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Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ADAX A/S |
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Registered Office : |
VESTRE HEDEVEJ 18, 4000 ROSKILDE,
ROSKILDE / SJÆLLAND |
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Country : |
Denmark |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Limited company |
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Line of Business : |
Wholesale of other household goods |
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No. of Employees : |
16 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Denmark |
A2 |
A2 |
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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 |
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Company name ADAX A/S |
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Address VESTRE HEDEVEJ 18 |
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City 4000 ROSKILDE |
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Municipality/County ROSKILDE / SJÆLLAND |
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Country Denmark |
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Phone-no. +45-43-444410 |
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Fax-no. +45-43-444420 |
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E-mail ADAX@ADAX.DK |
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www WWW.ADAX.DK |
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Nat. partner ID-no. 176668 |
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Official ID-no. 71231518 |
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Legal form Limited company |
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Company Status Active |
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Established 1982 |
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Latest change 2012-03-09 |
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Employees 16 (Ann. report) |
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Trade (NACE) 46.49 Wholesale of other household goods |
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Payment profile
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----------------------------------------------------------- |
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Tabel 1: Date of measuring: January 2012 |
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The business's Time of payment |
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mode of payment Days exceeding agreement |
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in relation to 3 mth 12 mth 24 mth |
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payment custom ----------------------------------------------------------- |
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The business's time of payment N/A 0,74 0,57 |
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Upper Quartile, Danish companies 0,00 0,17 0,36 |
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Median, Danish companies 0,38 1,10 1,48 |
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Lower Quartile, Danish companies 2,18 3,42 4,04 |
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----------------------------------------------------------- |
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----------------------------------------------------------- |
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Tabel 2: Month Total Within Outside |
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The business's From date exp. agreem. agreement |
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payment time ---------------------------------------- |
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0 1-7 8-29 30-59 60-89 90 - |
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days days days days days days |
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----------------------------------------------------------- |
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1 - 3 12 12 0 0 0 0 0 |
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4 - 6 6 6 0 0 0 0 0 |
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7 - 12 21 17 3 1 0 0 0 |
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1 - 12 39 35 3 1 0 0 0 |
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13 - 24 14 13 1 0 0 0 0 |
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----------------------------------------------------------- |
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----------------------------------------------------------- |
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Tabel 3: Interval Total Within Outside |
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The business's exp. agreem. agreement |
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mode of payment ---------------------------------------- |
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divid. in amount 1.000 0 1-7 8-29 30-59 60-89 90 - |
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last 12 months DKK (1.000) days days days days days days |
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----------------------------------------------------------- |
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100 - 8 6 1 1 0 0 0 |
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25 - 99 5 5 0 0 0 0 0 |
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10 - 24 0 0 0 0 0 0 0 |
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1 - 9 15 14 1 0 0 0 0 |
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0 - 1 11 10 1 0 0 0 0 |
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----------------------------------------------------------- |
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Financial data
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Currency Danish Krone (1.000) |
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Share Capital 1.000 |
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Closing date 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 |
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Source Ann. report |
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Profit and loss account
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Gross profit 21.087 17.009 22.676 24.204 22.375 |
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Personnel costs -8.318 -7.277 -10.800 -9.863 -8.581 |
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Depriciation -878 -1.323 -1.290 -1.042 -685 |
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Operating profit 4.518 1.336 1.386 2.980 2.550 |
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Financial income 2.144 1.270 72 946 388 |
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Financial expenses -627 -1.294 -5.651 -2.241 -1.273 |
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Financial items net 1.517 -24 -5.579 -1.295 -885 |
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Ordinary result 6.035 1.311 -4.192 1.685 1.665 |
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Pre-tax profit 6.035 1.311 -4.192 1.685 1.665 |
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Annual result 4.930 1.096 -3.881 1.317 1.363 |
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Assets
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Tangible fixed asset 1.083 1.744 3.030 3.459 2.884 |
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Financial fixed asse 1.276 836 546 750 803 |
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Fixed assets 2.359 2.580 3.576 4.209 3.687 |
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Inventories 11.799 11.145 17.526 18.099 20.259 |
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Debtors 8.002 7.710 6.849 11.144 12.246 |
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Cash in hand and at 2.573 382 67 2.104 2.769 |
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Current assets 23.366 23.185 29.000 34.324 37.262 |
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Liabilities
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Share capital 1.000 1.000 1.000 1.000 1.000 |
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Equity 11.143 6.204 5.400 11.292 9.974 |
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Creditors 1.702 3.214 3.735 3.033 3.344 |
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Short-term liabiliti 14.582 19.560 27.142 26.899 30.325 |
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Balance sheet
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Balance 25.725 25.765 32.576 38.533 40.949 |
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Ratios
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Primary result/emplo 282 74 63 135 134 |
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Ordinary result/empl 377 73 -191 77 88 |
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Net result/employee 377 73 -191 77 88 |
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Fixed assets/employe 147 143 163 191 194 |
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Staff charges/employ -520 -404 -491 -448 -452 |
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Capacity ratio 1,27 1,09 1,07 1,14 1,13 |
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Return on investment 17,56 5,19 4,25 7,73 6,23 |
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Operational leverage 4,67 12,73 16,36 8,12 8,77 |
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Wage ratio 39,45 42,78 47,63 40,75 38,35 |
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Acid test ratio I 160,24 118,53 106,85 127,60 122,88 |
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Acid test ratio II 79,32 61,55 42,27 60,32 56,07 |
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Solvency ratio 43,32 24,08 16,58 29,30 24,36 |
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Return on equity 1 54,16 21,13 -77,63 14,92 16,69 |
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Return on equity 2 54,16 21,13 -77,63 14,92 16,69 |
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Capital ratio 11,14 6,20 5,40 11,29 9,97 |
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Intrinsic value 1.114,30 620,40 540,00 1.129,20 997,40 |
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Gearing 1,31 3,15 5,03 2,41 3,11 |
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Accounting remarks 2006 Change of principles, figures not comparable |
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Management Information
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Management EUGEN SILFEN (General manager) |
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Board of directors EUGEN SILFEN (Member of the board) |
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HELLE RØRBÆK SILFEN (Member of the board) |
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- 2005-07-20 |
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BENTE RØRBÆK HEIBERG (Member of the board) |
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- 2011-06-01 |
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Auditor DELOITTE STATSAUTORISERET REVISIONS P/S (Auditor) |
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Credit Facilities
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Bankers NORDEA BANK DANMARK A/S VESTERBROGADE 8 POSTBOKS |
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- 850, 90 |
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Historical Data
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Established 1982 |
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Registered 2001-05-03 |
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Date Art. of assoc. 2008-05-13 |
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Capital history 2006-08-03 Share capital - new issue DKK 1.000.000 |
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2001-05-03 Share capital - new issue DKK 500.000 |
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1997-04-01 Share capital - new issue DKK 200.000 |
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Management history HENRYK FRIEDMAN (General manager) Resigned |
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- 1995-06-21 |
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Board history SAMUEL SILFEN (Member of the board) Resigned |
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- 1997-04-01 |
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HELLE RØRBÆK SILFEN (Chairman of the board) |
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- Resigned 2001-05-17 |
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KAJ FLEMMING RINGGREN (Member of the board) |
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- Resigned 2003-12-16 |
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SVEN-ERIK BLIXT (Chairman of the board) Resigned |
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- 2004-09-24 |
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CARSTEN KROGSLUND (Member of the board) Resigned |
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- 2007-11-16 |
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JØRGEN BO JOHANSEN (Chairman of the board) Resigned |
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- 2011-06-01 |
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DAG WINTHER SVENDSEN (Member of the board) Resigned |
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- 2011-06-01 |
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Previous Names ADAX SCANDINAVIA HANDELSHUSET AF 1982 APS |
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Queries 12 Credit Report |
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2012-03-12 Credit Report |
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2012-02-26 Credit Report |
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2012-01-31 Credit Report |
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2012-01-02 Credit Report |
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2011-11-28 Credit Report |
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2011-11-09 Credit Report |
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2011-10-31 Credit Report |
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2011-09-26 Credit Report |
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2011-08-28 Credit Report |
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2011-08-01 Credit Report |
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Corporate Structure
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Parent company ADAX HOLDING APS (ID:875097) (100%) |
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Subsidiaries ADAX SCANDINAVIA SP ZOO (100%) |
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ADAX NORWAY AS (100%) |
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Secondary names(s) CAVALET A/S |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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1 |
Rs.78.14 |
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Euro |
1 |
Rs.65.08 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.