F.
Registered Office :	Geerde 4, 5142NP Waalwijk
Country :	Netherlands
Date of Incorporation :	01.11.1991
Com. Reg. No.:	56843445
Legal Form :	General Partnership
Line of Business :	· Manufacturer of footwear Wholesaler of footwear
No of Employees :	02 (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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

The Dutch economy is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an 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. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. 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 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. 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. The government also 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 fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit in 2011. In 2012-13 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent.

Source : CIA

Summary

Company name Rubo Lederwaren v.o.f.

Operative address Geerde 4

5142NP Waalwijk

Netherlands

Status Active

Legal form Vennootschap Onder Firma (General Partnership)

Registration number KvK-nummer: 56843445

VAT-number 852327936

Contact information

Company name Rubo Lederwaren v.o.f.

Trade names Rubo Lederwaren

Operative address Geerde 4

5142NP Waalwijk

Netherlands

Correspondence address Geerde 4

5142NP Waalwijk

Netherlands

Telephone number 0416859788

Mobile number 0612022694

Email address info@rubolederwaren.nl

Website www.rubolederwaren.nl

Registration

Registration number KvK-nummer: 56843445

Branch number 000006225187

VAT-number 852327936

Status Active

Establishment date 1991-11-01

Legal form Vennootschap Onder Firma (General Partnership)

Activities

SBI Manufacture of footwear (1520)

Wholesale of footwear (46424)

Goal Productie en handel in lederwaren

Relations

Management

Active management

G.J.T. Adriaanse - de Ruijter (Gertruda Johanna Theresia)

Geerde 4

5142NP Waalwijk

Netherlands

Competence: Limited authorization

Function: Partner

Starting date: 2013-01-01

Date of birth: 1951-07-17, Waalwijk, NL

K.J.A. Adriaanse (Karin Johanna Antoinetta)

Wilhelmina Druckerstraat 14

5142PR Waalwijk

Rubo Lederwaren v.o.f.

Page: 2 / 4

25-04-2014 Applicant

MIRA INFORM

Netherlands

Competence: Limited authorization

Function: Partner

Starting date: 2013-01-01

Date of birth: 1978-07-16, Waalwijk, NL

A.C.A.M. Adriaanse (Andries Cornelis Augustinus Ma)

Geerde 4

5142NP Waalwijk

Netherlands

Competence: Fully authorized

Function: Proxy

Starting date: 2013-01-01

Date of birth: 1950-02-12, Waalwijk, NL

Employees

Total according to the Chamber of Commerce 2

Year 2014

Total 2

Payments

Description The payments are regular

Analysis

Branch (SBI) Manufacture of leather, products of leather and footwear (15)

Region Midden-Brabant

In the Netherlands 510 of the companies are registered with the SBI code 15

In the region Midden-Brabant 138 of the companies are registered with the SBI code 15

In the Netherlands 11 of the bankrupcties are published within this sector

In the region Midden-Brabant 3 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 Midden-Brabant is normal

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.22
UK Pound	1	Rs.101.68
Euro	1	Rs.83.46

INFORMATION DETAILS

Analysis Done by :	SUM
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.