|
Report No. : |
351279 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ZLABELS GMBH |
|
|
|
|
Registered Office : |
Neue Bahnhofstr. 11-17, D 10245 Berlin |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
16.11.2009 |
|
|
|
|
Com. Reg. No.: |
HRB 123975 B |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture of other wearing apparel and accessories n.e.c. ·
Wholesale of textiles ·
Wholesale of footwear ·
Retail sale of clothing |
|
|
|
|
No. of Employees : |
256 |
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 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) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GERMANY - ECONOMIC
OVERVIEW
The German economy - the fifth largest economy in the world
in PPP terms and Europe's largest - is a leading exporter of machinery,
vehicles, chemicals, and household equipment and benefits from a highly skilled
labor force. Like its Western European neighbors, Germany faces significant
demographic challenges to sustained long-term growth. Low fertility rates and
declining net immigration are increasing pressure on the country's social
welfare system and necessitate structural reforms. Reforms launched by the
government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to
address chronically high unemployment and low average growth, contributed to
strong growth and falling unemployment. These advances, as well as a government
subsidized, reduced working hour scheme, help explain the relatively modest
increase in unemployment during the 2008-09 recession - the deepest since World
War II - and its decrease to 5.2% in 2014. The new German government introduced
a minimum wage of about $11.60 (8.50 euros) per hour to take effect in 2015.
Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts
introduced in Chancellor Angela MERKEL's second term increased Germany's total
budget deficit - including federal, state, and municipal - to 4.1% in 2010, but
slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and
in 2012 Germany reached a budget surplus of 0.1%. The budget was essentially in
balance in 2014. A constitutional amendment approved in 2009 limits the federal
government to structural deficits of no more than 0.35% of GDP per annum as of
2016 though the target was already reached in 2012. The German economy suffers
from low levels of investment, and a government plan to invest 15 billion euros
2016-18, largely in infrastructure, is intended to spur needed private
investment. Following the March 2011 Fukushima nuclear disaster, Chancellor
Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear
reactors would be shut down immediately and the remaining plants would close by
2022. Germany plans to replace nuclear power with renewable energy, which
accounted for 27.8% of gross electricity consumption in 2014, up from 9% in
2000. Before the shutdown of the eight reactors, Germany relied on nuclear power
for 23% of its electricity generating capacity and 46% of its base-load
electricity production. Extremely low inflation, caused largely by low global
energy prices and a weak euro, are expected to boost German GDP growth in 2015.
|
Source
: CIA |
ZLABELS
GMBH
Company Status: active
Neue Bahnhofstr. 11-17
D 10245 Berlin
Telephone:030/200088520
Telefax: 030/40500736
Homepage: www.zlabels.de
E-mail: info@zlabels.de
VAT
no.: DE270699778
Tax
ID number: 37/125/21776
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 16.11.2009
Shareholders'
agreement: 16.11.2009
Registered on: 06.01.2010
Commercial Register: Local court 14057 Berlin
under: HRB
123975 B
EUR 25,000.00
Shareholder:
Zalando SE
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: European
Company (SE)
Share capital: EUR
246,797,718.00
Share: EUR 25,000.00
Registered on: 28.05.2014
Reg. data: 14057 Berlin, HRB 158855 B
Manager:
Christian Thomas Baier
Cunostr. 69a
D 14199 Berlin
born: 29.12.1979
Manager:
David Schneider
Fürstenberger Str. 12
D 10435 Berlin
having sole power of
representation
born: 29.07.1982
Profession: Businessman
Marital status: unknown
Manager:
Robert Gentz
Leipziger Str. 103
D 10117 Berlin
having sole power of
representation
born: 24.09.1983
Profession: Businessman
Marital status: unknown
Manager:
Jan Wilmking
Arkonaplatz 10
D 10435 Berlin
born: 31.01.1979
Proxy:
Rubin Ritter
Anklamer Str. 28
D 10115 Berlin
having sole power of
representation
born: 25.01.1982
Profession: Businessman
Marital status: unknown
Further functions/participations of David
Schneider (Manager)
Limited partner:
La Plata Real Estate GmbH
& Co. KG
Am Schweizer Garten 78
D 10407 Berlin
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 1,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 04.11.2013
Reg. data: 14057 Berlin, HRA 48809 B
Limited partner:
Maronen Grundstücks GmbH
& Co. KG
Am Schweizer Garten 78
D 10407 Berlin
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 2,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 02.12.2013
Reg. data: 14057 Berlin, HRA 48925 B
Shareholder:
La Plata GmbH
Willy-Brandt-Platz 2
D 12529 Schönefeld
Legal form: Private
limited company
Share capital: EUR 26,000.00
Share: EUR 26,000.00
Registered
on: 29.01.2013
Reg. data: 03044 Cottbus, HRB 10922 CB
Manager:
zOutlet Berlin GmbH
Köpenicker Str. 20
D 10997 Berlin
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 14.10.2013
Reg. data: 14057 Berlin, HRB 153374 B
Manager:
zOutlet Frankfurt GmbH
Leipziger Str. 41-43
D 60487 Frankfurt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 16.10.2013
Reg. data: 60313 Frankfurt, HRB 97686
Manager:
Maronen Grundstücks Verwaltungs GmbH
Am Schweizer Garten 78
D 10407 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 16.10.2013
Reg. data: 14057 Berlin, HRB 153428 B
Manager:
La Plata GmbH
Willy-Brandt-Platz 2
D 12529 Schönefeld
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 29.01.2013
Reg. data: 03044 Cottbus, HRB 10922 CB
Member of the Board of Directors:
Zalando SE
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: European
Company (SE)
Share capital: EUR
246,797,718.00
Registered
on: 28.05.2014
Reg. data: 14057 Berlin, HRB 158855 B
Further functions/participations of Robert
Gentz (Manager)
Limited partner:
Maronen Grundstücks
GmbH & Co. KG
Am Schweizer Garten 78
D 10407 Berlin
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 2,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 02.12.2013
Reg. data: 14057 Berlin, HRA 48925 B
Limited partner:
Manoa Real Estate GmbH
& Co. KG
Auguststr. 62
D 10117 Berlin
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 1,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 01.07.2013
Reg. data: 14057 Berlin, HRA 48344 B
Shareholder:
Celeus GmbH
Willy-Brandt-Platz 2
D 12529 Schönefeld
Legal form:
Private limited company
Share capital: EUR 26,000.00
Share: EUR 26,000.00
Registered
on: 29.01.2013
Reg. data: 03044 Cottbus, HRB 10921 CB
Shareholder:
GeRo Fashion Commerce UG
(haftungsbeschränkt)
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR 1.00
Share: EUR 1.00
Registered
on: 19.10.2010
Reg. data: 14057 Berlin, HRB 129735 B
Manager:
Manoa Real Estate
Verwaltungs GmbH
Auguststr. 62
D 10117 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 29.05.2013
Reg. data: 14057 Berlin, HRB 150183 B
Manager:
Celeus GmbH
Willy-Brandt-Platz 2
D 12529 Schönefeld
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 29.01.2013
Reg. data: 03044 Cottbus, HRB 10921 CB
Manager:
Fashion Connectivity
Technologies GmbH
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 17.04.2015
Reg. data: 14057 Berlin, HRB 166337 B
Manager:
GeRo Fashion Commerce UG
(haftungsbeschränkt)
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: Entrepreneur Company
(limited
liability)
Share capital: EUR 1.00
Registered
on: 19.10.2010
Reg. data: 14057 Berlin, HRB 129735 B
Manager:
Zalando Fashion
Entrepreneurs GmbH
Sonnenburger Str. 73
D 10437 Berlin
Legal form: Private
limited company
Share
capital: EUR 25,000.00
Registered
on: 17.12.2012
Reg. data: 14057 Berlin, HRB 146657 B
Manager:
Manoa Ventures GmbH
Willy-Brandt-Platz 2
D 12529 Schönefeld
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on:
29.10.2013
Reg. data: 03044 Cottbus, HRB 11310 CB
Manager:
Zalando Lounge Service
GmbH
Am Treptower Park 28-30
D 12435 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 14.10.2013
Reg. data: 14057 Berlin, HRB 153385 B
Member of the Board of Directors:
Zalando SE
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: European
Company (SE)
Share capital: EUR
246,797,718.00
Registered
on: 28.05.2014
Reg. data: 14057 Berlin, HRB 158855 B
Further functions/participations of Jan
Wilmking (Manager)
Shareholder:
Rue Blitz UG (haftungsbeschränkt)
Immermannstr. 46-48
D 50931 Köln
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR
1,000.00
Share: EUR 500.00
Registered
on: 19.01.2012
Reg. data: 50939 Köln, HRB 74495
Shareholder:
Wilmking Invest UG
(haftungsbeschränkt)
Arkonaplatz 10 c/o Jan
Wilmking
D 10435 Berlin
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR 150.00
Share: EUR 150.00
Registered
on: 23.07.2013
Reg. data: 14057 Berlin, HRB 151544 B
Manager:
Mobile Fashion Discovery
GmbH
Tamara-Danz-Str. 1
D 10243 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 11.09.2015
Reg. data: 14057 Berlin, HRB 170259 B
Manager:
Wilmking Invest UG
(haftungsbeschränkt)
Arkonaplatz 10 c/o Jan
Wilmking
D 10435 Berlin
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR
150.00
Registered
on: 23.07.2013
Reg. data: 14057 Berlin, HRB 151544 B
06.01.2010 - 09.03.2011 Zign GmbH
Zinnowitzer Str. 1
D 10115 Berlin
Private limited
company
09.03.2011 - 14.05.2012 zLabels GmbH
Kopenhagener Str. 57
D 10437 Berlin
Private limited
company
14.05.2012 - 20.09.2012 zLabels GmbH
Johannisstr. 20
D 10117 Berlin
Private limited
company
20.09.2012 - 26.04.2013 zLabels GmbH
Unter den Linden 21
D 10117 Berlin
Private limited
company
15.03.2011 - 06.01.2014 Manager
Claudia Roggenkamp
D 10117 Berlin
Main industrial sector
1419
Manufacture of other wearing apparel and accessories n.e.c.
4641
Wholesale of textiles
46422
Wholesale of footwear
4771
Retail sale of clothing
Branch:
zLabels GmbH
Johannisstr. 20-21
D 10117 Berlin
TEL.: 030/200088520
Payment experience: within periods customary in this trade
Negative information:We have no negative
information at hand.
Balance sheet year: 2014
PMI: No significant / relevant
payment experience
information pertaining to
the company
inquired upon is shown in
the Deutscher
Debitoren Monitor
(DDMonitor).
Type of ownership: Tenant
Address Neue Bahnhofstr. 11-17
D 10245 Berlin
Real Estate of: Christian Thomas Baier
Type of ownership: Tenant
Address Cunostr. 69a
D 14199 Berlin
Real Estate of: David Schneider
Type of ownership: unknown
Address Fürstenberger Str. 12
D 10435 Berlin
Real
Estate of: Robert Gentz
Type of ownership: Tenant
Address Leipziger Str. 103
D 10117 Berlin
Land register documents were not available.
A
bank connection is unknown.
FINANCIAL
FIGURES
Turnover: 2013 EUR 18,724,333.00
2014 EUR 21,653,138.00
Profit: 2013 EUR 1,538,844.00
2014 EUR 420,256.00
further business figures:
Equipment: EUR 96,907.00
Ac/ts receivable: EUR 2,459,897.00
Liabilities: EUR 5,689,842.00
Employees: 256
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: -29.93
Liquidity ratio: 10.00
Return on total capital [%]: 28.94
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 15.83
Liquidity ratio: 10.00
Return on total capital [%]: 89.22
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: -41.08
Liquidity ratio: 10.00
Return on total capital [%]: -372.56
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: -991.65
Liquidity ratio: 0.02
Return on total capital [%]: -1,011.44
Equity ratio
The
equity ratio indicates the portion of the equity as compared
to
the total capital. The higher the equity ratio, the better the
economic stability (solvency) and thus the
financial autonomy of
a
company.
Liquidity ratio
The
liquidity ratio shows the proportion between adjusted
receivables and net liabilities. The higher
the ratio, the lower
the
company's financial dependancy from external creditors.
Return on total capital
The
return on total capital shows the efficiency and return on
the
total capital employed in the company. The higher the return
on
total capital, the more economically does the company work
with the invested capital.
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2014 - 31.12.2014
ASSETS EUR 7,093,131.65
Fixed assets
EUR 107,005.28
Intangible assets
EUR 3,950.00
Concessions, licences, rights
EUR 3,950.00
Tangible assets
EUR 103,055.28
Other tangible assets / fixtures and
fittings EUR 96,907.00
Advance payments made / construction
in progress
EUR 6,148.28
Current assets
EUR 3,699,857.39
Accounts receivable
EUR 2,459,896.66
Amounts due from shareholders
EUR 2,368,375.90
Trade debtors
EUR 63,714.98
Other debtors and assets
EUR 27,805.78
Liquid means EUR 1,239,960.73
Remaining other assets
EUR 3,286,268.98
Accruals (assets)
EUR 13,568.70
Deferred taxes (assets)
EUR 942,000.00
Deficit not covered by shareholders'
equity
EUR 2,330,700.28
LIABILITIES EUR 7,093,131.65
Shareholders' equity
EUR 0.00
Capital EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR -2,355,700.28
Profit / loss brought forward
EUR -2,775,956.74
Annual surplus / annual deficit
EUR 420,256.46
Other shareholders' equity (+/-)
EUR 2,330,700.28
General partners' share in the loss
not covered by capital contributions EUR 2,330,700.28
Provisions
EUR 1,403,289.76
Other / unspecified provisions
EUR 1,403,289.76
Liabilities
EUR 5,689,841.89
Other liabilities
EUR 5,689,841.89
Trade creditors (for IAS incl. bills
of exchange)
EUR 290,587.17
Liabilities due to shareholders
EUR 5,206,481.12
Unspecified other liabilities
EUR 192,773.60
thereof liabilities from tax /
financial authorities EUR 185,223.11
Guarantees and other commitments
EUR 233,887,000.00
Liability from creation of a security
interest for third parties
EUR 33,887,000.00
Liabilities under loans on a trust
basis
EUR 200,000,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 21,653,138.08
Other operating income
EUR 277,160.14
Gross result (+/-)
EUR 21,930,298.22
Staff expenses
EUR 12,932,611.20
Wages and salaries
EUR 10,994,364.13
Social security contributions and
expenses for pension plans and
benefits
EUR 1,938,247.07
Total depreciation
EUR 33,869.21
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 33,869.21
Other operating expenses
EUR 8,417,906.83
Operating result from continuing
operations
EUR 545,910.98
Interest result (+/-) EUR -50,654.52
Interest and similar income
EUR 4.15
Interest and similar expenses
EUR 50,658.67
thereof paid to related companies
EUR 50,658.67
Financial result (+/-)
EUR -50,654.52
Result from ordinary operations (+/-)
EUR 495,256.46
Income tax / refund of income tax (+/-)EUR -75,000.00
Tax
(+/-) EUR -75,000.00
Annual surplus / annual deficit
EUR 420,256.46
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 7,647,365.09
Fixed assets
EUR 132,502.00
Intangible assets
EUR 25,748.00
Concessions, licences, rights
EUR 25,748.00
Tangible assets
EUR 106,754.00
Other tangible assets / fixtures and
fittings
EUR 106,754.00
Current assets
EUR 3,702,068.46
Accounts receivable
EUR 2,198,221.13
Amounts due from shareholders
EUR 2,154,603.91
Trade debtors
EUR 4,985.82
Other debtors and assets EUR 38,631.40
Liquid means
EUR 1,503,847.33
Remaining other assets
EUR 3,812,794.63
Accruals (assets)
EUR 44,837.89
Deferred
taxes (assets) EUR 1,017,000.00
Deficit not covered by shareholders'
equity
EUR 2,750,956.74
LIABILITIES EUR 7,647,365.09
Shareholders' equity
EUR 0.00
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR -2,775,956.74
Profit
/ loss brought forward EUR -4,314,800.55
Annual surplus / annual deficit
EUR 1,538,843.81
Other shareholders' equity (+/-)
EUR 2,750,956.74
Deficit not covered by shareholders'
equity EUR 2,750,956.74
Provisions
EUR 842,311.50
Other / unspecified provisions
EUR 842,311.50
Liabilities
EUR 6,805,053.59
Other liabilities
EUR 6,805,053.59
Trade creditors (for IAS incl. bills
of exchange)
EUR 572,453.76
Liabilities due to shareholders
EUR 6,195,622.83
Unspecified other liabilities
EUR 36,977.00
thereof liabilities from tax /
financial authorities
EUR 63.30
thereof liabilities from social
security
EUR 670.99
Guarantees
and other commitments EUR 37,130,000.00
Sureties / lendings of
creditworthiness
EUR 13,000,000.00
Other guarantees and other commitmentsEUR 24,130,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales
EUR 18,724,333.26
Other operating income
EUR 289,190.00
Gross result (+/-)
EUR 19,013,523.26
Staff expenses
EUR 12,277,136.74
Wages and salaries
EUR 10,464,743.26
Social security contributions and
expenses for pension plans and
benefits EUR 1,812,393.48
Total depreciation
EUR 36,434.26
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 36,434.26
Other
operating expenses EUR 6,125,071.37
Operating result from continuing
operations
EUR 574,880.89
Interest result (+/-)
EUR -53,037.08
Interest and similar income
EUR 2,070.54
Interest and similar expenses
EUR 55,107.62
thereof paid to related companies
EUR 55,107.62
Financial result (+/-)
EUR -53,037.08
Result from ordinary operations (+/-)
EUR 521,843.81
Income tax / refund of income tax (+/-)EUR 1,017,000.00
Tax
(+/-)
EUR 1,017,000.00
Annual surplus / annual deficit
EUR 1,538,843.81
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
|
EUR |
1 |
Rs.70.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.