MIRA INFORM REPORT

 

 

 

Report Date :

05.08.2008

 

IDENTIFICATION DETAILS

 

Name :

NORSK NATURSTEIN AS

 

 

Registered Office :

Smedgata 0651 OSLO 

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

2001

 

 

Com. Reg. No.:

983192521

 

 

Legal Form :

Private/Public Limited company

 

 

Line of Business :

Cutting, Shaping and Finishing of Stone

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

name & address

 

NORSK NATURSTEIN AS

 SMEDGATA

 0651 OSLO NO

Tel. Number +47--23300530

Fax number +47--22678050

web-address WWW.GRAVSTENER.COM

 

 

Business founded    

 

00 2001

 

 

Business registered

 

03 April 2001 - Private/Public Limited company

 

 

Registration number

 

983192521,

 

 

Legal form

 

Private/Public Limited company

 

 

Activities  

 

2600

Cutting, shaping and finishing of stone

 

 

Payment experience

 

Payment incident

 

 

Credit opinion

 

No direct objections against entering into a business relationship.

With regard to the financial situation, we advise you to deal on cash-payment terms only.

 

Employees (Business)   

 

2

 

 

Debt collection .05 May 2008  

 

1140

 

 

Debt collection .05 May 2008  

 

855

 

 

L4:N   

 

ORDLANDSBANKEN ASA

 

 

Total share capital

 

NOK 100000

 

 

Board members   

 

S!EVES KARL ERIK   Chairman of the board

 

 

Management   

 

S!EVES KARL ERIK   Managing director

 

 

(Part-) Owner 

 

S!EVES KARL ERIK   100 %   Shareholder

 

 

Subsidiary company.    

 

NATURSTEN HANDEL I SVEA AB   100 %   

 

 

Authorized signature 

 

 The Chairman

                                                 

 

 

Corporate balance sheet for the year: 01 January 2006 - 31 December 2006  in  NOK 

Concessions and industrial rights, goodwill

1.242.000,-

Total intangible fixed assets

1.242.000,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

348.000,-

Subordinate loan capital

0,-

Total financial fixed assets

176.000,-

Total fixed assets

1.766.000,-

Inventories and work in progress (incl. prepayments)

1.360.000,-

Accounts receivable (trade)

951.000,-

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

201.000,-

Total Current assets

2.561.000,-

Total assets incl. prepaid expenses and accrued income

4.327.000,-

Issued (subscribed) capital

100.000,-

Share premium account (capital reserve)

0,-

Profit reserves

-1.252.000,-

Total equity (Shareholders' funds)

-1.152.000,-

Minority interests

0,-

Total provisions

0,-

Long-term liabilities to credit institutions

3.475.000,-

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

3.475.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

1.330.000,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

2.005.000,-

Total liabilities

5.480.000,-

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

4.328.000,-

Operating margin

-15,-

Current ratio

1,-

Equity ratio

-27,-

Debt-equity ratio

-5,-

Interest Cover

-5,-

Cash flow

-13,-

Stock financing

41,-

Return on equity

0,-

Total return

-27,-

 

 

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

32.000,-

Total tangible fixed assets

118.000,-

Subordinate loan capital

0,-

Total financial fixed assets

0,-

Total fixed assets

118.000,-

Inventories and work in progress (incl. prepayments)

303.000,-

Accounts receivable (trade)

19.000,-

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

94.000,-

Total Current assets

499.000,-

Total assets incl. prepaid expenses and accrued income

617.000,-

Issued (subscribed) capital

100.000,-

Share premium account (capital reserve)

0,-

Profit reserves

121.000,-

Total equity (Shareholders' funds)

221.000,-

Minority interests

0,-

Total provisions

6.000,-

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)

286.000,-

Income and social tax liabilities

38.000,-

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

0,-

Total current liabilities

391.000,-

Total liabilities

391.000,-

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

618.000,-

Operating margin

9,-

Current ratio

1,-

Equity ratio

36,-

Debt-equity ratio

2,-

Interest Cover

9,-

Cash flow

8,-

Stock financing

36,-

Return on equity

82,-

Total return

41,-

 

 

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

110.000,-

Subordinate loan capital

0,-

Total financial fixed assets

0,-

Total fixed assets

110.000,-

Inventories and work in progress (incl. prepayments)

123.000,-

Accounts receivable (trade)

15.000,-

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

60.000,-

Total Current assets

304.000,-

Total assets incl. prepaid expenses and accrued income

414.000,-

Issued (subscribed) capital

100.000,-

Share premium account (capital reserve)

0,-

Profit reserves

-60.000,-

Total equity (Shareholders' funds)

40.000,-

Minority interests

0,-

Total provisions

0,-

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)

170.000,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

374.000,-

Total liabilities

374.000,-

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

414.000,-

Operating margin

-11,-

Current ratio

1,-

Equity ratio

10,-

Debt-equity ratio

9,-

Interest Cover

0,-

Cash flow

-10,-

Stock financing

-57,-

Return on equity

-138,-

Total return

-13,-

 

 

Corporate profit and loss account for the year: 01 January 2006 - 31 December 2006  in  NOK 

 

Main revenue (sales/turnover)

7.729.000,-

Total operating income/revenue

7.729.000,-

Cost of materials (type of expenditure format)

-5.640.000,-

Personnel costs

-1.133.000,-

Depreciation

0,-

Total operating expenses

-8.905.000,-

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

-1.176.000,-

Financial income

12.000,-

Financial expenses

-214.000,-

Result of ordinary operations

-1.379.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

6.000,-

Net profit or loss

-1.373.000,-

Appropriations

1.373.000,-

 

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

Main revenue (sales/turnover)

2.460.000,-

Total operating income/revenue

2.468.000,-

Cost of materials (type of expenditure format)

-1.146.000,-

Personnel costs

-335.000,-

Depreciation

0,-

Total operating expenses

-2.238.000,-

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

230.000,-

Financial income

23.000,-

Financial expenses

-29.000,-

Result of ordinary operations

224.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-43.000,-

Net profit or loss

181.000,-

Appropriations

-181.000,-

 

 

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

 

Main revenue (sales/turnover)

509.000,-

Total operating income/revenue

509.000,-

Cost of materials (type of expenditure format)

-173.000,-

Personnel costs

-178.000,-

Depreciation

0,-

Total operating expenses

-564.000,-

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

-55.000,-

Financial income

0,-

Financial expenses

0,-

Result of ordinary operations

-55.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

0,-

Net profit or loss

-55.000,-

Appropriations

55.000,-

 

Turnover for the period: 04 August 2008 - 04 August 2008  in  NOK 100.000,00

 Fully paid in share capital: 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.00

UK Pound

1

Rs.82.14

Euro

1

Rs.65.09

 

 

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