MIRA INFORM REPORT

 

 

Report No. :

313759

Report Date :

25.03.2015

 

IDENTIFICATION DETAILS

 

Name :

PROGETTO TESSILE SRL

 

 

Registered Office :

Alba county, Alba Iulia, Arnsberg Street, Bl. B1, Ap. 8

 

 

Country :

Romania

 

 

Date of Incorporation :

September 2014

 

 

Legal Form :

Limited liability company

 

 

Line of Business :

Trading with textiles, fur garments, footwear and leather goods

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

D

 

 

ROMANIA ECONOMIC OVERVIEW

 

Romania, which joined the EU on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession due to strong demand in EU export markets. Domestic consumption and investment fueled strong GDP growth, but led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate the business environment. As a result of the global financial crisis, Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. GDP contracted from 2009 to 2011. In March 2011, Romania and the IMF/EU/World Bank signed a 24-month precautionary stand-by agreement, worth $6.6 billion, to promote fiscal discipline, encourage progress on structural reforms, and strengthen financial sector stability. In September 2013, the Romanian authorities and the IMF/EU agreed to a follow-on stand-by agreement, worth $5.4 billion, to continue with reforms, although Bucharest announced that it does not intend to draw funds under the agreement. Economic growth accelerated in 2013, driven by strong industrial exports and an excellent agricultural harvest; in December 2013 inflation dropped to a historical low annual rate of 1.6%; and the current account deficit was reduced substantially. Yet, progress on structural reforms is uneven and the economy still is vulnerable to shocks.

 

Source : CIA

 

Company name & address

 

NAME OF THE COMPANY   

 

 PROGETTO TESSILE SRL

Address      

 

Alba county, Alba Iulia, Arnsberg Street, Bl. B1, Ap. 8

Phone no.

                       

 -

 

Fax no.  

-

Web-site

-

E-mail address

-

 

 

HISTORIC/OFFICIAL DATA

 

Date of foundation

 September 2014

Present legal form

Limited liability company, entire Romanian capital

Registered with the Trade Registry  

J01/576/2014

VAT no.  

 33618017

Registered capital    

200 Ron (minimum value requested by the Romanian law as for a limited liability company)

Shareholders

 

 Individuals

 1. Gal Corina Mihaela – Romanian citizen, born on 10.08.1968

Participation:                

 

 10%

2. Rus Emilian Marius – Romanian citizen, born on 28.12.1969

Participation:

 

90%

 

 

Obligation to publish

 

According to the Romanian Financial Legislation, subject company is obliged to lodge with the Ministry of  Public Finance its half-yearly accounts

 

 

BUSINESS ACTIVITY

 

  As officially declared with the National Trade Registry updated files

 

- intermediary activities in trading with textiles, fur garments, footwear and leather goods (NACE – 4616)

 

No further details are available with any other sources, including internet.

 

OTHER PARTICIPATION

 

  1. Company’s participation

 

subject is not involved as shareholder in any other Romanian company  / not aplicable

 

 
  1. Shareholders other participation

 

Name of the company

Reg. no.

VAT

Gal Corina Mihaela

1.AD VALOREM SRL

J01/431/2002

14928283

2.ALBA CONTEXPERT SRL

J01/901/2012

31030320

3.PLANET SRL

J01/501/2003

15516167

4.INTERCARPATICA SRL

J01/111/2004

16106017

5.JOHNSON CAR WASH SRL

J01/323/2014

33174593

6.TIFFANY TOUR SRL

J01/433/2013

31993656

Rus Emilian Marius

1.AD VALOREM SRL

J01/431/2002

14928283

2.ALBA CONTEXPERT SRL

J01/901/2012

31030320

3.INTERCARPATICA SRL

J01/111/2004

16106017

4.JOHNSON CAR WASH SRL

J01/323/2014

33174593

5.TEXTILE MULTISERVICE SRL

J01/445/2013

32012550

6.TIFFANY TOUR SRL

J01/433/2013

31993656

BANKS

 

 

N/A

 

MANAGEMENT

as officially registered with the National Trade Registry

 

 

 

 

 

ADMINISTRATOR

Rus Emilian Marius – appointed on 23.09.2014 for unlimited period

 

 

 

 

FINANCIAL DATA & OPINION

 

Being incorporated just in September 2014, company under review is a recently established one. In this respect, no financial statements are available for the moment, so that, a financial analysis or credit opinion about the company cannot be expressed.

The first financial statements of the company (as for the end of 2014) are expected to be available in August 2015, but in this case, concerning only 3 months of an eventually activity, that situation will not be relevant.

Business relationships should be taken with care.

We recommend reviewing this company at a later date.

 

 

 

PAYMENTS INCIDENTS, as

officially recorded with the Payment Incident Bureau:

 

 

 

No incidents recording during 24.03.2014- 24.03.2015

 

 

 

BLACKLISTING (international sanctions)

 

 

Not applicable

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.19

UK Pound

1

Rs. 92.93

Euro

1

Rs. 68.03

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

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.