MIRA INFORM REPORT
|
Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
KVILVANG AS |
|
|
|
|
Registered Office : |
Kortbølgen 1, 1630 Gamle Fredrikst |
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|
|
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Country : |
Norway |
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|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
08.02.2003 |
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|
|
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Com. Reg. No.: |
985284679 |
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|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Manufacture of motor vehicles, trailers and semi-Trailers |
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|
|
|
No. of Employees
: |
9 |
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 : |
1.216.200 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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Norway |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
Company Summary
Business Name KVILVANG AS
Country NORWAY
Company Registration
Number 985284679
Main Activity MANUFACTURE OF MOTOR VEHICLES,
TRAILERS AND SEMI-
TRAILERS
Activity Code 2900000
Company Status Active
Latest Turnover Figure 41.472.000
NOK
Latest Shareholder Equity Figure 8.108.000 NOK
Company
Information
Basic Information
Business Name KVILVANG AS
Registered Company Name KVILVANG AS
Company Registration
Number 985284679
Country NORWAY
Date of Company
Registration 08/02/2003
Date of Starting Operations 01 /01 /2002
Legal Form Limited liability company
Company Status Active
Currency of this Report NOK
Principal Activity Description MANUFACTURE OF MOTOR VEHICLES,
TRAILERS AND SEMI-
TRAILERS
Contact Address KORTBØLGEN 1, 1630 GAMLE FREDRIKST
Contact
Telephone Number 69358020
CREDIT RECOMENDATION
Current Credit Limit: 1.216.200 NOK
DIRECTORS/MANAGEMENT
Directors/Managers
Current Directors
Name Date of Birth Position
ARNESEN TORMOD 01/12/1947 Deputy
KVILVANG BERIT 27/11/1956 Member of the board
KVILVANG BERIT 27/11/1956 Owner
KVILVANG BJØRN 08/01/1958 Owner
KVILVANG BERIT 27/11/1956 Managing
Director
KVILVANG BJØRN 08/01/1958 Chairman
of the board of directors
NEGATIVE INFORMATION
Negative
Information
Date 18/08/2010
Type LEASING AGREEMENT
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 0
Settlement Date
Name of Creditor SG
FINANS AS
Type of Payment Remark VOLUNTARY
Date 15/03/2010
Type INVENTORY GIVEN AS SECURITY
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amou nt 2500000
Settlement Date
Name of Creditor TOLGA OS SPAREBANK
Type of Payment Remark VOLUNTARY
Date 06/03/2009
Type LEASING AGREEMENT
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 0
Settlement Date
Name of Creditor SG FINANS AS
Type of Payment Remark VOLUNTARY
Date 15/09/2005
Type SECURITY
IN DEBTS
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 6000000
Settlement Date
Name of Creditor SG FINANS AS
Type of Payment Remark VOLUNTARY
Date 21/11/2003
Type INVENTORY GIVEN AS SECURITY
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 2000000
Settlement Date
Name of Creditor TOLGA-OS SPAREBANK
Type of Payment Remark VOLUNTARY
Date 21/11/2003
Type SECURITY IN OPERATING EQUIPMENT
Source BRØNNØYSUNDREGISTRENE
Status UNSETTLED
Case Number
Amount 2000000
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
No group
structure for this company.
FINANCIAL INFORMATION
Financial
Information
|
Profit and Loss |
|
|
|
|
Financial Year |
2010 |
2009 |
2008 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
NOK |
NOK |
NOK |
|
Revenue |
41.472.000 |
34.861.000 |
33.174.000 |
|
Operating
Costs |
-40.248.000 |
-32.070.000 |
-30.085.000 |
|
Operating
Profit |
1.224.000 |
2.790.000 |
3.089.000 |
|
Wages 8t
Salaries |
-4.214.000 |
-2.723.000 |
-2.545.000 |
|
Depreciation |
-136.000 |
-143.000 |
-139.000 |
|
Financial
Income |
573.000 |
209.000 |
169.000 |
|
Financial
Expenses |
-1.205.000 |
-762.000 |
-462.000 |
|
Profit
before Tax |
591.000 |
2.238.000 |
2.795.000 |
|
Tax |
-171.000 |
-537.000 |
-748.000 |
|
Profit
after Tax |
591.000 |
2.238.000 |
2.795.000 |
|
Other Appropriations |
- |
- |
- |
|
Retained
Profit |
420.000 |
1.701.000 |
2.047.000 |
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|
|
|
|
|
Balance Sheet |
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|
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|
Financial Year |
2010 |
2009 |
2008 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
NOK |
NOK |
NOK |
|
Land 8t Buildings |
76.000 |
89.000 |
102.000 |
|
Plant 8t Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
376.000 |
291.000 |
287.000 |
|
Total
Tangible Assets |
453.000 |
380.000 |
389.000 |
|
Goodwi ll |
200.000 |
200.000 |
200.000 |
|
Other
Intangible Assets |
354.000 |
398.000 |
429.000 |
|
Total
Intangible Assets |
554.000 |
598.000 |
629.000 |
|
Investments |
1.070.000 |
543.000 |
1.274.000 |
|
Loans To
Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
0 |
|
Total Other
Fixed Assets |
1.070.000 |
543.000 |
1.274.000 |
|
TOTAL FIXED
ASSETS |
2.077.000 |
1.521.000 |
2.291.000 |
|
Total
Inventories |
8.235.000 |
8.684.000 |
8.463.000 |
|
Trade Receivables |
7.224.000 |
6.496.000 |
6.049.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Miscellaneous Receivables |
256.000 |
1.067.000 |
359.000 |
|
Total
Receivables |
7.480.000 |
7.563.000 |
6.407.000 |
|
Cash |
1.855.000 |
2.003.000 |
1.231.000 |
|
Other
Current Assets |
0 |
0 |
0 |
|
TOTAL
CURRENT ASSETS |
17.569.000 |
18.250.000 |
16.102.000 |
|
TOTAL
ASSETS |
19.646.000 |
19.771.000 |
18.393.000 |
|
Trade
Payables |
4.121.000 |
4.027.000 |
2.669.000 |
|
Bank
Liabilities |
3.714.000 |
3.473.000 |
3.716.000 |
|
Other Loans
Or Finance |
0 |
0 |
0 |
|
Group
Payables |
0 |
0 |
0 |
|
Miscellaneous
Liabilities |
2.297.000 |
1.792.000 |
1.885.000 |
|
TOTAL
CURRENT LIABILITIES |
10.133.000 |
9.291.000 |
8.270.000 |
|
Bank
Liabilities Due After 1 Year |
92.000 |
148.000 |
201.000 |
|
Other Loans
Or Finance Due After 1 Year |
0 |
0 |
0 |
|
Group
Payables Due After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
1.314.000 |
2.644.000 |
3.935.000 |
|
TOTAL LONG TERM LIABILITIES |
1.406.000 |
2.792.000 |
4.136.000 |
|
TOTAL
LIABILITIES |
11.539.000 |
12.083.000 |
12.406.000 |
|
Called Up
Share Capital |
1.000.000 |
1.000.000 |
1.000.000 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue Reserves TOTAL
SHAREHOLDERS EQUITY |
7.108.000 |
|
6.688.000 |
|
4.987.000 |
|
Other Financials |
|
|
|
|
|
|
Working
Capital |
7.436.000 |
|
8.959.000 |
|
7.832.000 |
|
Net Worth |
7.554.000 |
|
7.090.000 |
|
5.358.000 |
|
|
|
|
|
|
|
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Ratios |
|
|
|
|
|
|
Pre-Tax
Profit Margin |
1.43 |
% |
6.42 |
% |
8.43 % |
|
Return On Capital Employed |
3.01 |
% |
11.32 |
% |
15.20 % |
|
Return
On Total Assets Employed |
3.01 |
% |
11.32 |
% |
15.20 % |
|
Return On Net Assets Employed |
7.29 |
% |
29.11 |
% |
46.68 % |
|
Sales/Net
Working Capital |
5.58 |
|
3.89 |
|
4.24 |
|
Stock Turnover Ratio |
81.27 |
% |
93.47 |
% |
102.33 % |
|
Debtor
Days |
63.58 |
|
68.01 |
|
66.55 |
|
Creditor Days |
36.27 |
|
42.16 |
|
29.37 |
|
Current
Ratio |
1.70 |
|
2.00 |
|
1.90 |
|
Liquidity Ratio/Acid Test |
0.92 |
|
1.03 |
|
0.92 |
|
Current
Debt Ratio |
1.25 |
|
1.21 |
|
1.38 |
|
Gearing |
371400017.34 |
% |
347300036.32 |
% |
371600069.08 % |
|
Equity
In Percentage |
44.99 |
% |
41.27 |
% |
36.30 % |
|
Total Debt Ratio |
1.40 |
|
1.60 |
|
2.10 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Activities
Activity Code Activity Description
2900000 MANUFACTURE OF MOTOR VEHICLES,
TRAILERS AND SEMI-TRAILERS
2920000 Manufacture of bodies (coachwork) for motor vehicles;
manufa
Contact
Information
Main Address
Address Country Telephone
KORTBØLGEN 1, 1630 GAMLE FREDRIKST NORWAY 69358020
Other Address
Address Country
Address unknown NORWAY
Email Addresses
Web Pages
Other Information
Employee
Information
Year Number of
Employees
2012 9
2011 10
2010 10
Bankers
No banker
information for this company.
Advisors
Auditor Name RØMOEN REVISJON AS
Additional Information
Other Information
|
Company
Purpose |
IMPORT OG EKSPORT: PRODUKSJON, KJØP OG SALG AV BILTILHENGERE, SAMT ALT
SOM HØRER NATURLIG
INN UNDER DETTE. |
Comment
Other
Financial Information
Managing Director Salary 501000
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 3.87
Explanation Green zone
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
UK Pound |
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.