MIRA INFORM REPORT

 

 

Report Date :

25.09.2007

 

IDENTIFICATION DETAILS

 

Name :

RANDABERG INDUSTRIES AS

 

 

Registered Office :

Harestadvika, 4070 Randaberg No

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

1987

 

 

Com. Reg. No.:

946812250

 

 

Legal Form :

Private/Public Limited company

 

 

Line of Business :

Manufacture of builders' carpentry and joinery of metal

Manufacture of metal structures and parts of structures

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

 

Maximum Credit Limit :

1669000 NOK

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

RANDABERG INDUSTRIES AS

HARESTADVIKA

4070 RANDABERG NO

Tel. Number       +47--51412100

Fax number       +47--51418848

 

 

Business founded

00 1987

Business registered

08 December 1988 - Private/Public Limited company

Registration number,

946812250,

Legal form

Private/Public Limited company

Activities

Manufacture of builders' carpentry and joinery of metal

 

Manufacture of metal structures and parts of structures

 

 

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 1669000 NOK is advised

Employees (Business)

 36

Total share capital15 August 1998

NOK 5700000

Boardmembers

RETTEDAL OLE JARL   Chairman of the board

 

SIMONSEN OVE   Boardmember

 

OLSEN KJELL INGE   Boardmember

 

TVEDT ARILD MAGNE   Boardmember

Management

SIMONSEN OVE   Managing director

(Part-) Owner

RANYARD MARITIME AS   78 %   Shareholder

 

987531290   VESTERLI INVEST AS   20 %   Shareholder

 

SIMONSEN EIRIK   2 %   Shareholder

Parent company :

RANYARD MARITIME AS   78 %   

Authorized signature.

   The Chairman alone or two members jointly

 

 

 

Corporate balance sheet for the year: 01 January 2005 - 31 December 2005  in  NOK 

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

0,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

3.280.000,-

Subordinate loan capital

0,-

Total financial fixed assets

142.000,-

Total fixed assets

3.422.000,-

Inventories and work in progress (incl. prepayments)

664.000,-

Accounts receivable (trade)

22.298.000,-

Outstanding deposit on the subscribed capital, from which amount called

0,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

986.000,-

Total Current assets

26.226.000,-

Total assets incl. prepaid expenses and accrued income

29.648.000,-

Issued (subscribed) capital

5.700.000,-

Share premium account (capital reserve)

0,-

Profit reserves

5.427.000,-

Total equity (Shareholders' funds)

11.127.000,-

Minority interests

0,-

Total provisions

2.409.000,-

Long-term liabilities to credit institutions

0,-

Long-term payables to affiliated companies and to companies in which participations are held

0,-

Long-term Loans, Mortgage debts

0,-

Total long-term liabilities

0,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

5.090.000,-

Income and social tax liabilities

402.000,-

Current payables to affiliated companies and to companies in which participations are held

3.507.000,-

Total current liabilities

16.112.000,-

Total liabilities

16.112.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

29.648.000,-

Operating margin

8,-

Current ratio

2,-

Equity ratio

38,-

Debt-equity ratio

2,-

Interest Cover

34,-

Cash flow

7,-

Stock financing

1.523,-

Return on equity

41,-

Total return

22,-

 

Corporate balance sheet for the year: 01 January 2004 - 31 December 2004  in  NOK 

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

0,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

2.266.000,-

Subordinate loan capital

0,-

Total financial fixed assets

142.000,-

Total fixed assets

2.408.000,-

Inventories and work in progress (incl. prepayments)

507.000,-

Accounts receivable (trade)

13.485.000,-

Outstanding deposit on the subscribed capital, from which amount called

0,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

7.147.000,-

Total Current assets

22.162.000,-

Total assets incl. prepaid expenses and accrued income

24.570.000,-

Issued (subscribed) capital

5.700.000,-

Share premium account (capital reserve)

0,-

Profit reserves

1.710.000,-

Total equity (Shareholders' funds)

7.410.000,-

Minority interests

0,-

Total provisions

963.000,-

Long-term liabilities to credit institutions

0,-

Long-term payables to affiliated companies and to companies in which participations are held

0,-

Long-term Loans, Mortgage debts

0,-

Total long-term liabilities

0,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

3.964.000,-

Income and social tax liabilities

1.905.000,-

Current payables to affiliated companies and to companies in which participations are held

1.437.000,-

Total current liabilities

16.197.000,-

Total liabilities

16.197.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

24.570.000,-

Operating margin

12,-

Current ratio

1,-

Equity ratio

30,-

Debt-equity ratio

2,-

Interest Cover

41,-

Cash flow

10,-

Stock financing

1.177,-

Return on equity

66,-

Total return

29,-

 

Corporate balance sheet for the year: 01 January 2003 - 31 December 2003  in  NOK 

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

0,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

2.984.000,-

Subordinate loan capital

0,-

Total financial fixed assets

612.000,-

Total fixed assets

3.596.000,-

Inventories and work in progress (incl. prepayments)

279.000,-

Accounts receivable (trade)

11.855.000,-

Outstanding deposit on the subscribed capital, from which amount called

0,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

3.551.000,-

Total Current assets

17.544.000,-

Total assets incl. prepaid expenses and accrued income

21.140.000,-

Issued (subscribed) capital

5.700.000,-

Share premium account (capital reserve)

0,-

Profit reserves

1.486.000,-

Total equity (Shareholders' funds)

7.186.000,-

Minority interests

0,-

Total provisions

574.000,-

Long-term liabilities to credit institutions

75.000,-

Long-term payables to affiliated companies and to companies in which participations are held

0,-

Long-term Loans, Mortgage debts

0,-

Total long-term liabilities

75.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

8.461.000,-

Income and social tax liabilities

164.000,-

Current payables to affiliated companies and to companies in which participations are held

0,-

Total current liabilities

13.304.000,-

Total liabilities

13.379.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

21.139.000,-

Operating margin

6,-

Current ratio

1,-

Equity ratio

34,-

Debt-equity ratio

2,-

Interest Cover

8,-

Cash flow

5,-

Stock financing

1.520,-

Return on equity

29,-

Total return

15,-

 

Corporate profit and loss account for the year: 01 January 2005 - 31 December 2005  in  NOK 

Main revenue (sales/turnover)

80.997.000,-

Total operating income/revenue

81.013.000,-

Cost of materials (type of expenditure format)

-50.099.000,-

Personnel costs

-14.815.000,-

Depreciation

0,-

Total operating expenses

-74.935.000,-

Gross profit or loss after cost of materials or after cost of goods sold

6.078.000,-

Financial income

541.000,-

Financial expenses

-195.000,-

Result of ordinary operations

6.424.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-1.847.000,-

Net profit or loss

4.577.000,-

Appropriations

-4.577.000,-

 

Corporate profit and loss account for the year: 01 January 2004 - 31 December 2004  in  NOK 

Main revenue (sales/turnover)

55.935.000,-

Total operating income/revenue

56.107.000,-

Cost of materials (type of expenditure format)

-26.809.000,-

Personnel costs

-14.403.000,-

Depreciation

0,-

Total operating expenses

-49.156.000,-

Gross profit or loss after cost of materials or after cost of goods sold

6.952.000,-

Financial income

126.000,-

Financial expenses

-171.000,-

Result of ordinary operations

6.907.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-1.995.000,-

Net profit or loss

4.912.000,-

Appropriations

-4.912.000,-

 

Corporate profit and loss account for the year: 01 January 2003 - 31 December 2003  in  NOK 

Main revenue (sales/turnover)

54.745.000,-

Total operating income/revenue

55.001.000,-

Cost of materials (type of expenditure format)

-30.911.000,-

Personnel costs

-13.246.000,-

Depreciation

0,-

Total operating expenses

-51.884.000,-

Gross profit or loss after cost of materials or after cost of goods sold

3.117.000,-

Financial income

103.000,-

Financial expenses

-395.000,-

Result of ordinary operations

2.826.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-769.000,-

Net profit or loss

2.056.000,-

Appropriations

-2.056.000,-

 

Turnover for the period: 24 September 2007 - 24 September 2007  in  NOK 5.700.000,00

 Fully paid in share capital: 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

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