|
Report No. : |
319557 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MULTIGAMA TECH SRL |
|
|
|
|
Registered Office : |
Sapte Drumuri 9 031646 Bucuresti Sector 3 |
|
|
|
|
Country : |
Romania |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
13.04.1999 |
|
|
|
|
Com. Reg. No.: |
J40/3518/1999 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Agents involved in the sale of machinery, industrial equipment, ships and aircraft |
|
|
|
|
No. of Employee : |
29 (2013) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Romania |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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. 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. In the aftermath of the global financial crisis, Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders, but GDP contracted until 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, Romanian authorities and the IMF/EU agreed to a follow-on precautionary two-year stand-by agreement, worth $5.4 billion, to continue with reforms, although Bucharest has announced that it does not intend to draw funds under the agreement. Economic growth rebounded in 2013, driven by strong industrial exports and an excellent agricultural harvest, and the current account deficit was reduced substantially. The economy closed out 2014 with 2.8% growth, down from the 3.5% posted in 2013. Industry outperformed other sectors of the economy. Exports remained the engine of economic growth, led by trade with the EU, which accounts for roughly 70% of Romania trade. In 2014, the Government of Romania succeeded in meeting its annual target for the budget deficit, the external deficit remained low, and inflation was the lowest since 1989, allowing a gradual loosening of the monetary policy throughout the year. However, progress on structural reforms has been uneven and the economy still is vulnerable to external shocks. An ageing population, weak domestic demand, tax evasion, and insufficient health-care represent top vulnerabilities.
|
Source
: CIA |
|
MULTIGAMA
TECH SRL |
Telephone |
+40 21
3248080 |
|
Sapte Drumuri
9 |
Fax |
+40 21
3248080 |
|
031646
Bucuresti Sector 3 |
E-mail |
|
|
Romania |
WEB |
|
Crefo No. |
350155 |
Registration No. |
J40/3518/1999 |
|
Tax No. |
RO
11695647 |
Status |
Active |
Business
connection Business connections are
not denied
Payment
behaviour So far no complaints
,recently occasional reminders
LEGAL FORM
Private Limited Company
REGISTRATION AND CHANGES
Established on 13.04.1999 as Multigama Tech Srl Private
Limited Company
OWNERS AND CAPITAL
|
Name /
Address / Nationality |
From |
Share |
|
Gheorghiu
Liviu (birth
date 15/08/1954) Romania Romanian |
26/03/1999 |
100,000000
% |
REGISTERED
CAPITAL
|
Currency |
Value |
|
RON |
100.000 |
MANAGEMENT
|
Name /
Address / Status |
Since |
Position |
|
Macovei
Maria (birth date 07/01/1960) ORAS
VOLUNTARI Romania |
|
Administrator |
|
Main
activity |
Nace |
|
Agents
involved in the sale of machinery, industrial equipment, ships and aircraft |
4614 |
|
Date |
Turnover |
Employees |
|
31.12.2013 |
19.500.300
RON |
29 |
|
31.12.2012 |
17.980.530
RON |
24 |
|
31.12.2011 |
23.575.552
RON |
24 |
|
31.12.2009 |
19.355.506
RON |
24 |
|
31.12.2008 |
14.367.065
RON |
21 |
|
31.12.2007 |
10.227.356
RON |
22 |
|
31.12.2006 |
12.424.719
RON |
18 |
|
31.12.2005 |
6.183.928 RON |
17 |
|
31.12.2004 |
6.530.943,9
RON |
17 |
|
31.12.2003 |
5.146.419,4
RON |
20 |
|
31.12.2002 |
4.291.254,8
RON |
15 |
|
31.12.2001 |
1.517.428,1
RON |
15 |
PROPERTIES
According to the Balance Sheet of 31.12.2013 date the company holds real estates with a book value of 1.684.187,00 RON, but we do not have any other details on the type and location of these assets.
BANKS
|
Financial
Institution |
Branch |
|
Banca
Comerciala Romana |
Bucuresti |
|
Banca
Transilvania S.A. |
Bucuresti |
|
Credit
Agricole Bank Romania |
Bucuresti |
|
Emporiki
Bank Romania SA |
Bucuresti |
The subject is registered in the Electronic Archive for Secured Transactions, as having credits at:
- Banca Comerciala Romana, Bucuresti
- Banca Transilvania S.A., Bucuresti
- Credit Agricole Bank Romania, Bucuresti
- Emporiki Bank Romania SA, Bucuresti
These credits are guaranteed with cash-flow.
PAYMENT
EXPERIENCE AND CREDIT OPINION
|
Maximum
credit limit |
Credits
require securities |
|
Business
connection |
Business
connections are not denied |
|
Payment
behaviour |
So far no
complaints ,recently occasional reminders |
NEGATIVE EVENTS
According to
the information registered at the Ministry of Finance the company has overdue
debts in amount of 16.541,00 RON to the State (taxes not paid until 31.12.2014).
For this debt the enforcement procedure has been started
The company
is recorded at the Payment Incidents Bureau (CIP) with 1 incidents related to
promissory note in the period 28.04.2008 - 28.04.2015(on 08.02.2010).
There are no
related to the subject company at the Insolvency Proceedings Bulletin.
There are no
related to the subject company in our debt collection department.
The subject
company is not registered with legal proceedings opened against it, according
to Court Portal.
ASSETS
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
INTANGIBLE
FIXED ASSETS |
r1 |
2.585 |
12.935 |
2.556 |
|
TANGIBLE
FIXED ASSETS |
r2 |
2.055.198 |
2.512.817 |
2.536.164 |
|
CAPITAL
ASSETS |
r3 |
321.975 |
336.005 |
21.529 |
|
FIXED
ASSETS - TOTAL |
r4 |
2.379.758 |
2.861.757 |
2.560.249 |
|
INVENTORIES |
r5 |
1.252.056 |
1.088.922 |
2.942.748 |
|
RECEIVABLES |
r6 |
7.222.180 |
7.329.508 |
9.970.354 |
|
SHORT-TERM
INVESTMENTS |
r7 |
0 |
0 |
0 |
|
PETTY CASH
AND BANK ACCOUNTS |
r8 |
510.960 |
764.099 |
719.689 |
|
CURRENT
ASSETS - TOTAL |
r9 |
8.985.196 |
9.182.529 |
13.632.791 |
|
PREPAID
EXPENSES |
r10 |
44.184 |
345.830 |
473.650 |
|
TOTAL
ASSETS |
r11 |
11.409.138 |
12.390.116 |
16.666.690 |
LIABILITIES
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
DAT.I:
AMOUNTS THAT MUST BE PAID DURING A PERIOD OF MAX. ONE YEAR |
r12 |
9.171.445 |
11.063.517 |
16.094.610 |
|
NET
CURRENT ASSETS/NET CURRENT DEBTS |
r13 |
-197.835 |
-1.535.158 |
-1.988.169 |
|
TOTAL
ASSETS MINUS CURRENT DEBTS |
r14 |
2.181.923 |
1.326.599 |
572.080 |
|
DAT.I:
AMOUNTS THAT MUST BE PAID DURING A PERIOD EXCEEDING ONE YEAR |
r15 |
752.051 |
576.000 |
0 |
|
TOTAL
DEBTS |
r16 |
9.923.496 |
11.639.517 |
16.094.610 |
|
PROVISIONS |
r17 |
0 |
0 |
0 |
|
DEFERRED
INCOME, OF WHICH: |
r18 |
55.770 |
0 |
0 |
|
- grants
related to investments |
r19 |
0 |
0 |
0 |
|
deferred
income |
r20 |
55.770 |
0 |
0 |
|
CAPITAL,
of which: |
r21 |
100.000 |
100.000 |
100.000 |
|
subscribed
and paid up capital |
r22 |
100.000 |
100.000 |
100.000 |
|
unpaid
subscribed capital |
r23 |
0 |
0 |
0 |
|
assets and
liabilities (public sector companies) |
r24 |
0 |
0 |
0 |
|
CAPITAL
PREMIUM |
r25 |
0 |
0 |
0 |
|
REVALUATION
RESERVES |
r26 |
0 |
0 |
0 |
|
RESERVES |
r27 |
20.000 |
20.000 |
20.000 |
|
Own shares |
r28 |
0 |
0 |
0 |
|
Earnings
associated to own capital instruments |
r29 |
0 |
0 |
0 |
|
Losses
associated to own capital instruments |
r30 |
0 |
0 |
0 |
|
PROFIT OR LOSS
REPORTED Balance account C |
r31 |
890.000 |
526.637 |
250.000 |
|
PROFIT OR
LOSS REPORTED Balance account D |
r32 |
0 |
0 |
0 |
|
PROFIT OR
LOSS FINANCIAL YEAR Balance account C |
r33 |
419.872 |
103.962 |
202.080 |
|
PROFIT OR LOSS
FINANCIAL YEAR Balance account D |
r34 |
0 |
0 |
0 |
|
Profit
distribution |
r35 |
0 |
0 |
0 |
|
SHAREHOLDERS'
EQUITY - TOTAL |
r36 |
1.429.872 |
750.599 |
572.080 |
|
Public
patrimony |
r37 |
0 |
0 |
0 |
|
EQUITY-TOTAL |
r38 |
1.429.872 |
750.599 |
572.080 |
|
TOTAL
LIABILITIES |
r39 |
11.409.138 |
12.390.116 |
16.666.690 |
PROFIT AND LOSS ACCOUNT
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Net
turnover |
r89 |
23.575.552 |
17.980.530 |
19.500.300 |
|
Own work sold |
r90 |
2.944.641 |
4.115.768 |
4.944.567 |
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Income
from the sale of goods |
r91 |
20.630.911 |
13.864.762 |
14.555.733 |
|
Income
from interests made by leasing |
r92 |
0 |
0 |
0 |
|
Income
from grants related to income corresponding to net turnover |
r93 |
0 |
0 |
0 |
|
Balance account C |
r94 |
0 |
0 |
1.015.439 |
|
Balance
account D |
r95 |
0 |
0 |
0 |
|
Production
made by the entity for its own purposes and capitalized |
r96 |
0 |
0 |
0 |
|
Other
operating income |
r97 |
5.011 |
24.175 |
2.582 |
|
TOTAL
OPERATING INCOME - TOTAL |
r98 |
23.580.563 |
18.004.705 |
20.518.321 |
|
Expenses
on raw materials and consumables |
r99 |
153.542 |
167.470 |
2.940.946 |
|
Other
expenses for supplies and materials |
r100 |
76.770 |
59.172 |
128.596 |
|
Other
outsourced expenses (electricity and water) |
r101 |
13.980 |
15.894 |
21.559 |
|
Expenses
on goods |
r102 |
18.012.466 |
11.355.833 |
11.038.389 |
|
Expenses
on personnel, of which: |
r103 |
1.078.926 |
1.239.661 |
1.683.494 |
|
Salaries
and benefits |
r104 |
843.367 |
969.352 |
1.315.974 |
|
Insurance
and social security expenses |
r105 |
235.559 |
270.309 |
367.520 |
|
Adjustments
of the value of tangible and intangible fixed assets |
r106 |
237.476 |
212.388 |
202.348 |
|
Expenses |
r107 |
237.476 |
212.388 |
202.348 |
|
Income |
r108 |
0 |
0 |
0 |
|
Adjustments
of the value of current assets |
r109 |
0 |
0 |
0 |
|
Expenses |
r110 |
0 |
0 |
0 |
|
Income |
r111 |
0 |
0 |
0 |
|
Other
operating expenses |
r112 |
3.185.540 |
4.333.764 |
3.820.348 |
|
Expenses
on third party services |
r113 |
3.073.825 |
4.232.018 |
3.639.438 |
|
Expenses
on other taxes, duties and similar charges |
r114 |
12.738 |
24.568 |
20.656 |
|
Expenses
on compensations, donations and assigned assets |
r115 |
98.977 |
77.178 |
160.254 |
|
Expenses
with refinancing interest rates of leasing entities |
r116 |
0 |
0 |
0 |
|
Adjustments
of provisions |
r117 |
0 |
0 |
0 |
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Expenses |
r118 |
0 |
0 |
0 |
|
income |
r119 |
0 |
0 |
0 |
|
OPERATING
EXPENSES - TOTAL |
r120 |
22.772.663 |
17.384.914 |
19.835.680 |
|
- Profit |
r121 |
807.900 |
619.791 |
682.641 |
|
- Loss |
r122 |
0 |
0 |
0 |
|
Income
from participating interests, of which: |
r123 |
0 |
0 |
0 |
|
income
obtained from subsidiaries |
r124 |
0 |
0 |
0 |
|
Income
from other financial investments and loans which are part of intangible fixed
assets, of which: |
r125 |
0 |
0 |
0 |
|
income
obtained from subsidiaries |
r126 |
0 |
0 |
0 |
|
Income
from interest rates, of which: |
r127 |
51.716 |
19.999 |
13.238 |
|
income
obtained from subsidiaries |
r128 |
0 |
0 |
0 |
|
Other
financial income |
r129 |
356.892 |
546.720 |
544.170 |
|
FINANCIAL
INCOME - TOTAL |
r130 |
408.608 |
566.719 |
557.408 |
|
Value
adjustments in respect of capital assets and investments as current assets |
r131 |
0 |
0 |
0 |
|
Expenses |
r132 |
0 |
0 |
0 |
|
income |
r133 |
0 |
0 |
0 |
|
Interest
expenses |
r134 |
309.794 |
327.133 |
239.432 |
|
of which,
expenses in respect of subsidiaries |
r135 |
0 |
0 |
0 |
|
Other
financial expenses |
r136 |
400.691 |
713.933 |
739.504 |
|
FINANCIAL
EXPENSES - TOTAL |
r137 |
710.485 |
1.041.066 |
978.936 |
|
- Profit |
r138 |
0 |
0 |
0 |
|
- Loss |
r139 |
301.877 |
474.347 |
421.528 |
|
- Profit |
r140 |
506.023 |
145.444 |
261.113 |
|
- Loss |
r141 |
0 |
0 |
0 |
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Extraordinary
income |
r142 |
0 |
0 |
0 |
|
Extraordinary
expenses |
r143 |
0 |
0 |
0 |
|
- Profit |
r144 |
0 |
0 |
0 |
|
- Loss |
r145 |
0 |
0 |
0 |
|
TOTAL
INCOME |
r146 |
23.989.171 |
18.571.424 |
21.075.729 |
|
TOTAL
EXPENSES |
r147 |
23.483.148 |
18.425.980 |
20.814.616 |
|
- Profit |
r148 |
506.023 |
145.444 |
261.113 |
|
- Loss |
r149 |
0 |
0 |
0 |
|
Income tax |
r150 |
86.151 |
41.482 |
59.033 |
|
Other
taxes which are not recorded above |
r151 |
0 |
0 |
0 |
|
- Net
profit |
r152 |
419.872 |
103.962 |
202.080 |
|
- Net loss |
r153 |
0 |
0 |
0 |
|
Net result |
r154 |
419.872 |
103.962 |
202.080 |
ADDITIONAL INFORMATION
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Outstanding
payments-total - TOTAL |
r155 |
0 |
57.671 |
0 |
|
Accounts
payable outstanding - total, of which: - TOTAL |
r156 |
0 |
0 |
0 |
|
over 30
days - TOTAL |
r157 |
N/A |
0 |
0 |
|
over 90
days - TOTAL |
r158 |
N/A |
0 |
0 |
|
over 1
year - TOTAL |
r159 |
N/A |
0 |
0 |
|
Outstanding
payments to social security- total, of which: -
TOTAL |
r160 |
0 |
44.393 |
0 |
|
contributions
to social security payable by employers, employees and other assimilated
entities - TOTAL |
r161 |
0 |
31.878 |
0 |
|
contributions
to the social health insurance fund - TOTAL |
r162 |
0 |
10.950 |
0 |
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
contribution
to the additional state pension system - TOTAL |
r163 |
0 |
0 |
0 |
|
contributions
to the unemployment insurance fund -
TOTAL |
r164 |
0 |
1.565 |
0 |
|
other
social liabilities - TOTAL |
r165 |
0 |
0 |
0 |
|
Payments
due to special funds and other funds - TOTAL |
r166 |
0 |
0 |
0 |
|
Payments
due to other creditors - TOTAL |
r167 |
0 |
0 |
0 |
|
Taxes and
fees unpaid to the public budget on the date due - TOTAL |
r168 |
0 |
13.278 |
0 |
|
Taxes and
fees unpaid to the local budget on the date due - TOTAL |
r169 |
0 |
0 |
0 |
|
Bank credits
which were not reimbursed on the date due - total, of which: - TOTAL |
r170 |
0 |
0 |
0 |
|
back
payments after 30 days - TOTAL |
r171 |
N/A |
0 |
0 |
|
back
payments after 90 days - TOTAL |
r172 |
N/A |
0 |
0 |
|
back
payments after 1 year - TOTAL |
r173 |
N/A |
0 |
0 |
|
Past due
interest - TOTAL |
r174 |
0 |
0 |
0 |
|
Average
number of employees |
r175 |
24 |
24 |
29 |
SPECIFIC TANGIBLE FIXED
ASSETS
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Lands |
r176 |
1.369.187 |
1.684.187 |
1.684.187 |
|
Buildings |
r177 |
0 |
0 |
0 |
|
Technical
installations and machines |
r178 |
860.442 |
1.017.257 |
1.218.877 |
|
Amortization |
r179 |
N/A |
N/A |
N/A |
FINANCIAL RATIOS
|
Name |
Ref. |
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Debt Ratio |
R1 |
0,87 |
0,94 |
0,97 |
|
Quick
ratio |
R2 |
0,84 |
0,73 |
0,66 |
|
Current
ratio |
R3 |
0,98 |
0,83 |
0,85 |
|
Solvency
ratio |
R4 |
0,53 |
0,77 |
0,00 |
|
Name |
Ref. |
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Return on sales
( ROS ) |
R5 |
0,02 |
0,01 |
0,01 |
|
Return on
assets ( ROA ) |
R6 |
0,04 |
0,01 |
0,01 |
|
Return on
equity ( ROE ) |
R7 |
0,29 |
0,14 |
0,35 |
|
Operating
margin, in (%) |
R8 |
0,03 |
0,03 |
0,04 |
|
Days
supply in inventory |
R9 |
19,39 |
22,10 |
55,08 |
|
Days sales
in receivables |
R10 |
111,81 |
148,79 |
186,62 |
|
Days
purchase in payables |
R11 |
141,99 |
224,59 |
301,25 |
|
SALES TO
TOTAL ASSETS |
R12 |
2,07 |
1,45 |
1,17 |
|
OPERATING
RESULT/TOTAL ASSETS |
R13 |
0,07 |
0,05 |
0,04 |
|
CASH RATIO |
R14 |
0,06 |
0,07 |
0,04 |
|
Equity as
% of total assets |
R15 |
12,53 |
6,06 |
3,43 |
|
Fixed
assets as % of total assets |
R16 |
20,86 |
23,10 |
15,36 |
|
Receivables
as % of current assets |
R17 |
80,38 |
79,82 |
73,14 |
|
Net
working capital |
R18 |
357,70 |
302,95 |
310,25 |
EXCHANGE RATE
31/12/2011
USD 1,-= RON
3,05
EUR 1,-= RON
4,24
31/12/2012
USD 1,-= RON
3,47
EUR 1,-= RON
4,46
31/12/2013
USD 1,-= RON
3,33
EUR 1,-= RON
4,42
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.