MIRA INFORM REPORT

 

 

Report Date :           

07.03.2012

 

IDENTIFICATION DETAILS

 

Name :

BLEND AS

 

 

Registered Office :

Edisonvej 4, 7100 Vejle

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

31.07.1985

 

 

Com. Reg. No.:

76180113 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

No. of Employees :

86

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Estimated 1.500.000 DK

Status :

Moderate

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)

Denmark

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company identification details

 

Main name                    BLEND A/S

Main address                 EDISONVEJ 4

City                              7100 VEJLE

Country                                     Denmark

 Phone-no.                    +45-79-433000

 Nat. partner ID-no.         187430

 ID-/Reg.-no.                  76180113 A/S

 Legal form                    Limited company

 Company Status           Active

 Latest change               2012-02-17

 

 

Activity 

 

Activity             46.42 Wholesale of clothing and footwear

 

No of employees empl 86

 

 

Management Information 

 

Management                 TIM LUND LARSEN (Managing director)

 

Board of directors           JESPER IBÆK ROE (Chairman of the board)

                                    STEEN ENGELBRECHT REINHOLDT (Member of the board)

                                    TIM LUND LARSEN (Member of the board)

 

 

Historical Data 

 

Established          1985

 

Registered           1985-07-31

 

 

Credit Facilities 

 

Bankers              DANSKE BANK VEJLE AFDELING KIRKEGADE 21 7100 VEJLE

 

Financial data 

 

Currency             Danish Krone

 

<* *>

 

Closing date                 2010-12-31        2009-12-31        2008-12-31

 

Source                      Ann. report       Ann. report       Ann. report

 

Turnover                    409.149.000       508.892.000       764.229.000

Costs                       419.009.000       527.699.000       736.523.000

Ordinary result              -9.276.000       -22.775.000        27.918.000

Tax                          -2.327.000        -5.559.000         4.538.000

Annual result                -6.949.000       -17.216.000        23.380.000

 

<* Assets *>

Fixed assets                  2.039.000         8.368.000        21.977.000

Current assets              108.810.000       156.384.000       192.412.000

 

<* Liabilities *>

Equity capital                8.173.000          -649.000        62.265.000

Share capital                   530.000           530.000           530.000

Long-term debts                                 3.495.000         4.663.000

Short-term debts            102.675.000       161.906.000       147.462.000

 

 

Company Ratios 

 

Gearing I                      1.673,87         -1.834,32            377,59

Acid test ratio I                105,98             96,59            130,48

Acid test ratio II                75,01             66,48             98,09

Return on investment              -8,89            -11,42             12,92

Return on equity                -113,50          3.509,24             44,84

Solvency ratio                     7,37             -0,39             29,04

 

 

Property 

 

Property             No

 

 

Corporate Structure 

 

Parent company       BTX GROUP A/S (ID:134558) (100%)

 

Secondary names(s)   B.G. A/S

                     BLEND OF AMERICA A/S

                     BLUE GOOSE A/S

 

 

Payment profile 

 

Payment profile      Payment regular

 

 

Credit Summary 

 

Credit limit         Estimated 1.500.000

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.03

UK Pound

1

Rs.79.32

Euro

1

Rs.66.02

 

 

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.