MIRA INFORM REPORT

 

 

Report No. :

499209

Report Date :

06.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BIO DIETS EU LIMITED

 

 

Registered Office :

Amberqormi Road,Court, Block C, No. 1,, Svr 1301, Santa Venera –

 

 

Country :

Malta

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

09.02.2009

 

 

Legal Form :

Limited Liability Co. - Private Exempt

 

 

Line of Business :

·         trade in the purchase and sale of organic products

·         Manufacture of food products and beverages

 

 

No. of Employees :

Not available 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Malta

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

MALTA - ECONOMIC OVERVIEW

 

Malta’s free market economy – the smallest economy in the euro-zone – relies heavily on trade in both goods and services, principally with Europe. Malta produces less than a quarter of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's economy is dependent on foreign trade, manufacturing, and tourism. Malta joined the EU in 2004 and adopted the euro on 1 January 2008.

Malta has weathered the euro-zone crisis better than most EU member states due to a low debt-to-GDP ratio and financially sound banking sector. It maintains one of the lowest unemployment rates in Europe, and growth has fully recovered since the 2009 recession. In 2014 through 2016, Malta led the euro zone in growth, expanding more than 4.5% per year.

Malta’s services sector continues to grow, with sustained growth in the financial services and online gaming sectors. Advantageous tax schemes remained attractive to foreign investors, though EU discussions of anti-tax avoidance measures have raised concerns among Malta’s financial services and insurance providers, as the measures could have a significant impact on those sectors. The tourism sector also continued to grow, with 2016 showing record-breaking numbers of both air and cruise passenger arrivals.

Malta’s GDP growth remains strong and is supported by a strong labor market. The government has implemented new programs, including free childcare, to encourage increased labor participation. The high cost of borrowing and small labor market remain potential constraints to future economic growth. Increasingly, other EU and European migrants are relocating to Malta for employment, though wages have remained low compared to other European countries. Inflation remains low.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Report Subject:

 

 

 

Name:

BIO DIETS EU LIMITED

Reg. No:

C 46197

Street:

AMBERQORMI ROAD,COURT, BLOCK C, NO. 1,

Phone:

27474414

Postal code:

SVR 1301

Fax:

-

City:

Santa Venera – Malta

VAT:

MT19282827

P.O. box:

 

Founded:

09/02/2009

English name:

 

Reg. date:

09/02/2009

Formerly known as:

 

Homepage:

www.biodiets.eu

Last update:

04.04.2018

E-mail:

info@biodiets.eu

 

 

Company legal form

 

Limited Liability Co. - Private Exempt

 

Company representation

The legal and judicial representation of the company is vested in Mr. Pradeep Mathur or, any person so nominated by the company through its board of directors.

 

 

DIRECTORS/MANAGEMENT

 

Board of directors:

Indian No: Passport

Position:

PRADEEP MATHUR

4402, Sadaf 8 Jumeirah Beach Residence, Marsa PO Box 454448, Dubai, G1070215 United Arab Emirates

G1070215

DIRECTOR

 

 

NEGATIVE INFORMATION

 

Court information and defaulting debts

No registration

 

SHARE & SHARE CAPITAL INFORMATION

 

Capital

 

Authorized: 1,500.00       Issued: 1,200.00 Paid up: 1,200.00 EUR

Nominal value: 1.00

Share description: Issued capital is split equally into ordinary 'A', 'B' & 'C' shares. Ord 'B' & 'C' shareholders carry no voting rights.

Ordinary 'A' shareholders are entitled to 95% of the declared and distributed dividend, whereas 'B' & 'C' shareholders are entitled to 2.5%

 

Shareholders

Indian Passport No:

Ownership(%):

Shareclass

PRADEEP MATHUR

4402, Sadaf 8 Jumeirah Beach Residence, Marsa PO Box

454448, Dubai, United Arab Emirates

G1070215

0.33

A Class

MANISHA MATHUR

4402, Sadaf 8, Jumeirah Beach Residence, Marsa, UAE

F2915851

0.33

B Class

GIRISH CHADHA

B—7/5180 – Vasant Kunj New Delhi 1100070, India

F901526

0.33

C Class

 

 

PAYMENT INFORMATION

 

Customer type:

Companies

Food Wholesalers

Food Producers

 

Export to:

International trade - special agreements

 

Selling terms:

International trade - special agreements

 

Import from:

International trade - special agreements

 

Payment terms:

International trade - special agreements

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

FINANCIAL INFORMATION

 

 

 

 

ADDITIONAL INFORMATION

 

Company history:

Subject was set up and registered on 09.02.2009 under registration number C 46197.

The company has been registered for the purposes of the Income Tax Acts and bears Income Tax

Registration No: 99 48018 34.

Latest Annual Return filed by the company is made up to 9th February 2017.

Company Filed Changes:

29.09.16: Transfer of 400 ordinary B shares from Indra Mohan Deveshvar to Manisha Mathur who

transferred 400 ordinary C shares to Girsch Chadha.

30.06.14: The company changed its registered address from: No. 8, Northfields Apartments,

Independence Avenue, Mosta to: Amber Court, Block C, No. 1, Qormi Road, Santa Venera.

01.07.12: Ms. Louiselle Pace Gouder was removed as auditor of the company.

25.07.10: Mr. Michael Debono resigned as company secretary, and Mr. Pradeep Mathur was appointed.

Director Local Involvements:

Other involvements of Mathur Pradeep - Indian Nationality

 Bio Life Trading Ltd Director & Secretary

 Bio Lifestyle Trading Ltd Director & Secretary

 Bio Nutrition Trading Ltd Director & Secretary

 Euphoria Trading Ltd Director & Secretary

 Island Agro Limited Director & Shareholder

 Organic Lifestyle Trading Ltd Director & Secretary

 Organic Nutrition Trading Ltd Director & Secretary

 Pure Healthy Foods Trading Ltd Director & Secretary

 Pure Organic Foods Trading Ltd Director & Secretary

 

Company operation

The company was incorporated on 9th February 2009 in order to trade in the purchase and sale of

organic products. On 4 February 2010 the company set up an overseas company and established a place

of business in the Republic of Cyprus. On 1 September 2010 the company was registered with the VAT

authorities in Germany.

The activities of the company are to carry on in the EU and other countries the business of manufacture,

produce, processing, protecting, and trading in organic food in various forms. Such products are tinpacked,

processed, preserved, treated and commercialised.

Biodiets is known by its brand “Pure Life”, which is a registered brand in Europe. Subject has offices

across Netherlands, Malta, UK, Cyprus which enable them to stock the product at various locations such

as Antwerp, Germany and Spain etc and provide regular supplies to clients. Biodiets has farmer projects

and tie-ups in various countries like China, India, Vietnam, Bangladesh and Mozambique.

Subject's products that are picked up from farms anywhere in the world are tested at Eurofins Labs.

 

Employees

Local – none

 

NACE code:

15: Manufacture of food products and beverages

 

Company status

Active

 

Company secretary

Indian Passport No:

PRADEEP MATHUR

4402, Sadaf 8 Jumeirah Beach Residence, Marsa PO Box 454448, Dubai, United Arab Emirates

G1070215

 

Auditors

ID-/Reg.no:

Street:

Ernst & Young (*)

AB/26/84/01

RegionalMalta Business Centre, Achille Ferris Street, Msida MSD 1751,

(*) removed as auditor as from 01.08.2017

 

Local investments and company relations:

 

 

 

Company name:

Reg. No:

Ownership (%):

Status

Pure Organic Foods Trading Ltd

C 56203

99.92

Active

Pure Healthy Foods Trading Ltd

C 56204

99.92

Active

Organic Nutrition Trading Ltd

C 56205

99.92

Active

Organic Lifestyle Trading Ltd

C 56206

99.92

Active

Bio Nutrition Trading Ltd

C 56207

99.92

Active

Bio Life Trading Ltd

C 56208

99.92

Active

Bio Lifestyle Trading Ltd

C 56209

99.92

Active

Euphoria Trading Ltd

C 56210

99.92

Active

Pure Diets Mozambique SA (Mozambique) – 99.4%

 

 

 

 

Real Estates:

 

 

Street:

AmberNo. 1, QormiCourt,Road,Block SantaC, Venera

City:

Santa Venera

Location:

On a main road

 

 

Tenure:

Other

Real Estate type:

Registered Address

 

Trade banks:

Bank: HSBC Bank Malta p.l.c., 32/34, Merchants Street, Valletta, Malta

Bank: Bank of Valletta plc, Republic Street, Valletta, Malta

Bank: Deutshe Bank Nederland b.v., De Entrée, Amsterdam, Holland

 

Charges

No information available

 

 

Company revie:

Locally, Nothing adverse is reported.

FINANCIAL STRENGTH INDICATOR : 2B (1B) (representing a company net worth between Eur5-10,000,000)

 

NOTES & COMMENTS

 

N/a

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.06

UK Pound

1

INR 91.50

Euro

1

INR 79.78

 

1

INR

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

 

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.