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Report No. : |
353518 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
PRESIDENT FABRICS GMBH |
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Registered Office : |
Hänflingstr. 7-9 D 45472
Mülheim |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.03.2013 |
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Legal Form : |
Private limited company |
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Line of Business : |
Wholesale of textiles |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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, 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 5.2% in 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) 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%. The budget was essentially in balance in 2014. 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 plans to replace nuclear power with renewable energy, which accounted for 27.8% of gross electricity consumption in 2014, up from 9% in 2000. 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.
|
Source
: CIA |
President Fabrics GmbH
Hänflingstr. 7-9
D 45472 Mülheim
Telephone:0208/3024847
Telefax: 0208/74059917
Active
Business
relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 12.03.2013
Shareholders'
agreement: 12.03.2013
Registered on: 18.04.2013
Commercial Register: Local court 47051 Duisburg
under: HRB
25385
Share capital: EUR 25,000.00
Shareholder:
Lila Parbat Odedra
B Achel
born: 25.01.1955
Share: EUR 25,000.00
Manager:
Lila Parbat Odedra
B Achel
having sole power of
representation
born: 25.01.1955
Nationality: Belgian
18.04.2013 - 14.03.2014 President
Fabrics GmbH
Eppinghofer Str. 186
D
45468 Mülheim
Private limited company
Main industrial sector
4641
Wholesale of textiles
Payment experience: No Complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2013
Type
of ownership: Tenant
Address Hänflingstr.
7-9
D 45472 Mülheim
Land register documents were not available.
SPARKASSE MÜLHEIM AN DER RUHR, 45466 MÜLHEIM
AN DER RUHR
Sort. code: 36250000
BIC: SPMHDE3EXXX
Turnover: 2014 *EUR 525,000.00
Equipment: EUR 54,107.00
Ac/ts receivable: EUR 74,898.00
Liabilities: EUR 225,237.00
Employees:
3
The business figures marked with an asterisk
are estimates based
on average values in the line of business.
Balance sheet ratios 12.03.2013 - 31.12.2013
Equity ratio [%]: 7.59
Liquidity ratio: 0.34
Return on total capital [%]: -2.55
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
Origin of the present
balance sheet: Other
Financial year: 12.03.2013 - 31.12.2013
ASSETS EUR 246,396.08
Fixed assets EUR 54,107.00
Tangible assets EUR 54,107.00
Other tangible assets /
fixtures and
fittings EUR 54,107.00
Current assets EUR 188,454.08
Stocks EUR 109,179.50
Finished goods / work in
progress EUR 109,179.50
Accounts receivable EUR 74,897.93
Trade debtors EUR 73,083.29
Other debtors and
assets EUR 1,814.64
Liquid means EUR 4,376.65
Remaining other
assets EUR 3,835.00
Accruals (assets) EUR 3,835.00
LIABILITIES EUR 246,396.08
Shareholders' equity EUR 18,710.83
Capital EUR 25,000.00
Subscribed capital
(share capital) EUR 25,000.00
Balance sheet profit/loss
(+/-) EUR -6,289.17
Annual surplus / annual
deficit EUR -6,289.17
Provisions EUR 2,448.00
Other / unspecified
provisions EUR 2,448.00
Liabilities EUR 225,237.25
Financial debts EUR 13,814.72
Liabilities due to
banks EUR 13,814.72
Other liabilities EUR 211,422.53
Trade creditors (for IAS
incl. bills
of exchange) EUR 171,559.40
Liabilities from
received advance
payments EUR 32,804.88
Unspecified other
liabilities EUR 7,058.25
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
|
|
|
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TRU |
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.