MIRA INFORM REPORT

 

 

Report Date :

25.11.2014

 

IDENTIFICATION DETAILS

 

Name :

TORRE 90 SAS DI SORRENTINO VIRGINIA E C.

 

 

Registered Office :

Via Del Monte, 11

80059   - Torre del Greco (NA)

 

 

Country :

Italy

 

 

Date of Incorporation :

19.05.1998

 

 

Legal Form :

Limited partnership

 

 

LINE OF BUSINESS :

SHAPING OF PRECIOUS AND SEMI-PRECIOUS STONES FOR JEWELLERY AND FOR INDUSTRIAL USE

 

 

No. of Employees :

fom 6 to 10

 

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 :

Unknown

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)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ITALY - ECONOMIC OVERVIEW

 

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is higher. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.

 

Source : CIA

 

 

Company name and address

 

TORRE 90 SAS DI SORRENTINO VIRGINIA E C.

 

Via Del Monte, 11

80059 - Torre del Greco (NA)  -IT-

 

 

Summary

 

Fiscal Code

:

05825220634

Legal Form

:

Limited partnership

start of Activities

:

19/05/1998

Turnover Range

:

750.000/1.000.000

Number of Employees

:

fom 6 to 10

 

 

 

n.b.: The Creditworthness Rate shows, in percentage, the ratio between the suggested credit opinion and the credit amount that the firm could get if the financial situation would be completely positive.

 

 

Activity

 

Shaping of precious and semi-precious stones for jewellery and for industrial use

 

 

Legal Data

 

Legal Form : Limited partnership

Fiscal Code : 05825220634

 

Municipal Licence : 81 of since 19/05/1998

 

Chamber of Commerce no. : 458816 of Napoli since 10/04/1989

 

V.A.T. Code : 01464351210

 

Establishment date

: 30/03/1989

Start of Activities

: 19/05/1998

Legal duration

: 31/12/2100

Nominal Capital

: 30.987

 

Subscribed Capital

: 30.987

 

Paid up Capital

: 30.987

 

 

 

Members

 

Sorrentino

Michele

 

 

Born in Torre del Greco

(NA)

on 30/07/1950

- Fiscal Code : SRRMHL50L30L259K

 

 

Residence:

 

Del Monte

, 11

- 80059

Torre del Greco

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Limited Partner

01/10/1997

2.582 -

8,33

 

No Prejudicial events are reported

 

No Protests registered

 

Sorrentino

Giovanni

 

 

Born in Torre del Greco

(NA)

on 02/01/1961

- Fiscal Code : SRRGNN61A02L259K

 

 

Residence:

 

Del Monte

, 11

- 80059

Torre del Greco

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Limited Partner

17/05/1993

7.746 -

25,00

 

No Prejudicial events are reported

 

No Protests registered

 

Sorrentino

Paolo

 

 

Born in Torre del Greco

(NA)

on 17/02/1953

- Fiscal Code : SRRPLA53B17L259C

 

 

Residence:

 

Del Monte

, 11

- 80059

Torre del Greco

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Limited Partner

17/05/1993

7.746 -

25,00

 

No Prejudicial events are reported

 

No Protests registered

 

Sorrentino

Giuseppe

 

 

Born in Torre del Greco

(NA)

on 04/05/1955

- Fiscal Code : SRRGPP55E04L259J

 

 

Residence:

 

Del Monte

, 11

- 80059

Torre del Greco

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Limited Partner

17/05/1993

7.746 -

25,00

 

No Prejudicial events are reported

 

No Protests registered

 

Sorrentino

Virginia

 

 

Born in Torre del Greco

(NA)

on 03/08/1978

- Fiscal Code : SRRVGN78M43L259A

 

 

Residence:

 

Del Monte

, 19

- 80059

Torre del Greco

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

General Partner

01/10/1997

2.582 -

8,33

 

No Prejudicial events are reported

 

No Protests registered

 

Sorrentino

Francesco

 

 

Born in Torre del Greco

(NA)

on 13/04/1977

- Fiscal Code : SRRFNC77D13L259P

 

 

Residence:

 

Del Monte

, 11

- 80059

Torre del Greco

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Limited Partner

01/10/1997

2.582 -

8,33

 

No Prejudicial events are reported

 

No Protests registered

 

 

Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

Sorrentino

Michele

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Edre S.r.l.

Torre del Greco (NA) - IT -

05540490637

Sole Director

Active

Registered

Belsito S.r.l.

Napoli (NA) - IT -

06104850638

Liquidator

Withdrawn

Registered

 

Sorrentino

Giovanni

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Sogar S.r.l.

Torre del Greco (NA) - IT -

05984681212

Sole Director

Withdrawn

Registered

 

Sorrentino

Virginia

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Consorzio Oggetti D'autore

Napoli (NA) - IT -

95024710634

Baord of Directors' member

Active

Registered

 

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.



Direct Participations

 

The Company under review has no participations in other Companies.



Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

 

 

 

 

 

 

Del Monte

, 11

- 80059

- Torre del Greco

(NA)

- IT -

 

 

 

 

PHONE

: 0818472753

 

 

 

 

FAX

: 0818472753

 

 

 

 

Employees

: 9

 

 

 

Protests

 

Protests checking on the subject firm has given the following results:

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA eamp; C. (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/08/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA eamp; C. (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/03/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

02/07/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

05/05/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

02/04/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/02/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA E C. (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

03/09/2014

15.000

29.044.050

 

 

 

 

TORRE 90 SAS DI SORRENTINO VIRGINIA E C. (05825220634)

VIA DEL MONTE 11

- TORRE DEL GRECO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

05/06/2014

15.000

29.044.050

 

 

 

Data Base Prejudicial Events Search

Search performed on a National Scale

 

 

Prejudicial Events Search Result:

 

Legal Mortgage on 31/07/2007. for an amount of 29.586 Euro.

  EQUITALIA POLIS S. P. A.


Search performed on a specialized data base.

 

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.



Financial and Economical Analysis

 

Long-established enterprise, which is operating on local market

and in the specific field for many years.

The subject shows an evident lack of liquid assets.

Payments are settled irregularly.

Indebtedness rate are somewhat marked.

Protests are registered in the name of the subject.

Commercial relations show irregularities.

 

 

Financial Data

 

Estimated Financial Data

 

Item Type

Value

Sales

900.000



Remarks

 

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

 

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

 

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

 

 

SOURCES

 

Our Company collects data from public registers, lists, archives or contained in Acts and/or documents (held by the National Chamber of Commerce or Immovables Territorial Agency), users, reporters or however generally accessible (for example, from categorical lists, statistical institutes, press reports and from public inspection internet sites).

 

 

Market / Territory Data

 

Population living in the province

:

3.092.859

Population living in the region

:

5.788.986

Number of families in the region

:

1.966.064

 

Monthly family expences average in the region (in Eur..) :

 

- per food products

:

475

- per non food products

:

1.304

- per energy consume

:

79

 

 

Sector Data

 

The values are calculated on a base of 591 significant companies.

 

The companies cash their credits on an average of 100 dd.

The average duration of suppliers debts is about 105 dd.

The sector's profitability is on an average of 2,17%.

The labour cost affects the turnover in the measure of 13,32%.

Goods are held in stock in a range of 87 dd.

The difference between the sales volume and the resources used to realize it is about 1,10.

The employees costs represent the 13,08% of the production costs.

 

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered remarkably risky.

In the region 80.616 protested subjects are found; in the province they count to 41.815.

The insolvency index for the region is 1,40, , while for the province it is 1,36.

Total Bankrupt companies in the province : 18.217.

Total Bankrupt companies in the region : 28.514.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.96.78

Euro

1

Rs.76.59

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SDA

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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