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Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
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Name : |
MITA-TEKNIK AS |
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Registered Office : |
Håndværkervej 1, Dk-8840 Rødkærsbro |
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Country : |
Denmark |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
1969 |
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Com. Reg. No.: |
CVR-No.: 66089215 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Production
and sales of industrial electronics such as process and control equipment |
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No. of Employees : |
118 (Group: 217) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Denmark |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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’S NAME MITA-TEKNIK A/S
ADDRESS Håndværkervej
1
DK-8840
RØDKÆRSBRO
TELEPHONE-NO +45
86 65 86 00
TELEFAX-NO +45
86 65 92 90
E-MAIL-ADDRESS mail@mita-teknik.com
LOCAL CURRENCY D K K
FOUNDATION Originally
1969 as Mita-Teknik, Holger
Andersen
A/S.
Present
style since 2005.
CENTRAL
BUSINESS-REG-NO CVR-No.:
66089215
EU-VAT-ID-NO DK66 08 92 15
LEGAL FORM Private
Limited Company
SHARE CAPITAL DKK 1.200.000,00
PARENT COMPANY DK33 77 12 58 100 %
Mita-Teknik
Invest 1 A/S
AUDITORS ERNST
& YOUNG P/S
Søren
Frichs Vej 38 A
8230
ÅBYHØJ
BOARD OF DIRECTORS Karl Kristian Hvidt Nielsen,
chairman
Femvej
4
3450
ALLERØD
Søren
Lindberg, vice chairman
Skolevej
13
3460
BIRKERØD
Poul
Lind
Kong
Valdemars Vej 54B
2840
HOLTE
Holger
Hentze Andersen
Brombærvej
3
8840
RØDÆRSBRO
Søren
Friis Knudsen
Slotssøvejen
5
6000
KOLDING
MANAGING DIRECTOR Thomas Hentze Andersen
Brombærvej
1
8840
RØDKÆRSBRO
Jesper
Hentze Andersen
Brombærvej
5
8840
RØDKÆRSBRO
ACTIVITY Production
and sales of industrial electronics such as process and control
equipment.
All
products are CE-labelled and produced in
accordance
with Mita-Teknik’s ISO9001 quality
control
systems.
The
system covers automatic hardware tests and
burn-in
tests.
EMPLOYEES 118 (Group:
217)
TURNOVER Figures
are strictly confidential.
SUBSIDIARIES Mita-Teknik, Udlejning
ApS, DK 100,00
%
Mita-Teknik
Ltd., Ukraine 51,25
%
Aktieselskabet af 12.12.2006, DK 100,00 %
Mita-Teknik Invest ApS, DK 100,00
%
Mita-Teknik
Technology Private Ltd., 99,35 %
India
Mita-Teknik (Ningbo) Co. Ltd., China 100,00 %
FINANCIAL STANDING The financial situation
is sound.
ACCOUNTS See
latest published figures on page 3
REAL ESTATE Own
properties
-Taxation value DKK
30.176.000,00 total
PAYMENTS Nothing
detrimental has been noted.
BANKERS Nordea
Bank Danmark A/S
ACCOUNTS CLOSED AS PER 31.05.2012 31.05.2011
EXTRACT IN 1000 DKK
PROFIT & LOSS ACCOUNT
GROSS RESULTS 92.362 140.724
OPERATING RESULTS 32.813 81.390
RESULTS BEFORE TAXES 31.546 83.695
YEAR’S NET RESULT 23.540 63.299
TOTAL ASSETS 120.787 168.017
FIXED
ASSETS 47.942 49.804
-Tangible
assets 33.105 35.897
-Financial
assets 14.164 13.907
-Intangible
assets 673 0
CURRENT ASSETS 72.845 118.213
-Receivables 23.638 43.322
-Inventories 33.366 31.463
-Cash, bank etc. 15.841 28.721
-Investments 0 14.707
EQUITY & LIABILITIES
SHORTTERM LIABILITIES 47.731 50.628
-Suppliers 13.785 18.714
LONGTERM LIABILITIES 0 0
RESERVES/PROVISIONS 0 0
SHAREHOLDER’S EQUITY 73.056 117.389
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.99 |
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.