MIRA INFORM REPORT

 

 

Report Date :           

27.06.2011

 

IDENTIFICATION DETAILS

 

Name :

BRANDS OF SCANDINAVIA AS

 

 

Registered Office :

Kokbjerg 17, 6000 Kolding

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

15.01.2009

 

 

Com. Reg. No.:

31937817 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of clothing and footwear

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Estimated 250.000  DK

Status :

Moderate

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                  BRANDS OF SCANDINAVIA A/S

Main address               KOKBJERG 17

City                              6000 KOLDING

Country                        Denmark

 

Phone-no.                    +45-70-701119

Fax-no.                                    +45-70-701517

 

Nat. partner ID-no.       1552666

 

ID-/Reg.-no.                  31937817 A/S

           

Legal form                   Limited company

 

Company Status          Active

 

 

Activity

 

Activity             Wholesale of clothing and footwear

 

No of employees empl 0

 

 

Management Information

 

Management           NIELS HAAHR CHRISTENSEN

 

Board of directors   PETER KRISTENSEN (Chairman of the board)

                     SUSANNE BRÆNDGAARD (Member of the board)

                     NIELS HAAHR CHRISTENSEN (Member of the board)

 

Historical Data

 

Established          2009

 

Registered           2009-01-15

 

Credit Facilities

 

Bankers       NORDEA BANK DANMARK A/S ERHVERVSAFDELINGEN

                     - RENDEBANEN 13 6

 

 

Financial data

 

Currency             Danish Krone

 

<* *>

 

Closing date                 2010-12-31        2009-12-31

 

Source                      Ann. report       Ann. report

 

Ordinary result               1.199.000        -5.055.000

Tax                             319.000        -1.250.000

Annual result                   880.000        -3.805.000

 

<* Assets *>

Fixed assets                    551.000           784.000

Current assets               15.348.000        10.283.000

 

<* Liabilities *>

Equity capital                1.529.000         1.195.000

Share capital                   526.000           500.000

Short-term debts             14.371.000         9.872.000

 

 

Company Ratios

 

Gearing I                      1.469,43          2.401,95

Acid test ratio I                106,80            104,16

Acid test ratio II                76,82             74,68

Return on investment              13,10            -44,26

Return on equity                  78,42           -423,01

Solvency ratio                     9,62             10,80

 

 

Property

 

Property             No

Corporate Structure

 

Shareholder          PH 2007 APS (ID:1255328) (Shareholder)

 

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Credit limit         Estimated 250.000

 

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.89

Euro

1

Rs.64.09

 

 

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.