MIRA INFORM REPORT

 

 

Report No. :

309616

Report Date :

28.02.2015

 

IDENTIFICATION DETAILS

 

Name :

FRANK SOMMER, RENÉ GRUBBA

 

 

Registered Office :

Beilsteiner Str. 119f, D 12681 Berlin

 

 

Country :

Germany

 

 

Date of Incorporation :

01.08.1991

 

 

Legal Form :

Partnership under the Civil Code

 

 

Line of Business :

Subject is engaged in retail sale of leatheware and baggage.

 

 

No. of Employee :

2

 

 

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

 

 

Payment Behaviour :

No complaints

 

 

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)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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

 

Company name and address

 

FRANK SOMMER, RENÉ GRUBBA

 

 Company Status:      active

                      Beilsteiner Str. 119f

                      D 12681 Berlin

                      Telephone:030/92215990

                      Telefax:  030/55492356

                      Homepage: www.branco-lederwaren.de

                      E-mail:   mail@branco-lederwaren.de

 

 Trade name:                  Sommer & Grubba GbR BRANCO

                                    Lederwarengroßhandel Berlin

 

 VAT no.:                      DE136950570

 Tax ID number:             32/537/60148

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

 LEGAL FORM           Partnership under the Civil Code

 Date of foundation:  01.08.1991

 Begin of business

 activities:          01.08.1991

 

 

 General partner

 

                      René Grubba

                      Hausburgstr. 12

                      D 10249 Berlin

                      born: 17.07.1965 in Prenzlau

                      Marital status: unknown

 General partner:

                      Frank Sommer

                      Stühlinger Str. 5

                      D 10318 Berlin

                      born: 03.03.1962 in Berlin

                      Marital status: unknown

 

 COMPANY HISTORY

 

 01.08.1991 - 06.01.2013  Frank Sommer, René Grubba

                          Am Treptower Park 14

                          D 12435 Berlin

                          Partnership under the Civil Code

 07.01.2013 - 31.07.2014  Frank Sommer, René Grubba

                          Türrschmidtstr. 16

                          D 10317 Berlin

                          Partnership under the Civil Code

 

 

 BUSINESS ACTIVITIES

 

 Sectors

 46493   Wholesale of leather goods, luggage, giftware and

 advertising articles

 47722   Retail sale of leatheware and baggage

 

 Payment experience:  within agreed terms

 Negative information:We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address                       Beilsteiner Str. 119f

                                    D 12681 Berlin

 Land register documents were not available.

 

 

 BANKERS

 

 LANDESBANK BERLIN - BERLINER SPARKASSE, 10889 BERLIN

 Sort. code: 10050000, Account no.: 1733320225

 BIC: BELADEBEXXX, IBAN: DE91100500001733320225

 

 

 FINANCIAL FIGURES

 

 Financial year:         01.01. - 31.12.

 Turnover:            2014              *EUR            265,000.00

 Equipment:                              EUR             15,000.00

 Ac/ts receivable:                      *EUR             18,000.00

 Liabilities:                           *EUR             46,000.00

 Employees:                                                      2

 

 The business figures marked with an asterisk are estimates based

  on average values in the line of business.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.79

UK Pound

1

Rs.95.42

Euro

1

Rs.69.28

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.