|
Report No. : |
352885 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DUALPLAST S.R.L. |
|
|
|
|
Registered Office : |
Via Friuli, 57, 31020 - San Vendemiano (TV) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.03.2002 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
From 16 to 25 |
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 : |
Slow but correct |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Italy |
A1 |
A1 |
|
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 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 132% of GDP in 2014, 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 tax evasion. In 2014 economic growth and labor market conditions continued to deteriorate, with overall unemployment rising to 12.2% and youth unemployment around 40%. Italy's GDP is now nearly 10% below its 2007 pre-crisis level.
|
Source
: CIA |
DUALPLAST S.R.L.
Via Friuli, 57,
31020 - San
Vendemiano (TV) -IT-
|
Fiscal Code |
: |
03710860267 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
30/04/2002 |
|
Equity |
: |
1.000.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Manufacture of textile ribbons, labels and braidings
Manufacture of other plastic products n.e.c.
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 03710860267 |
|
Foreign Trade Reg. no. : TV052225 since 02/01/2006 |
|
Chamber of Commerce no. : 292186 of Treviso since 09/04/2002 |
|
V.A.T. Code : 03710860267 |
|
Establishment date |
: 20/03/2002 |
|
|
Start of Activities |
: 30/04/2002 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Legal mail : |
DUALPLAST@LEGALMAIL.IT |
|
Ho |
King Wah |
|
Born in Hong-kong |
( ) |
on 26/03/1959 |
- Fiscal Code : HOXKGW59C26Z210X |
|
Residence: |
Fu Cheung Centre |
, 5-7 |
Hong-kong |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
||
|
Board Chairman |
30/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Cassin |
Fabio |
|
Born in San Vito Al Tagliamento |
(PN) |
on 25/05/1979 |
- Fiscal Code : CSSFBA79E25I403K |
|
Residence: |
Barozzi |
, 22/3 |
- 31020 |
San Fior |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
||
|
Managing Director |
30/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Mak |
Chin Sing |
|
Born in Hong-kong |
( ) |
on 03/11/1955 |
- Fiscal Code : MKACNS55S03Z210I |
|
Residence: |
Fu Cheung Centre |
, 5-7 |
Hong-kong |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
|
Danesin |
Noris |
|
Born in Treviso |
(TV) |
on 19/05/1960 |
- Fiscal Code : DNSNRS60E59L407C |
|
Residence: |
Del Pozzo |
, 14 |
- 30173 |
Venezia |
(VE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
|
Au |
Kim Ying Alex |
|
Born in Hong-kong |
( ) |
on 06/07/1976 |
- Fiscal Code : AUXKYN76L06Z221L |
|
Residence: |
Flat D Block 6 |
, 13/F |
Park Island Ma Wan |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
|
Sml Italy Srl |
|
: |
Friuli |
, 57 |
- 31020 |
San Vendemiano |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Salvador |
Sandro |
|
Born in Pieve di Cadore |
(BL) |
on 11/12/1975 |
- Fiscal Code : SLVSDR75T11G642M |
|
Residence: |
Benini |
, 11/A |
- 31015 |
Conegliano |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
15/10/2015 |
|
No Prejudicial events are reported |
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
Cassin |
Fabio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Sml Italy Srl |
San Vendemiano (TV) - IT - |
09635780019 |
Attorney with
special power |
Withdrawn |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Sml Italy Srl |
San Vendemiano - IT - |
09635780019 |
100,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Dualplast S.r.l. |
San Vendemiano - IT - |
00774060263 |
520.000 .Eur |
100,00 |
Ceased |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Friuli |
, 57 |
- 31020 |
- San Vendemiano |
(TV) |
- IT - |
|
PHONE |
: 04384915 |
|
Legal mail |
: DUALPLAST@LEGALMAIL.IT |
|
- |
Branch |
(Store) |
since 01/03/2007 |
|
Friuli |
, 55 |
- 31020 |
- San Vendemiano |
(TV) |
- IT - |
|
Employees |
: 18 |
|
Fittings and Equipment for a value of 30.000 |
Eur |
|
Stocks for a value of 240.000 |
Eur |
CEASINGS/INCORPORATIONS/MERGES:
|
Project of merging by taking over of |
|
Dualplast S.r.l. |
|
Friuli |
, 55 |
, 31020 |
, San Vendemiano |
(TV) |
- IT - |
|
Fiscal Code: 00774060263 |
|
Date |
Merging/splitting-up project: |
03/10/2005 |
|
The firm absorbed by merging of |
|
Dualplast S.r.l. |
|
Friuli |
, 55 |
, 31020 |
, San Vendemiano |
(TV) |
- IT - |
|
Fiscal Code: 00774060263 |
|
Date |
: |
17/12/2005 |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
Subject is active since 2002
An eco-fin analysis has been made on the base od the b/s fo the years
2012, 2013 and 2014.
Under the financial profile unstable results are noted. with a loss in
the last financial year. The turnover is growing in the last financial year
(+28,47%).
The operating result is negative.
The amount of the operating loss for 2014 is equal to Eur. -141.952.
The gross operating margin for the fiscal year 2014 is negative, for an
amount of Eur. -78.207.
The financial status of the company is fairly balanced with an indebtedness
level of 1,7 with an improving trend as on the decrease.
With regard to equity capital, an amount of Eur. 985.167 is registered.
with a growth of 37,04% in 2014.
Total indebtedness totalled Eur. 1.912.977, showing a stable trend as
opposed to 2013 (Eur. 1.931.346).
Financial indebdtedness is under control whereas debts to suppliers are
frequent even in comparison with the sector's.
Liquidity is however good.
Accounts receivable average term is high (183,68 days). besides being
higher than the sector's average.
(Eur. -118.426) is the negative value of the cash flow.
Labour cost expenses amount to Eur. 1.005.452 , representing 24,83% on
the total of production costs. , whereas 26,08% is the incidence on sales
revenues.
Limited financial charges in relation to sales volume.
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.854.923 |
|
Profit (Loss) for the period |
-182.171 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.000.533 |
|
Profit (Loss) for the period |
-438.102 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.734.948 |
|
Profit (Loss) for the period |
87.060 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.859.910 |
|
Profit (Loss) for the period |
65.394 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.749.259 |
|
Profit (Loss) for the period |
-145.476 |
From our constant monitoring of the relevant Public Administration offices,
no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2014 |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,11 |
0,14 |
0,17 |
0,33 |
|
Elasticity Ratio |
Units |
0,89 |
0,86 |
0,83 |
0,65 |
|
Availability of stock |
Units |
0,08 |
0,07 |
0,05 |
0,14 |
|
Total Liquidity Ratio |
Units |
0,81 |
0,79 |
0,78 |
0,47 |
|
Quick Ratio |
Units |
0,08 |
0,07 |
0,04 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,70 |
2,40 |
0,97 |
2,54 |
|
Self Financing Ratio |
Units |
0,33 |
0,26 |
0,47 |
0,22 |
|
Capital protection Ratio |
Units |
1,08 |
1,47 |
0,06 |
0,74 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,02 |
0,24 |
|
Financing |
Units |
1,94 |
2,69 |
1,04 |
3,21 |
|
Permanent Indebtedness Ratio |
Units |
0,34 |
0,27 |
0,49 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,12 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,10 |
1,96 |
2,88 |
1,17 |
|
Current ratio |
Units |
1,39 |
1,21 |
1,68 |
1,10 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,27 |
1,11 |
1,58 |
0,82 |
|
Structure's primary quotient |
Units |
3,02 |
1,89 |
2,82 |
0,68 |
|
Treasury's primary quotient |
Units |
0,12 |
0,11 |
0,07 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
303,65 |
378,77 |
210,66 |
455,17 |
|
Current Capital ( net ) |
Value |
751.996 |
411.975 |
822.448 |
135.108 |
|
RETURN |
|||||
|
Return on Sales |
% |
-3,07 |
-12,21 |
6,67 |
3,71 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-18,49 |
-60,94 |
7,52 |
2,32 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-16,88 |
-47,27 |
7,07 |
8,76 |
|
Return on Investment ( R.O.I. ) |
% |
-4,75 |
-12,24 |
-14,00 |
3,87 |
|
Return/ Sales |
% |
-3,68 |
-11,11 |
-12,47 |
3,60 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
16,69 |
|
Cash Flow |
Value |
-118.426 |
-366.435 |
182.360 |
147.669 |
|
Operating Profit |
Value |
-141.952 |
-333.210 |
-341.184 |
140.969 |
|
Gross Operating Margin |
Value |
-78.207 |
-261.543 |
-245.884 |
283.954 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
183,68 |
194,85 |
200,62 |
110,91 |
|
Debts to suppliers average term |
Days |
205,41 |
266,79 |
186,38 |
113,90 |
|
Average stock waiting period |
Days |
22,40 |
23,89 |
15,65 |
47,23 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,29 |
1,10 |
1,12 |
1,09 |
|
Rate of stock return |
Units |
16,07 |
15,07 |
23,00 |
7,61 |
|
Labour cost incidence |
% |
26,08 |
34,10 |
37,60 |
15,52 |
|
Net financial revenues/ charges incidence |
% |
-0,62 |
-0,48 |
0,05 |
-1,76 |
|
Labour cost on purchasing expenses |
% |
24,83 |
30,53 |
33,31 |
15,56 |
|
Short-term financing charges |
% |
1,37 |
0,83 |
0,43 |
3,19 |
|
Capital on hand |
% |
77,60 |
90,75 |
89,12 |
91,39 |
|
Sales pro employee |
Value |
124.352 |
96.791 |
85.467 |
214.336 |
|
Labour cost pro employee |
Value |
32.433 |
33.002 |
32.136 |
32.630 |
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.
|
Population living in the province |
: |
838.732 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
The values are calculated on a base of 2.727 significant companies.
The companies cash their credits on an average of 111 dd.
The average duration of suppliers debts is about 114 dd.
The sector's profitability is on an average of 3,71%.
The labour cost affects the turnover in the measure of 15,52%.
Goods are held in stock in a range of 47 dd.
The difference between the sales volume and the resources used to
realize it is about 1,09.
The employees costs represent the 15,56% of the production costs.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.280.
The insolvency index for the region is 0,30, , while for the province it
is 0,28.
Total Bankrupt companies in the province : 3.317.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
EUR |
1 |
Rs. 72.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ASH |
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.