MIRA INFORM REPORT

 

 

 

Report Date :

20.09.2008

 

IDENTIFICATION DETAILS

 

Name :

VATAN HOLDING AS

 

 

Registered Office :

Herslebsgate 0561 OSLO 

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

2000

 

 

Com. Reg. No.:

982524016

 

 

Legal Form :

Private/Public Limited Company

 

 

Line of Business :

Miscellaneous Financial Intermediation

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

 

 

name & address

 

VATAN HOLDING AS

 HERSLEBSGATE

 0561 OSLO NO

Tel. Number +47--22375583

Fax number +47--22370056

 

 

SUMMARY

 

Business founded      00 2000

Business registered   24 October 2000 - Private/Public Limited company

Registration number,      982524016,

Legal form                Private/Public Limited company

Activities                  No Match!

                               No Match!

                               Miscellaneous financial intermediation

Payment experience  Payment regular

 

 

Credit opinion

 

Normal creditworthiness

Total share capital     NOK 200000

 

 

Board members   

 

AYHAN RAMAZAN   Chairman of the board

KUYU YASAR HANIM   Board member

AYHAN OSMAN   Board member

KUYU SEHER   Board member

 

 

Management   

 

AYHAN RAMAZAN   Managing director

 

 

(Part-) Owner 

 

AYHAN RAMAZAN   85 %   Shareholder

KUYU SEHER   5 %   Shareholder

KUYU YASAR HANIM   5 %   Shareholder

AYHAN OSMAN   5 %   Shareholder

 

 

Subsidiary company.    

 

982524105   VATAN DETALJ AS   100 %   

982524067   VATAN ENGROS AS   100 %   

 

                              

 

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

0,-

Subordinate loan capital

0,-

Total financial fixed assets

200.000,-

Total fixed assets

200.000,-

Inventories and work in progress (incl. prepayments)

0,-

Accounts receivable (trade)

0,-

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

0,-

Total Current assets

701.000,-

Total assets incl. prepaid expenses and accrued income

901.000,-

Issued (subscribed) capital

200.000,-

Share premium account (capital reserve)

0,-

Profit reserves

680.000,-

Total equity (Shareholders' funds)

880.000,-

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

15.000,-

Total long-term liabilities

15.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

0,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

7.000,-

Total liabilities

22.000,-

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

902.000,-

Operating margin

0,-

Current ratio

100,-

Equity ratio

98,-

Debt-equity ratio

0,-

Interest Cover

-1,-

Cash flow

0,-

Stock financing

0,-

Return on equity

-1,-

Total return

-1,-

 

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

0,-

Subordinate loan capital

0,-

Total financial fixed assets

200.000,-

Total fixed assets

200.000,-

Inventories and work in progress (incl. prepayments)

0,-

Accounts receivable (trade)

0,-

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

1.000,-

Total Current assets

1.360.000,-

Total assets incl. prepaid expenses and accrued income

1.560.000,-

Issued (subscribed) capital

200.000,-

Share premium account (capital reserve)

0,-

Profit reserves

685.000,-

Total equity (Shareholders' funds)

885.000,-

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

15.000,-

Total long-term liabilities

15.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

0,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

660.000,-

Total liabilities

675.000,-

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

1.560.000,-

Operating margin

0,-

Current ratio

2,-

Equity ratio

57,-

Debt-equity ratio

1,-

Interest Cover

-1,-

Cash flow

0,-

Stock financing

0,-

Return on equity

-5,-

Total return

-1,-

 

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

0,-

Subordinate loan capital

0,-

Total financial fixed assets

200.000,-

Total fixed assets

200.000,-

Inventories and work in progress (incl. prepayments)

0,-

Accounts receivable (trade)

0,-

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

1.000,-

Total Current assets

2.133.000,-

Total assets incl. prepaid expenses and accrued income

2.333.000,-

Issued (subscribed) capital

200.000,-

Share premium account (capital reserve)

0,-

Profit reserves

1.386.000,-

Total equity (Shareholders' funds)

1.586.000,-

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

15.000,-

Total long-term liabilities

15.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

0,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

733.000,-

Total liabilities

748.000,-

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

2.334.000,-

Operating margin

0,-

Current ratio

3,-

Equity ratio

68,-

Debt-equity ratio

0,-

Interest Cover

0,-

Cash flow

0,-

Stock financing

0,-

Return on equity

131,-

Total return

89,-

 

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

 

Main revenue (sales/turnover)

0,-

Total operating income/revenue

0,-

Cost of materials (type of expenditure format)

0,-

Personnel costs

0,-

Depreciation

0,-

Total operating expenses

-14.000,-

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

-14.000,-

Financial income

1.000,-

Financial expenses

-11.000,-

Result of ordinary operations

-24.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

18.000,-

Net profit or loss

-6.000,-

Appropriations

6.000,-

 

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

 

Main revenue (sales/turnover)

0,-

Total operating income/revenue

0,-

Cost of materials (type of expenditure format)

0,-

Personnel costs

0,-

Depreciation

0,-

Total operating expenses

-22.000,-

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

-22.000,-

Financial income

0,-

Financial expenses

-18.000,-

Result of ordinary operations

-41.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

0,-

Net profit or loss

-41.000,-

Appropriations

41.000,-

 

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

 

Main revenue (sales/turnover)

0,-

Total operating income/revenue

0,-

Cost of materials (type of expenditure format)

0,-

Personnel costs

0,-

Depreciation

0,-

Total operating expenses

-19.000,-

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

-19.000,-

Financial income

2.101.000,-

Financial expenses

0,-

Result of ordinary operations

2.082.000,-

Extraordinary income

0,-

Extraordinary expenses

-4.000,-

Extraordinary result

-4.000,-

Taxes

0,-

Net profit or loss

2.078.000,-

Appropriations

-2.078.000,-

 

Turnover for the period: 14 May 2008 - 14 May 2008  in  NOK 200.000,00

 Fully paid in share capital: 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.32

UK Pound

1

Rs.83.57

Euro

1

Rs.65.90

 

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