MIRA INFORM
REPORT
|
Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
VATAN ENGROS AS |
|
|
|
|
Registered Office : |
Herslebs Gate 6, 0561 Oslo |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2009 |
|
|
|
|
Date of Incorporation : |
24.10.2000 |
|
|
|
|
Com. Reg. No.: |
982524067 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
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 : |
271.120 NOK |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Usually Correct |
|
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 |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
|
Business Name |
VATAN ENGROS AS |
|
Country |
NORWAY |
|
Company Registration Number |
982524067 |
|
Main Activity |
WHOLESALE TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES |
|
Activity Code |
4600000 |
|
Company Status |
Active |
|
Latest Turnover Figure |
40.800.000 NOK |
|
Latest Shareholder Equity Figure |
3.389.000 NOK |
|
Basic
Information |
||
|
Business Name |
VATAN ENGROS AS |
|
|
Registered Company Name |
VATAN ENGROS AS |
|
|
Company Registration Number |
982524067 |
|
|
Country |
NORWAY |
|
|
Date of Company Registration |
24/10/2000 |
|
|
Date of Starting Operations |
01/01/2000 |
|
|
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 |
HERSLEBS GATE 6, 0561 OSLO |
|
|
Contact Telephone Number |
22653677 |
|
|
Activities |
||
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Activity Code |
Activity
Description |
|
|
4600000 |
WHOLESALE TRADE, EXCEPT OF MOTOR VEHICLES AND MOTORCYCLES |
|
|
4630000 |
Wholesale of food, beverages and tobacco |
|
|
4631000 |
Wholesale of fruit and vegetables |
|
CREDIT recommendation
Current Credit Limit: 271.120 NOK
DIRECTORS/MANAGEMENT
Directors/Managers
|
Current
Directors |
||
|
Name |
Date of Birth |
Position |
|
AYHAN OSMAN |
25/05/1972 |
Member of the board |
|
AYHAN RAMAZAN |
11/03/1947 |
Member of the board |
|
KUYU SEHER |
11/08/1970 |
Member of the board |
|
AYHAN RAMAZAN |
11/03/1947 |
Managing Director |
|
KUYU YASAR HANIM |
02/11/1966 |
Chairman of the board of directors |
NEGATIVE INFORMATION
|
Bankruptcy Prediction |
|
|
Score |
3.47 |
|
Explanation |
Green zone |
Negative
Information
|
Payment Remarks |
|
|
Date |
28/03/2011 |
|
Type |
DEBT COLLECTION CASE |
|
Source |
KREDITTGJENVINNING AS |
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Status |
UNSETTLED |
|
Case Number |
173738 |
|
Amount |
1592 |
|
Settlement Date |
|
|
Name of Creditor |
DSV AIR & SEA AS |
|
Type of Payment Remark |
FORCED |
|
Date |
02/02/2011 |
|
Type |
DEBT COLLECTION CASE |
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Source |
KREDITTGJENVINNING AS |
|
Status |
UNSETTLED |
|
Case Number |
167461 |
|
Amount |
28058 |
|
Settlement Date |
|
|
Name of Creditor |
DSV AIR & SEA AS |
|
Type of Payment Remark |
FORCED |
|
Date |
10/10/2008 |
|
Type |
DEBT COLLECTION CASE |
|
Source |
LINDORFF AS |
|
Status |
DELVIS OPPGJORT |
|
Case Number |
16110727 |
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Amount |
238 |
|
Settlement Date |
|
|
Name of Creditor |
EUGEN JOHANSEN AS |
|
Type of Payment Remark |
FORCED |
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 |
VATAN HOLDING AS |
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Immediate Holding Company ID |
982524016 |
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Immediate Holding Company Country |
NORWAY |
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Subsidary Companies |
||
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Subsidiary Name |
Subsidiary ID |
Country |
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No subsidaries for this company. |
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Affiliated Companies |
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Affiliate Name |
Affiliate ID |
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No affiliates for this company. |
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FINANCIAL INFORMATION
|
Profit
and Loss |
||||||||||||
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Financial Year |
2009 |
2008 |
2007 |
|||||||||
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Number of Weeks |
52 |
52 |
52 |
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Currency |
NOK |
NOK |
NOK |
|||||||||
|
Revenue |
40.800.000 |
41.116.000 |
30.854.000 |
|||||||||
|
Operating Costs |
-35.253.000 |
-40.337.000 |
-32.395.000 |
|||||||||
|
Operating Profit |
5.547.000 |
778.000 |
-1.541.000 |
|||||||||
|
Wages & Salaries |
- |
- |
- |
|||||||||
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Depreciation |
-9.000 |
- |
- |
|||||||||
|
Financial Income |
319.000 |
1.432.000 |
41.000 |
|||||||||
|
Financial Expenses |
-461.000 |
-153.000 |
-55.000 |
|||||||||
|
Profit before Tax |
5.406.000 |
2.058.000 |
-1.555.000 |
|||||||||
|
Tax |
-219.000 |
-316.000 |
- |
|||||||||
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Profit after Tax |
5.406.000 |
2.058.000 |
-1.555.000 |
|||||||||
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Other Appropriations |
- |
- |
- |
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|
Retained Profit |
5.187.000 |
1.742.000 |
-1.555.000 |
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Balance Sheet |
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Financial Year |
2009 |
2008 |
2007 |
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|
Number of Weeks |
52 |
52 |
52 |
|||||||||
|
Currency |
NOK |
NOK |
NOK |
|||||||||
|
Land & Buildings |
0 |
0 |
0 |
|||||||||
|
Plant & Machinery |
0 |
0 |
0 |
|||||||||
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Other Tangible Assets |
37.000 |
0 |
0 |
|||||||||
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Total Tangible Assets |
37.000 |
0 |
0 |
|||||||||
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Goodwill |
0 |
0 |
0 |
|||||||||
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Other Intangible Assets |
0 |
0 |
0 |
|||||||||
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Total Intangible Assets |
0 |
0 |
0 |
|||||||||
|
Investments |
200.000 |
0 |
0 |
|||||||||
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Loans To Group |
0 |
0 |
0 |
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Other Loans |
0 |
0 |
0 |
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Miscellaneous Fixed Assets |
0 |
0 |
0 |
|||||||||
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Total Other Fixed Assets |
200.000 |
0 |
0 |
|||||||||
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TOTAL FIXED ASSETS |
237.000 |
0 |
0 |
|||||||||
|
Total Inventories |
11.963.000 |
9.217.000 |
8.590.000 |
|||||||||
|
Trade Receivables |
4.583.000 |
5.042.000 |
2.566.000 |
|||||||||
|
Group Receivables |
0 |
0 |
0 |
|||||||||
|
Miscellaneous Receivables |
3.568.000 |
1.597.000 |
2.703.000 |
|||||||||
|
Total Receivables |
8.151.000 |
6.638.000 |
5.269.000 |
|||||||||
|
Cash |
192.000 |
538.000 |
227.000 |
|||||||||
|
Other Current Assets |
0 |
0 |
0 |
|||||||||
|
TOTAL CURRENT ASSETS |
20.307.000 |
16.394.000 |
14.086.000 |
|||||||||
|
TOTAL ASSETS |
20.544.000 |
16.394.000 |
14.086.000 |
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|
Trade Payables |
6.538.000 |
5.792.000 |
6.661.000 |
|||||||||
|
Bank Liabilities |
419.000 |
507.000 |
384.000 |
|||||||||
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Other Loans Or Finance |
0 |
0 |
0 |
|||||||||
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Group Payables |
0 |
0 |
0 |
|||||||||
|
Miscellaneous Liabilities |
10.067.000 |
8.190.000 |
6.752.000 |
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|
TOTAL CURRENT LIABILITIES |
17.025.000 |
14.490.000 |
13.797.000 |
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|
Bank Liabilities Due After 1 Year |
0 |
0 |
0 |
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Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
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Group Payables Due After 1 Year |
0 |
0 |
0 |
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|
Miscellaneous Liabilities Due After 1 Year |
129.000 |
125.000 |
125.000 |
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|
TOTAL LONG TERM LIABILITIES |
129.000 |
125.000 |
125.000 |
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TOTAL LIABILITIES |
17.154.000 |
14.615.000 |
13.922.000 |
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|
Called Up Share Capital |
100.000 |
100.000 |
100.000 |
|||||||||
|
Share Premium |
0 |
0 |
0 |
|||||||||
|
Revenue Reserves |
3.289.000 |
1.679.000 |
64.000 |
|||||||||
|
TOTAL SHAREHOLDERS EQUITY |
3.389.000 |
1.779.000 |
164.000 |
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Other Financials |
||||||||||||
|
Working Capital |
3.282.000 |
1.904.000 |
289.000 |
|||||||||
|
Net Worth |
3.389.000 |
1.779.000 |
164.000 |
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Ratios |
||||||||||||
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Pre-Tax Profit Margin |
13.25 % |
5.01 % |
-5.04 % |
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|
Return On Capital Employed |
26.32 % |
12.55 % |
-11.04 % |
|||||||||
|
Return On Total Assets Employed |
26.31 % |
12.55 % |
-11.04 % |
|||||||||
|
Return On Net Assets Employed |
159.47 % |
115.68 % |
-948.17 % |
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|
Sales/Net Working Capital |
12.43 |
21.59 |
106.76 |
|||||||||
|
Stock Turnover Ratio |
70.27 % |
63.61 % |
62.26 % |
|||||||||
|
Debtor Days |
41.00 |
44.76 |
30.36 |
|||||||||
|
Creditor Days |
58.49 |
51.42 |
78.80 |
|||||||||
|
Current Ratio |
1.20 |
1.10 |
1.00 |
|||||||||
|
Liquidity Ratio/Acid Test |
0.49 |
0.50 |
0.40 |
|||||||||
|
Current Debt Ratio |
5.02 |
8.15 |
84.13 |
|||||||||
|
Gearing |
41900003.81 % |
50700007.03 % |
38400076.22 % |
|||||||||
|
Equity In Percentage |
16.66 % |
|
|
|||||||||
|
Total Debt Ratio |
5.10 |
8.20 |
|
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FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Contact
Information
|
Main Address |
||
|
Address |
Country |
Telephone |
|
HERSLEBS GATE 6, 0561 OSLO |
NORWAY |
22653677 |
|
Other Address |
|
|
Address |
Country |
|
Address unknown |
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 |
|
|
Auditor Name |
HK REGNSKAP OSLO AS |
Additional
Information
|
Other
Information |
|
|
Company Purpose |
ENGROS, IMPORT, EKSPORT MED KOLONIALVARER, FRUKT OG GRØNT. |
|
Comment |
|
|
Other Financial
Information |
|
|
Managing
Director Salary |
0 |
|
Overdraft |
|
|
Auditors Report |
|
|
Date of
Financials |
31/12/2009 |
|
Auditors Comment |
WEAKNESSES/LACK OF DOCUMENTATION AND INTERNAL CONTROL |
|
Auditors Comment
2 |
ANNUAL ACCOUNTS NOT SUBMITTED BY LEGAL DEADLINE |
|
Auditors Comment
3 |
|
|
Auditors Comment
4 |
|
|
Event History |
|
|
Event Date |
Event
Description |
|
24/05/2011 |
RATING CALCULATED |
|
24/05/2011 |
CHANGE IN REMARK |
|
19/03/2011 |
CHANGE IN REMARK |
|
19/03/2011 |
RATING CALCULATED |
|
17/03/2011 |
RATING CALCULATED |
|
10/03/2011 |
RATING CALCULATED |
|
26/02/2011 |
RATING CALCULATED |
|
17/02/2011 |
AUDITOR CHANGED |
|
02/01/2011 |
RATING CALCULATED |
|
07/12/2010 |
RATING CALCULATED |
|
17/11/2010 |
RATING CALCULATED |
|
29/09/2010 |
RATING CALCULATED |
|
18/09/2010 |
RATING CALCULATED |
|
17/09/2010 |
RATING CALCULATED |
|
17/10/2009 |
RATING CALCULATED |
|
06/10/2009 |
RATING CALCULATED |
|
02/07/2009 |
RATING CALCULATED |
|
01/05/2009 |
RATING CALCULATED |
|
28/04/2009 |
RATING CALCULATED |
|
25/04/2009 |
RATING CALCULATED |
|
21/04/2009 |
RATING CALCULATED |
|
04/04/2009 |
RATING CALCULATED |
|
11/01/2009 |
RATING CALCULATED |
|
03/01/2009 |
RATING CALCULATED |
|
23/12/2008 |
RATING CALCULATED |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
|
UK Pound |
1 |
Rs.70.95 |
|
Euro |
1 |
Rs.63.63 |
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.