MIRA INFORM REPORT

 

 

Report Date :

20.06.2012

 

IDENTIFICATION DETAILS

 

Name :

JASON ENGINEERING AS

 

 

Registered Office :

Gronland 76/82, Drammen, 3045

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1986

 

 

Com. Reg. No.:

942135610

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Subject is engaged in installing and servicing plumbing, heating, and air-conditioning equipment

 

 

No. of Employees :

30

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

Jason Engineering AS

Gronland 76/82

Drammen, 3045

Norway

Tel:       +47 32 20 45 50

Fax:      +47 32 20 45 60

Web:    www.jason.no

 

 

synthesis

           

Employees:                  30

Company Type:            Private Independent

Incorporation Date:         1986   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Norwegian Krone

Annual Sales:               19.8

Net Income:                  1.2

Total Assets:                 12.4

 

 

Business Description     

 

Jason Engineering AS is primarily engaged in installing and servicing plumbing, heating, and air-conditioning equipment. Contractors in this industry may provide both parts and labor when performing work. The work performed may include new work, additions, alterations, maintenance, and repairs.

 

Industry             

Industry            Construction Services

ANZSIC 2006:    323 - Building Installation Services

NACE 2002:      4533 - Plumbing

NAICS 2002:     238220 - Plumbing, Heating, and Air-Conditioning Contractors

UK SIC 2003:    4533 - Plumbing

US SIC 1987:    1711 - Plumbing, Heating and Air-Conditioning

 

           


Key Executives   

 

Name

Title

Baard Hoan

dagl.leder, leder

Arve Herstrøm

Finance Manager, Board Member

Svein Ă˜streng

Sales Director

Margreta Hoan

Administration Manager

 

Registered No.(NOR): 942135610

 

1 - Profit & Loss Item Exchange Rate: USD 1 = NOK 6.047155

2 - Balance Sheet Item Exchange Rate: USD 1 = NOK 5.8125

 

 

Corporate Overview

 

Location

Grønland 76/82

Drammen, 3045

Norway

Tel:       +47 32 20 45 50

Fax:      +47 32 20 45 60

Web:    www.jason.no

           

Sales NOK(mil):             119.4

Assets NOK(mil):           72.3

Employees:                   30

Fiscal Year End:            31-Dec-2010

Industry:                        Construction Services

Incorporation Date:         1986

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(NOR):     942135610

dagl.leder, leder:            Baard Hoan

 

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

31         -          Heavy and Civil Engineering Construction

1090     -          Other Mining Support Services

3299     -          Other Construction Services Not Elsewhere Classified

3109     -          Other Heavy and Civil Engineering Construction

323       -          Building Installation Services

10         -          Exploration and Other Mining Support Services

 

NACE 2002 Codes:

4525     -          Other construction work involving special trades

4533     -          Plumbing

1120     -          Service activities incidental to oil and gas extraction excluding surveying

14         -          Other Mining and Quarrying

453       -          Building installation

452       -          Building of complete constructions or parts thereof; civil engineering

4521     -          General construction of buildings and civil engineering works

 

NAICS 2002 Codes:

237       -          Heavy and Civil Engineering Construction

23799   -          Other Heavy and Civil Engineering Construction

237990  -          Other Heavy and Civil Engineering Construction

213112  -          Support Activities for Oil and Gas Operations

213111  -          Drilling Oil and Gas Wells

238220  -          Plumbing, Heating, and Air-Conditioning Contractors

2379     -          Other Heavy and Civil Engineering Construction

2131     -          Support Activities for Mining

238190  -          Other Foundation, Structure, and Building Exterior Contractors

213       -          Support Activities for Mining

21311   -          Support Activities for Mining

23822   -          Plumbing, Heating, and Air-Conditioning Contractors

 

US SIC 1987:

16         -          Heavy Construction Other Than Building Construction Contractors

1629     -          Heavy Construction, Not Elsewhere Classified

138       -          Oil and Gas Field Services

1389     -          Oil and Gas Field Services, Not Elsewhere Classified

1381     -          Drilling Oil and Gas Wells

1799     -          Special Trade Contractors, Not Elsewhere Classified

162       -          Heavy Construction, Except Highway and Street

1711     -          Plumbing, Heating and Air-Conditioning

 

UK SIC 2003:

4525     -          Other construction work involving special trades

4533     -          Plumbing

1120     -          Service activities incidental to oil and gas extraction excluding surveying

14         -          Other Mining and Quarrying

453       -          Building installation

452       -          Building of complete constructions or parts thereof; civil engineering

45213   -          Construction of civil engineering constructions

 

Business Description

Jason Engineering AS is primarily engaged in installing and servicing plumbing, heating, and air-conditioning equipment. Contractors in this industry may provide both parts and labor when performing work. The work performed may include new work, additions, alterations, maintenance, and repairs.

 

 

Financial Data

Financials in:

NOK(mil)

 

Revenue:

119.4

Net Income:

7.1

Assets:

72.3

Total Liabilities:

50.6

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

NA

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Arve Herstrøm

 

Finance Manager, Board Member

Director/Board Member

 

Baard Hoan

 

dagl.leder, leder

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Baard Hoan

 

dagl.leder, leder

Managing Director

 

Margreta Hoan

 

Administration Manager

Administration Executive

 

Arve Herstrøm

 

Finance Manager, Board Member

Finance Executive

 

Svein Ă˜streng

 

Sales Director

Sales Executive

 

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

NOK

NOK

NOK

Exchange Rate (Period Average)

6.047155

6.287787

5.651011

Consolidated

No

No

No

 

 

 

 

Total Revenue

19.8

22.4

17.6

Net Financial Items

0.3

-0.4

0.2

Operating Income

1.3

1.3

0.7

Income Before Tax

1.6

1.0

0.8

Net Income

1.2

0.7

0.6

 

Annual Balance Sheet

Financials in: USD (mil)

 

                                                                                      

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

NOK

NOK

NOK

Exchange Rate

5.8125

5.7768

7.0021

Consolidated

No

No

No

 

 

 

 

Total Assets

12.4

10.4

9.2

Total Liabilities

8.7

7.9

7.7

Total Equity

3.7

2.5

1.5

 

spacebar

Annual Ratios

 

 

                                                                                      

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

6.83

5.87

3.90

Current Ratio

1.33

1.21

1.09

Total debt/total equity

29.93

24.13

15.94

Return on average equity

32.66

29.75

33.63

 

 

Annual Growth Rates

 

 

 

 

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

-15.07%

41.21%

Net Financial Items Percent Change

174.17%

-350.56%

Operating Results Percent Change

-1.22%

112.50%

Profit/Loss Before Tax Percent Change

62.73%

26.25%

Profit/Loss for the Year Percent Change

62.98%

25.96%

Assets Percent Change

19.75%

-5.98%

Debts Percent Change

10.60%

-15.15%

Equity Capital Percent Change

48.50%

42.36%

Operating Margin Percent Change

16.35%

50.51%

Current Ratio Percent Change

9.92%

11.01%

Debt/Equity Ratio Percent Change

24.04%

51.38%

Retun On Equity Percent Change

9.78%

-11.54%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.87.85

Euro

1

Rs.70.54

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.