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Report No. : |
314857 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VOX CARRIER SRL |
|
|
|
|
Formerly Known As : |
INTERPOINT COMMUNICATIONS SRL |
|
|
|
|
Registered Office : |
Bucharest, 42 Navodari Street, 1st Floor, Sector 1 |
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|
|
|
Country : |
Romanian |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
July 2004 |
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|
|
|
Com. Reg. No.: |
J40/11029/2004 |
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|
|
|
Legal Form : |
Limited liability company, joint venture of Romanian and Iranian capital |
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|
|
|
Line of Business : |
Other Telecommunication Activities |
|
|
|
|
No of Employees : |
29 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Romania |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
ROMANIA ECONOMIC OVERVIEW
Romania, which joined the EU on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession due to strong demand in EU export markets. Domestic consumption and investment fueled strong GDP growth, but led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate the business environment. As a result of the global financial crisis, Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. GDP contracted from 2009 to 2011. In March 2011, Romania and the IMF/EU/World Bank signed a 24-month precautionary stand-by agreement, worth $6.6 billion, to promote fiscal discipline, encourage progress on structural reforms, and strengthen financial sector stability. In September 2013, the Romanian authorities and the IMF/EU agreed to a follow-on stand-by agreement, worth $5.4 billion, to continue with reforms, although Bucharest announced that it does not intend to draw funds under the agreement. Economic growth accelerated in 2013, driven by strong industrial exports and an excellent agricultural harvest; in December 2013 inflation dropped to a historical low annual rate of 1.6%; and the current account deficit was reduced substantially. Yet, progress on structural reforms is uneven and the economy still is vulnerable to shocks.
|
Source
: CIA |
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NAME OF THE
COMPANY |
VOX CARRIER SRL
(former name: INTERPOINT COMMUNICATIONS SRL) |
||
|
Address |
Bucharest, 42
Navodari Street, 1st Floor, Sector 1 |
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|
Phone no. Cell phone no. |
0040-31-7199039 0040-721-080706 0040-741-233233 |
Fax no. |
0040-21-4043680 |
|
Web-site |
E-mail address |
- |
|
|
Date of
foundation |
July 2004 |
||||||
|
Present legal
form |
Limited liability company, joint venture of Romanian and Iranian
capital |
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|
Registered with
the Trade Registry |
J40/11029/2004 |
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|
VAT no. |
16582118 |
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Registered
capital |
50,200 |
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|
Shareholders |
Individuals |
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1.Ahmadi Ehsan – Iranian citizen, born on 9.07.1983 |
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Participation |
83.67% |
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|
Legal person |
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2. VOX CAPITAL SRL – Romanian legal person |
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Reg. no.: J40/9909/2010
VAT no.: 27537511 |
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Address: Bucharest, 6 Prevederii Street, Bl. D2, Sc. 1, Et. 4, Ap. 24,
Sector 3 |
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Participation |
16.33% |
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|
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Obligation to
publish |
According to the Romanian Financial Legislation,
subject company is obliged to lodge with the Ministry of Public Finance its half-yearly accounts |
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|
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EMPLOYEES |
2009 |
2010 |
2011 |
2012 |
2013 |
30.06.2014 |
|
|
total |
0 |
8 |
10 |
16 |
22 |
29 |
|
|
BUSINESS
ACTIVITY
According to the
national Trade Registry updated files - other
telecommunication activities (NACE: 6190) As declared by the subject on its web
site: - wholesale & corporate telecommunication services |
|||||||
|
1. Company’s
participation |
not applicable |
|
|
2. Shareholders
other participation |
Ahmadi Ehsan |
TENDO
SRL Reg. no.: J40/8193/2013, VAT 22197451 VOX
CAPITAL SRL Reg. no.: J40/9909/2010, VAT 27537511 |
|
VOX CAPITAL SRL |
not applicable |
|
|
TANGIBLES* |
184,976 RON, at 30.06.2014 *According to the accounting standards, for the middle of the year the
company is not obliged to detail its tangible assets. Therefore, the real estates
are included in “Tangibles” position among the other assets |
|
|
BANKS |
ING BANK |
|
|
MANAGEMENT ·
as officially registered with the National Trade
Registry |
ADMINISTRATOR Botirlaianu Gelu-Iulian – Romanian citizen,
born on 26.09.1979 Appointed on 9.09.2013 for unlimited period |
|
|
CURRENCY
Exchange rate of EURO |
1 EURO = 4.2282 RON on 31.12.2009 1 EURO = 4.2848 RON on 31.12.2010 1 EURO = 4.3197 RON on 31.12.2011 1 EURO = 4.4287 RON on 31.12.2012 1 EURO = 4.4847 RON on 31.12.2013 1 EURO = 4.3888 RON on 30.06.2014 |
|
|
BALANCE SHEET |
31.12.2013 |
30.06.2014 |
|
|
|
|
|
INTANGIBLES -
TOTAL |
27,846 |
20,046 |
|
TANGIBLES - TOTAL |
215,391 |
184,976 |
|
FINANCIALS - TOTAL |
152,705 |
150,452 |
|
FIXED ASSETS -
TOTAL |
395,942 |
355,474 |
|
STOCKS - TOTAL |
0 |
0 |
|
CLAIMS - TOTAL |
4,745,105 |
5,314,400 |
|
CURRENT ASSETS |
5,561,045 |
6,337,767 |
|
PREPAID EXPENSES |
22,958 |
266,987 |
|
DEBTS WITHIN 1
YEAR |
4,178,308 |
4,771,758 |
|
DEBTS OVER 1 YEAR |
108,558 |
74,364 |
|
PROVISIONS |
0 |
0 |
|
ADVANCED INCOMES |
0 |
0 |
|
REGISTERED
CAPITAL |
50,200 |
50,200 |
|
RESERVES |
40 |
40 |
|
NET RESULT -
PROFIT |
721,574 |
437,477 |
|
NET RESULT - LOSS |
0 |
0 |
|
NET WORTH |
1,693,079 |
2,114,106 |
|
PROFIT & LOSS ACCOUNT |
31.12.2013 |
30.06.2014 |
|
|
|
|
|
Turnover |
48,838,141 |
25,579,152 |
|
Own production
& services |
N/A |
N/A |
|
Sales |
N/A |
N/A |
|
INCOMES FROM
ORDINARY OPERATING ACTIVITY |
48,866,715 |
25,583,663 |
|
Raw materials |
N/A |
N/A |
|
Costs of goods
sold |
N/A |
N/A |
|
Wages |
N/A |
N/A |
|
Depreciations
& provisions |
N/A |
N/A |
|
Other operating
costs |
N/A |
N/A |
|
COSTS OF ORDINARY
OPERATING ACTIVITY |
47,918,574 |
25,054,422 |
|
ORDINARY OPERATING
RESULT - PROFIT |
948,141 |
529,241 |
|
ORDINARY
OPERATING RESULT - LOSS |
0 |
0 |
|
FINANCIAL INCOMES |
862,358 |
279,595 |
|
FINANCIAL COSTS |
929,581 |
281,295 |
|
FINANCIAL RESULT
- PROFIT |
0 |
0 |
|
FINANCIAL RESULT
- LOSS |
67,223 |
1,700 |
|
CURRENT RESULT -
PROFIT |
880,918 |
527,541 |
|
CURRENT RESULT -
LOSS |
0 |
0 |
|
Extraordinary
incomes |
0 |
0 |
|
Extraordinary
costs |
0 |
0 |
|
EXTRAORDINARY
RESULT - PROFIT |
0 |
0 |
|
EXTRAORDINARY
RESULT - LOSS |
0 |
0 |
|
TOTAL INCOMES |
49,729,073 |
25,863,258 |
|
TOTAL COSTS |
48,848,155 |
25,335,717 |
|
PRETAX RESULT -
PROFIT |
880,918 |
527,541 |
|
PRETAX RESULT -
LOSS |
0 |
0 |
|
TAX ON PROFIT |
159,344 |
90,064 |
|
NET RESULT -
PROFIT |
721,574 |
437,477 |
|
NET RESULT - LOSS |
0 |
0 |
|
OUR OPINION |
based upon
financial figures reported in the latest balance-sheet – 30.06.2014 - all figures
are reported in RON if otherwise not specified. |
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|
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|
Size |
small, considering the total no. of
employees. |
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Position &
trend |
Continuously increasing volume of activity
up to a large level of turnover starting with 2013 and with positive but
modest economic results. Liquidity is good and in terms of
solvability, indebtedness rate is acceptable at June 2014. Payments behavior looks correct, no delays
being reported. Financial standing is satisfactory. Business trend: ascending. |
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|
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|
|
31.12.2009 |
31.12.2010 |
31.12.2011 |
31.12.2012 |
31.12.2013 |
30.06.2014 |
|
|
Turnover |
|
|
|
|
|
|
|
|
RON |
74,705 |
2,266,167 |
8,697,990 |
25,539,421 |
48,838,141 |
25,579,152 |
|
|
EURO |
17,668 |
528,885 |
2,013,563 |
5,766,799 |
10,889,946 |
5,828,279 |
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
|
|
|
|
|
|
RON |
19,342 |
114,212 |
441,194 |
576,550 |
880,918 |
527,541 |
|
|
EURO |
4,575 |
26,655 |
102,135 |
130,185 |
196,427 |
120,202 |
|
|
|
|
|
|
|
|
|
|
|
Net profit |
|
|
|
|
|
|
|
|
RON |
16,206 |
94,004 |
368,695 |
471,451 |
721,574 |
437,477 |
|
|
EURO |
3,833 |
21,939 |
85,352 |
106,454 |
160,897 |
99,680 |
|
|
|
|
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|
BALANCE
CLAIMS-DEBTS |
Positive |
||
|
Total claims, no further
details available |
5,314,400 |
||
|
Total debts |
4,846,122 |
||
|
- Short term, no further
details available |
4,771,758 |
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- Medium term, no further
details available |
74,364 |
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|
|
|||
|
PAYMENTS
BEHAVIOR |
Correct, no delays reported |
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|
|
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PAYMENTS
INCIDENTS, as officially recorded with the Payment Incident Bureau |
No incidents recorded during 30.03.2014 – 30.03.2015 |
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|
|
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BLACKLISTING
(international sanctions) |
Not applicable |
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|
|
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FINANCIAL
STRENGTH |
840,000 EURO |
||
|
RISK CATEGORY |
Above normal |
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|
BUSINESS
RELATIONS |
Permissible |
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|
|
2009 |
2010 |
2011 |
2012 |
2013 |
30.06.2014 |
|
|
Good |
|||||
|
Liquidity
analysis |
||||||
|
- current ratio |
1.19 |
1.03 |
1.23 |
1.47 |
1.17 |
1.33 |
|
- quick ratio |
0.85 |
0.90 |
1.18 |
1.47 |
1.17 |
1.33 |
|
|
|
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|
Solvability
analysis |
Acceptable at
June 2014 |
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|
- the borrowing ratio (total debts/net worth) |
5.35 |
4.22 |
2.62 |
4.65 |
2.86 |
2.29 |
|
|
|
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|
Profitability
analysis (%) |
Fluctuant;
generally modest |
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|
- return on capital |
69.23 |
92.88 |
78.46 |
51.16 |
42.62 |
20.69 |
|
- return on assets |
10.90 |
17.79 |
21.56 |
7.06 |
12.07 |
6.29 |
|
- gross profit margin |
25.89 |
5.04 |
5.07 |
2.26 |
1.80 |
2.06 |
|
|
|
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|
Activity analysis |
Generally
debtors days within normal limits |
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|
- debtor’s days |
285 |
27 |
12 |
79 |
35 |
76 |
|
- creditor’s days |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
|
Stocks turnover, times/period |
2 |
54 |
206 |
- |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.59 |
|
|
1 |
Rs. 92.45 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.