MIRA INFORM REPORT

Report No. :	509896
Report Date :	21.05.2018

IDENTIFICATION DETAILS

Name :	MTE CATALYST SUPPORT B.V.
Registered Office :	Boezemweg 5 3255MC Oude-Tonge
Country :	Netherlands
Financials (as on) :	31.12.2016
Date of Incorporation :	18.11.1996
Com. Reg. No.:	24270328
Legal Form :	Private Limited Company
Line of Business :	Wholesale of fittings, technical supplies. Technical trading company for products in the chemical and petrochemical industry, drinking water companies, pharmaceutical industry and food industry. Delivery and application of moisture-restricting measures (slide skirts).
No. of Employees :	5 (2016)

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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)
Netherlands	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

NETHERLANDS - ECONOMIC OVERVIEW

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a consistently high trade surplus, stable industrial relations, and low unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter.

The Netherlands is part of the euro zone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 80% of banking assets, and is four times the size of Dutch GDP.

In 2008, during the financial crisis, the government budget deficit hit 5.3% of GDP. Following a protracted recession from 2009 to 2013, during which unemployment doubled to 7.4% and household consumption contracted for four consecutive years, economic growth began inching forward in 2014. Since 2010, Prime Minister Mark RUTTE’s government has implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. In 2017, the government budget returned to a surplus of 0.7% of GDP, with economic growth of 3.2%, and GDP per capita finally surpassed pre-crisis levels. The fiscal policy announced by the new government in the 2018-2021 coalition plans for increases in government consumption and public investment, fueling domestic demand and household consumption and investment. The new government’s policy also plans to increase demand for workers in the public and private sector, forecasting a further decline in the unemployment rate, which hit 4.8% in 2017.

Source : CIA

Summary

Company name	MTE Catalyst Support B.V.
Operative address	Boezemweg 5 3255MC OUDE-TONGE Netherlands
Status	Active

Legal form	Private Limited Company
Registration number	KvK-nummer: 24270328
VAT-number	805526845
European VAT-number	NL805526845B01
Year	2016	Mutation	2015	Mutation	2014
Fixed assets	76.694	2,25	75.007	177,15	27.064
Total receivables	1.556.443	38,49	1.123.838	9,41	1.027.138
Total equity	994.176	3,76	958.115	6,16	902.513
Short term liabilities	1.288.607	30,18	989.883	-4,78	1.039.577
Working capital	1.112.482	25,97	883.108	0,87	875.449
Quick ratio	1,24	8,77	1,14	15,15	0,99

Contact information

Company name	MTE Catalyst Support B.V.
Trade names	Mulder Tower Equipment (MTE) B.V. MTE Molecular Sieves MTE University
Operative address	Boezemweg 5 3255MC OUDE-TONGE Netherlands
Correspondence address	Boezemweg 5 3255MC OUDE-TONGE Netherlands

Telephone number	010-2310260
Fax number	0102310265
Mobile number	010-2310265
Email address	info@mte-bv.com
Website	www.mte-bv.com

Registration

Registration number	KvK-nummer: 24270328
Branch number	000017289556
VAT-number	805526845
European VAT-number	NL805526845B01
Status	Active
First registration company register	1997-02-07
Memorandum	1997-02-07
Establishment date	1996-11-18

Legal form	Private Limited Company
Legal person since	1997-02-07
Issued placed capital	EUR 18.400
Paid up share capital	EUR 18.400

Activities

SBI	46694: Wholesale of fittings, technical supplies etc.
Exporter	Yes
Importer	Yes

Goal	Technical trading company for products in the chemical and petrochemical industry, drinking water companies, pharmaceutical industry and food industry. Delivery and application of moisture-restricting measures (slide skirts).

Relations

Shareholders	MTE Group B.V. Boezemweg 5 3255MC OUDE-TONGE Netherlands Registration number: 24333290 Percentage: 100%
Affiliates	MTE Process Technology B.V. JC van Andelweg 8 7951DT Staphorst Netherlands Registration number: 24455988 MTE Integrated Turnaround Solutions B.V. Boezemweg 5 3255MC OUDE-TONGE Netherlands Registration number: 67391052

Companies on same address

MTE Group B.V. Registration number: 24333290 Joed Holding B.V. Registration number: 24296118 Silicagel Europe B.V. Registration number: 59487003 Ghost Town Events B.V. Registration number: 61168262 MTE Integrated Turnaround Solutions B.V. Registration number: 67391052 BRU-Bin B.V. Registration number: 70672040

Real Estate

Details operative address

Surface area: 6488 m2 Purpose: Industrial function, Sport function Construction year: 2005 Status: Building in use Under investigation: No

Management

Active management

Joed Holding B.V. Boezemweg 5 3255MC Oude-Tonge Netherlands Registration number: 24296118 Competence: Fully authorized Function: General Director Starting date: 2011-11-17

Employees

Year	2016	2015	2014	2013	2012
Annual		11	11	10	4
Chamber of Commerce	5	5			5

Payments

Description	Regular
Payments within industry	Last quarter	Last year
Average payment period (days)	38	36
Average delay (days)	16	16

Quarter	Not overdue	1-30	31-60	61-90	91-120	121+
2018 Q2	67,00%	26,00%	5,00%	1,00%	1,00%	0,00%
2018 Q1	64,00%	28,00%	5,00%	1,00%	0,00%	1,00%
2017 Q4	73,00%	21,00%	3,00%	1,00%	1,00%	1,00%
2017 Q3	61,00%	32,00%	4,00%	2,00%	0,00%	1,00%
2017 Q2	54,00%	38,00%	5,00%	1,00%	0,00%	1,00%

The above data is an indication of the average payment behaviour of the client. the payment experieneces can be affected by disputes, payment arrangements, etc.

Key figures

Year	2016	2015	2014	2013	2012
Quick ratio	1,24	1,14	0,99	0,90	0,95
Current ratio	1,86	1,89	1,84	1,71	1,41
Working capital/ balance total	0,45	0,45	0,45	0,41	0,29
Equity / balance total	0,40	0,49	0,46	0,42	0,30
Equity / Fixed assets	12,96	12,77	33,35	24,19	17,68
Equity / liabilities	0,67	0,97	0,87	0,74	0,44
Balance total / liabilities	1,67	1,97	1,87	1,74	1,44
Working capital	1.112.482	883.108	875.449	823.139	667.363
Equity	994.176	958.115	902.513	855.240	707.375
Mutation equity	3,76	6,16	5,53	20,90	3,29
Mutation short term liabilities	30,18	-4,78	-10,17	-28,32	195,54
Summary	The 2016 financial result structure is a postive working captial of 1.112.482 euro, which is in agreement with 45 % of the total assets of the company. The working capital has increased with 25.97 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged. The improvement between 2015 and 2016 has mainly been caused by a change of the current liabilities. The current ratio of the company in 2016 was 1.86. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength. The quick ratio in 2016 of the company was 1.24. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities. The 2015 financial result structure is a postive working captial of 883.108 euro, which is in agreement with 45 % of the total assets of the company. The working capital and the proportion with respect to the total assets of the company has remained unchanged compared to previous year. The unchanged capital can be explained by an increase in current assets and a decrease in current liabilities. The current ratio of the company in 2015 was 1.89. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength. The quick ratio in 2015 of the company was 1.14. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

Financial statement

Last annual account	2016
Remark annual account	The company is obliged to file its financial statements.
Type of annual account	Corporate
Annual account	MTE Catalyst Support B.V. Boezemweg 5 3255MC OUDE-TONGE Netherlands Registration number: 24270328

Balance

Year	2016	2015	2014	2013	2012
End date	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Type of annual account	Corporate	Corporate	Corporate	Corporate	Corporate
Tangible fixed assets	72.067	71.613	27.064	35.360	40.012
Financial fixed assets	4.627	3.394
Fixed assets	76.694	75.007	27.064	35.360	40.012
Total stock	802.688	748.642	887.786	937.083	751.435
Total receivables	1.556.443	1.123.838	1.027.138	1.043.357	1.530.492
Liquid funds	41.958	511	102	11	16
Current assets	2.401.089	1.872.991	1.915.026	1.980.451	2.281.943
Total assets	2.477.783	1.947.998	1.942.090	2.015.811	2.321.955
Issued capital	18.400	18.151	18.151	18.151	18.151
Other reserves	975.776	939.964	884.362	837.089	689.224
Total reserves	975.776	939.964	884.362	837.089	689.224
Total equity	994.176	958.115	902.513	855.240	707.375
Long term interest yielding debt	195.000			3.259
Long term liabilities	195.000			3.259
Short term liabilities	1.288.607	989.883	1.039.577	1.157.312	1.614.580
Total short and long term liabilities	1.483.607	989.883	1.039.577	1.160.571	1.614.580
Total liabilities	2.477.783	1.947.998	1.942.090	2.015.811	2.321.955
Summary	The total assets of the company increased with 27.2 % between 2015 and 2016. The fixed asset growth of 2.25 % is lower than the total asset growth. The asset growth has mainly been financed by a debt increase of 49.88 %. The Net Worth, however, grew with 3.76 %. In 2016 the assets of the company were 3.1 % composed of fixed assets and 96.9 % by current assets. The assets are being financed by an equity of 40.12 %, and total debt of 59.88 %. The total assets remained the same between 2014 and 2015. Despite the fact that the total assets remained the same, the fixed assets increased with 177.15 %. Despite thee unchanged assets the net worth grew with 6.16 %, which has resulted in the fact that the company's indebtedness declined with -4.78 %. In 2015 the assets of the company were 3.85 % composed of fixed assets and 96.15 % by current assets. The assets are being financed by an equity of 49.18 %, and total debt of 50.82 %.

Analysis

Branch (SBI)	Wholesale of fittings, technical supplies etc. (SBI code 46694)
Region	Groot-Rijnmond
Summary	In the Netherlands 13514 of the companies are registered with the SBI code 46694 In the region Groot-Rijnmond 1760 of the companies are registered with the SBI code 46694 In the Netherlands 58 of the bankrupcties are published within this sector In the region Groot-Rijnmond 8 of the bankruptcies are published within this sector The risk of this specific sector in the Netherlands is normal The risk of this specific sector in the region Groot-Rijnmond is normal
Year	2016	Company	2015	Company	2014
Equity	1.784.352	994.176	1.735.475	958.115	1.724.726
Working capital	1.243.832	1.112.482	1.170.570	883.108	1.174.796
Balance total	3.993.972	2.477.783	3.997.237	1.947.998	3.848.983
Quick ratio	1,16	1,24	1,16	1,14	1,16
Current ratio	1,69	1,86	1,71	1,89	1,74
Equity / balance total	0,44	0,40	0,43	0,49	0,43

Publications

Deposits	22-12-2017: De jaarrekening over 2016 is gepubliceerd. 22-04-2016: De jaarrekening over 2015 is gepubliceerd. 05-06-2015: De jaarrekening over 2014 is gepubliceerd. 05-06-2015: De jaarrekening over 2014 is gepubliceerd. 26-05-2014: De jaarrekening over 2013 is gepubliceerd.
Other	01-12-2016: Geplaatst kapitaal gewijzigd in EUR 18.400,00 Gestort kapitaal gewijzigd in EUR 18.400,00. 01-12-2016: Per 28-11-2016 statuten gewijzigd. Per 28-11-2016 naam gewijzigd in: MTE Catalyst Support B.V.. Zetel gewijzigd in: Oude-Tonge (gemeente Goeree-Overflakkee).

Company structure

Relations	4
Company	Registration number
MTE Group B.V. (OUDE-TONGE)	24333290
| - - MTE Catalyst Support B.V. (OUDE-TONGE)	24270328
| - - MTE Integrated Turnaround Solutions B.V. (OUDE-TONGE)	67391052
| - - MTE Process Technology B.V. (Staphorst)	24455988

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.28
Euro	1	INR 80.04

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

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)

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