MIRA INFORM
REPORT
|
Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
LUMIC AS |
|
|
|
|
Registered Office : |
Nedre Lunde, 5690 Lundegrend |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2009 |
|
|
|
|
Date of Incorporation : |
19.06.1995 |
|
|
|
|
Com. Reg. No.: |
974481308 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Fabricated Metal Products, Except Machinery |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
134.550 NOK |
|
|
|
|
Status : |
Very Good |
|
|
|
|
Payment
Behaviour : |
No Complaints |
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|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
Business Name |
LUMIC AS |
|
Country |
NORWAY |
|
Company Registration Number |
974481308 |
|
Main Activity |
MANUFACTURE OF FABRICATED METAL PRODUCTS,
EXCEPT MACHINERY A |
|
Activity Code |
2500000 |
|
Company Status |
Active |
|
Latest Turnover Figure |
5.630.000 NOK |
|
Latest Shareholder Equity Figure |
897.000 NOK |
|
Credit Limit |
134.550 NOK |
Company Information
|
Basic Information |
|
|
Business Name |
LUMIC AS |
|
Registered Company Name |
LUMIC AS |
|
Company Registration Number |
974481308 |
|
Country |
NORWAY |
|
Date of Company Registration |
19/06/1995 |
|
Date of Starting Operations |
01/01/1995 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
NOK |
|
Principal
Activity Description |
MANUFACTURE OF FABRICATED METAL PRODUCTS,
EXCEPT MACHINERY A |
|
Contact Address |
NEDRE LUNDE, 5690 LUNDEGREND |
|
Contact
Telephone Number |
53433192 |
|
Activities |
|
|
Activity Code |
Activity
Description |
|
2500000 |
MANUFACTURE OF FABRICATED METAL PRODUCTS,
EXCEPT MACHINERY A |
|
2510000 |
Manufacture of structural metal products |
|
2511000 |
Manufacture of metal structures and parts of structures |
|
2800000 |
MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. |
|
2820000 |
Manufacture of other general-purpose machinery |
|
2829000 |
Manufacture of other general-purpose machinery n.e.c. |
Financial Information
|
Profit and Loss |
|||
|
Financial Year |
2009 |
2008 |
2007 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
NOK |
NOK |
NOK |
|
Revenue |
5.630.000 |
5.685.000 |
5.801.000 |
|
Operating Costs |
-4.783.000 |
-6.148.000 |
-5.208.000 |
|
Operating Profit |
847.000 |
-464.000 |
594.000 |
|
Wages & Salaries |
-2.402.000 |
-2.390.000 |
-2.290.000 |
|
Depreciation |
-57.000 |
-104.000 |
-110.000 |
|
Financial Income |
6.000 |
3.000 |
2.000 |
|
Financial Expenses |
-64.000 |
-124.000 |
-106.000 |
|
Profit before Tax |
789.000 |
-585.000 |
489.000 |
|
Tax |
-220.000 |
165.000 |
-138.000 |
|
Profit after Tax |
789.000 |
-585.000 |
489.000 |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
569.000 |
-421.000 |
351.000 |
|
Balance Sheet |
|||
|
Financial Year |
2009 |
2008 |
2007 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
NOK |
NOK |
NOK |
|
Land & Buildings |
575.000 |
968.000 |
1.072.000 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
35.000 |
0 |
0 |
|
Total Tangible Assets |
610.000 |
968.000 |
1.072.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Investments |
62.000 |
62.000 |
2.000 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
62.000 |
62.000 |
2.000 |
|
TOTAL FIXED ASSETS |
672.000 |
1.030.000 |
1.074.000 |
|
Total Inventories |
1.481.000 |
1.381.000 |
1.392.000 |
|
Trade Receivables |
815.000 |
415.000 |
579.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Miscellaneous Receivables |
53.000 |
177.000 |
33.000 |
|
Total Receivables |
868.000 |
592.000 |
611.000 |
|
Cash |
137.000 |
109.000 |
643.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
2.485.000 |
2.082.000 |
2.646.000 |
|
TOTAL ASSETS |
3.157.000 |
3.112.000 |
3.720.000 |
|
Trade Payables |
178.000 |
146.000 |
325.000 |
|
Bank Liabilities |
243.000 |
536.000 |
0 |
|
Other Loans Or Finance |
0 |
0 |
0 |
|
Group Payables |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
712.000 |
518.000 |
768.000 |
|
TOTAL CURRENT LIABILITIES |
1.134.000 |
1.200.000 |
1.094.000 |
|
Bank Liabilities Due After 1 Year |
1.117.000 |
1.365.000 |
1.659.000 |
|
Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
|
Group Payables Due After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
10.000 |
0 |
0 |
|
TOTAL LONG TERM LIABILITIES |
1.127.000 |
1.365.000 |
1.659.000 |
|
TOTAL LIABILITIES |
2.261.000 |
2.565.000 |
2.753.000 |
|
Called Up Share Capital |
153.000 |
102.000 |
102.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
744.000 |
445.000 |
866.000 |
|
TOTAL SHAREHOLDERS EQUITY |
897.000 |
547.000 |
968.000 |
|
Other Financials |
|||
|
Working Capital |
1.351.000 |
882.000 |
1.552.000 |
|
Net Worth |
897.000 |
547.000 |
968.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
14.01 % |
-10.29 % |
8.43 % |
|
Return On Capital Employed |
24.98 % |
-18.80 % |
13.14 % |
|
Return On Total Assets Employed |
24.99 % |
-18.80 % |
13.15 % |
|
Return On Net Assets Employed |
88.06 % |
-106.95 % |
50.57 % |
|
Sales/Net Working Capital |
4.17 |
6.45 |
3.74 |
|
Stock Turnover Ratio |
130.60 % |
115.08 % |
127.24 % |
|
Debtor Days |
52.84 |
26.64 |
36.43 |
|
Creditor Days |
11.54 |
9.37 |
20.45 |
|
Current Ratio |
2.20 |
1.70 |
2.40 |
|
Liquidity Ratio/Acid Test |
0.89 |
0.58 |
1.15 |
|
Current Debt Ratio |
1.26 |
2.19 |
1.13 |
|
Gearing |
24300125.64 % |
53600249.54 % |
171.38 % |
|
Equity In Percentage |
28.98 % |
17.93 % |
26.04 % |
|
Total Debt Ratio |
2.50 |
4.70 |
|
Contact
Information
|
Main Address |
||
|
Address |
Country |
Telephone |
|
NEDRE LUNDE, 5690 LUNDEGREND |
NORWAY |
53433192 |
|
Other Address |
|
|
Address |
Country |
|
Address unknown |
NORWAY |
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
No information for this company. |
Share Capital
Structure
|
Issued Share Capital |
153.000 NOK |
|
Shareholders |
|
|
Name |
Share Percent |
|
No Shareholders for this company. |
|
Directors/Managers
|
Current Directors |
||
|
Name |
Date of Birth |
Position |
|
HAUGE HANSEN ERLING |
02/12/1943 |
Member of the board |
|
ROSSELAND GJERMUND |
27/11/1947 |
Member of the board |
|
HAUGE HANSEN ERLING |
02/12/1943 |
Owner |
|
ROSSELAND GJERMUND |
27/11/1947 |
Owner |
|
VOIE ODD MATHIAS FINN |
08/10/1935 |
Owner |
|
HAUGE HANSEN ERLING |
02/12/1943 |
Managing Director |
|
VOIE ODD MATHIAS FINN |
08/10/1935 |
Chairman of the board of directors |
Group Structure
|
Immediate Holding Parent |
|
No information for this company. |
|
Subsidiary Companies |
||
|
Subsidiary Name |
Subsidiary ID |
Country |
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No subsidiaries for this company. |
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|
|
Affiliated Companies |
||
|
Affiliate Name |
Affiliate ID |
Country |
|
LUMIC AS |
NORWAY |
974481308 |
|
LUSTRØM AS |
NORWAY |
981451783 |
|
LUSTRØM AS |
NORWAY |
981451783 |
Information
|
Employee Information |
|
|
Year |
Number of Employees |
|
2011 |
8 |
|
2010 |
8 |
|
2009 |
8 |
|
Bankers |
|
No banker information for this company. |
|
Advisors |
|
|
Auditor Name |
FAKTA REVISJON AS |
Additional Information
|
Other Information |
|
|
Company Purpose |
MEKANISK VERKSTAD, HERUNDER PRODUKSJON, REPARASJON OG HANDEL. |
|
Comment |
|
|
Other Financial Information |
|
|
Managing Director Salary |
434000 |
|
Overdraft |
|
|
Auditors Report |
|
|
Date of Financials |
31/12/2009 |
|
Auditors Comment |
NORMAL REPORT |
|
Auditors Comment 2 |
|
|
Auditors Comment 3 |
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|
Auditors Comment 4 |
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|
Event History |
|
|
Event Date |
Event Description |
|
27/07/2007 |
RATING CALCULATED |
|
05/04/2008 |
RATING CALCULATED |
|
10/06/2008 |
RATING CALCULATED |
|
05/06/2009 |
RATING CALCULATED |
|
28/07/2009 |
SHARE CAPITAL CHANGED |
|
11/11/2009 |
SHARE CAPITAL CHANGED |
|
06/05/2010 |
RATING CALCULATED |
|
Bankruptcy
Prediction |
|
|
Score |
3.82 |
|
Explanation |
Green zone |
Negative Information
|
Payment Remarks |
|
|
Date |
13/08/2001 |
|
Type |
SECURITY IN OPERATING EQUIPMENT |
|
Source |
BRØNNØYSUNDREGISTRENE |
|
Status |
UNSETTLED |
|
Case Number |
|
|
Amount |
3000000 |
|
Settlement Date |
|
|
Name of Creditor |
TYSNES SPAREBANK |
|
Type of Payment Remark |
VOLUNTARY |
|
Date |
01/09/1999 |
|
Type |
SECURITY IN DEBTS |
|
Source |
BRØNNØYSUNDREGISTRENE |
|
Status |
UNSETTLED |
|
Case Number |
|
|
Amount |
400000 |
|
Settlement Date |
|
|
Name of Creditor |
TYSNES SPAREBANK |
|
Type of Payment Remark |
VOLUNTARY |
|
Date |
01/09/1999 |
|
Type |
INVENTORY GIVEN AS SECURITY |
|
Source |
BRØNNØYSUNDREGISTRENE |
|
Status |
UNSETTLED |
|
Case Number |
|
|
Amount |
400000 |
|
Settlement Date |
|
|
Name of Creditor |
TYSNES SPAREBANK |
|
Type of Payment Remark |
VOLUNTARY |
|
Date |
23/10/1995 |
|
Type |
INVENTORY GIVEN AS SECURITY |
|
Source |
BRØNNØYSUNDREGISTRENE |
|
Status |
UNSETTLED |
|
Case Number |
|
|
Amount |
200000 |
|
Settlement Date |
|
|
Name of Creditor |
TYSNES SPAREBANK, UGGDAL. |
|
Type of Payment Remark |
VOLUNTARY |
|
Date |
23/10/1995 |
|
Type |
SECURITY IN DEBTS |
|
Source |
BRØNNØYSUNDREGISTRENE |
|
Status |
UNSETTLED |
|
Case Number |
|
|
Amount |
200000 |
|
Settlement Date |
|
|
Name of Creditor |
TYSNES SPAREBANK, UGGDAL |
|
Type of Payment Remark |
VOLUNTARY |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.85 |
|
UK Pound |
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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.