MIRA INFORM REPORT

 

 

Report Date :           

24.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ERLING CHRISTENSEN MØBLER AS

 

 

Registered Office :

Hørmestedvej 342, 9870 Sindal

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

03.03.1988

 

 

Com. Reg. No.:

75082517 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Retail sale of furniture, lighting equipment

 

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 :

Estimated 10.000.000 DK

Status :

Very good

Payment Behaviour :

Regular

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)

Denmark

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company ID

 

Main name                  ERLING CHRISTENSEN MØBLER A/S

Main address               HØRMESTEDVEJ 342

City                             9870 SINDAL

Country                        Denmark

Phone-no.                    +45-98-936155

Fax-no.                        +45-98-936955

Nat. partner ID-no.       184550

ID-/Reg.-no.                  75082517 A/S

Legal form                   Limited company

Company Status          Active

 

 

Activity

 

Activity        47.59 Retail sale of furniture, lighting equipment and o

                     47.53 Retail sale of carpets, rugs, wall and floor cover

                     43.34 Painting and glazing

                     47.78 Other retail sale of new goods in specialised stor

 

No of employees empl 46

 

 

Management Information

 

Management           ERLING ESTRUP CHRISTENSEN

 

Board of directors   BENTE MARIE PEDERSEN (Member of the board)

                     ERLING ESTRUP CHRISTENSEN (Member of the board)

                     MARTIN ESTRUP CHRISTENSEN (Member of the board)

 

 

Historical Data

 

Established          1984

 

Registered           1988-03-03

 

 

Credit Facilities

 

Bankers              NORDJYSKE BANK A/S SINDAL NØRREGADE 2 9870 SINDAL

 

Financial data

 

Currency             Danish Krone

 

<* *>

 

Closing date                 2009-12-31        2008-12-31        2007-12-31

 

Source                      Ann. report       Ann. report       Ann. report

 

Ordinary result              13.535.000         1.119.000         8.585.000

Tax                           3.091.000           475.000         2.194.000

Annual result                10.444.000           644.000         6.391.000

 

<* Assets *>

Fixed assets                  6.357.000         4.290.000         4.015.000

Current assets               65.107.000        55.561.000        56.919.000

 

<* Liabilities *>

Equity capital               68.375.000        57.979.000        57.383.000

Share capital                   500.000           500.000           500.000

Short-term debts              3.090.000         1.872.000         2.949.000

 

 

Company Ratios

 

Gearing I                          4,98              3,49              5,53

Acid test ratio I              2.107,02          2.968,00          1.930,11

Acid test ratio II             1.720,81          2.247,65          1.575,08

Return on investment              14,50             10,33             12,33

Return on equity                  19,80              1,93             14,96

Solvency ratio                    95,68             96,87             94,17

 

 

Property

 

Property             Yes

 

Property ass. value  1.235.000 (Annual report)

 

Mortgaging I         No

 

 

Corporate Structure

 

Shareholder          ERLING ESTRUP CHRISTENSEN (100%) (Shareholder)

 

Subsidiaries         ERLING CHRISTENSEN SINDAL APS (ID:306427) (100%)

 

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Credit limit         Estimated 10.000.000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.09

Euro

1

Rs.64.21

 

 

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%)

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.