MIRA INFORM REPORT
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Report No. : |
302307 |
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Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GENFITT (MAYO) LIMITED |
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|
|
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Registered Office : |
Knock Road, Kiltimagh Co
Mayo 999412 |
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Country : |
Ireland |
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Date of Incorporation : |
14.12.2000 |
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Com. Reg. No.: |
IE336567 |
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Legal Form : |
Private Company |
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Line of Business : |
Engaged as wholesale distributor of Farm Machinery Parts, Agricultural Components, Spares and Tine to the Agricultural Trade Sector |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 : |
Unknown |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Ireland |
a2 |
a2 |
|
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 |
Ireland ECONOMIC OVERVIEW
Ireland is a small, modern,
trade-dependent economy. Ireland was among the initial group of 12 EU nations that
began circulating the euro on 1 January 2002. GDP growth averaged 6% in
1995-2007, but economic activity has dropped sharply since the onset of the
world financial crisis. Ireland entered into a recession in 2008 for the first
time in more than a decade, with the subsequent collapse of its domestic
property market and construction industry. Property prices rose more rapidly in
Ireland in the decade up to 2007 than in any other developed economy. Since
their 2007 peak, average house prices have fallen 47%. In the wake of the
collapse of the construction sector and the downturn in consumer spending and
business investment, the export sector, dominated by foreign multinationals,
has become an even more important component of Ireland's economy. Agriculture,
once the most important sector, is now dwarfed by industry and services. In
2008 the former COWEN government moved to guarantee all bank deposits,
recapitalize the banking system, and establish partly-public venture capital
funds in response to the country's economic downturn. In 2009, in continued
efforts to stabilize the banking sector, the Irish Government established the
National Asset Management Agency (NAMA) to acquire problem commercial property
and development loans from Irish banks. Faced with sharply reduced revenues and
a burgeoning budget deficit, the Irish Government introduced the first in a
series of draconian budgets in 2009. In addition to across-the-board cuts in
spending, the 2009 budget included wage reductions for all public servants. These
measures were not sufficient to stabilize Ireland’s public finances. In 2010,
the budget deficit reached 32.4% of GDP - the world's largest deficit, as a
percentage of GDP - because of additional government support for the country’s
deeply troubled banking sector. In late 2010, the former COWEN government
agreed to a $92 billion loan package from the EU and IMF to help Dublin
recapitalize Ireland’s fragile banking sector and avoid defaulting on its
sovereign debt. Since entering office in March 2011, the new KENNY government
has intensified austerity measures to try to meet the deficit targets under
Ireland's EU-IMF program. Ireland has grown slowly since 2011, but managed to
reduce the budget deficit to 7.2% of GDP in 2013. In late 2013, Ireland formally
exited its EU-IMF bailout program, benefiting from its strict adherence to
deficit-reduction targets and success in refinancing a large amount of
banking-related debt.
|
Source : CIA |
REGISTERED
NAME & COMPANY SUMMARY
Company Name: GENFITT (MAYO) LIMITED
Company No: IE336567
Company Status: Section 17 (Southern Ireland)
%20LIMITED%20%20-%20302307%2008-Jan-2015_files/image011.gif)
Principal Activity
Engaged as wholesale distributor of Farm Machinery Parts, Agricultural Components, Spares and Tine to the Agricultural Trade Sector
DIRECTORS/MANAGEMENT
|
Name |
Date of
Birth |
17/02/1959 |
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|
Officers
Title |
|
Nationality |
|
|
Present Appointments |
24 |
Function |
Director |
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Appointment
Date |
30/11/2005 |
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|
|
Address |
73
HIGHFIELD ROAD, RATHGAR, DUBLIN 6 |
||
|
Name |
Date of
Birth |
04/11/1955 |
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|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
32 |
Function |
Director |
|
Appointment
Date |
30/11/2005 |
|
|
|
Address |
12 ST
MARYS ROAD, BALLSBRIDGE, DUBLIN 4 |
||
|
Name |
Date of
Birth |
15/04/1954 |
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|
Officers
Title |
|
Nationality |
|
|
Present Appointments |
15 |
Function |
Director |
|
Appointment
Date |
30/11/2005 |
|
|
|
Address |
49
ROSELAWN, LUCAN, CO DUBLIN |
||
|
Name |
Date of
Birth |
24/01/1969 |
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|
Officers
Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Director |
|
Appointment
Date |
20/03/2006 |
|
|
|
Address |
"FAIRHILL",
BELCARRA, CASTLEBAR, CO. MAYO |
||
|
Name |
Date of
Birth |
27/03/1974 |
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|
Officers
Title |
|
Nationality |
|
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
09/04/2014 |
|
|
|
Address |
MAYNEEN,
WESTPORT, CO. MAYO |
||
Previous
Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
1 |
4 |
|
|
0 |
2 |
|
|
0 |
2 |
|
|
6 |
4 |
|
|
0 |
13 |
NEGATIVE
INFORMATION
CJ
|
Total
Number of Exact CJs - |
Total
Value of Exact CJs - |
||
|
Total
Number of Possible CJs - |
Total
Value of Possible CJs - |
||
|
Total
Number of Satisfied CJs - |
Total
Value of Satisfied CJs - |
Writ Details
|
No writs
found |
SHARE
& SHARE CAPITAL INFORMATION
Top 20 Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
|
GARDINER GROUP LTD |
EUR |
2 |
ORDINARY |
1.27 |
PAYMENT
INFORMATION
%20LIMITED%20%20-%20302307%2008-Jan-2015_files/image004.jpg)
GROUP STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group |
13
companies |
|
Linkages |
|
|
Countries
|
Summary
|
Holding
Company |
ROLL UP
LIMITED |
|
Ownership
Status |
Intermediately
Owned |
|
Ultimate
Holding Company |
ROLL UP
LIMITED |
Group structure
Full
|
Company
Name |
|
Registered
Number |
Latest
Key Financials |
Consol.
Accounts |
Turnover |
|
|
IE377933 |
31.12.2013 |
Y |
€32,559,000
|
|
|
|
IE118029 |
31.12.2013 |
Y |
|
|
|
|
IE449121 |
31.12.2013 |
Y |
|
|
|
|
IE233502 |
31.12.2013 |
Y |
|
|
|
|
IE021170 |
31.12.2013 |
Y |
|
|
|
|
IE168610 |
31.12.2013 |
Y |
|
|
|
|
IE118038 |
31.12.2013 |
Y |
|
|
|
|
IE073601 |
31.12.2013 |
Y |
|
|
|
|
IE033416 |
31.12.2013 |
Y |
|
|
|
|
IE023423 |
31.12.2013 |
Y |
|
|
|
|
IE336567 |
31.12.2013 |
Y |
|
|
|
|
IE053998 |
31.12.2013 |
Y |
|
|
|
|
IE034742 |
31.12.2013 |
Y |
|
%20LIMITED%20%20-%20302307%2008-Jan-2015_files/image012.gif){kind=small}
FINANCIAL
INFORMATION
%20LIMITED%20%20-%20302307%2008-Jan-2015_files/image007.jpg)
|
Auditors |
KPMG |
|
Auditor
Comments |
The audit
report contains no adverse comments |
|
Bankers |
BANK OF
IRELAND |
ADDITIONAL
INFORMATION
Current Company
Secretary
|
Name |
Date of
Birth |
04/11/1955 |
|
|
Officers
Title |
|
Nationality |
|
|
Present Appointments |
32 |
Function |
Company
Secretary |
|
Appointment
Date |
30/11/2005 |
|
|
|
Address |
12 ST
MARYS ROAD, BALLSBRIDGE, DUBLIN 4 |
||
Status History
|
No Status
History found |
|
Date |
Description |
|
14/10/2014 |
New
Accounts Filed |
|
14/10/2014 |
New Accounts
Filed |
|
13/10/2014 |
Annual
Returns |
|
09/04/2014 |
New Board
Member (RAY MC LOUGHLIN) appointed |
|
15/10/2013 |
New
Accounts Filed |
|
12/10/2013 |
Annual
Returns |
|
11/10/2012 |
New
Accounts Filed |
|
11/10/2012 |
New
Accounts Filed |
|
10/10/2012 |
Annual
Returns |
|
26/10/2011 |
Annual
Returns |
|
26/10/2011 |
New
Accounts Filed |
|
28/02/2011 |
CHRISTIAN
DIJKSTRA has left the board |
|
25/10/2010 |
Annual
Returns |
|
23/10/2010 |
New
Accounts Filed |
|
12/10/2009 |
New
Accounts Filed |
Previous Company
Names
|
No
Previous Names found |
Business Owner
Links
|
Business
Name |
Business
No |
Business
Status. |
|
----- |
||
|
NORMAL |
||
|
CEASED |
||
|
NORMAL |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.