MIRA INFORM REPORT
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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TTS HANDLING SYSTEMS AS |
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Registered Office : |
Holterkollveien 6, PO Box 49, Drobak, NO-1441 |
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Country : |
Norway |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
939077774 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Manufacturer of Heavy-Load Marine Cargo Handling Systems |
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No. of Employees : |
17 |
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 : |
Satisfactory |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Norway |
A1 |
A1 |
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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 |
norway ECONOMIC OVERVIEW
The Norwegian economy is a
prosperous mixed economy, with a vibrant private sector, a large state sector, and
an extensive social safety net. The government controls key areas, such as the
vital petroleum sector, through extensive regulation and large-scale
state-majority-owned enterprises. The country is richly endowed with natural
resources - petroleum, hydropower, fish, forests, and minerals - and is highly
dependent on the petroleum sector, which accounts for the largest portion of
export revenue and about 20% of government revenue. Norway is the world's
third-largest natural gas exporter; and seventh largest oil exporter, making
one of its largest offshore oil finds in 2011. Norway opted to stay out of the
EU during a referendum in November 1994; nonetheless, as a member of the
European Economic Area, it contributes sizably to the EU budget. In anticipation
of eventual declines in oil and gas production, Norway saves state revenue from
the petroleum sector in the world's second largest sovereign wealth fund,
valued at over $700 billion in January 2013 and uses the fund's return to help
finance public expenses. After solid GDP growth in 2004-07, the economy slowed
in 2008, and contracted in 2009, before returning to positive growth in
2010-12, however, the government budget is set to remain in surplus.
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Source : CIA |
Company name & address
TTS Handling Systems AS
Holterkollveien 6
PO Box 49
Drobak, NO-1441
Norway
Tel: 47-64907910
Fax: 47-64931663
Web: www.tts-hs.no
synthesis
Employees: 17
Company Type: Private Subsidiary
Corporate Family: 33
Companies
Ultimate Parent: TTS
Group ASA
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency:
Norwegian Krone
Annual Sales: 5.0
Net Income: 0.9
Total Assets: 13.9
Business Description
Heavy-Load Marine Cargo Handling Systems Mfr
Industry
Industry Office Equipment
ANZSIC 2006: 2421 - Computer and
Electronic Office Equipment Manufacturing
NACE 2002: 3001 - Manufacture
of office machinery
NAICS 2002: 333313 - Office
Machinery Manufacturing
UK SIC 2003: 3001 - Manufacture
of office machinery
UK SIC 2007: 2823 - Manufacture
of office machinery and equipment (except computers and peripheral
equipment)
US SIC 1987: 3579 - Office
Machines, Not Elsewhere Classified
Key Executives
|
Name |
Title |
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Rolf-Atle Tomassen |
Managing Director |
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Martin Myksvold |
Finance Manager |
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Esten Aseng |
Purchasing Executive, Production Director |
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Kent Gøran Johansson |
leder |
1 - Profit & Loss Item Exchange Rate: USD 1 = NOK 5.606842
2 - Balance Sheet Item Exchange Rate: USD 1 = NOK 5.96795
Corporate Overview
Location
Holterkollveien 6
PO Box 49
Drobak, NO-1441
Norway
Tel: 47-64907910
Fax: 47-64931663
Web: www.tts-hs.no
Sales NOK(mil) : 28.0
Assets NOK(mil): 82.7
Employees: 17
Fiscal Year End: 31-Dec-2011
Industry: Office
Equipment
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(NOR): 939077774
Managing Director : Rolf-Atle
Tomassen
Industry Codes
ANZSIC 2006 Codes:
2421 - Computer and Electronic Office Equipment Manufacturing
521 - Water Transport Support Services
2499 - Other Machinery and Equipment Manufacturing Not Elsewhere
Classified
2469 - Other Specialised Machinery and Equipment Manufacturing
NACE 2002 Codes:
3001 - Manufacture of office machinery
2924 - Manufacture of other general purpose machinery not
elsewhere classified
6311 - Cargo handling
2954 - Manufacture of machinery for textile, apparel and leather
production
NAICS 2002 Codes:
333313 - Office Machinery Manufacturing
333311 - Automatic Vending Machine Manufacturing
333319 - Other Commercial and Service Industry Machinery
Manufacturing
333312 - Commercial Laundry, Drycleaning, and Pressing Machine
Manufacturing
488310 - Port and Harbor Operations
US SIC 1987:
3579 - Office Machines, Not Elsewhere Classified
4491 - Marine Cargo Handling
3582 - Commercial Laundry, Drycleaning, and Pressing Machines
3581 - Automatic Vending Machines
3589 - Service Industry Machinery, Not Elsewhere Classified
UK SIC 2003:
3001 - Manufacture of office machinery
6311 - Cargo handling
2924 - Manufacture of other general purpose machinery not
elsewhere classified
2954 - Manufacture of machinery for textile, apparel and leather
production
UK SIC 2007:
2823 - Manufacture of office machinery and equipment (except
computers and peripheral equipment)
5224 - Cargo handling
2829 - Manufacture of other general-purpose machinery n.e.c.
2894 - Manufacture of machinery for textile, apparel and leather
production
Business
Description
Heavy-Load Marine Cargo Handling Systems Mfr
More Business
Descriptions
Other Specialized Design Services
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Corporate Family |
Corporate
Structure News: |
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TTS
Group ASA |
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TTS Handling Systems AS |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Fyllingsdalen |
Norway |
Miscellaneous Capital Goods |
407.1 |
1,163 |
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Subsidiary |
Hamburg, Hamburg |
Germany |
Construction and Agriculture Machinery |
209.8 |
150 |
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Division |
Kristiansand |
Norway |
Construction and Agriculture Machinery |
212.5 |
100 |
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Subsidiary |
Edmonton, AB |
Canada |
Construction and Agriculture Machinery |
16.7 |
50 |
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Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
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Division |
Gothenburg |
Sweden |
Recreational Products |
|
100 |
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Subsidiary |
Bergen |
Norway |
Recreational Products |
|
175 |
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Subsidiary |
Kristiansand |
Norway |
Business Services |
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150 |
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Affiliates |
Shanghai |
China |
Recreational Products |
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80 |
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Subsidiary |
Fort Lauderdale, FL |
United States |
Business Services |
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7 |
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Subsidiary |
Genoa |
Italy |
Recreational Products |
0.7 |
3 |
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Subsidiary |
Bergen |
Norway |
Miscellaneous Capital Goods |
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90 |
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Division |
Bergen |
Norway |
Miscellaneous Capital Goods |
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50 |
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Branch |
Kristiansand |
Norway |
Miscellaneous Transportation |
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150 |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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110 |
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Subsidiary |
Bad Schwartau |
Germany |
Miscellaneous Capital Goods |
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50 |
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Affiliates |
Dalian |
China |
Miscellaneous Capital Goods |
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3 |
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Subsidiary |
Drobak |
Norway |
Office Equipment |
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Subsidiary |
Haiphong |
Viet Nam |
Miscellaneous Transportation |
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12 |
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Subsidiary |
Singapore |
Singapore |
Aerospace and Defense |
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10 |
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Subsidiary |
Gothenburg |
Sweden |
Recreational Products |
96.3 |
3 |
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Subsidiary |
Bremen |
Germany |
Construction and Agriculture Machinery |
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Subsidiary |
Busan |
Korea, Republic of |
Scientific and Technical Instruments |
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60 |
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Subsidiary |
Ostrava, Hrabova |
Czech Republic |
Miscellaneous Capital Goods |
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Division |
Bergen |
Norway |
Miscellaneous Capital Goods |
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Subsidiary |
Tampere, Pirkkala |
Finland |
Miscellaneous Capital Goods |
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28 |
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Subsidiary |
Gothenburg |
Sweden |
Miscellaneous Capital Goods |
17.9 |
20 |
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Subsidiary |
Drobak |
Norway |
Office Equipment |
5.0 |
17 |
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Subsidiary |
Piraeus |
Greece |
Miscellaneous Capital Goods |
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Subsidiary |
Dalian |
China |
Construction Services |
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Subsidiary |
Busan |
Korea, Republic of |
Miscellaneous Capital Goods |
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Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
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Subsidiary |
Houston, TX |
United States |
Miscellaneous Capital Goods |
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Executive report
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Board of
Directors |
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leder |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Finance Manager |
Finance Executive |
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Purchasing Executive, Production Director |
Product Management Executive |
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TTS Group with breakthrough
contracts in Vietnam
16 May, 2013
TTS Group ASA has
through its subsidiary TTS Handling Systems AS, a company in the Port &
Logistic Division, signed two contracts for delivery of shipyard equipment to Vietnam
with a total value of approx. 103 MNOK. The first contract is with the
Vietnamese ...
Related Companies:
TTS Group ASA
Related Industries:
Investment Services
Public Sector and
Government
Norway: TTS Group to Supply Two Shipyards
with Ship Handling Systems
Shipbuilding Tribune
10 August, 2012
TTS Group ASA,
through its subsidiary TTS Handling Systems AS, has signed two contracts of
ship handling systems with a total value of approximately NOK 50 million
(approx USD 8.5 mln ) – one with Samho Ltd. in South Korea and the other with
Pella Shipyard in ...
Related Companies:
TTS Group ASA
TTS Group to Provide Ship Handling Systems
for Korean and Russian Shipyards
World Maritime News
10 August, 2012
Posted on Aug 10th,
2012 with tags asia, europe, handling, Korean, News by topic, Provide, Russian,
ship, Shipyards, Systems, TTS Group. TTS Group ASA, through its subsidiary TTS
Handling Systems AS, has signed two contracts of ship handling systems with a
...
Related Companies:
TTS Group ASA
TTS signs NOK 50 million contracts in Korea
and Russia
Thomson Reuters One
9 August, 2012
TTS Group ASA,
through its subsidiary TTS Handling Systems AS, has signed two contracts of
ship handling systems with a total value of approximately NOK 50 million - one with
Samho Ltd. in South Korea and the other with Pella Shipyard in Russia. Â
Related Companies:
TTS Group ASA
TTS inngĂ¥r 50 MNOK kontrakter i Korea og
Russland
Thomson Reuters One
9 August, 2012
TTS Group ASA har,
gjennom datterselskapet TTS Handling Systems AS, inngĂ¥tt to kontrakter av
skipshĂ¥ndteringssystemer med en samlet verdi pĂ¥ ca. 50 MNOK. Den ene med
Samho Ltd i Sør Korea og den andre med Pella skipsverft i Russland. Kontrakten
med Samho Ltd ...
Related Companies:
TTS Group ASA
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
NOK |
NOK |
NOK |
|
Exchange Rate
(Period Average) |
5.606842 |
6.047155 |
6.287787 |
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Consolidated |
No |
No |
No |
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Total Revenue |
5.0 |
18.1 |
25.8 |
|
Net Financial Items |
0.2 |
-0.1 |
0.0 |
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Operating Income |
1.0 |
1.7 |
2.7 |
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Income Before Tax |
1.2 |
1.6 |
2.7 |
|
Net Income |
0.9 |
1.2 |
2.0 |
Annual Balance
Sheet
Financials in: USD
(mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
NOK |
NOK |
NOK |
|
Exchange Rate |
5.96795 |
5.8125 |
5.7768 |
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Consolidated |
No |
No |
No |
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Total Assets |
13.9 |
17.7 |
20.7 |
|
Total Liabilities |
11.7 |
11.2 |
15.4 |
|
Total Equity |
2.1 |
6.5 |
5.3 |
Annual Ratios
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
- |
|
Exchange Rate |
- |
- |
- |
|
Consolidated |
No |
No |
No |
|
|
|
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Operating Margin |
20.81 |
9.61 |
10.36 |
|
Current Ratio |
1.12 |
1.50 |
1.47 |
|
Total debt/total equity |
15.30 |
36.77 |
25.66 |
|
Return on average equity |
37.85 |
19.09 |
40.16 |
Annual Growth
Rates
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
|
Exchange Rate |
- |
- |
|
Consolidated |
No |
No |
|
|
|
|
|
Turnover Percent Change |
-74.40% |
-32.75% |
|
Net Financial Items Percent Change |
218.26% |
-391.80% |
|
Operating Results Percent Change |
-44.54% |
-37.65% |
|
Profit/Loss Before Tax Percent Change |
-31.91% |
-42.71% |
|
Profit/Loss for the Year Percent Change |
-33.75% |
-41.23% |
|
Assets Percent Change |
-19.67% |
-13.74% |
|
Debts Percent Change |
7.62% |
-26.63% |
|
Equity Capital Percent Change |
-66.58% |
23.61% |
|
Operating Margin Percent Change |
116.55% |
-7.24% |
|
Current Ratio Percent Change |
-25.33% |
2.04% |
|
Debt/Equity Ratio Percent Change |
-58.39% |
43.30% |
|
Return On Equity Percent Change |
98.27% |
-52.47% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
UK Pound |
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.