MIRA INFORM REPORT

 

 

Report Date :           

14.03.2011

 

IDENTIFICATION DETAILS

 

Name :

HASLE INDUSTRIES A S

 

 

Registered Office :

Almindingsvej 76, 3700 Rønne

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.04.1992

 

 

Com. Reg. No.:

20223707 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of refractory products

 

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 :

Estimated 1.500.000 DK

 

 

Status :

Satisfactory

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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                  HASLE INDUSTRIES A/S

Main address               ALMINDINGSVEJ 76

City                              3700 RØNNE

Country                        Denmark

Phone-no.                    +45-56-951800

Fax-no.                                    +45-56-953181

ID-/Reg.-no.                  20223707 A/S

Legal form                   Limited company

 

 

Activity

 

Activity             23.20 Manufacture of refractory products

 

No of employees empl 30

 

 

Management Information

 

 

Management           MICHAEL JØRGEN BLADT (Managing director)

 

Board of directors   JEPPE VANGSGAARD (Chairman of the board)

                     KAREN BLADT (Member of the board)

                     TORBEN BUCH RASMUSSEN (Member of the board)

                     SØREN VINTHER (Member of the board)

 

 

Historical Data

 

Established          1843

Registered           1992-04-01

 

 

Credit Facilities

 

Bankers              DANSKE BANK RØNNE AFDELING STORE TORV 12 3700 RØNNE

                    


 

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                 518.000         3.165.000          -781.000

Tax                             138.000           800.000          -203.000

Annual result                   380.000         2.365.000          -578.000

 

<* Assets *>

Fixed assets                 18.566.000        15.842.000        16.393.000

Current assets               20.309.000        25.346.000        20.352.000

 

<* Liabilities *>

Equity capital                7.801.000         8.912.000         6.542.000

Share capital                 4.000.000         4.000.000         4.000.000

Long-term debts              13.606.000        12.582.000        10.068.000

Short-term debts             16.612.000        18.977.000        20.134.000

 

 

Company Ratios

 

Gearing I                       -280,71           -455,40           -306,59

Acid test ratio I                122,25            133,56            101,08

Acid test ratio II                49,71             50,94             42,97

Return on investment               4,64             10,09              0,48

Return on equity                   6,64             35,51            -11,94

Solvency ratio                    20,07             21,64             17,80

 

 

Property

 

Property             Yes

 

Property ass. value  8.641.000 (Annual report)

 

Mortgaging I         Yes Total mortgaging 6.038.000

 

Corporate Structure

 

 

Parent company       DKB NR. 246 APS (ID:1103658) (100%)

Subsidiaries              HASLE REFRACTORIES (THAILAND) CO. LTD. (100%)

 

Secondary names(s)           HASLE ISOMAX A/S

                     HASLE REFRACTORIES A/S

                     HASLE TEKNIK A/S

 

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Credit limit         Estimated 1.500.000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.72.55

Euro

1

Rs.62.43

 

 

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

 

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.