MIRA
INFORM REPORT
|
Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
J WANGSVIK AS |
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Registered Office : |
Øyaveien
71, 8373 Ballstad |
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Country : |
Norway |
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Financials (as on) : |
2010 |
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Date of Incorporation : |
10.09.1989 |
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Com. Reg. No.: |
929625870 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and Retail Trade and Repair of Motor Vehicles |
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No. of Employees : |
9 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
146.280 NOK |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Norway |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
Company Summary
Business Name J WANGSVIK AS
Country NORWAY
Company Registration
Number 929625870
Main Activity WHOLESALE AND RETAIL TRADE AND
REPAIR OF MOTOR VEHICLES AND
Activity Code 4500000
Company Status Active
Latest Turnover Figure 16.852.000
NOK
Latest Shareholder Equity Figure 1.219.000 NOK
Company Information
Basic
Information
Business Name J WANGSVIK AS
Registered
Company Name J
WANGSVIK AS
Company Registration
Number 929625870
Country NORWAY
Date of Company
Registration 10/09/1989
Date of Starting Operations 01 /01 /1980
Legal Form Limited liability company
Company Status Active
Currency of this Report NOK
Principal Activity Description WHOLESALE AND RETAIL TRADE AND
REPAIR OF MOTOR VEHICLES AND
Contact Address ØYAVEIEN
71, 8373 BALLSTAD
Contact
Telephone Number 76055090
CREDIT RECOMENDATION
Current Credit Limit: 146.280
NOK
DIRECTORS/MANAGEMENT
Directors/Managers
Current
Directors
Name Date of Birth Position
RIST BJØRN 08/01/1963 Member of the board
THOMASSEN FINN-TORE 27/02/1977 Member of the board
WANGSVIK JAN HARALD 04/04/ 1948
ABRAHAMSEN ROGER KETIL 01 /02/1964 Managing
Director
LARS
EN HANS HARRY 30/09/1955 Chairman of the board of directors
NEGATIVE INFORMATION
Negative Information
Payment Remarks
Date 14/03/2011
Type LEASING
AGREEMENT
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 0
Settlement Date
Name of Creditor DNB NOR BANK ASA
Type of Payment Remark VOLUNTARY
Date 09/01/2008
Type SECURITY
IN DEBTS
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 1000000
Settlement Date
Name of Creditor BALLSTAD MEKANISKE AS
Type of Payment Remark VOLUNTARY
Date 09/01/2008
Type SECURITY
IN DEBTS
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 1000000
Settlement Date
Name of Creditor JAWA
AS
Type of Payment Remark VOLUNTARY
Date 22/04/2002
Type SECURITY IN OPERATING EQUIPMENT
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 1000000
Settlement Date
Name of Creditor DEN NORSKE BANK ASA
Type of Payment Remark VOLUNTARY
Date 26/03/2002
Type SECURITY IN OPERATING EQUIPMENT
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 1000000
Settlement Date
Name of Creditor DEN NORSKE BANK ASA
Type of Payment Remark VOLUNTARY
Date 05/04/2001
Type INVENTORY GIVEN AS SECURITY
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 3000000
Settlement Date
Name of Creditor DEN NORSKE BANK ASA
Type of Payment Remark VOLUNTARY
Date 05/04/2001
Type SECURITY
IN DEBTS
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 2000000
Settlement Date
Name of Creditor DEN NORSKE BANK ASA
Type of Payment Remark VOLUNTARY
SHARE & SHARE CAPITAL
INFORMATION
Share Capital Structure
Issued Share Capital 1.000.000 NOK
Shareholders
Name Share Percent
No Shareholders for this company.
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group
Structure
Immediate
Holding Parent
Immediate Holding
Company Name JAWA
AS
Immediate Holding Company ID 889159022
Immediate Holding
Company Country NORWAY
Subsidary
Companies
Subsidiary Name Subsidiary ID Country
No subsidaries for this
company.
Affiliated
Companies
Affiliate Name Affiliate ID Country
BALLSTAD MEKANISKE AS NORWAY 987853557
FINANCIAL INFORMATION
Financial
Information
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Profit and
Loss |
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Financial Year |
2010 |
2009 |
2008 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
NOK |
NOK |
NOK |
|||
|
Revenue |
16.852.000 |
18.363.000 |
18.131.000 |
|||
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Operating Costs |
-15.341.000 |
-17.648.000 |
-16.634.000 |
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Operating Profit |
1.510.000 |
716.000 |
1.496.000 |
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Wages 8t Salaries |
-3.674.000 |
-3.721.000 |
-3.739.000 |
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Depreciation |
-153.000 |
-196.000 |
-125.000 |
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Financial Income |
65.000 |
12.000 |
15.000 |
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Financial Expenses |
-135.000 |
-140.000 |
-169.000 |
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Profit before Tax |
1.441.000 |
589.000 |
1.342.000 |
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Tax |
-403.000 |
-171.000 |
-375.000 |
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Profit after Tax |
1.441.000 |
589.000 |
1.342.000 |
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Other Appropriations |
- |
- |
- |
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Retained Profit |
1.038.000 |
418.000 |
966.000 |
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Balance Sheet |
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Financial Year |
2010 |
2009 |
2008 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
NOK |
NOK |
NOK |
|||
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Land 8t
Buildings |
103.000 |
132.000 |
161.000 |
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Plant 8t
Machinery |
0 |
368.000 |
459.000 |
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Other Tangible Assets |
279.000 |
0 |
43.000 |
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Total Tangible Assets |
382.000 |
500.000 |
663.000 |
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Goodwi ll |
0 |
0 |
0 |
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Other Intangible Assets |
181.000 |
173.000 |
168.000 |
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Total Intangible Assets |
181.000 |
173.000 |
168.000 |
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Investments |
181.000 |
181.000 |
181.000 |
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Loans To Group |
0 |
0 |
0 |
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Other Loans |
0 |
0 |
0 |
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Miscellaneous
Fixed Assets |
0 |
0 |
0 |
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Total Other Fixed Assets |
181.000 |
181.000 |
181.000 |
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TOTAL FIXED ASSETS |
744.000 |
854.000 |
1.012.000 |
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Total Inventories |
3.877.000 |
3.848.000 |
3.931.000 |
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Trade
Receivables |
1.943.000 |
2.334.000 |
2.022.000 |
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Group
Receivables |
0 |
0 |
115.000 |
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Miscellaneous
Receivables |
9.000 |
6.000 |
10.000 |
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Total Receivables |
1.951.000 |
2.339.000 |
2.147.000 |
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Cash |
208.000 |
136.000 |
192.000 |
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Other Current Assets |
0 |
0 |
0 |
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TOTAL CURRENT ASSETS |
6.036.000 |
6.323.000 |
6.269.000 |
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TOTAL ASSETS |
6.780.000 |
7.177.000 |
7.281.000 |
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Trade Payables |
1.283.000 |
1.376.000 |
1.723.000 |
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Bank Liabilities |
1.484.000 |
1.868.000 |
1.878.000 |
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Other Loans Or Finance |
0 |
0 |
0 |
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Group Payables |
390.000 |
0 |
390.000 |
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Miscellaneous Liabilities |
2.169.000 |
2.444.000 |
1.776.000 |
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TOTAL CURRENT LIABILITIES |
5.327.000 |
5.689.000 |
5.768.000 |
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Bank Liabilities Due After 1 Year |
234.000 |
306.000 |
0 |
|||
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Other Loans Or Finance Due After 1
Year |
0 |
0 |
0 |
|||
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Group Payables Due After 1 Year |
0 |
0 |
0 |
|||
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Miscellaneous Liabilities Due After
1 Year |
0 |
0 |
0 |
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TOTAL LONG
TERM LIABILITIES |
234.000 |
306.000 |
0 |
|||
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TOTAL LIABILITIES |
5.561.000 |
5.995.000 |
5.768.000 |
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Called Up Share Capital |
1.000.000 |
1.000.000 |
1.000.000 |
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Share Premium |
0 |
0 |
0 |
|||
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Revenue Reserves TOTAL SHAREHOLDERS EQUITY |
219.000 1.219.000 |
|
182.000 1.182.000 |
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513.000 1.513.000 |
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Other Financials |
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Working Capital |
709.000 |
|
634.000 |
|
501.000 |
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Net Worth |
1.038.000 |
|
1.009.000 |
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1.345.000 |
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Ratios |
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Pre-Tax Profit Margin |
8.55 |
% |
3.21 |
% |
7.40 % |
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Return On Capital Employed |
21.25 |
% |
8.21 |
% |
18.43 % |
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Return On Total Assets Employed |
21.25 |
% |
8.21 |
% |
18.43 % |
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Return On Net Assets Employed |
118.21 |
% |
49.83 |
% |
88.70 % |
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Sales/Net Working Capital |
23.77 |
|
28.96 |
|
36.19 |
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Stock Turnover
Ratio |
72.78 |
% |
67.64 |
% |
68.15 % |
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Debtor Days |
42.08 |
|
46.39 |
|
40.71 |
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Creditor Days |
27.79 |
|
27.35 |
|
34.69 |
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Current Ratio |
1.10 |
|
1.10 |
|
1.10 |
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Liquidity Ratio/Acid Test |
0.41 |
|
0.44 |
|
0.41 |
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Current Debt Ratio |
4.37 |
|
4.81 |
|
3.81 |
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Gearing |
148400019.20 |
% |
186800025.89 |
% |
187800000.00 % |
|
|
Equity In Percentage |
18.99 |
% |
17.32 |
% |
21.83 % |
|
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Total Debt Ratio |
4.60 |
|
5.10 |
|
3.80 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Activities
Activity Code Activity Description
4500000 WHOLESALE AND RETAIL TRADE AND
REPAIR OF MOTOR VEHICLES AND
4520000 Maintenance and repair of motor vehicles
4530000 Sale of motor vehicle parts and
accessories
4532000 Retail trade of motor vehicle parts and
accessories
4600000 WHOLESALE TRADE, EXCEPT OF MOTOR
VEHICLES AND MOTORCYCLES
4640000 Wholesale of household goods
4646000 Wholesale of pharmaceutical goods
4650000 Wholesale of information and communication equipment
4652000 Wholesale of electronic and
telecommunications equipment and
4660000 Wholesale of other machinery, equipment and supplies
4669000 Wholesale of other machinery and
equipment
4669200 Wholesale of shipping equipment and fishing tackle
Contact Information
Main Address
Address Country Telephone
ØYAVEIEN 71, 8373 BALLSTAD NORWAY 76055090
Other Address
Address Country
Address unknown NORWAY
Email
Addresses
No information
for this company.
Web Pages
Other Information
Employee
Information
Year Number
of Employees
2012 9
2011
9
2010 9
Bankers
No banker information for
this company.
Advisors
Auditor Name NORDNORSK REVISJON LEKNES AS
Additional Information
Other Information
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DRIVE
ASSORTERT HANDEL I FISKEREDSKAPER OG BÅT- UTSTYR, SAMT HVAD SOM STÅR I FORBINDELSE HERMED. |
Comment
Other
Financial Information
Managing Director Salary 0
Overdraft
Auditors Report
Date of Financials 31 / 12 /2010
Auditors Comment NORMAL REPORT
Auditors Comment 2
Auditors
Comment 3
Auditors Comment 4
Bankruptcy Prediction
Score 3.76
Explanation Green zone
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
|
1 |
Rs.79.09 |
|
Euro |
1 |
Rs.65.32 |
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.