MIRA INFORM REPORT

 

 

Report No. :

348536

Report Date :

03.11.2015

 

IDENTIFICATION DETAILS

 

Name :

MILLENNIUM STAR BVBA

 

 

Registered Office :

Pelikaanstraat 62 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

10.02.2000

 

 

Com. Reg. No.:

471155427

 

 

Legal Form :

Private limited liability company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

Not Available

 

 

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 :

Slow

 

 

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)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BELGIUM ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium's high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

 

 

Company summary

 

Business number                     471155427

Branche Unit Number               2115900392

Company name                        MILLENNIUM STAR BVBA

Address                                   PELIKAANSTRAAT 62

2018 ANTWERPEN

Number of staff                        --

Date of establishment               10/02/2000

Telephone number                   032253767

Fax number                              --

 

 

Commentary

 

The business was established over 15 years ago.

No employees are recorded for this business.

The business has been at the address for over 4 years.

Operating Result in the latest trading period increased 55% on the previous trading period.

Pre-tax profits increased by 34% compared to the previous trading period.

The business saw an increase in their Cash Balance of 58% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

 

19,524

130,881

116,899

31/12/2013

 

14,471

115,413

98,871

31/12/2012

 

33,530

100,527

83,167

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

2,133,438

-

19,000

18,028

31/12/2013

2,219,446

-

19,000

17,153

31/12/2012

3,304,932

-

19,000

24,350

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

192.87

Industry  average  day  sales

194.87

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                –

 

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business  number

471155427

Company  name

MILLENNIUM  STAR  BVBA

Fax  number

-

Date  founded

10/02/2000

Company  status

active

Company  type

Private  limited  liability

 

 

 

company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0471.155.427  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

Significant  Events

 

Event  Date

14/02/2011

Event  Description

Registered  as  a  basic  management  company

Event  Details

 

 

 

Event  Date

10/02/2000

Event  Description

Legal  creation

Event  Details

 

 

 

Company accounts

 

ASSETS

 

Annual  accounts

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

13,982

-15.47

16,542

-4.71

17,361

449

3,158

5.50

2,993

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

11,982

-17.60

14,542

-5.33

15,361

1226

1,158

16.57

993

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

10,584

-14.17

12,332

-12.41

14,080

-

0

-

0

Furniture  &  Vehicles

1,398

-36.74

2,210

72.61

1,280

10.58

1,158

16.57

993

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

2,000

0

2,000

0

2,000

0

2,000

0

2,000

Total  current  assets

2,119,455

-3.79

2,202,904

-32.99

3,287,572

49.06

2,205,582

21.14

1,820,741

Inventories

514,754

101

255,725

-59.29

628,139

456

112,894

-78.23

518,599

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

514,754

101

255,725

-59.29

628,139

456

112,894

-78.23

518,599

Trade  debtors

1,147,611

-30.60

1,653,587

-17.95

2,015,253

6.33

1,895,324

67.16

1,133,844

Other  amounts  receivable

30,787

31.59

23,396

41.08

16,583

308

4,055

-6.41

4,333

Cash

422,013

58.28

266,626

-57.29

624,246

227

190,647

18.19

161,310

Miscellaneous  current  assets

4,291

20.19

3,570

6.58

3,350

25.80

2,663

0.33

2,654

Total  Assets

2,133,438

-3.88

2,219,446

-32.84

3,304,932

49.63

2,208,740

21.11

1,823,734

 

 

LIABILITIES

 

Total  shareholders  equity

130,881

13.40

115,413

14.81

100,527

29.18

77,817

50.39

51,744

Issued  share  capital

19,000

0

19,000

0

19,000

0

19,000

0

19,000

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

111,881

16.04

96,413

18.26

81,527

38.61

58,817

79.63

32,744

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

2,002,557

-4.82

2,104,033

-34.34

3,204,405

50.38

2,130,923

20.26

1,771,989

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

0

-

0

-

0

-100

4,258

-32.69

6,326

Trade  creditors

1,779,531

-5.95

1,892,053

-35.79

2,946,846

58.44

1,859,865

22.19

1,522,136

Amounts  Payable  for  Taxes,

21,771

75.84

12,381

12.94

10,962

-31.32

15,963

6104

257

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

201,254

0.83

199,599

-19.06

246,597

-1.69

250,837

3.11

243,270

Total  current  liabilities

2,002,557

-4.82

2,104,033

-34.34

3,204,405

50.38

2,130,923

20.26

1,771,989

Total  Liabilities

2,133,438

-3.88

2,219,446

-32.84

3,304,932

49.63

2,208,740

21.11

1,823,734

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

14.92

18.98

12.54

-62.40

33.35

-27.18

45.80

90.60

24.03

Return  on  total  assets  employed

0.92

41.54

0.65

-35.64

1.01

-37.27

1.61

136

0.68

Return  on  net  assets  employed

14.92

18.98

12.54

-62.40

33.35

-27.18

45.80

90.60

24.03

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.06

0.95

1.05

1.94

1.03

-0.96

1.04

0.97

1.03

Liquidity  ratio  /  acid  ratio

0.80

-13.98

0.93

12.05

0.83

-15.31

0.98

34.25

0.73

Current  debt  ratio

15.30

-16.07

18.23

-42.82

31.88

16.44

27.38

-20.04

34.24

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

18,028

5.10

17,153

-29.56

24,350

-7.03

26,193

110

12,441

Net  worth

130,881

13.40

115,413

14.81

100,527

29.18

77,817

50.39

51,744

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

5.47

-55.27

12.23

Equity  in  percentage

6.13

17.88

5.20

71.05

3.04

-13.64

3.52

23.94

2.84

Total  debt  ratio

15.30

-16.07

18.23

-42.82

31.88

16.44

27.38

-20.04

34.24

Working  capital

116,899

18.23

98,871

18.88

83,167

11.39

74,660

53.14

48,751

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

32,397

-76.26

136,489

-15.53

161,585

287

41,716

40.12

29,771

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

-

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

2,560

12.91

2,267

38.19

1,641

1270

120

1647

7

Operating  result

27,700

55.19

17,849

-53.21

38,145

-4.14

39,794

162

15,164

Total  financial  income

495

73.91

285

218815

0

-99

314

-58.05

749

Total  financial  expenses

8,671

136

3,663

-20.62

4,615

3.33

4,466

28.36

3,479

Results  on  ordinary  operations  before  taxation

19,524

34.92

14,471

-56.84

33,530

-5.93

35,643

186

12,434

Extraordinary  Income

-

-

4,322

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

-

-

4,322

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

19,524

3.89

18,793

-43.95

33,530

-5.93

35,643

186

12,434

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

4,056

3.82

3,907

-63.89

10,821

13.07

9,570

-

-

Results  on  ordinary  operations  after  taxation

15,468

46.42

10,564

-53.48

22,710

-12.90

26,073

109

12,434

Net  result

15,468

3.91

14,886

-34.45

22,710

-12.90

26,073

109

12,434

Profit  (Loss)  for  the  Year  to  be  appropiated

15,468

3.91

14,886

-34.45

22,710

-12.90

26,073

109

12,434

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit

68.88

Industry average credit limit

225269.01

 

 

Payment Information

 

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

 

Amount

-

Details

-

 

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

-

Day  sales  outstanding

-

 

 

INDUSTRY  COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

192.87

Industry average day sales

outstanding

194.87

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

Company result            --

Lower                           134.78

Median                         60.30

Upper                           28.46

 

 

DAY SALES OUTSTANDING

 

Company result            --

Lower                           131.59

Median                         85.12

Upper                           47.22

 

 

Shareholder Details

 

SUMMARY

Group - Number of Companies             0

Linkages - Number of Companies        0

Number of Countries                            0

 

 

GROUP STRUCTURE

No group structure for this company.

 

MINORITY SHAREHOLDERS

No minority shareholders found

 

MINORITY INTERESTS

No minority interests found

 

 

Linked Companies

 

SUMMARY

 

Group - Number of Companies 0

Linkages - Number of Companies 0

Number of Countries 0

 

SUMMONS

There is no data for this company

 

PROTESTED BILLS

There is no data for this company

 

BANKRUPTCY AND OTHER LEGAL EVENTS

There is no data for this company

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Position

Manager

Start  Date

10/02/2000

Street

21 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Jayul  Shah

 

 

FORMER DIRECTOR DETAILS

 

-----

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.48

UK Pound

1

Rs.101.06

Euro

1

Rs.72.22

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

 

 

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.