MIRA INFORM REPORT

 

 

Report Date :

05.09.2014

 

IDENTIFICATION DETAILS

 

Name :

ALAM B.V.

 

 

Registered Office :

Standaardruiter 40 3905PZ Veenendaal

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

10.05.1989

 

 

Com. Reg. No.:

30089588

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of clothing textiles and haberdashery (46411)

 

 

No. of Employees

3

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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)

Netherland

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLAND ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

Source : CIA

 

 

 

Summary

 

Company name                       ALAM B.V.

Operative address                   Standaardruiter 40

3905PZ Veenendaal

Netherlands

 

Legal form                               Private Company

Registration number                30089588

VAT-number                            007943866

 

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

798.855

-0,95

806.526

-4,38

843.456

Total receivables

180.099

-90,08

1.815.919

625,32

250.360

Total equity

-316.961

-25,68

-252.201

-94,41

-129.727

Short term liabilities

606.378

-31,13

880.524

4,44

843.085

Working capital

806.192

-13,81

935.395

2,13

915.880

Quick ratio

0,30

-85,44

2,06

586,67

0,30

 

 

 

 

Contact information

 

Company name                       Alam B.V.

Trade names                           Alam B.V.

Chenab                                    Europe

Nishat                                      Europe

 

Operative address                   Standaardruiter 40

3905PZ Veenendaal

Netherlands

 

Correspondence address         Standaardruiter 40

3905PZ Veenendaal

Netherlands

Telephone number                  0318552901

Website                                   www.dekbedovertrek.com

 

 

Registration

 

Registration number                            30089588

Branch number                                    000002296268

VAT-number                                        007943866

Status                                                  Active

First registration company register      1989-06-23

Memorandum                                      1989-06-16

Establishment date                              1989-05-10

Legal form                                           Private Company

Last proposed admendment                1992-03-31

 

 

Activities

 

SBI                                                       Wholesale of clothing textiles and haberdashery (46411)

Exporter                                               No

Importer                                               No

Goal                                                     Textiel groothandel

 

 

Relations

 

Companies on same address               Nastex B.V.

Registration number:                           598317150000

 

 

Management

 

Active management    A. Alam (Azeem)

Netherlands

Competence:               Fully authorized

Function:                     Manager

 

Starting date:               1989-06-16

Date of birth:                1950-06-13, Naseera Gujrat, PK

A. Alam (Amir)

Netherlands

Competence:               Fully authorized

Function:                     Manager

Starting date:               2004-01-01

Date of birth:                1973-11-06, Bahawalpur, PK

A.N. Alam - Khan (Azra Nahid)

Netherlands

Competence:               Fully authorized

Function:                     Manager

Starting date:               1989-06-16

Date of birth:                1952-03-15, Bahawalpur, PK

 

Employees

Total                according to the Chamber of Commerce 3

Year                 2014     2012     2011    2010     2009

Total                3          3          3          3          3

 

 

 

Payments

 

Score Description

6,85

The payments are regular

 

 

 

 

 

 

Key Figures

 

Year

2012

2011

2010

2009

2008

Quick ratio

0,30

2,06

0,30

0,10

0,26

Current ratio

2,33

2,06

2,09

2,20

2,33

 

Working capital/ balance total

0,36

0,36

0,35

0,36

0,38

Equity / balance total

-0,14

-0,10

-0,05

-0,10

-0,09

Equity / Fixed assets

-0,40

-0,31

-0,15

-0,29

-0,28

Equity / liabilities

-0,13

-0,09

-0,05

-0,09

-0,08

Balance total / liabilities

0,87

0,91

0,95

0,91

0,92

 

Year

2012

2011

2010

2009

2008

Working capital

806.192

935.395

915.880

894.265

1.027.897

Equity

-316.961

-252.201

-129.727

-257.851

-246.641

Mutation equity

-25,68

-94,41

49,69

-4,55

17,42

Mutation short term liabilities

-31,13

4,44

12,82

-3,23

-22,63

 

Summary                     The 2012 financial result structure is a postive working captial of 806.192 euro, which is in agreement with 36 % of the total assets of the company.

The working capital has diminished with -13.81 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.

The deterioration between 2011 and 2012 has mainly been caused by a reduction of the current assets.

The current ratio of the company in 2012 was 2.33. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2012 of the company was 0.3. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2011 financial result structure is a postive working captial of 935.395 euro, which is in agreement with 36 % of the total assets of the company.

The working capital has increased with 2.13 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

The improvement between 2010 and 2011 has mainly been caused by a current liabilities reduction.

The current ratio of the company in 2011 was 2.06. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2011 of the company was 2.06. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

 

Financial statement

 

Remark annual account          The company is obliged to file its financial statements.

Type of annual account           Corporate

Annual account                       Alam B.V.

Standaardruiter 40

3905PZ Veenendaal

Netherlands

Registration number:               300895880000

 

 

 

Balance

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Tangible fixed assets

798.855

 

843.456

876.270

888.998

Financial fixed assets

 

806.526

 

Fixed assets

798.855

806.526

843.456

876.270

888.998

Total stock

1.232.429

 

1.503.428

1.564.274

1.601.751

Total receivables

180.099

1.815.919

250.360

77.232

198.346

Liquid funds

42

 

5.177

28

28

Current assets

1.412.570

1.815.919

1.758.965

1.641.534

1.800.125

Total assets

2.211.425

2.622.445

2.602.421

2.517.804

2.689.123

 

Issued capital

18.151

18.151

18.151

18.151

18.151

Other reserves

-335.111

-270.351

-147.878

-276.002

-264.791

Total reserves

-335.111

-270.351

-147.878

-276.002

-264.791

Total equity

-316.961

-252.201

-129.727

-257.851

-246.641

 

Provisions

79.858

79.858

79.858

79.858

79.858

Long term interest yielding debt

1.842.149

1.914.263

1.809.205

1.948.528

2.083.677

Long term liabilities

1.842.149

1.914.263

1.809.205

1.948.528

2.083.677

Short term liabilities

606.378

880.524

843.085

747.269

772.228

Total short and long term liabilities

2.528.385

2.874.645

2.732.148

2.775.655

2.935.763

Total liabilities

2.211.425

2.622.445

2.602.421

2.517.804

2.689.123

 

Summary                                 The total assets of the company decreased with -15.67 % between 2011 and 2012.

The total assets are entirely composed of current assets.

Assets reduction is explained by a Net Worth decrease of -25.68 %, and an indebtedness reduction of -12.05 %.

In 2012 the assets of the company were 36.12 % composed of fixed assets and 63.88 % by current assets. The assets are being financed by an equity of -14.33 %, and total debt of 114.33 %.

The total assets remained the same between 2010 and 2011.

Despite the fact that the total assets remained the same, the fixed assets decreased with -4.38 %.

Despite the unchanged assets the net worth declined with -94.41 %, which has resulted in the fact that the company's indebtedness increased with 5.22 %.

In 2011 the assets of the company were 30.75 % composed of fixed assets and 69.25 % by current assets. The assets are being financed by an equity of -9.62 %, and total debt of 109.62 %.

 

 

 

Analysis

 

Branch                         (SBI) Wholesale trade (no motor vehicles and motorcycles) (46)

Region                         Oostelijk Utrecht

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Oostelijk Utrecht 4173 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Oostelijk Utrecht 61 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 Oostelijk Utrecht is normal

 

 

Publications

 

Filings                          13-08-2013: De jaarrekening over 2012 is gepubliceerd.

06-05-2013: De jaarrekening over 2011 is gepubliceerd.

08-07-2011: De jaarrekening over 2010 is gepubliceerd.

23-08-2010: De jaarrekening over 2009 is gepubliceerd.

Functions                     07-03-2013: Per 04-02-2013 is bestuurder Muhammed Naeem uit functie getreden.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.45

UK Pound

1

Rs.99.46

Euro

1

Rs.79.46

                

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.