MIRA INFORM REPORT

 

 

Report Date :

28.12.2012

 

IDENTIFICATION DETAILS

 

Name :

AIRCON AIR APS         

 

 

 

Registered Office :

Frederiksgade 21, 1 DK-1265 Copenhagen K       

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.08.2007

 

 

Com. Reg. No.:

CVR.-No.:30731476

 

 

Legal Form :

Private Limited Company under bankruptcy

 

 

Line of Business :

Trade and financial activities, including import of aircrafts for sale and/or lease within the European community. 

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Bankrupt

Payment Behaviour :

--

Litigation :

--

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Denmark

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

DENMARK - ECONOMIC OVERVIEW

 

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards of living in the world and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, continued to decline in 2011 though at a slower pace. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.8% in 2008 and 5.8% in 2009. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-11, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government plans to deliver a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU at 46.5% of GDP in 2011. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.

Source : CIA

summary

 

COMPANY’S NAME                            AIRCON AIR ApS           

 

ADDRESS                                         Frederiksgade 21, 1

                                                         DK-1265 COPENHAGEN K           

                                                           

TELEPHONE-NO                                +45 39 16 61 68   

 

TELEFAX-NO                                     +45 39 16 61 67   

 

LOCAL CURRENCY                           D K K

 

FOUNDATION                                    01.08.2007

                                                        

CENTRAL BUSINESS-REG-NO           CVR.-No.:30731476

 

COMPANY-REG-NO                           APS409050

 

EU-VAT-ID-NO                                   DK30 73 14 76     

 

LEGAL FORM                                    Private Limited Company under bankruptcy

 

SHARE CAPITAL                               EUR 17.000,00     

 

SHAREHOLDERS                              AIRON S.A., Luxembourg 

 

AUDITORS                                         BDO A/S

                                                         Havneholmen 29

                                                         1561 COPENHAGEN V

 

MANAGING DIRECTORS                    Mr. Mathieu Vincent Pouletty

                                                         Mr. Frederil Steen Westenholz      

 

AUTHORISED SIGNATORY                1 Director singly

                                                        

ACTIVITY                                           The Company’s object was to conduct trade

                                                         and financial activities, including import

                                                         of aircrafts for sale and/or lease within the

                                                         European community.       

 

EMPLOYEES                                    None

 

TURNOVER                                       2009 EUR 300.457,00

                                                         2010 EUR 154.606,00       

 

SUBSIDIARIES                                  None

 

 

FINANCIAL STANDING                       The financial situation became weaker since

                                                         2010.

                                                         Subject was declared into bankruptcy on 05.03.^     2012 by the Sea- and trade court in Copenhagen.                                      Solicitor is the lawyer Finn Jepsen

                                                         c/o Elmann Advokatpartnerselskab

                                                         Stockholmsgade 41

                                                         DK-2100 COPENHAGEN Ø

                                                         Tel. +45 33 37 63 30

                                                         Fax  +45 33 37 63 31

                                                         fij@elmann.dk

 

                                                         Further development should be followed.     

 

ACCOUNTS                                       See latest published balance-sheet on page 3.                   

REAL ESTATE                                   Facilities were rented.

 

PAYMENTS                                       See FINANCIALS 

 

BANKERS                                         Unknown

 

 

Financials

 

ACCOUNTS CLOSED AT                                  31.12.2010             31.12.2009               

 

EXTRACT IN EURO

 

PROFIT & LOSS ACCOUNT

                                                                           

OPERATING RESULTS                                   -307.505                -240.031                     

 

RESULTS BEFORE TAXES                                -7.393                     4.098

 

YEAR’S NET RESULT                                       -7.393                     4.098                    

 

TOTAL ASSETS                                                4.255.681              4.443.569               

 

ASSETS

 

FIXED ASSETS                                                 4.137.113          4.281.333

-Tangible assets                                                4.137.113          4.281.333

 

CURRENT ASSETS                                         118.568                 162.236

-Current receivables                                          110.708                 156.767

-Inventories                                                          0                           0

-Cash, bank etc.                                                  7.860                     5.469

 

EQUITY & LIABILITIES

 

SHORTTERM LIABILITIES                                346.713                 237.247

-Suppliers                                                        250.648                 189.497

 

LONGTERM LIABILITIES                                      3.870.564              4.160.525

                   

PROVISIONS/RESERVES                                 0                                  0

 

SHAREHOLDER’S EQUITY                               38.404                   45.797

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.84

UK Pound

1

Rs.88.55

Euro

1

Rs.72.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.