|
Report No. : |
348662 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASPECO BELGIUM NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-BUS 153 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
02.02.1999 |
|
|
|
|
Com. Reg. No.: |
465442820 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 |
|
Business number |
465442820 |
|
Branche Unit Number |
2090963177 |
|
Company name |
ASPECO BELGIUM NV |
|
Address |
HOVENIERSSTRAAT
30-BUS 153 |
|
|
2018 ANTWERPEN |
|
Number of staff |
8 |
|
Date of
establishment |
02/02/1999 |
|
Telephone number |
034011000 |
|
Fax number |
- |
|
Company name |
Company Number |
|
ASPECO BELGIUM NV |
465442820 |
The business was established over
16 years ago.
The business has 8 employees.
The business is part of a group.
The business has been at the
address for over 18 months.
Pre-tax profits increased by 35%
compared to the previous trading period.
The business saw a decrease in
their Cash Balance of 66% during the
latest trading period.
Turnover in the latest trading
period increased 67% on the previous
trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2014 |
193,950,762 |
191,819 |
10,571,445 |
30,010,845 |
|
31/12/2013 |
115,765,125 |
142,051 |
9,186,339 |
26,435,242 |
|
31/03/2013 |
174,874,575 |
156,537 |
9,788,168 |
28,251,633 |
|
Accounts |
|
|
|
|
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2014 |
66,204,631 |
8 |
8,734,234 |
418,343 |
|
31/12/2013 |
72,543,820 |
8 |
7,689,646 |
279,440 |
|
31/03/2013 |
98,448,211 |
9 |
8,281,402 |
372,412 |
Profitability
Liquidity
Net worth
|
Past payments |
|
Payment expectation
days |
16.55 |
|
Industry average
payment |
192.91 |
Industry average
day sales |
194.94 |
|
expectation days |
|
outstanding |
|
|
Day sales
outstanding |
78.40 |
|
|
BANKRUPTCY
DETAILS
|
Court action type |
no |
PROTESTED
BILLS
|
Bill amount |
- |
NSSO
DETAILS
|
Date of summons |
- |
|
Business number |
465442820 |
Company name |
ASPECO BELGIUM NV |
|
Fax number |
- |
Date founded |
02/02/1999 |
|
Company status |
active |
Company type |
Public limited
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.0465.442.820
Check VAT number |
|
Belgian Bullettin
of Acts Publications |
moniteur belge |
|
|
Contractor
details
|
Registered contractor |
- |
|
number |
|
|
Contractor description |
- |
|
Date struck
off register |
|
|
Personnel (NSSO classification) |
|
|
Code |
- |
|
Description |
- |
|
Joint Industrial Committee (JIC) |
|
|
JIC Code |
218 |
|
Description |
Additional national
joint committee for the employees |
|
category |
|
|
JIC Code |
324 |
|
Description |
Joint committee
for the industry and the trade in
diamant |
|
category |
|
|
Significant Events |
|
|
Event Date |
10/10/2014 |
|
Event Description |
|
|
Event Details |
t hun
voorzitter en gedelegeerd bestuurder te
benoemen: Shah Bela'. |
|
|
|
|
Event Date |
10/10/2014 |
|
Event Description |
|
|
Event Details |
Rectificatie akte
dd 23-7-2013: de tweemaal voorkomende
tekst on de 'V'en 'VI' 'tot hun
voorzitter en |
|
|
gedelegeerd bestuurder
te benoemen:'Shah Bela' wordt geschrapt
en vervangen door 'Met |
|
|
eenparigheid van
stemmen besluiten de bestuurders to |
|
Event Date |
02/02/1999 |
|
Event Description |
Legal creation |
|
Event Details |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
Annual accounts |
31-12-2014 |
% |
31-12-2013 |
% |
31-03-2013 |
% |
31-03-2012 |
% |
31-03-2011 |
|
Weeks |
52 |
|
39 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
1,032,660 |
2.37 |
1,008,710 |
-16.54 |
1,208,667 |
-14.74 |
1,417,654 |
-8.25 |
1,545,154 |
|
Intangible fixed
assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed
assets |
1,026,282 |
2.31 |
1,003,095 |
-16.58 |
1,202,408 |
-12.90 |
1,380,503 |
-8.59 |
1,510,227 |
|
Land & building |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant &
machinery |
525,477 |
5.87 |
496,363 |
-20.93 |
627,758 |
-10.81 |
703,822 |
-7.76 |
763,023 |
|
Furniture &
Vehicles |
99,511 |
95.13 |
50,997 |
4510 |
1,106 |
-94.74 |
21,018 |
-32.92 |
31,333 |
|
Leasing &
Other Similar Rights |
401,293 |
-11.95 |
455,735 |
-20.54 |
573,544 |
-12.52 |
655,664 |
-8.41 |
715,871 |
|
Other tangible
assets |
1 |
- |
0 |
- |
0 |
0 |
-1 |
- |
0 |
|
Financial fixed
assets |
6,378 |
13.59 |
5,615 |
-10.29 |
6,259 |
-83.15 |
37,150 |
6.36 |
34,928 |
|
Total current
assets |
65,171,971 |
-8.90 |
71,535,110 |
-26.43 |
97,239,544 |
-12.52 |
111,152,388 |
90.46 |
58,358,555 |
|
Inventories |
21,677,162 |
24.50 |
17,412,049 |
-26.42 |
23,664,079 |
-21.41 |
30,112,310 |
88.33 |
15,989,449 |
|
Raw materials
& consumables |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
21,677,162 |
24.50 |
17,412,049 |
-26.42 |
23,664,079 |
-21.41 |
30,112,310 |
88.33 |
15,989,449 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
41,656,987 |
-17.97 |
50,779,560 |
-25.06 |
67,757,769 |
-14.28 |
79,047,059 |
108 |
37,942,973 |
|
Other amounts
receivable |
828,814 |
29.79 |
638,569 |
13.76 |
561,351 |
-37.73 |
901,516 |
6.74 |
844,605 |
|
Cash |
890,177 |
-66.13 |
2,628,279 |
-49.37 |
5,191,222 |
408 |
1,021,431 |
-71.00 |
3,522,258 |
|
Miscellaneous
current assets |
107,076 |
39.69 |
76,652 |
17.70 |
65,123 |
-7.06 |
70,072 |
18.23 |
59,270 |
|
Total Assets |
66,204,631 |
-8.74 |
72,543,820 |
-26.31 |
98,448,211 |
-12.54 |
112,570,042 |
87.92 |
59,903,709 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders
equity |
10,571,445 |
15.08 |
9,186,339 |
-6.15 |
9,788,168 |
5.65 |
9,264,871 |
6.91 |
8,665,745 |
|
Issued share
capital |
8,734,234 |
13.58 |
7,689,646 |
-7.15 |
8,281,402 |
4.30 |
7,939,923 |
6.36 |
7,464,821 |
|
Share premium
account |
306,893 |
13.58 |
270,190 |
-7.15 |
290,982 |
4.30 |
278,984 |
6.36 |
262,290 |
|
Revaluation reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Reserves |
1,530,318 |
24.77 |
1,226,503 |
0.88 |
1,215,784 |
16.24 |
1,045,964 |
11.43 |
938,634 |
|
Provisions for
Liabilities & |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Charges |
|
|
|
|
|
|
|
|
|
|
Deffered taxes |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Creditors |
55,633,186 |
-12.19 |
63,357,481 |
-28.54 |
88,660,042 |
-14.18 |
103,305,172 |
101 |
51,237,964 |
|
Other long
term loans |
6,306,140 |
8.99 |
5,785,893 |
-7.29 |
6,240,651 |
574 |
925,588 |
-14.88 |
1,087,336 |
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long
term liabilities |
14,165,920 |
13.58 |
12,471,720 |
-7.15 |
13,431,481 |
-25.87 |
18,118,539 |
6.36 |
17,034,380 |
|
Total long
term debts |
20,472,060 |
12.13 |
18,257,613 |
-7.19 |
19,672,132 |
3.30 |
19,044,127 |
5.09 |
18,121,716 |
|
Current portion
of long term debt |
168,064 |
5.42 |
159,429 |
5.43 |
151,217 |
0.06 |
151,130 |
6.47 |
141,946 |
|
Financial debts |
26,054,112 |
-35.91 |
40,654,035 |
-31.61 |
59,446,862 |
15.70 |
51,378,787 |
149 |
20,611,394 |
|
Trade creditors |
8,681,963 |
110 |
4,120,476 |
-55.19 |
9,196,247 |
-71.76 |
32,563,021 |
166 |
12,226,421 |
|
Amounts Payable
for Taxes, |
121,424 |
6.82 |
113,667 |
-14.62 |
133,136 |
4.42 |
127,502 |
14.61 |
111,246 |
|
Remuneration &
Social Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous
current liabilities |
135,563 |
159 |
52,261 |
-13.55 |
60,449 |
48.87 |
40,604 |
60.87 |
25,241 |
|
Total current
liabilities |
35,161,126 |
-22.04 |
45,099,868 |
-34.63 |
68,987,911 |
-18.13 |
84,261,044 |
154 |
33,116,248 |
|
Total Liabilities |
66,204,631 |
-8.74 |
72,543,820 |
-26.31 |
98,448,211 |
-12.54 |
112,570,042 |
87.92 |
59,903,709 |
|
Ratio analysis |
|
|
|
|
|
|
|
|
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
0.10 |
-16.67 |
0.12 |
33.33 |
0.09 |
200 |
0.03 |
-75.00 |
0.12 |
|
Return on
capital employed |
0.62 |
19.23 |
0.52 |
-1.89 |
0.53 |
152 |
0.21 |
-53.33 |
0.45 |
|
Return on
total assets employed |
0.29 |
45.00 |
0.20 |
25.00 |
0.16 |
220 |
0.05 |
-75.00 |
0.20 |
|
Return on net
assets employed |
1.81 |
16.77 |
1.55 |
-3.12 |
1.60 |
153 |
0.63 |
-54.68 |
1.39 |
|
Sales / net
working capital |
6.46 |
47.49 |
4.38 |
-29.24 |
6.19 |
-11.44 |
6.99 |
68.43 |
4.15 |
|
Stock turnover
ratio |
11.18 |
-25.66 |
15.04 |
11.16 |
13.53 |
-15.54 |
16.02 |
4.91 |
15.27 |
|
Creditor days |
16.55 |
24.34 |
13.31 |
-31.74 |
19.50 |
-69.47 |
63.88 |
47.53 |
43.30 |
|
Debtor days |
78.40 |
-51.03 |
160.10 |
13.21 |
141.42 |
-7.86 |
153.48 |
16.04 |
132.26 |
|
SHORT TERM
STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.85 |
16.35 |
1.59 |
12.77 |
1.41 |
6.82 |
1.32 |
-25.00 |
1.76 |
|
Liquidity ratio
/ acid ratio |
1.24 |
3.33 |
1.20 |
12.15 |
1.07 |
11.46 |
0.96 |
-25.00 |
1.28 |
|
Current debt ratio |
3.33 |
-32.18 |
4.91 |
-30.35 |
7.05 |
-22.44 |
9.09 |
137 |
3.82 |
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
418,343 |
49.71 |
279,440 |
-24.96 |
372,412 |
25.95 |
295,693 |
-11.84 |
335,408 |
|
Net worth |
10,571,445 |
15.08 |
9,186,339 |
-6.15 |
9,788,168 |
5.65 |
9,264,871 |
6.91 |
8,665,745 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
307.70 |
-39.34 |
507.27 |
-24.59 |
672.64 |
18.80 |
566.18 |
124 |
252.03 |
|
Equity in
percentage |
15.97 |
26.15 |
12.66 |
27.36 |
9.94 |
20.78 |
8.23 |
-43.12 |
14.47 |
|
Total debt ratio |
5.26 |
-23.77 |
6.90 |
-23.84 |
9.06 |
-18.74 |
11.15 |
88.66 |
5.91 |
|
Working capital |
30,010,845 |
13.53 |
26,435,242 |
-6.43 |
28,251,633 |
5.06 |
26,891,344 |
6.53 |
25,242,307 |
|
Profit & loss |
|
|
|
|
|
|
|
|
|
|
Operating Income |
194,282,924 |
67.77 |
115,801,673 |
-33.79 |
174,904,577 |
-7.08 |
188,235,653 |
79.74 |
104,728,390 |
|
Turnover |
193,950,762 |
67.54 |
115,765,125 |
-33.80 |
174,874,575 |
-6.98 |
187,990,869 |
79.53 |
104,711,795 |
|
Total operating
expenses |
191,438,310 |
69.39 |
113,015,921 |
-34.33 |
172,100,603 |
-7.51 |
186,067,062 |
80.52 |
103,070,187 |
|
Gross Operating
Margin |
- |
- |
- |
- |
|
- |
- |
- |
- |
|
Operating Charges |
191,770,472 |
69.63 |
113,052,469 |
-34.32 |
172,130,606 |
-7.61 |
186,311,846 |
80.73 |
103,086,781 |
|
Employee costs |
467,283 |
41.46 |
330,324 |
-33.52 |
496,856 |
-8.12 |
540,755 |
15.22 |
469,329 |
|
Wages and salary |
356,739 |
42.66 |
250,071 |
-34.35 |
380,918 |
-6.85 |
408,950 |
14.88 |
355,982 |
|
Employee pension
costs |
- |
- |
- |
- |
|
- |
- |
- |
- |
|
Social security
contributions |
95,690 |
38.30 |
69,188 |
-31.40 |
100,860 |
-8.05 |
109,694 |
10.63 |
99,150 |
|
Other employee
costs |
14,854 |
34.24 |
11,065 |
-26.61 |
15,078 |
-31.81 |
22,111 |
55.74 |
14,197 |
|
Director remuneration |
- |
- |
- |
- |
|
- |
- |
- |
- |
|
Amortization and |
281,140 |
54.60 |
181,846 |
-26.55 |
247,577 |
-0.21 |
248,103 |
1.31 |
244,890 |
|
depreciation |
|
|
|
|
|
|
|
|
|
|
Operating result |
2,512,452 |
-8.61 |
2,749,204 |
-0.89 |
2,773,972 |
44.19 |
1,923,807 |
17.19 |
1,641,608 |
|
Total financial
income |
752,203 |
707 |
93,204 |
-80.67 |
482,157 |
-21.91 |
617,421 |
26.27 |
488,987 |
|
Total financial
expenses |
3,072,836 |
13.79 |
2,700,357 |
-12.88 |
3,099,592 |
24.85 |
2,482,655 |
23.51 |
2,010,039 |
|
Results on ordinary |
191,819 |
35.04 |
142,051 |
-9.25 |
156,537 |
167 |
58,573 |
-51.41 |
120,556 |
|
operations before
taxation |
|
|
|
|
|
|
|
|
|
|
Extraordinary Income |
- |
- |
- |
- |
6,250 |
-82.32 |
35,342 |
- |
- |
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
- |
- |
7,143 |
|
Extraordinary items |
0 |
- |
0 |
-100 |
6,250 |
-82.32 |
35,342 |
494 |
-7,143 |
|
Results for
the Year Before |
191,819 |
35.04 |
142,051 |
-12.74 |
162,787 |
73.33 |
93,915 |
-17.19 |
113,413 |
|
Taxation |
|
|
|
|
|
|
|
|
|
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
54,616 |
22.85 |
44,457 |
17.14 |
37,952 |
-18.07 |
46,324 |
102 |
22,895 |
|
Results on ordinary |
137,203 |
40.59 |
97,594 |
-17.70 |
118,585 |
868 |
12,249 |
-87.46 |
97,661 |
|
operations after
taxation |
|
|
|
|
|
|
|
|
|
|
Net result |
137,203 |
40.59 |
97,594 |
-21.82 |
124,835 |
162 |
47,590 |
-47.42 |
90,518 |
|
Profit (Loss)
for the Year to be appropiated |
137,203 |
40.59 |
97,594 |
-21.82 |
124,835 |
162 |
47,590 |
-47.42 |
90,518 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social Balance Sheet Details |
|
|
Social Balance Sheet |
Total |
|
During the
reporting year |
|
|
ended 31-12-2014 |
|
|
Full-time Employees |
7 |
|
Part-time Employees |
2 |
|
Total Fte Employees |
8 |
|
Number of
hours worked |
|
|
Full-time Employees |
11,866 |
|
Part-time Employees |
2,496 |
|
Total |
14,362 |
|
Personnel Charges |
|
|
Full-time Employees |
403,509 |
|
Part-time Employees |
63,774 |
|
Total |
467,283 |
|
Benefits In
Addition To Wages |
- |
|
During the
previous reporting year |
|
|
Average number
employees in Fte |
9 |
|
Actual working
hours |
11,562 |
|
Personnel Charges |
375,196 |
|
Benefits In
Addition To Wages |
4,876 |
|
Type of Contract |
Full-Time |
|
|
Part-Time |
|
|
Total Fte |
|
|
|
Unlimited Duration |
7 |
|
|
2 |
|
|
8 |
|
|
|
Contracts |
|
|
|
|
|
|
|
|
|
|
Limited Duration
Contracts |
- |
|
|
- |
|
|
- |
|
|
|
Contracts For
Specific Work |
- |
|
|
- |
|
|
- |
|
|
|
Contracts Regarding
Substitution |
- |
|
|
- |
|
|
- |
|
|
Gender
and Education Level
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy education |
5 |
- |
5 |
|
Higher education
(non |
- |
- |
- |
|
university) |
|
|
|
|
Higher education |
- |
- |
- |
|
(university) |
|
|
|
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy education |
2 |
2 |
3 |
|
Higher education
(non |
- |
- |
- |
|
university) |
|
|
|
|
Higher education |
- |
- |
- |
|
(university) |
|
|
|
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
5 |
2 |
6 |
|
Blue collar worker |
2 |
- |
2 |
|
Other |
- |
- |
- |
|
Temporary personnel |
|
Total |
|
|
Average number of temporary staff |
|
- |
|
|
Actual working
hours |
|
- |
|
|
Cost of
temporary staff |
|
- |
|
|
New staff and
leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
- |
- |
- |
|
Leavers |
- |
- |
- |
|
Total of formal continuing
vocational training initiatives |
|
|
|
for workers
paid by the employer |
Male |
Female |
|
Number of employees |
- |
- |
|
Number of
training hours |
- |
- |
|
Net costs for
enterprise |
- |
- |
|
Total of less
formal and informal continuing vocational |
|
|
|
training
initiatives for workers paid by the
employer |
Male |
Female |
|
Number of employees |
- |
- |
|
Number of
training hours |
- |
- |
|
Net costs for
enterprise |
- |
- |
|
Total of
initial training initiatives at the
expense of the |
|
|
|
employer |
Male |
Female |
|
Number of employees |
- |
- |
|
Number of
training hours |
- |
- |
|
Net costs for
enterprise |
- |
- |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of
diamonds and other precious stones |
|
Suspension of payments /
moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment expectations |
|
|
Payment expectation
days |
16.55 |
|
Day sales
outstanding |
78.40 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of
diamonds and other precious stones |
|
Industry average
payment expectation days |
192.91 |
|
Industry average
day sales outstanding |
194.94 |
Industry
quartile analysis Payment expectations
|
Company result |
16.55 |
|
Lower |
134.78 |
|
Median |
60.30 |
|
Upper |
28.62 |
|
Day sales outstanding |
|
|
Company result |
78.40 |
|
Lower |
131.59 |
|
Median |
85.12 |
|
Upper |
47.22 |
|
Summary |
|
|
|
|
|
Group -
Number of Companies |
2 |
|
|
|
|
Linkages -
Number of Companies |
0 |
|
|
|
|
Number of Countries |
0 |
|
|
|
|
Group Structure |
|
|
|
Company name |
Number |
Latest |
|
|
|
financials |
|
- ASPECO BELGIUM NV |
465442820 |
31-12-2014 |
|
- - KG CREATIONS |
491869640 |
31-03-2010 |
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
Companies
that match this address
no Companies Match this address
Summary
|
Group -
Number of Companies |
2 |
|
Linkages -
Number of Companies |
0 |
|
Number of Countries |
0 |
There is no data for this company
There is no data for this
company
There is no data for this
company
Current
director details
|
Position |
Managing Director |
|
Start Date |
01/07/2011 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Name |
Bela Shah |
|
Position |
Director |
|
Start Date |
17/12/2004 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Name |
Nirav Shah |
|
Position |
Director |
|
Start Date |
01/10/2015 |
|
Street |
|
|
Post code |
|
|
Country |
|
|
Position |
Authorised agent |
|
Start Date |
01/04/2015 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Name |
Nitinkumar Shah |
|
Position |
Director |
|
Start Date |
01/04/2008 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Former director details |
|
|
Name |
Bela Shah |
|
Position |
Managing Director |
|
Start Date |
01/01/2008 |
|
End Date |
01/09/2009 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Name |
Nitinkumar Shah |
|
Position |
Managing Director |
|
Start Date |
17/12/2004 |
|
End Date |
31/12/2007 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Position |
Director |
|
Start Date |
17/12/2004 |
|
End Date |
31/12/2007 |
|
Street |
9 DENNENLAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Name |
RASHMIKANT SHAH |
|
Position |
Director |
|
Start Date |
01/04/2007 |
|
End Date |
30/09/2015 |
|
Street |
|
|
Post code |
|
|
Country |
India |
|
|
|
|
Name |
YOGESH SHAH |
|
Position |
Director |
|
Start Date |
01/01/2008 |
|
End Date |
30/09/2015 |
|
Street |
|
|
Post code |
|
|
Country |
India |
|
|
|
|
Name |
Bhavesh Morakhia |
|
Position |
Director |
|
Start Date |
17/12/2004 |
|
End Date |
31/03/2007 |
|
Street |
|
|
Post code |
|
|
Country |
|
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in February
2013. A senior executive of GJEPC said, “Export of cut and polished diamonds
started falling month-wise after the imposition of 2 % of import duty on the
polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
UK Pound |
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TRU |
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.