MIRA INFORM REPORT

 

 

 

Report Date :

06.09.2008

 

IDENTIFICATION DETAILS

 

Name :

INTERSTIL INTERI!OR AS

 

 

Registered Office :

PB 162 4065 Stavanger 

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

15.11.2000

 

 

Com. Reg. No.:

982603110

 

 

Legal Form :

Private/Public Limited Company

 

 

Line of Business :

Wholesale of Miscellaneous Household Goods

 

 

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

 

Maximum Credit Limit :

NOK 2501000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

name & address

 

INTERSTIL INTERI!OR AS

 PB 162

 4065 STAVANGER NO

Tel. Number +47--51636930

Fax number +47—51636931

 

summary

 

Business founded                    00 2000

Business registered                 15 November 2000 - Private/Public Limited company

Registration number,               982603110,

Legal form                              Private/Public Limited company

 

 

Activities  

 

Wholesale of miscellaneous household goods

 

 

Payment experience

 

Payment regular

 

 

Credit opinion

 

High creditworthiness

Maximum credit limit 2501000 NOK is advised

 

 

Employees (Business)   

 

8

 

 

Total share capital

 

NOK 500000

 

 

Board members   

 

H!OILAND LEIF ARVID   Chairman of the board

H!OILAND LEIF ROAR   Board member

MARTINSEN FRODE VESTRE   Board member

 

 

Management   

 

MARTINSEN FRODE VESTRE   Managing director

 

 

(Part-) Owner 

 

946431605   H!OILAND HOLDING AS   70 %   Shareholder

988963402   J & J INVEST AS   30 %   Shareholder

 

 

Parent company

 

946431605   H!OILAND HOLDING AS   70 %   

 

 

Subsidiary company.    

 

983422519   M!OBELDRIFT AS   52 %   

 

 

Authorized signature.   

 

 The Chairman or the board jointly

 

                                            

 

 

 

Corporate balance sheet for the year: 01 January 2007 - 31 December 2007  in  NOK 

 

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

536.000,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

142.000,-

Subordinate loan capital

0,-

Total financial fixed assets

1.332.000,-

Total fixed assets

2.010.000,-

Inventories and work in progress (incl. prepayments)

20.703.000,-

Accounts receivable (trade)

11.873.000,-

Outstanding deposit on the subscribed capital, from which amount called

961.000,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

321.000,-

Total Current assets

38.253.000,-

Total assets incl. prepaid expenses and accrued income

40.263.000,-

Issued (subscribed) capital

500.000,-

Share premium account (capital reserve)

0,-

Profit reserves

16.178.000,-

Total equity (Shareholders' funds)

16.678.000,-

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

4.263.000,-

Current accounts payable (trade)

2.570.000,-

Income and social tax liabilities

2.751.000,-

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

0,-

Total current liabilities

23.585.000,-

Total liabilities

23.585.000,-

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

40.263.000,-

Operating margin

7,-

Current ratio

2,-

Equity ratio

41,-

Debt-equity ratio

1,-

Interest Cover

14,-

Cash flow

7,-

Stock financing

71,-

Return on equity

41,-

Total return

26,-

 

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

 

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

518.000,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

180.000,-

Subordinate loan capital

0,-

Total financial fixed assets

1.205.000,-

Total fixed assets

1.903.000,-

Inventories and work in progress (incl. prepayments)

19.407.000,-

Accounts receivable (trade)

11.172.000,-

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

313.000,-

Total Current assets

34.219.000,-

Total assets incl. prepaid expenses and accrued income

36.122.000,-

Issued (subscribed) capital

500.000,-

Share premium account (capital reserve)

0,-

Profit reserves

14.293.000,-

Total equity (Shareholders' funds)

14.793.000,-

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

8.461.000,-

Current accounts payable (trade)

2.920.000,-

Income and social tax liabilities

2.942.000,-

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

898.000,-

Total current liabilities

21.329.000,-

Total liabilities

21.329.000,-

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

36.122.000,-

Operating margin

7,-

Current ratio

2,-

Equity ratio

41,-

Debt-equity ratio

1,-

Interest Cover

12,-

Cash flow

8,-

Stock financing

66,-

Return on equity

55,-

Total return

33,-

 

 

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

 

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

443.000,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

341.000,-

Subordinate loan capital

0,-

Total financial fixed assets

815.000,-

Total fixed assets

1.599.000,-

Inventories and work in progress (incl. prepayments)

14.655.000,-

Accounts receivable (trade)

7.072.000,-

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

271.000,-

Total Current assets

23.828.000,-

Total assets incl. prepaid expenses and accrued income

25.427.000,-

Issued (subscribed) capital

500.000,-

Share premium account (capital reserve)

0,-

Profit reserves

11.220.000,-

Total equity (Shareholders' funds)

11.720.000,-

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

3.925.000,-

Current accounts payable (trade)

1.909.000,-

Income and social tax liabilities

3.524.000,-

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

1.589.000,-

Total current liabilities

13.707.000,-

Total liabilities

13.707.000,-

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

25.427.000,-

Operating margin

11,-

Current ratio

2,-

Equity ratio

46,-

Debt-equity ratio

1,-

Interest Cover

16,-

Cash flow

9,-

Stock financing

69,-

Return on equity

80,-

Total return

54,-

 

Corporate profit and loss account for the year: 01 January 2007 - 31 December 2007  in  NOK 

 

Main revenue (sales/turnover)

106.132.000,-

Total operating income/revenue

106.132.000,-

Cost of materials (type of expenditure format)

-79.172.000,-

Personnel costs

-3.005.000,-

Depreciation

0,-

Total operating expenses

-99.164.000,-

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

6.968.000,-

Financial income

3.403.000,-

Financial expenses

-753.000,-

Result of ordinary operations

9.619.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-2.733.000,-

Net profit or loss

6.885.000,-

Appropriations

-6.885.000,-

 

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

 

Main revenue (sales/turnover)

98.079.000,-

Total operating income/revenue

98.079.000,-

Cost of materials (type of expenditure format)

-74.716.000,-

Personnel costs

-2.722.000,-

Depreciation

0,-

Total operating expenses

-91.380.000,-

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

6.700.000,-

Financial income

5.195.000,-

Financial expenses

-956.000,-

Result of ordinary operations

10.939.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-2.866.000,-

Net profit or loss

8.073.000,-

Appropriations

-8.073.000,-

 

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

 

Main revenue (sales/turnover)

102.349.000,-

Total operating income/revenue

102.349.000,-

Cost of materials (type of expenditure format)

-75.303.000,-

Personnel costs

-2.153.000,-

Depreciation

0,-

Total operating expenses

-90.873.000,-

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

11.476.000,-

Financial income

2.164.000,-

Financial expenses

-828.000,-

Result of ordinary operations

12.812.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-3.446.000,-

Net profit or loss

9.366.000,-

Appropriations

-9.366.000,-

 

Turnover for the period: 05 September 2008 - 05 September 2008  in  NOK 500.000,00

 Fully paid in share capital: 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.37

UK Pound

1

Rs.78.09

Euro

1

Rs.63.41

 

 

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