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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
PROFESSIONAL PACK
D.O.O. BEOGRAD |
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Registered Office : |
Partizanskih
Ucitelja 16/2, RS 11080 Beograd (Zemun) |
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Country : |
Serbia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.06.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of machinery for paper and paperboard production |
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No of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but correct |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Serbia |
B2 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
SERBIA - ECONOMIC OVERVIEW
Serbia has a transitional
economy largely dominated by market forces, but the state sector remains
significant in certain areas and many institutional reforms are needed. The economy
relies on manufacturing and exports, driven largely by foreign investment.
MILOSEVIC-era mismanagement of the economy, an extended period of international
economic sanctions, civil war, and the damage to Yugoslavia's infrastructure
and industry during the NATO airstrikes in 1999 left the economy only half the
size it was in 1990. After the ousting of former Federal Yugoslav President
MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS)
coalition government implemented stabilization measures and embarked on a
market reform program. After renewing its membership in the IMF in December
2000, Serbia continued to reintegrate into the international community by
rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development
(EBRD). Serbia has made progress in trade liberalization and enterprise
restructuring and privatization, but many large enterprises - including the
power utilities, telecommunications company, natural gas company, and others -
remain in state hands. Serbia has made some progress towards EU membership,
signing a Stabilization and Association Agreement with Brussels in May 2008,
and with full implementation of the Interim Trade Agreement with the EU in
February 2010, gained candidate status in March 2012. In January 2014, Serbia's
EU accession talks officially opened. Serbia's negotiations with the World
Trade Organization are advanced, with the country's complete ban on the trade
and cultivation of agricultural biotechnology products representing the primary
remaining obstacle to accession. Serbia's program with the IMF was frozen in
early 2012 because the 2012 budget approved by parliament deviated from the
program parameters; the arrangement is now void. However, an IMF mission
visited Serbia in February 2014 to initiate discussions with Serbian
authorities on a possible new IMF arrangement and these talks will continue
following the formation of the new government. High unemployment and stagnant
household incomes are ongoing political and economic problems. Structural
economic reforms needed to ensure the country's long-term prosperity have
largely stalled since the onset of the global financial crisis. Growing budget
deficits constrain the use of stimulus efforts to revive the economy and contribute
to growing concern of a public debt crisis, given that Serbia's total public
debt as a share of GDP doubled between 2008 and 2013. Serbia's concerns about
inflation and exchange-rate stability may preclude the use of expansionary
monetary policy. During the recent election campaign, the victorious SNS party
promised comprehensive economic reform during the first half of 2014 to address
issues with the fiscal deficit, state-owned enterprises, the labor market,
construction permits, bankruptcy and privatization, and other areas. Major
challenges ahead include: high unemployment rates and the need for job
creation; high government expenditures for salaries, pensions, healthcare, and
unemployment benefits; a growing need for new government borrowing; rising public
and private foreign debt; attracting new foreign direct investment; and getting
the IMF program back on track. Other serious longer-term challenges include an
inefficient judicial system, high levels of corruption, and an aging
population. Factors favorable to Serbia's economic growth include its strategic
location, a relatively inexpensive and skilled labor force, and free trade
agreements with the EU, Russia, Turkey, and countries that are members of the
Central European Free Trade Agreement (CEFTA).
|
Source
: CIA |
PROFESSIONAL PACK D.O.O.
PROFESSIONAL PACK D.O.O. BEOGRAD
Partizanskih
Ucitelja 16/2
RS 11080 Beograd
(Zemun)
Tel: +381
11/3143100
Fax: +381
11/3143100
Mob.: +381
64/2612416
E-Mail: excel@beotel.rs
Web: www.professionalpackrs.com
|
Legal form |
Ltd. - Limited Liability company |
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Established |
17.06.2010 |
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Registered |
National Identification Number: 20657006 PIB (Value Added Tax): 106673752 |
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Establisher |
Janez Resek Macedonia |
100.00% |
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Basic capital |
EUR 227.00 (31.12.2013) |
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Management |
Janez Resek, Director |
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Activity |
Basic activity (according to National
activity classification): |
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Business
Premises |
Registered Address: Partizanskih Ucitelja 16/2, Beograd (Zemun) |
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Motor pool |
Data not available |
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Staff |
2013 |
1 employees |
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2012 |
1 employees |
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Revenue |
2013 revenue |
EUR |
170,174 |
|
|
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2012 revenue |
EUR |
35,743 |
|
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2011 revenue |
EUR |
16,915 |
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2010 revenue |
EUR |
48,471 |
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Real estate |
Subject company has no real estate |
|
Balance Sheet |
EUR |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
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FIXED ASSETS |
837 |
0 |
0 |
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Subscribed capital unpaid |
0 |
0 |
0 |
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Intangible fixed assets |
0 |
0 |
0 |
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Tangible fixed assets |
837 |
0 |
0 |
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Other fixed assets |
0 |
0 |
0 |
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CURRENT ASSETS |
11,561 |
5,761 |
1,653 |
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Inventories |
4,054 |
0 |
0 |
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Short – term loans |
7,507 |
5,761 |
1,653 |
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*Cash and cash equivalent |
5,911 |
5,761 |
0 |
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Other current assets |
0 |
0 |
0 |
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LOSS |
0 |
0 |
0 |
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TOTAL ASSETS |
12,398 |
5,761 |
1,653 |
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EQUITY |
7,820 |
3,298 |
1,003 |
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Capital |
227 |
229 |
248 |
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Subscribed capital unpaid |
0 |
0 |
248 |
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Reserves |
0 |
0 |
0 |
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Revalorization reserves |
0 |
0 |
0 |
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Undistributed Income |
7,594 |
3,069 |
506 |
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Loss |
0 |
0 |
0 |
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Treasury shares |
0 |
0 |
0 |
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LONG TERM RESERVATIONS |
0 |
0 |
0 |
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LONG TERM LIABILITIES |
0 |
0 |
0 |
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SHORT TERM LIABILITIES |
4,577 |
2,463 |
650 |
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OTHER LIABILITIES |
0 |
0 |
0 |
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TOTAL LIABILITIES |
12,398 |
5,761 |
1,653 |
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Profit And Loss
Account |
EUR |
31.12.2013 |
31.12.2012 |
31.12.2011 |
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OPERATING REVENUES |
170,174 |
35,743 |
16,915 |
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Sales of goods |
170,174 |
35,734 |
16,915 |
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OPERATING EXPENSES |
165,240 |
27,836 |
15,596 |
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Costs of goods sold |
104,629 |
6,667 |
n/a |
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Raw materials costs |
16,478 |
5,312 |
n/a |
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Salaries, wages and other
personal indemnities |
5,266 |
3,791 |
n/a |
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Deprecation and provision
costs |
0 |
0 |
0 |
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Other operating expenses |
38,867 |
12,067 |
0 |
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FINANCIAL REVENUES |
0 |
0 |
0 |
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FINANCIAL EXPENSES |
157 |
3,527 |
0 |
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Financial P/L |
(157) |
(3,527) |
0 |
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OTHER REVENUES |
0 |
0 |
0 |
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OTHER EXPENSES |
0 |
0 |
0 |
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Other P/L |
0 |
0 |
0 |
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Profit from regular business
operations before tax |
4,778 |
4,380 |
0 |
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Loss from regular business
operations before tax |
0 |
0 |
0 |
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Net profit of businesses to be ceased |
0 |
0 |
0 |
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Net loss of businesses to be ceased |
0 |
0 |
0 |
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Profit before taxation |
4,778 |
4,380 |
1,319 |
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Loss before taxation |
0 |
0 |
0 |
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Taxation on profit |
0 |
0 |
0 |
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Personal indemnities paid to
employer |
0 |
0 |
0 |
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TOTAL REVENUES |
170,174 |
35,743 |
16,915 |
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TOTAL EXPENSES |
165,397 |
31,363 |
15,596 |
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PROFIT OF THE PERIOD |
4,778 |
4,380 |
1,319 |
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LOSS OF THE PERIOD |
0 |
0 |
0 |
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Number of employees |
1 |
1 |
0 |
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Ratios |
EUR |
31.12.2013 |
31.12.2012 |
31.12.2011 |
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Financial stability ratio |
1.60 |
0.00 |
0.00 |
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Equity ratio % |
63.08 |
57.25 |
60.69 |
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Debt to equity (Worth) |
0.59 |
0.75 |
0.65 |
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Liquidity ratio |
1.64 |
2.34 |
2.54 |
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Current ratio |
2.53 |
2.34 |
2.54 |
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Total assets turnover |
13.73 |
6.20 |
10.23 |
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Average collection period in days |
16 |
59 |
36 |
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Profit margin % |
2.81 |
12.25 |
7.80 |
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Return on total assets % |
38.54 |
76.03 |
79.77 |
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Return on equity % |
61.09 |
132.80 |
131.43 |
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Total assets per employee (ths.) |
12,397.56 |
5,760.77 |
0.00 |
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Equity per employee (ths) |
7,820.40 |
3,298.15 |
0.00 |
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Total revenue per employee (ths.) |
170,174.37 |
35,743.18 |
0.00 |
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Profit per employee (ths.) |
4,777.68 |
4,379.95 |
0.00 |
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Loss per employee (ths.) |
0.00 |
0.00 |
0.00 |
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Average net to salaries (ths.) |
438.83 |
315.89 |
0.00 |
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Corporate
structure |
Rep. Offices in Serbia: none Rep. Offices abroad: none
-
BG-COM - removed from register, Beograd
(Zemun), Serbia (NIN:62089679) (100.00% owned by Janez Resek)
Immediate parent company: none
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BG-COM - removed from register, Beograd (Zemun),
Serbia (NIN:62089679), establisher (100.00%) |
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Other info |
Short company name: PROFESSIONAL PACK D.O.O. BEOGRAD (PROFESSIONAL
PACK Ltd. BEOGRAD) |
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Business activity of the company: Subject company PROFESSIONAL PACK D.O.O., Serbia, (NIN: 20657006) is
specialized in wholesale and retail of new and second handed machines /pre owned/in field
of paper converting, flexo printing and other related paper converting
machines. Its main activities are purchasing and selling pre-owned machines,
mediating in the sale of machines, trading in machines, expert examination of
a machine’s condition, dismounting – loading, installation/ assembling of
machines, machine commissioning and instructing operators. |
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Exchange rate |
31.12.2013 31.12.2012 31.12.2011 31.12.2010 |
EUR 1 = RSD 114.70 EUR 1 = RSD 113.70 EUR 1 = RSD 104.64 EUR 1 = RSD 105.98 |
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Inflation |
2012: 2011: 2010: |
12.20% 10.30% 7.90% |
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Bankers |
SBERBANK SRBIJA A.D., Beograd Bulevar Mihajla Pupina 165g 285-2071000000072-79 |
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BANKA POSTANSKA STEDIONICA A.D. Beograd Kraljice Marije 3 200-2456380101873-58 |
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RAIFFEISEN BANKA A.D. Beograd Bulevar Zorana Djindjica 64 a 265-1660310003668-19 |
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No unsettled liability was registered during last 12 months. |
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Debt collection |
Case Registered: |
- |
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Case Status: |
There is no record of any debt collection action. |
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Mode of payment |
As a rule payments
are made on time according to conditions, in some cases there have been
delays |
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Credit opinion |
Business
connections are permissible |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
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.