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MIRA INFORM REPORT
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Report No. : |
510733 |
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Report Date : |
24.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GOVIND JAIN E.K. |
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Registered Office : |
Mainzer Str. 57-59, D 55743 Idar-Oberstein |
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Country : |
Germany |
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Date of Incorporation : |
15.02.1980 |
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Com. Reg. No.: |
HRA 11356 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Clocks and Watches and Jewelry. |
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No. of Employees : |
10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 economic 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, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.
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Source
: CIA |
Company
name and address
GOVIND JAIN E.K.
Company Status: Active
Mainzer Str. 57-59
D 55743 Idar-Oberstein
Telephone:06871/98480
Telefax: 06781/41727
Homepage: www.govind-jain.de
E-mail: govindjain@web.de
VAT
no.
DE148292009
Company
Summary
LEGAL FORM Sole proprietorship
Date of foundation: 15.02.1980
Registered on: 15.02.1980
Register of
companies: Local court 55543 Bad Kreuznach
under: HRA 11356
Proprietor:
Govind Narain Jain
Langwiesenstraße 14
D 55743 Idar-Oberstein
born: 02.07.1951
Marital status: married
Further functions/participations of Govind Narain Jain
(Proprietor)
General partner:
Govind Jain & Sohn KG
Mainzer Str. 57-59
D 55743 Idar-Oberstein
Legal form: Limited partnership
Total cap. EUR 25,000.00
contribution:
Registered
on: 21.12.2017
Reg. data: 55543 Bad Kreuznach, HRA 20929
COMPANY
HISTORY
Company name and legal form
15.02.1980 - 21.06.1999 Govind Jain
Mainzer Str. 34
D 55743 Idar-Oberstein
Sole proprietorship
BUSINESS
ACTIVITIES
Main industrial sector
46480 Wholesale of clocks and watches and jewelry
PARTICIPATIONS\
Shareholder:
Messe Idar-Oberstein GmbH
John-F.-Kennedy-Str. 9
D 55743 Idar-Oberstein
Legal form: Private limited company
Company Status: active
Share capital: EUR 315,000.00
Share: EUR 10,000.00
Reg. data: 13.07.2009
Local court 55543 Bad Kreuznach
HRB 20781
FINANCIAL
INFORMATION
Payment experience: within agreed terms
Negative information: We have no negative information at hand.
REAL
ESTATE
Type of ownership: Tenant
Address Mainzer Str. 57-59
D 55743 Idar-Oberstein
Land register documents were not available.
BANKERS
Principal bank
COMMERZBANK, 55701 IDAR-OBERSTEIN
Sort. code: 56240050, Account no.: 1691799
BIC: COBADEFFXXX, IBAN: DE53562400500169179900
FINANCIAL
FIGURES
Financial year: 01.01. - 31.12.
Turnover: 2016 *EUR 1,350,000.00
2017 *EUR 1,350,000.00
further business
figures:
Equipment: *EUR 70,000.00
Ac/ts
receivable:
*EUR 660,000.00
Liabilities: *EUR 1,870,000.00
Total numbers of
vehicles: * 2
- Passenger
cars:
2
Employees:
10
The business figures marked with an asterisk are estimates based on average values in the line of business.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.21 |
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1 |
INR 91.43 |
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Euro |
1 |
INR 80.24 |
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EUR |
1 |
INR 80.25 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.