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Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
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Name : |
REDGREEN A/S |
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Formerly Known As : |
NORDIC PHILOSOPHY A/S |
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Registered Office : |
Storskovvej 8, Daugård 8721 |
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Country : |
Denmark |
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Financials (as on) : |
2012 |
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Date of Incorporation : |
01.07.2007 |
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Com. Reg. No.: |
30699734 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of clothing |
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No. of Employees : |
24 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
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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 |
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.
|
Source
: CIA |
Company Name REDGREEN A/S
Company Registration Number 30699734
Country DK
Activity Code 464210
Activity Description Wholesale of
clothing
Company Status Active
Latest Shareholders Equity 8,427.00 (DKK)
Activities
Activity Code 464210
Activity Description Wholesale of
clothing
Previous Name NORDIC PHILOSOPHY
A/S
Company Name REDGREEN A/S
Registered Company Name REDGREEN A/S
Company Registration Number 30699734
Country DK
VAT Registration Number 30699734
Date of Company Registration 01/07/2007
Commercial Court Legal Form Limited Company
Type of Ownership Company Status Active
Principal Activity Code 464210
Principal Activity Description Wholesale of
clothing
Contact Address Storskovvej 8,
Daugård 8721
Address Storskovvej 8,
Daugård 8721
Country DK
Telephone 76409600
Email Addresses redgreen@redgreen.dk
Web Addresses www.redgreen.dk
Name Søren Hanssen
Position Managing director
Date Appointed 02/01/2012
Name Gert Eg
Position Chairman
Date Appointed 02/07/2007
Name Søren Hanssen
Position Member of the
board
Date Appointed 02/07/2007
Name Michael Andersen
Position Member of the
board
Date Appointed 28/11/2007
Nominal Share Capital 5,000,000.00 (DKK)
Year 2012
Number of Employees 24
Year 2011
Number of Employees 28
Year 2010
Number of Employees 31
Profit & Loss
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency DKK DKK DKK
Operating Profit -15,715,000.00 -18,937,000.00 8,325,000.00
Retained Profit -14,266,000.00 -17,374,000.00 5,043,000.00
Balance Sheet
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency DKK DKK DKK
Total Assets 37,278,000.00 42,613,000.00 54,823,000.00
Other Reserves 8,427,000.00 7,944,000.00 25,067,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.78 |
|
|
1 |
Rs.101.42 |
|
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.