On the 1st of January 2017 the Federal law №218-FZ «On state registration of real estate» dated 13.07.2015 will come into force, which provides for the formation of the Unified State Real Estate Registry (USRRE) only in electronic form. USRRE must include preexisting separately: real estate cadastre, register of real property rights, register of borders, registry cases, cadastral maps and document journals.
Extracts’ forms from USRRE, structure and types of data, procedure of filling forms, format requirements of documents with information from USRRE are approved by the order №378 of the Ministry of Economic Development of the Russian Federation dated 20.06.2016 (was registered in the Ministry of Justice of the Russian Federation on 24.08.2016, №43384), entering also into force from January 1, 2017.
The order introduced, in particular, the following forms of extracts from USRRE:
- on characteristics and registered rights for a real estate unit;
- on the transfer of rights for a real estate unit;
- on the rights of an individual for available or previously held real estate units;
- on the date of receipt of the application for the state cadastral registration or state registration of rights and the documents attached thereto.
In addition, the types of data delivery from USRRE are defined. It may be cadastral plans of territories; notifications and information on persons, who received data about a real estate unit, or on the lack of information about such persons; notifications about the lack of information in USRRE; decisions on the refusal to provide information.
The data from USRRE should be provided by the Federal Service for State Registration, Cadastre and Cartography (Rosreestr), including by its subordinate federal budgetary institutions, in electronic form or on paper, in the form of copies of documents, being the basis of entering the information into USRRE, as an extract from USRRE or in the form defined particularly by the Ministry of Economic Development of the RF.
By providing information from USRRE the information and telecommunication public networks will be used, among them are the Unified portal of public and municipal services, official website of Rosreestr, the Federal Public information system of maintaining of the Unified State Registry of real estate.
In accordance with the Federal Law №218-FZ, the data from USRRE, excluding information, the access to which is restricted on security reasons by the legislation, should be provided be the registration authorities of rights on real estate on the basis of the requests of any person. About the status of the request the citizens will be informed via e-mail or SMS messages. In the case of a request directly to the website of Rosreestr its status will be individually monitored through the service «Check Request Status on-line».
In addition, the general terms of the cadastral registration of real estate and state registration of rights and real estate transactions are reduced. Thus, the Law gives 3 working days for state registration of rights on the basis of notarized transactions, certificates of inheritance, ownership certificates on a share in the common property of spouses, or 1 business day - for inflow of such statements and documents in electronic form. Five working days are given for cadastral registration, seven business days - for the state registration of rights and transactions, and by cadastre registration and state registration of rights, carrying out at the same time, – ten working days.
The fees paid for the provision of information from USRRE are set by the order №291 of the Ministry of Economic Development of the Russian Federation dated 05.10.2016 since the 1st of January 2017. For example, the fee for an extract from USRRE about a real estate unit on paper for natural persons and public authorities will be 750 rubles, and in electronic form - 300 rubles. For legal entities, respectively – 2 200 rubles and 600 rubles. Thus, charge rates are increased from 3 to 5 times against the existing.
Presently Rosreestr prepares its technical and information resources to ensure proper satisfying the requirements of the Federal Law №218-FZ «On state registration of real estate».
The scale of this work is testified, though being a little out-of-date, by the information on the total number of issued extracts and statements from current Unified State Register of Rights on Real Estate and Transactions Therewith (USRRE). Thus, according to Rosreestr itself, more than 157 000 of such documents were given in 2010, and in 2011– more than 69 000.
Information Agency Credinform has prepared the ranking of the largest Russian perfume and cosmetics manufacturers by liabilities to assets ratio.
Previously, we have already referred to this category of producers in the ranking «Accounts payable turnover of manufacturers of perfumery products».
The largest enterprises (TOP-10) in terms of revenue were selected according to the data from the Statistical Register for the latest available period (for the year 2015). Then, the companies were ranged by liabilities to assets ratio (Table 1).
Liabilities to assets ratio (х) is calculated as a ratio of long-term and short-term borrowed funds to total assets and specifies the share of company’s assets, which is funded with borrowings.
The recommended value is from 0,2 to 0,5. The ratio higher than normative value testifies the excessive debt load, which may stimulate development as well as negatively influence on the sustainability of corporate finance. The ratio value lower than normative may indicate about conservative strategy of financial management and excessive caution in attracting new borrowed funds.
For the most full and fair opinion about the company’s financial position, the whole set of financial indicators and other ratios should be taken into account.
|Name, INN, Region||2015 net profit, mln RUB||2015 revenue, mln RUB||2015/2014revenue, %||Liabilities to assets ratio, (х)||Solvency index Globas-i|
|JSC NEVSKAYA COSMETICA
INN 7811038047 Saint-Petersburg
|3 007,0||12 737,6||122||0,09||162
INN 7826704356 Saint-Petersburg
INN 5001026970 Moscow
|3 097,5||12 782,4||161||0,37||151
|SOCIETE PAR ACTIONS FERMEE L`OREAL
INN 7726059896 Moscow
|2 001,8||42 395,4||116||0,54||203
INN 2631006752 Stavropol region
|ORIFLAME PRODUCTS, LLC
INN 5024055294 Moscow region
|JSC PARFYUMERNO-KOSMETICHESKAYA KOMPANIYA VESNA
INN 6311064600 Samara region
|LLC PERVOE RESHENIE
INN 7701298966 Moscow
|PAO KOSMETICHESKOE OB’EDINEBNIE SVOBODA
INN 7714078157 Moscow
INN 7721025967 Moscow
In 2015 the average liabilities to assets ratio of the TOP-10 companies amounted to 0,52. The same ratio of the TOP-100 companies amounted to 0,68 with average industry value 0,52.
There is only one enterprise in the TOP-10 list with the recommended value - JSC FABERLIC. There are 11 enterprises with the recommended ratio value in the TOP-100 list, 74 enterprises have the ratio above the recommended value and 15 companies have the ratio below the recommended value.
9 companies out of TOP-10 list have the highest and high solvency index Globas-i, that shows the ability of enterprises to meet their obligations in time and fully.
ORIFLAME PRODUCTS, LLC has satisfactory solvency index Globas-i due to information about participation as a defendant in arbitration court cases on debt collection, outstanding enforcement orders and losses in the balance.
According to 2015 results, the annual revenue of TOP-10 enterprises amounted to 97,5 bln RUB, that is 25% higher than total revenue in 2014. In addition to this, the total net profit of this group of companies increased by 53%. The only company from the group, which showed the decrease in net profit and loss - is ORIFLAME PRODUCTS, LLC. Total revenue of TOP-100 group of companies for the same period increased by 26%, while total net profit increased by 58%.
In general the industry of manufacture of perfume and cosmetics is relatively stable against the background of economy indicators as a whole. This testifies the data from the Federal State Statistics Service (Picture 2).
In addition to above, the dependence of production growth rate from the overall economic situation is observed (Picture 3).
*) – data for 6 months 2016 is given to the corresponding 2015 period
Manufacture of perfume and cosmetics significantly concentrates in the largest industrial centers of the country - Moscow, Moscow region and Saint-Petersburg. This fact is confirmed by the data from the Information and analytical system Globas-i on distribution across the country of 100 largest manufacturers of perfume and cosmetics in terms of 2015 revenue (TOP 7 of Regions):
|Region||The number of registered companies|
Thus, 71% of the largest perfume and cosmetics manufacturers are concentrated in Moscow, Moscow region and Saint-Petersburg.