MIRA INFORM REPORT

 

 

Report Date :

13.06.2013

 

IDENTIFICATION DETAILS

 

Name :

KATVIG APS  

 

 

Registered Office :

Langebrogade 6F, Kobenhavn K, 1411

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishments:

2003

 

 

Com. Reg. No.:

27445500

 

 

Legal Form :

Private Independent

 

 

Line of Business :

manufacturing infants' dresses, blouses, shirts, and all other infants' wear from purchased fabric

 

 

No. of Employees :

05

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 a high standard of living 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, has since continued to decline. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crisis cut Danish real GDP in 2008-09. 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 2010-12, 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 delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 45% of GDP in 2012. 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 name & address

 

Katvig ApS 

Langebrogade 6F

KObenhavn K, 1411

Denmark

Tel:       +45 33 23 98 67

Fax:      +45 33 23 98 67

 Web:   www.Katvig.dk

           

 

Synthesis

 

Employees:                  5

Company Type:            Private Independent

Incorporation Date:         2003   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Danish Krone

Annual Sales:               0.0

Net Income:                  0.0

Total Assets:                 3.8

 

Business Description     

 

Katvig ApS is primarily engaged in manufacturing infants' dresses, blouses, shirts, and all other infants' wear from purchased fabric. Infants' clothing jobbers, who perform entrepreneurial functions involved in apparel manufacture, including buying raw materials, designing and preparing samples, arranging for apparel to be made from their materials, and marketing finished apparel, are included. For the purposes of classification, the term "infants' apparel" includes apparel for young children of an age not exceeding 24 months.

 

Industry             

Industry            Apparel and Accessories

ANZSIC 2006:    1351 - Clothing Manufacturing

NACE 2002:      1824 - Manufacture of other wearing apparel and accessories not elsewhere classified

NAICS 2002:     315291 - Infants' Cut and Sew Apparel Manufacturing

UK SIC 2003:    1824 - Manufacture of other wearing apparel and accessories not elsewhere classified

UK SIC 2007:    1419 - Manufacture of other wearing apparel and accessories n.e.c.

US SIC 1987:    2369 - Girls', Children's, and Infants' Outerwear, Not Elsewhere Classified

 

           

Key Executives   

 

Name

Title

Vigga Louise Svensson

Managing Director / Director, Sales Director

Jonas Eder-Hansen

Board Member

Henrik Fjordbak

Board Member

Michael John Brandt

Board Member

Jacob Peder Meibom

Bestyrelsesformand

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.358236

2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.72535

 

Corporate Overview

 

Location

Langebrogade 6F

KObenhavn K, 1411

Denmark

Tel:       +45 33 23 98 67

Fax:      +45 33 23 98 67

Web:    www.Katvig.dk

           

Sales DKK(mil):             0.0

Assets DKK(mil):           21.5

Employees:                   5

Fiscal Year End:            31-Dec-2011

Industry:                        Apparel and Accessories

Incorporation Date:         2003

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(DNK):     27445500

 

Managing Director / Director, Sales Director:

Vigga Louise Svensson

 

Industry Codes

 

ANZSIC 2006 Codes:

1351     -          Clothing Manufacturing

 

NACE 2002 Codes:

1824     -          Manufacture of other wearing apparel and accessories not elsewhere classified

182       -          Manufacture of other wearing apparel and accessories

1823     -          Manufacture of underwear

1822     -          Manufacture of other outerwear

 

NAICS 2002 Codes:

315291  -          Infants' Cut and Sew Apparel Manufacturing

315234  -          Women's and Girls' Cut and Sew Suit, Coat, Tailored Jacket, and Skirt Manufacturing

31521   -          Cut and Sew Apparel Contractors

315231  -          Women's and Girls' Cut and Sew Lingerie, Loungewear, and Nightwear Manufacturing

315222  -          Men's and Boys' Cut and Sew Suit, Coat, and Overcoat Manufacturing

31529   -          Other Cut and Sew Apparel Manufacturing

315239  -          Women's and Girls' Cut and Sew Other Outerwear Manufacturing

315228  -          Men's and Boys' Cut and Sew Other Outerwear Manufacturing

3152     -          Cut and Sew Apparel Manufacturing

 

US SIC 1987:

2369     -          Girls', Children's, and Infants' Outerwear, Not Elsewhere Classified

238       -          Miscellaneous Apparel and Accessories

2341     -          Women's, Misses', Children's, and Infants' Underwear and Nightwear

2311     -          Men's and Boys' Suits, Coats, and Overcoats

2337     -          Women's, Misses', and Juniors' Suits, Skirts, and Coats

2339     -          Women's, Misses', and Juniors' Outerwear, Not Elsewhere Classified

23         -          Apparel and Other Finished Products Made From Fabrics and Similar Materials

2385     -          Waterproof Outerwear

 

UK SIC 2003:

1824     -          Manufacture of other wearing apparel and accessories not elsewhere classified

18222   -          Manufacture of other women's outerwear

182       -          Manufacture of other wearing apparel and accessories

18221   -          Manufacture of other men's outerwear

18232   -          Manufacture of women's underwear

 

UK SIC 2007:

1419     -          Manufacture of other wearing apparel and accessories n.e.c.

141       -          Manufacture of wearing apparel, except fur apparel

14131   -          Manufacture of men's outerwear, other than leather clothes and workwear

14142   -          Manufacture of women's underwear

14132   -          Manufacture of women's outerwear, other than leather clothes and workwear

 

Business Description

Katvig ApS is primarily engaged in manufacturing infants' dresses, blouses, shirts, and all other infants' wear from purchased fabric. Infants' clothing jobbers, who perform entrepreneurial functions involved in apparel manufacture, including buying raw materials, designing and preparing samples, arranging for apparel to be made from their materials, and marketing finished apparel, are included. For the purposes of classification, the term "infants' apparel" includes apparel for young children of an age not exceeding 24 months.

 

 

Financial Data

Financials in:

DKK(mil)

 

Revenue:

0.0

Net Income:

0.0

Assets:

21.5

Total Liabilities:

0.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

NA

NA

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

Source

Jonas Eder-Hansen

 

Board Member

Director/Board Member

KMPS 

Henrik Fjordbak

 

Board Member

Director/Board Member

KMPS 

Michael John Brandt

 

Board Member

Director/Board Member

KMPS 

Jacob Peder Meibom

 

Bestyrelsesformand

Director/Board Member

KMPS 

Henrik Sebastian ThOger Nielsen

 

Board Member

Director/Board Member

KMPS 

 

 

 

Executives

 

Name

Title

Function

Source

Vigga Louise Svensson

 

Managing Director / Director, Sales Director

Managing Director

KMPS 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

DKK

DKK

DKK

Exchange Rate (Period Average)

5.358236

5.623146

5.354263

Consolidated

No

No

No

 

 

 

 

Gross Profit

1.7

1.6

1.1

Operating Income

0.3

0.3

-0.5

Net Income

0.0

0.1

-0.6

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

DKK

DKK

DKK

Exchange Rate

5.72535

5.55485

5.18625

Consolidated

No

No

No

 

 

 

 

Total Assets

3.8

2.8

3.8

Total Liabilities

-

-

3.3

Total Equity

0.5

0.2

0.1

 

Annual Ratios

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Current Ratio

99.78

108.14

98.52

Total debt/total equity

13.09

8.89

2.35

Return on average equity

0.28

47.12

-

 

 

Annual Growth Rates

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Marginal Contribution Percent Change

3.17%

47.10%

Operating Results Percent Change

-26.66%

163.81%

Profit/Loss for the Year Percent Change

-98.76%

118.87%

Assets Percent Change

39.40%

-21.18%

Equity Capital Percent Change

105.25%

198.04%

Current Ratio Percent Change

-7.73%

9.76%

Debt/Equity Ratio Percent Change

47.24%

278.30%

Return On Equity Percent Change

-99.41%

-

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.27

UK Pound

1

Rs.91.16

Euro

1

Rs.77.50

 

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.