MIRA INFORM REPORT

 

 

Report No. :

330459

Report Date :

09.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SABA S.R.L. IN LIQUIDAZIONE

 

 

Registered Office :

Via Santa Liberata, 64, 20832 – Desio (MB)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

19.05.1989

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 


Status :

Bankrupt 

 

 

Payment Behaviour :

--

 

 

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

 

Company Name and address

 

SABA S.R.L. IN LIQUIDAZIONE

 

Via    Santa Liberata,    64

 

20832 – Desio (MB) -IT-

 

 

Summary

 

Fiscal Code

:

09735120157

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

03/07/1990

Firm's Status

:

Bankrupt



Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 09735120157

 

Chamber of Commerce no. : 1313804 of Monza e Brianza since 20/07/2007

 

Chamber of Commerce no. : 1313804 of Milano since 28/07/1989

 

Establishment date

: 19/05/1989

Start of Activities

: 03/07/1990

Legal duration

: 31/12/2050

Nominal Capital

: 10.500

Subscribed Capital

: 10.500

Paid up Capital

: 10.500

 

Legal mail :

f119.2013monza@pecfallimenti.it

 

 

Members

 

Saba

Domenico

 

Born in Bultei

(SS)

on 30/09/1945

- Fiscal Code : SBADNC45P30B264D

 

Residence:

Pace

, 28

- 20812

Limbiate

(MB)

- IT -

 

Position

Since

Shares Amount

% Ownership

General Director

13/03/1995

Sole partner

29/12/2011

Liquidator

15/03/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Sorrentino

Pino

 

Born

on 05/04/1963

- Fiscal Code : SRRPNI63D05H907H

 

Residence:

Carducci

, 32

- 20100

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Trustee

26/04/2013



Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

Saba

Domenico

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Immobiliare Cinzia E Katia Saba S.n.c.

Limbiate (MB) - IT -

04482660158

Partner

Withdrawn

Registered

Eurostone Italia S.r.l. In Liquidazione

Desio (MB) - IT -

02855620965

Sole Director

Withdrawn

Registered

Eurostone Italia S.r.l. In Liquidazione

Desio (MB) - IT -

02855620965

Liquidator

Active

Registered

Mille Bar S.n.c. Di Zampirolli Anita E Maddalena F

Desio (MI) - IT -

02523760961

Partner

Withdrawn

Ceased

 

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.



Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Saba Domenico

Limbiate - IT -

SBADNC45P30B264D

100,00



Firm's location and structure

 

-

Legal and operative seat

 

Santa Liberata

, 64

- 20033

- Desio

(MB)

- IT -

 

PHONE

: 029963377

 

FAX

: 029965505

 

Legal mail

: F119.2013MONZA@PECFALLIMENTI.IT



Historical Information and/or Firm's Status

 

CEASINGS/INCORPORATIONS/MERGES:

 

The company is in voluntary winding-up

 

Date

: 21/03/2013

 

 

Protests

 

Protests checking on the subject firm has given the following results:

 

SABA SRL (09735120157)

VIA SANTA LIBERATA 64/A

- DESIO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested cheque

09/11/2012

12.000

23.235.240

Lack of funds

 

SABA SRL (09735120157)

VIA SANTA LIBERATA 64/A

- DESIO

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested cheque

09/11/2012

15.000

29.044.050

Lack of funds

 

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

4

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

 

 

Legal Procedures

 

In the name of the firm we report the following events:

 

Bankruptcy since 16/04/2013


Financial Data

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

1.020.892

Profit (Loss) for the period

-973.126

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

1.480.505

Profit (Loss) for the period

-50.414

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

1.589.747

Profit (Loss) for the period

-85.998

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

1.510.007

Profit (Loss) for the period

-33.208

 

 

Balance Sheets

 

From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.

 

- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1

 

Years

2012

2011

2010

BALANCE SHEET ACCOUNTS

 

ASSETS

CREDITS VS PARTNERS

. Deposits not yet withdrawn

. Deposits already withdrawn

Total credits vs partners

FIXED ASSETS

. INTANGIBLE FIXED ASSETS

. . Start-up and expansion expenses

. . Research,develop. and advert.expens.

. . Industrial patent rights

. . Concessions,licenses,trademarks,etc.

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

. Total Intangible Fixed Assets

4.366

5.821

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

. . Industrial and commercial equipment

. . Other assets

. . Assets under construction and advances

. Total Tangible fixed assets

48

2.674

16.326

. FINANCIAL FIXED ASSETS

. . Equity investments

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

. . Financial receivables

711

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivab due from subsidiaries

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from assoc.comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from third parties

. . . . Within 12 months

. . . . Beyond 12 months

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

12.401

12.401

13.112

Total fixed assets

12.449

19.441

35.259

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

. . Advance payments

. Total Inventories

7.938

570.000

428.700

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

906.828

2.034.911

2.036.568

. . Beyond 12 months

5.977

5.977

9.542

. . Trade receivables

1.946.329

. . . . Within 12 months

1.946.329

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Fiscal Receivables

28.376

. . . . Within 12 months

28.376

. . . . Beyond 12 months

. . Receivables for anticipated taxes

5.977

. . . . Within 12 months

. . . . Beyond 12 months

5.977

. . Receivables due from third parties

60.206

. . . . Within 12 months

60.206

. . . . Beyond 12 months

. Total Credits not held as fixed assets

912.805

2.040.888

2.046.110

. FINANCIAL ASSETS

. . Equity invest. in subsidiary comp.

. . Equity invest. in associated companies

. . Equity invest. in holding companies

. . Other equity investments

. . Own shares

. . . Total nominale value

. . Other securities

. Total Financial Assets

. LIQUID FUNDS

. . Bank and post office deposits

. . Checks

. . Banknotes and coins

. Total Liquid funds

22.040

54.713

1.581

Total current assets

942.783

2.665.601

2.476.391

ADJUSTMENT ACCOUNTS

. Discount on loans

. Other adjustment accounts

2.490

7.242

9.703

Total adjustments accounts

2.490

7.242

9.703

TOTAL ASSETS

957.722

2.692.284

2.521.353

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

10.400

10.400

10.400

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

3.554

3.554

3.554

. Reserve for Own shares

. Statute reserves

. Other reserves

25

412

414

. Accumulated Profits (Losses)

. Profit( loss) of the year

-1.946.254

-50.414

-171.996

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

-1.932.275

-36.048

-157.628

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

. . Other funds

Total Reserves for Risks and Charges

17.564

23.082

13.795

Employee termination indemnities

109.904

207.071

198.877

ACCOUNTS PAYABLE

. . . . Within 12 months

1.590.567

2.379.502

2.282.205

. . . . Beyond 12 months

198.785

88.658

87.367

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

50.027

. . . . Within 12 months

. . . . Beyond 12 months

50.027

. . Due to banks

67.148

. . . . Within 12 months

38.898

. . . . Beyond 12 months

28.250

. . Due to other providers of finance

10.381

. . . . Within 12 months

. . . . Beyond 12 months

10.381

. . Advances from customers

10.970

. . . . Within 12 months

10.970

. . . . Beyond 12 months

. . Trade payables

1.706.295

. . . . Within 12 months

1.706.295

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

281.260

. . . . Within 12 months

281.260

. . . . Beyond 12 months

. . Due to social security and welfare inst.

219.719

. . . . Within 12 months

219.719

. . . . Beyond 12 months

. . Other payables

122.360

. . . . Within 12 months

122.360

. . . . Beyond 12 months

Total accounts payable

1.789.352

2.468.160

2.369.572

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

50

30.019

10.739

Total adjustment accounts

50

30.019

10.739

TOTAL LIABILITIES

-15.405

2.692.284

2.435.355

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

1.020.892

1.480.505

1.589.747

. Changes in work in progress

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

12.166

87.963

33.698

. . Contributions for operating expenses

. . Different income and revenues

12.166

87.963

33.698

Total value of production

1.033.058

1.568.468

1.623.445

PRODUCTION COSTS

. Raw material,other materials and consum.

460.822

749.143

722.939

. Services received

236.604

. Leases and rentals

199.168

61.608

309.429

. Payroll and related costs

464.135

568.544

592.973

. . Wages and salaries

315.809

388.357

402.285

. . Social security contributions

122.088

145.710

151.361

. . Employee termination indemnities

18.133

27.897

29.918

. . Pension and similar

. . Other costs

8.105

6.580

9.409

. Amortization and depreciation

19.807

23.236

. . Amortization of intangible fixed assets

1.455

1.455

. . Amortization of tangible fixed assets

18.352

21.781

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

. Changes in raw materials

562.062

-141.300

-27.424

. Provisions to risk reserves

. Other provisions

. Other operating costs

28.995

54.326

67.616

Total production costs

1.715.182

1.548.732

1.688.769

Diff. between value and cost of product.

-682.124

19.736

-65.324

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

157

133

1.249

. . Financ.income from receivables

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

. . Financ.income from secur. t.f.assets

. . Financ.income from secur. cur.assets

. . Financ.income other than the above

157

1.249

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

157

1.249

. Interest and other financial expense

-19.586

-36.545

-27.304

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

19.586

27.304

Total financial income and expense

-19.429

-36.412

-26.055

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

. . Of financ.fixed assets not repres.E.I.

. . Of securities incl.among current assets

. Devaluation

. . Of equity investments

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

757.934

867

12.520

. . Gains on disposals

228.568

. . Other extraordinary income

529.366

867

12.520

. Extraordinary expense

-1.029.507

-10.339

-505

. . Losses on disposals

-7.184

. . Taxes relating to prior years

. . Other extraordinary expense

-1.022.323

-10.339

-505

Total extraordinary income and expense

-271.573

-9.472

12.015

Results before income taxes

-973.126

-26.148

-79.364

. Taxes on current income

24.266

6.634

. . current taxes

23.082

13.795

. . differed taxes(anticip.)

1.184

-7.161

. Net income for the period

-973.126

-50.414

-85.998

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-973.126

-50.414

-85.998

 

RATIOS

Value Type

as at 31/12/2012

as at 31/12/2011

as at 31/12/2010

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,01

0,01

0,01

Elasticity Ratio

Units

0,98

0,99

0,98

Availability of stock

Units

0,01

0,21

0,17

Total Liquidity Ratio

Units

0,98

0,78

0,81

Quick Ratio

Units

0,02

0,02

0,00

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

n.c.

n.c.

n.c.

Self Financing Ratio

Units

n.c.

n.c.

n.c.

Capital protection Ratio

Units

n.c.

n.c.

n.c.

Liabilities consolidation quotient

Units

0,19

0,12

0,13

Financing

Units

n.c.

n.c.

n.c.

Permanent Indebtedness Ratio

Units

n.c.

0,10

0,05

M/L term Debts Ratio

Units

0,32

0,11

0,11

Net Financial Indebtedness Ratio

Units

n.c.

n.c.

n.c.

CORRELATION

Fixed assets ratio

Units

n.c.

13,36

3,65

Structure's primary quotient

Units

n.c.

n.c.

n.c.

Treasury's primary quotient

Units

0,01

0,02

0,00

Rate of indebtedness ( Leverage )

%

n.c.

n.c.

n.c.

Current Capital ( net )

Value

-647.784

286.099

194.186

RETURN

Return on Equity - Net- ( R.O.E. )

%

n.c.

n.c.

n.c.

Return on Equity - Gross - ( R.O.E. )

%

n.c.

n.c.

n.c.

Return on Investment ( R.O.I. )

%

-71,22

0,73

-2,59

Return/ Sales

%

-66,82

1,33

-4,11

Extra Management revenues/charges incid.

%

n.c.

-255,44

n.c.

Cash Flow

Value

-973.126

-30.607

-62.762

Operating Profit

Value

-682.124

19.736

-65.324

Gross Operating Margin

Value

-682.124

39.543

-42.088

MANAGEMENT

Credits to clients average term

Days

n.c.

473,27

n.c.

Debts to suppliers average term

Days

n.c.

586,49

n.c.

Rate of capital employed return ( Turnover )

Units

1,07

0,55

0,63

Rate of stock return

Units

128,61

2,60

3,71

Labour cost on purchasing expenses

%

27,06

36,71

35,11

Short-term financing charges

%

1,09

1,48

1,15

Capital on hand

%

93,81

181,85

158,60

Sales pro employee

Value

72.920

87.088

88.319

Labour cost pro employee

Value

33.152

33.443

32.942

 

 

Remarks

 

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.

 

 

Market/ Territory Data

 

Population living in the province

:

9.393.092

Population living in the region

:

0

Number of families in the region

:

0

 

Monthly family expences average in the region (in .) :

 

- per food products

:

0

- per non food products

:

0

- per energy consume

:

0


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.57

UK Pound

1

Rs.98.22

Euro

1

Rs.69.93

 

INFORMATION DETAILS

 

Analysis Done by :

SAN 

 

 

Report Prepared by :

NIT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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