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Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
A. MONFORTS TEXTILMASCHINEN GMBH
& CO. KG |
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|
|
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Registered Office : |
Blumenberger Str. 143/145 D 41061 Mönchengladbach |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
11.08.1993 |
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Com. Reg. No.: |
HRA 3133 |
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Legal Form : |
Ltd partnership with priv. ltd.
company as general partner |
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Line of Business : |
·
Manufacture of machinery for textile, apparel and
leather production ·
Wholesale of
machinery for the textile industry and of sewing and knitting machines |
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No. of Employees |
127 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
A. MONFORTS TEXTILMASCHINEN GMBH &
CO. KG
Company Status: active
Blumenberger
Str. 143/145
D 41061 Mönchengladbach
Telephone:02161/401-0
Telefax:
02161/401-416
Homepage: www.monforts.de
E-mail:
marketing@monforts.de
VAT no.: DE811506224
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Registered on: 11.08.1993
Register of
companies: Local
court 41061 Mönchengladbach
under: HRA
3133
Total cap. contribution: EUR 5,100,000.00
Limited
partner:
Gensford S.à.r.l.
560A, rue de Neudorf
L 2220 Luxemburg
Legal form: Other legal
form
Share: EUR 5,100,000.00
General
partner:
A. Monforts
Textilmaschinen-Verwaltungs-GmbH
Blumenberger Str. 143/145
D 41061 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered on: 29.07.1993
Reg. data: 41061
Mönchengladbach, HRB 4634
Shareholder:
Gensford S.à.r.l.
560A, rue de Neudorf
L 2220 Luxemburg
Legal form: Other legal
form
Share: EUR 26,000.00
Manager:
Roland Hampel
D 52531 Übach-Palenberg
having sole power of
representation
born: 10.06.1954
Profession: graduate engineer
Manager:
Alexander Wai Yung Wan
RC Kowloon, Hong Kong
having sole power of
representation
born: 12.04.1951
Nationality: Chinese
Manager:
Du Qianyi
RC Hong Kong
authorized to jointly
represent the company
born: 05.11.1965
Nationality: Chinese
Manager:
Ji Xin
RC HongKong
having sole power of
representation
born: 16.12.1969
Nationality: Chinese
Manager:
Tinghong Shi
RC Hongkong (Insel Tsing Yi)
having sole power of
representation
born: 20.09.1962
Nationality: Chinese
Proxy:
Ulrich Geusen
D 41460 Neuss
authorized to jointly
represent the company
born: 19.10.1957
11.08.1993 - 20.04.2005 A. Monforts Textilmaschinen GmbH & Co.
KG
Schwalmstr. 301
D 41238
Mönchengladbach
Ltd partnership with
priv. ltd. company
as general partner
20.04.2005 - 11.11.2011 A. Monforts Textilmaschinen GmbH & Co.
KG
Schwalmstr. 301
D 41238
Mönchengladbach
Ltd partnership with
priv. ltd. company
as general partner
Main industrial sector
28940
Manufacture of machinery for textile, apparel and leather production
46640
Wholesale of machinery for the textile industry and of sewing and
knitting machines
Shareholder:
ABT Vermögensverwaltungs-Gesellschaft
mbH
Blumenberger Str. 143/145
D 41061 Mönchengladbach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 75,000.00
Share: EUR 75,000.00
Reg. data: 06.12.2002
Local court
41061
Mönchengladbach
HRB 7094
Payment experience: cash discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: unknown
Address Blumenberger
Str. 143 /145
D 41061 Mönchengladbach
Land register documents were not available.
COMMERZBANK, 41012 MÖNCHENGLADBACH
Sort. code: 31040015
BIC: COBADEFFXXX
DEUTSCHE BANK, 41061 MÖNCHENGLADBACH
Sort. code: 31070001
BIC: DEUTDEDD310
Turnover: 2012 EUR 46,450,629.00
Profit: 2012 EUR -6,568,797.00
Equipment: EUR 183,154.00
Ac/ts receivable: EUR
5,278,753.00
Liabilities: EUR 46,551,315.00
Employees:
127
- Trainees:
8
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: -9.83
Liquidity ratio: 0.18
Return on total capital [%]: -12.51
Balance sheet grade: 5.0
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 balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 57,662,679.32
Fixed assets
EUR 41,897,315.80
Intangible assets
EUR 58,153.00
Concessions, licences, rights
EUR 58,153.00
Tangible assets
EUR 243,261.00
Plant / machinery
EUR 57,107.00
Other tangible assets / fixtures and
fittings
EUR 186,154.00
Financial assets
EUR 41,595,901.80
Shares in participations /
subsidiaries and the like
EUR 41,595,901.80
Shares in related companies
EUR 41,595,901.80
Current assets
EUR 10,561,879.71
Stocks
EUR 2,054,381.09
Raw materials, consumables and
supplies
EUR 2,514,066.24
Finished goods / work in progress
EUR 336,771.21
Advance payments made
EUR 55,148.00
Minus received advance payments for
orders / installments for stocks
EUR -851,604.36
Accounts receivable
EUR 8,427,646.43
Trade debtors
EUR 4,603,781.77
Amounts due from related companies
EUR 3,180,767.75
Other debtors and assets
EUR 643,096.91
Liquid means
EUR 79,852.19
Remaining other assets
EUR 5,203,483.81
Accruals (assets)
EUR 40,872.43
Deferred taxes (assets) EUR 63,066.60
Deficit not covered by shareholders'
equity
EUR 5,099,544.78
LIABILITIES EUR 57,662,679.32
Shareholders' equity
EUR 0.00
Capital
EUR 2,100,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 2,100,000.00
Reserves
EUR 2,052,588.00
Balance sheet profit/loss (+/-)
EUR -9,252,132.78
Balance sheet profit / loss
EUR -9,252,132.78
Other shareholders' equity (+/-)
EUR 5,099,544.78
Deficit not covered by shareholders'
equity
EUR 5,099,544.78
Provisions
EUR 11,111,363.54
Pension provisions and comparable
provisions
EUR 1,246,918.83
Other / unspecified provisions
EUR 9,864,444.71
Liabilities
EUR 46,551,315.78
Financial debts
EUR 956,692.26
Liabilities due to banks
EUR 956,692.26
Other
liabilities EUR 45,594,623.52
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,392,815.53
Liabililties due to related companiesEUR 43,269,646.83
Unspecified other liabilities
EUR 932,161.16
thereof liabilities from tax /
financial authorities
EUR 252,015.15
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm.
Code (HGB)
Sales EUR 46,450,629.56
Inventory change + own costs (+/-)
EUR -85,092.00
Inventory change (+/-)
EUR -85,092.00
Other operating income
EUR 674,538.33
Cost of materials
EUR 33,729,915.38
Raw materials and supplies, purchased
goods
EUR 31,887,170.02
Purchased services
EUR 1,842,745.36
Gross result (+/-) EUR 13,310,160.51
Staff expenses
EUR 11,535,790.99
Wages and salaries
EUR 10,203,786.20
Social security contributions and
expenses for pension plans and
benefits
EUR 1,332,004.79
Total depreciation
EUR 109,600.51
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 109,600.51
Other operating expenses
EUR 8,259,458.88
Operating result from continuing
operations
EUR -6,594,689.87
Interest result (+/-)
EUR 42,458.87
Interest and similar income
EUR 169,338.49
thereof from related companies
EUR 75,444.55
Interest and similar expenses
EUR 126,879.62
Financial result (+/-)
EUR 42,458.87
Result from ordinary operations (+/-)
EUR -6,552,231.00
Income tax / refund of income tax (+/-)EUR -16,298.44
Other taxes / refund of taxes
EUR -268.00
Tax (+/-)
EUR -16,566.44
Annual surplus / annual deficit
EUR -6,568,797.44
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.79.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
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 |
-- |
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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.