|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HEINRICH MUMMENHOFF
ABWICKLUNGSGESELLSCHAFT MBH |
|
|
|
|
Registered Office : |
Leimholer Mühle 1-5, D 42477
Radevormwald |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1967 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture
of Tools ·
Wholesale
of Tools and Hardware |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Insolvent |
|
Payment Behaviour : |
Default |
|
Litigation : |
-- |
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) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
HEINRICH MUMMENHOFF
ABWICKLUNGSGESELLSCHAFT MBH
Company Status: insolvent
since: 14.05.2013
Leimholer Mühle
1-5
D 42477
Radevormwald
Telephone:02195/685-0
VAT
no.: DE813906715
Tax
ID number: 221/5745/1214
Business relations on credit basis are not
permissible.
LEGAL
FORM Private limited company
Date of foundation: 1967
Shareholders'
agreement: 16.05.1991
Registered on: 12.08.1996
Commercial Register: Local court 50939 Köln
under: HRB 37946
Share capital: EUR 255,645.94
Shareholder:
FLT Technologie
Verwaltungs GmbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Legal form: Private
limited company
insolvent
Share capital: EUR 25,000.00
Share: EUR 255,645.94
Registered on: 12.12.2003
Reg. data: 50939 Köln,
HRB 51979
Manager:
Dirk von der Ley
D 58256 Ennepetal
having sole power of
representation
born: 21.04.1965
Profession: Businessman
Further
functions/participations of Dirk von der Ley (Manager)
Shareholder:
FLT Technologie
Verwaltungs GmbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Legal form: Private
limited company
insolvent
Share capital: EUR 25,000.00
Share: EUR 8,733.00
Registered
on: 12.12.2003
Reg. data: 50939 Köln, HRB 51979
Manager:
FLT Technologie
Verwaltungs GmbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Legal form: Private
limited company
insolvent
Share capital: EUR 25,000.00
Registered
on: 12.12.2003
Reg. data: 50939 Köln, HRB 51979
Manager:
Mummenhoff International
Verwaltungsgesellschaft
mbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Legal form: Private limited
company
Share capital: EUR 25,000.00
Registered
on: 16.01.2014
Reg. data: 50939 Köln, HRB 80449
02.04.1984 - 07.07.1994 LACURA LASER CUT Wolfgang Schoenenborn
GmbH
Leimholer Mühle 1 - 5
D 42477 Radevormwald
Private limited
company
07.07.1994 - 19.09.1995 HM Laser Technology GmbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Private limited
company
19.09.1995 - 12.08.1996 Jago Vermögensverwaltung GmbH
Brüderstr. 62
D 42853 Remscheid
Private limited
company
12.08.1996 - 25.03.2004 Jago Vermögensverwaltung GmbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Private limited company
25.03.2004 - 14.02.2014 Heinrich Mummenhoff GmbH
Leimholer Mühle 1-5
D 42477 Radevormwald
Private limited
company
Main
industrial sector
2573
Manufacture of tools
Average risk of default: 3.6 %
46741
Wholesale of tools and hardware
Average risk of default: 4.0 %
Payment experience: negative information
Negative information:Negative information is
known to us.
Insolvency Proceedings
Local court : 50939 Köln
Insolvency administrator : Dr.
Peter Neu
Elberfelder Str. 39
D 42853 Remscheid
Preliminary insolvency
adminstrator : No
File No : 73 IN 178/13
Application of : 14.05.2013
Restraint on alienation
-
passed on : 14.05.2013
Order of institution of : 01.08.2013
Claims to be filed by :
20.09.2013
Creditors' meeting
-
Date for pres. of
report on : 09.10.2013
-
Date of hearing on : 09.10.2013
Type of ownership: Tenant
Address Leimholer Mühle 1-5
D 42477 Radevormwald
Land register documents were not available.
A
bank connection is unknown.
Ac/ts receivable: EUR 1,197,626.00
Liabilities:
EUR
1,692,878.00
No
full-time employees are employed.
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 46.29
Liquidity ratio: 0.71
Return
on total capital [%]: -22.48
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 62.50
Liquidity ratio: 1.13
Return on total capital [%]: -8.24
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 63.29
Liquidity ratio: 1.04
Return on total capital [%]: -22.76
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 78.35
Liquidity ratio: 3.67
Return
on total capital [%]: -4.97
EQUITY RATIO
The
equity ratio indicates the portion of the equity as compared
to
the total capital. The higher the equity ratio, the better the
economic stability (solvency) and thus the
financial autonomy of
a company.
LIQUIDITY RATIO
The
liquidity ratio shows the proportion between adjusted
receivables and net liabilities. The higher
the ratio, the lower
the
company's financial dependancy from external creditors.
RETURN ON TOTAL CAPITAL
The
return on total capital shows the efficiency and return on
the
total capital employed in the company. The higher the return
on
total capital, the more economically does the company work
with the invested capital.
TYPE OF BALANCESHEET: COMPANY BALANCE SHEET
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 3,495,601.08
Fixed assets
EUR 1,032,168.47
Intangible assets
EUR 13.26
Other / unspecified intangible assetsEUR 13.26
Tangible assets
EUR 1,032,155.21
Other / unspecified tangible assets
EUR 1,032,155.21
Current assets
EUR 2,452,496.63
Stocks
EUR 1,250,081.78
Accounts receivable
EUR 1,197,625.99
Other debtors and assets
EUR 1,197,625.99
Liquid means
EUR 4,788.86
Remaining other assets
EUR 10,935.98
Accruals (assets)
EUR 10,935.98
LIABILITIES EUR 3,495,601.08
Shareholders' equity EUR 1,618,048.96
Capital
EUR 255,645.94
Subscribed capital (share capital)
EUR 255,645.94
Reserves
EUR 3,151,130.22
Capital reserves
EUR 3,151,130.22
Balance sheet profit/loss (+/-)
EUR -1,788,727.20
Profit / loss brought forward
EUR -1,788,727.20
Provisions
EUR 184,674.62
Liabilities EUR 1,692,877.50
Other liabilities
EUR 1,692,877.50
Unspecified other liabilities
EUR 1,692,877.50
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 3,846,071.93
Fixed assets
EUR 1,163,828.59
Intangible assets
EUR 13.26
Other
/ unspecified intangible assetsEUR 13.26
Tangible assets
EUR 1,163,815.33
Other / unspecified tangible assets
EUR 1,163,815.33
Current assets
EUR 2,658,365.89
Stocks
EUR 1,235,272.60
Accounts receivable
EUR 1,270,084.63
Other debtors and assets
EUR 1,270,084.63
Investments in current assets
EUR 51,738.35
Liquid means
EUR 101,270.31
Remaining other assets
EUR 23,877.45
Accruals (assets)
EUR 23,877.45
LIABILITIES EUR 3,846,071.93
Shareholders' equity
EUR 2,403,868.23
Capital
EUR 255,645.94
Subscribed capital (share capital)
EUR 255,645.94
Reserves EUR 3,431,130.22
Capital reserves
EUR 3,431,130.22
Balance sheet profit/loss (+/-)
EUR -1,282,907.93
Balance sheet profit / loss
EUR -1,282,907.93
Provisions
EUR 217,341.30
Liabilities
EUR 1,224,862.40
Other liabilities
EUR 1,224,862.40
Unspecified other liabilities
EUR 1,224,862.40
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.