MIRA INFORM REPORT

 

 

Report No. :

489145

Report Date :

02.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

FRANK PAULS E.K THE TEA COMPANY

 

 

Registered Office :

Werner-von-Siemens-Str. 14, D 21629 Neu Wulmstorf

 

 

Country :

Germany

 

 

Date of Incorporation :

22.06.2011

 

 

Com. Reg. No.:

HRA 201956

 

 

Legal Form :

Sole proprietorship

 

 

Line of Business :

Wholesale of coffee, tea, cocoa and spices

 

 

No. of Employees :

Not available

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

D

 

Credit Rating

Explanation

Rating Comments

D

High Risk

Business dealing not recommended or on secured terms only

 

 

Status :

Dissolved

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

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

(30.06.2017)

Current Rating

(30.09.2017)

Germany

A1

A1

 

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

 

 

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 a large increase in 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. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.

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 2017 Germany reached a budget surplus of 0.7%. 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 during 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 largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, 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. Domestic consumption, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2018.

 

Source : CIA

 

Company name and address

 

Frank Pauls e.K The Tea Company

 

 Company Status:         dissolved                  since: 31.08.2017

                                    Werner-von-Siemens-Str. 14

                                    D 21629 Neu Wulmstorf

 

 

CONCLUSION

 

 We cannot give an opinion as to the granting of a credit in this particular case. Business relations on credit basis are not permissible.

 

 

Company summary

 

 Legal Form                  Sole proprietorship

 Date of foundation:      22.06.2011

 Registered on:             22.06.2011

 Register of

 companies:                  Local court 21255 Tostedt

 under:                          HRA 201956

 

 

COMPANY HISTORY

 

 company name and legal form

 22.06.2011 - 10.04.2017  Frank Pauls e.K The Tea Company

                          Robert-Bosch-Str. 14

                          D 21629 Neu Wulmstorf

                          Sole proprietorship

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 29.06.2011 - 31.08.2017  Proprietor

                          Frank Pauls

                          D 21629 Neu Wulmstorf

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 4637    Wholesale of coffee, tea, cocoa and spices

 

 

FINANCIAL INFORMATION

 

 Payment experience:    --

 

 Negative information:   We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:       unknown

 Address                       Werner-von-Siemens-Str. 14

                                    D 21629 Neu Wulmstorf

 

 Land register documents were not available.

 

 

BANKERS

 

 No bank connection is maintained.

 

 

FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.08.

 No full-time employees are employed.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.61

UK Pound

1

INR 89.32

Euro

1

INR 78.95

Euro

1

INR 80.11

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

SYL

                                                


 

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.