MIRA INFORM
REPORT
|
Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELKEM INTERNATIONAL AS |
|
|
|
|
Registered Office : |
Hoffsveien 65 B, 0377 Oslo 22450100 |
|
|
|
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Country : |
Norway |
|
|
|
|
Financials (as on) : |
2010 |
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|
|
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Date of Incorporation : |
12.12.1988 |
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|
|
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Com. Reg. No.: |
930924008 |
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|
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|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Wholesale trade, except of motor vehicles and motorcycles |
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 : |
982.080 NOK |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
Company Information
|
Basic Information |
|
|
Business Name |
ELKEM INTERNATIONAL AS |
|
Registered Company Name |
ELKEM INTERNATIONAL AS |
|
Company Registration
Number |
930924008 |
|
Country |
NORWAY |
|
Date of Company
Registration |
12/12/1988 |
|
Date of Starting
Operations |
01/01/1977 |
|
Legal Form |
Limited liability
company |
|
Company Status |
Active |
|
Currency of this Report |
NOK |
|
Principal Activity
Description |
WHOLESALE TRADE, EXCEPT
OF MOTOR VEHICLES AND MOTORCYCLES |
|
Contact Address |
HOFFSVEIEN 65 B, 0377
OSLO |
|
Contact Telephone Number |
22450100 |
Company Summary
|
Business Name |
ELKEM INTERNATIONAL AS |
|
Country |
NORWAY |
|
Company Registration
Number |
930924008 |
|
Main Activity |
WHOLESALE TRADE, EXCEPT
OF MOTOR VEHICLES AND MOTORCYCLES |
|
Activity Code |
4600000 |
|
Company Status |
Active |
CREDIT recommendation
Current Credit Limit: 982.080 NOK
DIRECTORS/MANAGEMENT
Directors/Managers
|
Current Directors |
||
|
Name |
Date of Birth |
Position |
|
HOLÅS ARNFINN |
11/09/1943 |
Member of the board |
|
STOKKE CHRISTIAN DAMON |
03/12/1950 |
Member of the board |
|
AUSTRHEIM SVEIN |
04/07/1973 |
Managing Director |
|
ØBERG GRIM TERJE |
09/06/1967 |
Chairman of the board of
directors |
NEGATIVE INFORMATION
Negative Information
|
No negative information
for this company. |
SHARE & SHARE CAPITAL
INFORMATION
Share Capital Structure
|
Issued Share Capital |
100.000 NOK |
|
Shareholders |
|
|
Name |
Share Percent |
|
No Shareholders for this
company. |
|
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure
|
Immediate Holding Parent |
|
|
Immediate Holding
Company Name |
ELKEM AS |
|
Immediate Holding
Company ID |
911382008 |
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Immediate Holding
Company Country |
NORWAY |
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Subsidary Companies |
||
|
Subsidiary Name |
Subsidiary ID |
Country |
|
INTERSOM HONG KONG |
NORWAY |
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|
ELKEM MADENCILIK |
NORWAY |
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|
ELKEM SHANGHAI |
NORWAY |
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|
EASTERN DESERT TRADING
& CONTRACTING |
NORWAY |
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|
Affiliated Companies |
||
|
Affiliate Name |
Affiliate ID |
Country |
|
ELKEM AS |
NORWAY |
911382008 |
|
ELKEM INTERNATIONAL AS |
NORWAY |
930924008 |
|
INTERSOM HONG KONG |
|
|
|
ELKEM MADENCILIK |
|
|
|
ELKEM SHANGHAI |
|
|
|
EASTERN DESERT TRADING
& CONTRACTING |
|
|
FINANCIAL INFORMATION
Financial Information
|
Profit and Loss |
|||
|
Financial Year |
2010 |
2009 |
2008 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
NOK |
NOK |
NOK |
|
Revenue |
157.163.000 |
97.408.000 |
120.863.000 |
|
Operating Costs |
-156.031.000 |
-96.845.000 |
-116.906.000 |
|
Operating Profit |
1.132.000 |
563.000 |
3.957.000 |
|
Wages & Salaries |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Financial Income |
10.405.000 |
15.150.000 |
6.142.000 |
|
Financial Expenses |
-9.538.000 |
-12.786.000 |
-13.665.000 |
|
Profit before Tax |
1.999.000 |
2.927.000 |
-3.566.000 |
|
Tax |
-567.000 |
-1.471.000 |
952.000 |
|
Profit after Tax |
1.999.000 |
2.927.000 |
-3.566.000 |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
1.432.000 |
1.456.000 |
-2.614.000 |
|
Balance Sheet |
|||
|
Financial Year |
2010 |
2009 |
2008 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
NOK |
NOK |
NOK |
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
0 |
0 |
0 |
|
Total Tangible Assets |
0 |
0 |
0 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
102.000 |
5.000 |
257.000 |
|
Total Intangible Assets |
102.000 |
5.000 |
257.000 |
|
Investments |
13.181.000 |
8.404.000 |
8.404.000 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed
Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
13.181.000 |
8.404.000 |
8.404.000 |
|
TOTAL FIXED ASSETS |
13.283.000 |
8.409.000 |
8.661.000 |
|
Total Inventories |
38.099.000 |
15.915.000 |
27.059.000 |
|
Trade Receivables |
4.259.000 |
0 |
102.000 |
|
Group Receivables |
6.902.000 |
27.217.000 |
19.309.000 |
|
Miscellaneous
Receivables |
2.497.000 |
19.926.000 |
16.908.000 |
|
Total Receivables |
13.658.000 |
47.143.000 |
36.319.000 |
|
Cash |
0 |
854.000 |
854.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
51.757.000 |
63.912.000 |
64.232.000 |
|
TOTAL ASSETS |
65.040.000 |
72.321.000 |
72.893.000 |
|
Trade Payables |
7.976.000 |
456.000 |
7.429.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans Or Finance |
0 |
0 |
0 |
|
Group Payables |
47.398.000 |
53.509.000 |
0 |
|
Miscellaneous
Liabilities |
1.482.000 |
963.000 |
23.000 |
|
TOTAL CURRENT
LIABILITIES |
56.856.000 |
54.928.000 |
7.452.000 |
|
Bank Liabilities Due
After 1 Year |
0 |
0 |
0 |
|
Other Loans Or Finance
Due After 1 Year |
0 |
0 |
0 |
|
Group Payables Due After
1 Year |
0 |
0 |
61.776.000 |
|
Miscellaneous
Liabilities Due After 1 Year |
0 |
0 |
0 |
|
TOTAL LONG TERM
LIABILITIES |
0 |
0 |
61.776.000 |
|
TOTAL LIABILITIES |
56.856.000 |
54.928.000 |
69.228.000 |
|
Called Up Share Capital |
100.000 |
100.000 |
100.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
0 |
0 |
0 |
|
TOTAL SHAREHOLDERS
EQUITY |
8.184.000 |
17.392.000 |
3.664.000 |
|
Other Financials |
|||
|
Working Capital |
-5.099.000 |
8.984.000 |
56.780.000 |
|
Net Worth |
8.082.000 |
17.387.000 |
3.407.000 |
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Ratios |
|||
|
Pre-Tax Profit Margin |
1.27 % |
3.00 % |
-2.95 % |
|
Return On Capital
Employed |
3.07 % |
4.05 % |
-4.89 % |
|
Return On Total Assets
Employed |
3.07 % |
4.05 % |
-4.89 % |
|
Return On Net Assets
Employed |
24.43 % |
16.83 % |
-97.30 % |
|
Sales/Net Working
Capital |
-30.82 |
10.84 |
2.13 |
|
Stock Turnover Ratio |
67.01 % |
28.97 % |
363.11 % |
|
Debtor Days |
9.89 |
|
0.31 |
|
Creditor Days |
18.52 |
1.71 |
22.44 |
|
Current Ratio |
0.90 |
1.20 |
8.60 |
|
Liquidity Ratio/Acid
Test |
0.24 |
0.87 |
4.99 |
|
Current Debt Ratio |
6.95 |
3.16 |
2.03 |
|
Gearing |
|
|
1686.03 % |
|
Equity In Percentage |
|
|
|
|
Total Debt Ratio |
6.90 |
3.20 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Activities |
|
|
Activity Code |
Activity Description |
|
4600000 |
WHOLESALE TRADE, EXCEPT
OF MOTOR VEHICLES AND MOTORCYCLES |
|
4670000 |
Other specialised
wholesale |
|
4671000 |
Wholesale of solid,
liquid and gaseous fuels and related pro |
|
Previous Names |
|
Previous Name |
|
ELKEM SPIGERVERKET
INTERNATIONAL AS |
Contact Information
|
Main Address |
||
|
Address |
Country |
Telephone |
|
HOFFSVEIEN 65 B, 0377
OSLO |
NORWAY |
22450100 |
|
Other Address |
|
|
Address |
Country |
|
PB 5211
MAJORSTUA, 0303 OSLO |
NORWAY |
|
Email Addresses |
|
No information for this
company. |
|
Web Pages |
|
No information for this
company. |
Other Information
|
Employee Information |
|
|
Year |
Number of Employees |
|
No employee information
for this company. |
|
|
Bankers |
|
No banker information
for this company. |
|
Advisors |
|
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Auditor Name |
ERNST & YOUNG AS |
Additional Information
|
Other Information |
|
|
Company Purpose |
HANDEL OG AGENTUR SAMT
VIRKSOMHET I FORBINDELSE HERMED. SAMT DELTA I ANDRE SELSKAPER. |
|
Comment |
|
|
Other Financial
Information |
|
|
Managing Director Salary |
0 |
|
Overdraft |
|
|
Auditors Report |
|
|
Date of Financials |
31/12/2010 |
|
Auditors Comment |
NORMAL REPORT |
|
Auditors Comment 2 |
|
|
Auditors Comment 3 |
|
|
Auditors Comment 4 |
|
|
Event History |
|
|
Event Date |
Event Description |
|
05/05/2011 |
RATING CALCULATED |
|
11/09/2010 |
RATING CALCULATED |
|
21/04/2010 |
MEMBER OF THE BOARD
CHANGED |
|
21/04/2010 |
CHAIRMAN OF THE BOARD
CHANGED |
|
19/03/2010 |
RATING CALCULATED |
|
18/03/2010 |
CHANGE IN REMARK |
|
09/03/2010 |
RATING CALCULATED |
|
09/03/2010 |
CHANGE IN REMARK |
|
22/09/2009 |
RATING CALCULATED |
|
15/08/2008 |
RATING CALCULATED |
|
02/10/2007 |
RATING CALCULATED |
|
Bankruptcy Prediction |
|
|
Score |
3.17 |
|
Explanation |
Green zone |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.53 |
|
Euro |
1 |
Rs.64.36 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.