|
Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARENOT AQUACULTURE AS |
|
|
|
|
Formerly Known As : |
MØRENOT OPPDRETT AS |
|
|
|
|
Registered Office : |
Savik 6280 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
24.12.2011 |
|
|
|
|
Com. Reg. No.: |
997749588 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Manufacture of cordage |
|
|
|
|
No. of Employees : |
11 |
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 : |
Slow but correct |
|
|
|
|
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) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
|
Company Name |
MARENOT AQUACULTURE AS |
Company Number |
997749588 |
|
Company name |
MARENOT AQUACULTURE AS |
Company number |
997749588 |
|
Address |
- |
|
|
|
City |
SØVIK 6280 |
Legal form |
Limited company |
|
Website address |
C:\Documents
and SettingsCS03DesktopCreditsafe Templatesfor entry |
E-mail address |
- |
|
Telephone Number |
00 47 70209500 |
Fax Number |
00 47 |
|
Registration date |
24/12/2011 |
Status |
Active |
|
Previous Name |
MØRENOT OPPDRETT AS |
Share capital |
397,600 |
|
Name change date |
24/12/2011 |
Currency |
- |
|
|
|
Number of employees |
11 |
Current Directors
|
Name |
Address |
Function |
|
Nørvegata 69 ÅLESUND 6008 |
General manager/CEO |
|
|
Sirivegen 24 A MOLDE 6411 |
Chairman of the board |
|
|
SØVIK 6280 |
Board member(s) |
|
|
Husafjellet 4 Ã…LESUND 6009 |
Board member(s) |
Other Company
Officials
No data exist.
No negative information found.
Shareholders
No data exist.
N/a
N/a
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2012 |
73,335,000 |
-5,925,000 |
14,364,000 |
Profit & Loss
Account
|
Financial Year |
2012 |
|
Currency |
NOK |
|
Consolidated Accounts |
No |
|
Complete Accounts |
Yes |
|
Sales Revenue |
73,335,000 |
|
Other operating income |
710,000 |
|
Total Operating Income |
74,045,000 |
|
Total Operating Expenses |
79,164,000 |
|
Operating Profit |
-5,118,000 |
|
Wages & Salaries |
12,271,000 |
|
Depreciation |
636,000 |
|
Financial Income |
190,000 |
|
Financial Expenses |
997,000 |
|
Profit Before Tax |
-5,925,000 |
|
Tax |
1,658,000 |
|
Profit After Tax |
-4,267,000 |
|
Extraordinary Result |
0 |
|
Dividends |
- |
|
Net Result after Dividends |
-4,267,000 |
Balance Sheet
|
Financial Year |
2012 |
|
Currency |
NOK |
|
Consolidated Accounts |
No |
|
Complete Accounts |
Yes |
|
Land & Buildings |
0 |
|
Plant & Machinery |
3,036,000 |
|
Other Tangible Assets |
150,000 |
|
Total Tangible Assets |
3,186,000 |
|
Intangible Assets |
137,000 |
|
Other Fixed Assets |
0 |
|
TOTAL FIXED ASSETS |
3,323,000 |
|
Inventories |
19,130,000 |
|
Trade Receivables |
13,890,000 |
|
Other Receivables |
7,893,000 |
|
Cash & Bank Deposits |
78,000 |
|
Other Current Assets |
0 |
|
TOTAL CURRENT ASSETS |
40,991,000 |
|
TOTAL ASSETS |
44,314,000 |
|
Trade Creditors |
4,389,000 |
|
Short Term Liabilities to Financial Institutions |
22,610,000 |
|
Short Term Liabilities to Group |
0 |
|
Other Short Term Loans |
0 |
|
Miscellaneous Current Liabilities |
1,429,000 |
|
TOTAL CURRENT LIABILITIES |
28,428,000 |
|
Long Term Liabilities to Financial Institutions |
1,063,000 |
|
Other Long Term Loans |
0 |
|
Long Term Pension Commitments |
60,000 |
|
Other Long Term Liabilities |
400,000 |
|
TOTAL LONG TERM LIABILITIES |
1,523,000 |
|
TOTAL LIABILITIES |
29,950,000 |
|
Share Capital |
398,000 |
|
Share Premium Reserve |
0 |
|
Revaluation Fund |
0 |
|
Total Retained Earnings |
9,685,000 |
|
Other Reserves |
4,281,000 |
|
TOTAL EQUITY |
14,364,000 |
Other Financials
|
Financial Year |
2012 |
|
Total Exports |
24,089,000 |
|
Working Capital |
12,563,000 |
|
Net Worth |
14,227,000 |
|
Capital Employed |
15,887,000 |
Ratios
|
Financial Year |
2012 |
|
Pre-Tax Profit Margin |
-8.08 |
|
Return on Capital Employed |
-37.29 |
|
Return on Total Assets Employed |
-13.37 |
|
Return on Net Assets Employed |
-41.25 |
|
Sales/Net Working Capital |
5.84 |
|
Stock Turnover Ratio |
26.09 |
|
Debtor Days |
69.13 |
|
Creditor Days |
21.84 |
|
Current Ratio |
1.44 |
|
Liquidity Ratio/Acid Test |
0.77 |
|
Current Debt Ratio |
1.98 |
|
Solvency Ratio |
32.41 |
|
Equity in Percentage |
32.51 |
|
Total Debt Ratio |
2.09 |
N/a
Postal Address
No data exist.
Industry
|
Main Industry Code & Description |
Manufacture of cordage |
|
Secondary Industry Code & Description |
- |
|
Other Industry Code & Description |
- |
Event History
|
Date |
Description |
|
30/08/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
07/08/2013 |
Limit Change |
|
07/08/2013 |
Rating Change |
|
03/08/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
14/02/2012 |
Limit Change |
|
14/02/2012 |
Rating Change |
|
10/01/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
10/01/2012 |
CHANGE IN BUSINESS NAME |
|
06/01/2012 |
Limit Change |
|
06/01/2012 |
Rating Change |
|
24/12/2011 |
Execution of demerger |
|
24/12/2011 |
NEW REGISTRATION |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
|
1 |
Rs.101.11 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.