MIRA INFORM REPORT
|
Report Date : |
16.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
AS MYRE REDSKAPSSENTRAL |
|
|
|
|
Registered Office : |
Sommarøy, 8430 Myre |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
1967 |
|
|
|
|
Com. Reg. No.: |
918312501 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of shipping equipment and fishing tackle |
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 : |
320.000 NOK |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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) |
|
Norway |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company
name & address
AS MYRE REDSKAPSSENTRAL
SOMMARØY
8430 MYRE
All figures in NOK
Text: GOOD
CREDITWORTHINESS
Credit limit min.-max.: 0% - 10%
OF EQUITY
Max. credit amount: 320.000
LIMITED TO 3% OF TURNOVER
Turnover:
10.669.000 Trend:
Positive
Equity: 3.361.000 Trend: Positive
Result:
385.000 Trend:
Positive
Short-term debt:
1.554.000 Trend:
Positive
Financial expenses:
48.000 Trend: Positive
Share capital:
1.920.000
Legal status:
AS
Age of company:
44
Payment record:
IRREPROACHABLE
Voluntary mortgage:
YES
TREND
Date:
31.12.2009
31.12.2008
31.12.2007
Points: 68 66 67
Credit limit: 0 - 10% OF
EQUITY 0 - 10% OF EQUITY 0 - 10% OF EQUITY
Max credit: 320.000, 275.000, 288.000,
3% OF
TURNOVER 3% OF TURNOVER 3% OF TURNOVER
Turnover:
10.669.000 9.197.000 9.605.000
Equity: 3.361.000 3.073.000 2.951.000
Neg remarks NO NO NO
New remarks NO NO NO
BUSINESS
CERTIFICATE
Telephone: 76133172
Fax: 76134006
Legal status: AS (Limited Company)
Regno. 918312501
Established: 1967
Date registered: 11.10.89
Certificate date: 22.07.10
General manager: MARTINUSSEN
JØRN HER
Bank connection:
Employees: 2011: 5 2010: 5 2009: 5
Auditor: 993606650 BDO AS
INDUSTRY
(NACE)
4669200 WHOLESALE OF SHIPPING
EQUIPMENT AND FISHING TACKLE
4669000 WHOLESALE OF OTHER
MACHINERY AND EQUIPMENT
4660000 WHOLESALE OF OTHER
MACHINERY, EQUIPMENT AND SUPPLIES
5222100 OPERATION OF HARBOURS
AND PIERS
5222000 SERVICE ACTIVITIES
INCIDENTAL TO WATER TRANSPORTATION
5220000 SUPPORT ACTIVITIES FOR
TRANSPORTATION
5200000 WAREHOUSING AND SUPPORT
ACTIVITIES FOR TRANSPORTATION
4669400 WHOLESALE OF MACHINERY AND
EQUIPMENT FOR TRADE, TRANSPORT AN
4652000 WHOLESALE OF ELECTRONIC
AND TELECOMMUNICATIONS EQUIPMENT AND
4650000 WHOLESALE OF INFORMATION
AND COMMUNICATION EQUIPMENT
4642100 WHOLESALE OF
CLOTHING
4642000 WHOLESALE OF CLOTHING
AND FOOTWEAR
4641000 WHOLESALE OF
TEXTILES
4640000 WHOLESALE OF HOUSEHOLD
GOODS
4600000 WHOLESALE TRADE, EXCEPT
OF MOTOR VEHICLES AND MOTORCYCLES
4531000 WHOLESALE TRADE OF MOTOR
VEHICLE PARTS AND ACCESSORIES
4530000 SALE OF MOTOR VEHICLE
PARTS AND ACCESSORIES
4500000 WHOLESALE AND RETAIL
TRADE AND REPAIR OF MOTOR VEHICLES AND
BOARD
MARTINUSSEN JØRN HERMOD CHAIRMAN Born: 26.05.59
RINGVEIEN 17 8430 MYRE
EIKEBØ JØRN OLAV DEPUTY
CHAIRMAN Born: 07.08.62
PETTERSEN ASBJØRN KARL BOARD MEMBER Born: 12.04.35
HENRIKSEN LEIF HALFDAN DEPUTY MEMBER Born: 10.03.58
LIND BJØRN EIRIK DEPUTY MEMBER Born: 12.01.61
HELLESVIK JARL ÅGE DEPUTY MEMBER Born: 01.07.67
OWNERS
Name: Business no.: Percentage:
EIKEBØ JØRN OLAV 07.08.62 50.00
MARTINUSSEN JØRN HERMOD 26.05.59 50.00
SUBSIDIARIES
Name: Business
no.: Percentage:
CURRENT
ITEMS
Date: Source: Item:
05.08.10 CI NEW
CREDIT-RATING CALCULATED
12.08.09 CI NEW
CREDIT-RATING CALCULATED
27.06.08 CI NEW
CREDIT-RATING CALCULATED
26.06.08 CI NEW
CREDIT-RATING CALCULATED
05.04.08 CI NEW
CREDIT-RATING CALCULATED
06.07.07 CI NEW
CREDIT-RATING CALCULATED
NEGATIVE
PAYMENT REMARKS
Date: Type: Amount: Status:
18.01.02 SECURITY OPERATING
A 3.200.000
18.01.02 SECURITY OPERATING
A 2.500.000
23.11.87 FACTORING
AGREEMENT 3.200.000
03.11.87 SECURITY-WAREHOUSE
S 1.500.000
PROFIT/LOSS
ACC.
YEAR END:
31.12.2009
31.12.2008
31.12.2007
TOT.OPERAT.INCOME:
10.648.000
9.175.000 9.593.000
TOT.OPERAT.COSTS:
-10.237.000
-8.952.000 -9.193.000
OPERAT.PROF./LOSS:
411.000 223.000 399.000
TOT.FINANC.INCOME:
21.000 22.000 12.000
TOT.FINANC.COSTS:
-48.000 -65.000 -40.000
PROF/LOSS B. TAX:
385.000 179.000 371.000
YEAR TAX:
-97.000 -58.000 -84.000
ORD.PROFIT/LOSS:
288.000 121.000 287.000
TOT.EX.ORD. ITEMS:
0 0 0
PROF/LOSS F/YEAR:
288.000 121.000 287.000
TOTAL TRANSFERS:
-288.000 -121.000 -287.000
Subsidiaries
NOK NOK NOK
BALANCE
SHEET
Year End:
31.12.2009
31.12.2008
31.12.2007
TOT.CAPITAL ASSETS:
848.000 962.000 1.040.000
TOT.CURRENT ASSETS:
4.409.000 4.217.000 4.195.000
TOT.ASSETS:
5.257.000 5.179.000 5.235.000
TOT.SUBSCR. EQ.CAP.:
1.920.000 1.920.000 1.920.000
TOT.EARNED EQ.CAP.:
1.441.000 1.153.000 1.031.000
TOT.EQUITY CAPITAL:
3.361.000 3.073.000 2.951.000
TOT.LONG-TERM DEBT:
342.000 542.000 642.000
TOT.SHORT-TERM DEBT:
1.554.000 1.564.000 1.642.000
TOT.EQ.CAP. & LIABIL 5.257.000 5.179.000 5.235.000
Subsidiares
NOK NOK NOK
PROFIT/LOSS
ACC. DETAILS
Year End:
31.12.2009
31.12.2008
31.12.2007
Sales income:
10.648.000
9.175.000 9.593.000
Other income:
0 0 0
TOT.OPERAT.INCOME:
10.648.000
9.175.000 9.593.000
Cost of sales: -7.243.000 -5.780.000 -6.032.000
Stocks own goods:
0 0 0
Payroll costs:
-2.027.000
-2.102.000 -2.209.000
Depreciation:
-147.000 -153.000 -161.000
Writedown:
0 0 0
Bad debts:
0 0 0
Other op.costs:
-820.000 -917.000 -791.000
TOT.OPERAT.COSTS:
-10.237.000
-8.952.000 -9.193.000
OPERAT.PROF./LOSS:
411.000 223.000 399.000
Income f/inv.subs.:
0 0 0
Inc.f/inv.in.grou:
0 0 0
Inc.f/inv.ass.co:
0 0 0
Inc.groupinter:
0 0 0
Inc.Other interes:
0 0 0
Other fin.income:
21.000 22.000 12.000
TOTAL FIN.INCOME:
21.000 22.000 12.000
Val.fin.curr.ass.:
0 0 0
W.down curr.ass.:
0 0 0
W.down cap.ass.:
0 0 0
Intragroup charge: 0 0 0
Oth.interest charge:
-29.000 -43.000 -25.000
Oth.fin.costs:
-19.000 -22.000 -15.000
Agio/Disagio: 0 0 0
TOT.FIN. COSTS:
-48.000 -65.000 -40.000
TOT.FIN. COSTS:
-27.000 -43.000 -28.000
ORD.PROF/LOSS B.TAX.
385.000 179.000 371.000
Year Tax:
-97.000 -58.000 -84.000
ORDINARY PROFIT:
288.000 121.000 287.000
Ex.ord. income:
0 0 0
Ex.ord. costs:
0 0 0
Tax ex.ord.prof.:
0 0 0
TOT. EX.ORD. ITEMS:
0 0 0
PROF/LOSS THE YEAR:
288.000 121.000 287.000
Group contribut:
0 0 0
Dividend:
0 0 0
Reserve value.diff.:
0 0 0
Other equity cap.:
-288.000 -121.000 -287.000
TOTAL TRANSFERS:
-288.000 -121.000 -287.000
Subsidiares NOK NOK NOK
BALANCE
SHEET DETAILS
Year End:
31.12.2009
31.12.2008
31.12.2007
Research & dev. good 0 0 0
Deferred tax adv.:
0 0 0
TOT. INTANGIBL. ASS.
0 0 0
Prop.sites & build:
518.000 590.000 662.000
Machinery/plant.:
0 0 0
Ships/rigs/planes:
0 0 0
Moveables etc.:
320.000 361.000 367.000
TOTAL FIXED ASS.: 838.000 952.000 1.030.000
Invest.subsidiary:
0 0 0
Intragroup invest.:
0 0 0
Intragroup loans:
0 0 0
Invest.associ.co.:
0 0 0
Loans ass.co.:
0 0 0
Invest.shares:
10.000 10.000 10.000
Bonds/oth.receiv.:
0 0 0
Pension funds:
0 0 0
Subord.loan cap.:
0 0 0
TOT.FIN.CAP.ASS.:
10.000 10.000 10.000
Oth.cap.assets:
0 0 0
TOT.FIXED.ASSETS:
848.000 962.000 1.040.000
STOCKS:
2.887.000 2.776.000 3.112.000
Trade debtors:
1.378.000 1.278.000 888.000
Oth.acc.receiv.:
31.000 57.000 49.000
Intragroup receiv.:
0 0 0
Claims com. -cap.:
0 0 0
TOT.ACC.RECEIVABLE:
1.410.000 1.335.000 936.000
Share intra.gr.: 0 0 0
Market shares:
0 0 0
Market bonds:
0 0 0
Market fin.instr.: 0 0 0
Oth.fin.elements:
0 0 0
TOTAL INVESTMENTS:
0 0 0
Cash/Bank:
112.000 106.000 147.000
Other current ass.:
0 0 0
TOTAL CURRENT ASS.:
4.409.000 4.217.000 4.195.000
TOTAL ASSETS:
5.257.000 5.179.000 5.235.000
Company capital:
1.920.000 1.920.000 1.920.000
Own shares:
0 0 0
Share reserve:
0 0 0
TOT.INVES.EQ.CAP:
1.920.000 1.920.000 1.920.000
Reserve value-dif.:
0 0 0
Other equity cap.:
1.441.000 1.153.000 1.031.000
TOT.EARNED EQ.CAP.:
1.441.000 1.153.000 1.031.000
TOTAL EQUITY CAP.:
3.361.000 3.073.000 2.951.000
MINORITY INTEREST:
0 0 0
Pension liabil.:
0 0 0
Deferred tax:
0 0 0
Oth.prov.for liab.:
0 0 0
TOT.PROV.LIABLITY: 0 0 0
Convertible loans:
0 0 0
Bond loans:
0 0 0
Debt credit-insti.: 42.000 142.000 242.000
Subord.loan cap.:
0 0 0
Intragroup debt.:
0 0 0
Oth.longterm debt:
300.000 400.000 400.000
TOT.OTH.LONG.DEBT:
342.000 542.000 642.000
TOT.LONGTERM DEBT:
342.000 542.000 642.000
Convertible loans:
0 0 0
Certificate loans:
0 0 0
Debt credit-insti.:
205.000 86.000 0
Trade creditors:
883.000 1.006.000 879.000
Tax payable:
97.000 58.000 84.000
Unpaid public tax:
145.000 225.000 217.000
Dividend:
0 0 0
Intragroup debt:
0 0 0
Oth.short-t. debt:
224.000 190.000 462.000
TOT.SHORT-T. DEBT:
1.554.000 1.564.000 1.642.000
TOT.EC AND LIABIL.:
5.257.000 5.179.000 5.235.000
Subsidiares
NOK NOK NOK
KEY
FIGURES
Year End:
31.12.2009
31.12.2008
31.12.2007
Operating margin:
3.9 % 2.4 % 4.2 %
Current ratio:
2.8 2.7 2.6
Capital adequacy rat
63.9 % 59.3 % 56.4 %
Dept-equity ratio 0.6 0.7 0.8
Interest cover:
9 3.8 10.3
Cash flow:
4.1 % 3 % 4.7 %
Stock financing:
98.9 95.6 82
Return on equity:
8.5 % 4 % 9.7 %
Total return:
8.2 % 4.7 % 7.9 %
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.91 |
|
UK Pound |
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
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.