|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONTRAST
COMPANY AS |
|
|
|
|
Formerly Known As : |
CONTRAST AS |
|
|
|
|
Registered Office : |
Balticagade 7 DK-8000
AARHUS C |
|
|
|
|
Country : |
Denmark |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
08.01.1997 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale and Agency
trade in fashion wear and home textiles. |
|
|
|
|
No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Denmark |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
DENMARK - ECONOMIC OVERVIEW
This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards of living in the world and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, continued to decline in 2011 though at a slower pace. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.8% in 2008 and 5.8% in 2009. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-11, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government plans to deliver a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU at 46.5% of GDP in 2011. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.
Source
: CIA
COMPANY’S
NAME CONTRAST COMPANY A/S
ADDRESS Balticagade
7
DK-8000
AARHUS C
TELEPHONE-NO +45 87 44 87 33
TELEFAX-NO +45 86 75
33 65
E-MAIL-ADDRESS mail@contrast.dk
LOCAL CURRENCY D K K
FOUNDATION Business
originally started 08.01.1997 as
DK20
07 48 41 CONTRAST A/S. This company
changed
name into MHA 268268 A/S 29.09.2011
and
went into receivership.
Present
company was founded 30.09.2011.
CENTRAL
BUSINESS-REG-NO CVR.-No.:33954816
EU-VAT-ID-NO DK33 95 48 16
LEGAL FORM Private
Limited Company
SHARE CAPITAL DKK 1.000.000,00
PARENT COMPANY DK30 48 74 43
NOC
HOLDING ApS
Dalgas
Avenue 40
DK-8000
AARHUS C
AUDITORS SAMVIRKENDE
REVISORER A/S
Sønderbrogade
16
8700
HORSENS
BOARD OF DIRECTORS Advokat Jan Snogdal,
Chairman
Skolevangs Allé 55
8240 RISSKOV
Torben
Hartvigsen
Flakvej 17
8240 RISSKOV
Frank
Panduro
Søndergade
22
8700 HORSENS
Jesper
Hartvigsen
Byagervej 46A
8330
BEDER
MANAGING DIRECTOR Torben Hartvigsen
AUTHORIZED SIGNATUR The MD jointly with the
Chairman or the
Chairman
together with 1 BoD-member.
ACTIVITY Wholesale
and Agency trade in fashion wear and
home
textiles.
EMPLOYEES 25
TURNOVER Figures
are strictly confidential
GROSS RESULTS AS PER
30.06. 2012 DKK 12.558.501,00
SUBSIDIARIES None
FINANCIAL STANDING For the first year in
operation 30.09.2011 –
30.06.2012,
a net loss of DKK 881.327,00 was
recorded.
Equity still strong. However, the
short-term
liabilities compared with the
current
assets were to high, due to bankers
credits
used.
Further
development should be followed.
ACCOUNTS See
latest published balance-sheet on page 3.
REAL ESTATE Facilities
are rented.
PAYMENTS Nothing
detrimental has been noted
BANKERS Nordea
Bank Danmark A/S
ACCOUNTS CLOSED AT 30.06.2012
EXTRACT IN
1000 DKK
PROFIT & LOSS ACCOUNT
OPERATING
RESULTS -385
RESULTS
BEFORE TAXES -1.096
YEAR’S NET
RESULT -881
TOTAL
ASSETS 21.723
ASSETS
FIXED
ASSETS 11.194
-Tangible
assets 2.359
-Financial
assets 623
-Intangible
assets 8.211
CURRENT
ASSETS 10.529
-Current
receivables 9.345
-Inventories 1.065
-Cash, bank
etc. 118
EQUITY
& LIABILITIES
SHORTTERM
LIABILITIES 15.524
-Suppliers 982
-Bankers 10.505
LONGTERM
LIABILITIES 0
PROVISIONS/RESERVES 0
SHAREHOLDER’S
EQUITY 6.199
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.