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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
KORCO AB |
|
|
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Registered Office : |
Södra Hamngatan 53, Göteborg 41106 |
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|
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Country : |
Sweden |
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|
|
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Financials (as on) : |
2011 |
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|
|
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Date of Incorporation : |
20.06.1991 |
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Com. Reg. No.: |
5564283264 |
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Legal Form : |
Limited liability company |
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|
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Line of Business : |
Wholesale of other intermediate products n.e.c. |
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|
|
|
No. of Employees : |
Not Available |
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 |
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Payment Behaviour : |
Unknown |
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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) |
|
Sweden |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
sweden - ECONOMIC OVERVIEW
Aided by peace and neutrality for the whole of the 20th
century, Sweden has achieved an enviable standard of living under a mixed
system of high-tech capitalism and extensive welfare benefits. It has a modern
distribution system, excellent internal and external communications, and a
highly skilled labor force. In September 2003, Swedish voters turned down entry
into the euro system concerned about the impact on the economy and sovereignty.
Timber, hydropower, and iron ore constitute the resource base of an economy
heavily oriented toward foreign trade. Privately owned firms account for vast
majority of industrial output, of which the engineering sector accounts for
about 50% of output and exports. Agriculture accounts for little more than 1%
of GDP and of employment. Until 2008, Sweden was in the midst of a sustained
economic upswing, boosted by increased domestic demand and strong exports. This
and robust finances offered the center-right government considerable scope to
implement its reform program aimed at increasing employment, reducing welfare
dependence, and streamlining the state's role in the economy. Despite strong
finances and underlying fundamentals, the Swedish economy slid into recession
in the third quarter of 2008 and the contraction continued in 2009 as
deteriorating global conditions reduced export demand and consumption. Strong
exports of commodities and a return to profitability by Sweden's banking sector
drove the strong rebound in 2010, which continued in 2011, but growth slipped
to 1.2% in 2012. The government proposed stimulus measures in 2012 to curb the
effects of a global economic slowdown and boost employment and growth.
|
Source
: CIA |
Company Name KORCO AB
Company Registration 5564283264
Activity Code 46769
Activity Description Wholesale of other
intermediate products n.e.c.
Company Status Active
Latest Turnover 0.00 (SEK)
Latest Shareholders Equity 1,571,000.00 (SEK)
Activities
Activity Code 46769
Activity Description Wholesale of other
intermediate products n.e.c.
Company Name KorCo AB
Registered Company Name KorCo AB
Company Registration Number 5564283264
Country SE
VAT Registration Number SE556428326401
Date of Company Registration 20/06/1991
Commercial Court Legal Form Limited liability
company
Type of Ownership Company Status Active
Principal Activity
Description The company shall engage in international
trade and industrial activities in
forest products. The industrial operations shall include conversion, storage and distribution. company
Contact Address Södra Hamngatan
53, GÖTEBORG 41106
Contact Telephone Number 031-7718750
Address Södra Hamngatan
53, 41106 GÖTEBORG
Country SE
Telephone 031-7718750
Name Kornfilt, Mario
Date of Birth 30/07/1953
Position Chairman of Board
Date Appointed 31/10/2003
Name Pär Tore Christian
Hörberg
Gender Male
Date of Birth 15/09/1951
Position Managing Director
Date Appointed 11/02/1998
Name Jan Lennart
Kristiansson
Gender Male
Date of Birth 22/05/1968
Position Actual Member of
Board
Date Appointed 07/08/2013
Name Jens Galatius
Gender Male
Date of Birth 08/07/1985
Position Actual Member of
Board
Date Appointed 07/08/2013
Name Ulf Ossian Ryberg
Gender Male
Date of Birth 01/07/1964
Position Actual Member of
Board
Date Appointed 18/11/2009
Name Ernst Harald Jakob
Grinneback
Gender Male
Date of Birth 10/01/1976
Position Substitute
Date Appointed 07/08/2013
Name Eva Birgitta
Jönsson
Gender Female
Date of Birth 16/08/1973
Position Substitute
Date Appointed 07/08/2013
Name Gunbritt Marianne
Schölin
Gender Female
Date of Birth 24/04/1947
Position Substitute
Date Appointed 07/08/2013
Name Ted Wilhelm Robin
Paijkull Knapp
Gender Male
Date of Birth 09/08/1984
Position Substitute
Date Appointed 07/08/2013
Name Albert Reidar
Öster
Gender Male
Date of Birth 28/11/1932
Position Actual Member of
Board
Date Appointed 16/09/1997
Resignation Date 18/11/2009
Issued Share capital 1,700,000.00 (SEK)
Company Name Registration
Number Status Last Financials
1 Korab International Aktiebolag 5565640397
31/12/2011
2 Cell Fiber International CFI AB 5566229679
31/12/2011
3 Marshland Properties Sarl
2 Korab Delaware
2 KORAB INTERNATIONAL KAGIT
DIS TIC S.A
2 KorCo AB 5564283264
31/12/2011
Affiliate Name Cell Fiber
International CFI AB
Affiliate ID SE011/X/5566229679
Country SE
Year 2011
Number of Employees 0
Year 2010
Number of Employees 0
Year 2009
Number of Employees 0
Year 2008
Number of Employees 0
Year 2007
Number of Employees 0
Profit & Loss
Financial Year
2011 2010 2009
Number of Weeks 52 52 52
Currency SEK SEK SEK Consolidated Accounts False False False Revenue 0.00 0.00 0.00
Operating Costs 0.00 0.00 0.00
Operating Profit 0.00 0.00 0.00
Wages & Salaries 0.00 0.00 0.00
Depreciation 0.00 0.00 0.00
Financial Income 0.00 0.00 0.00
Financial Expenses 0.00 0.00 0.00
Extraordinary Income 0.00 0.00 0.00
Extraordinary Costs 0.00 0.00 0.00
Profit Before Tax 0.00 0.00 0.00
Tax 0.00 0.00 0.00
Profit After Tax 0.00 0.00 0.00
Minority Interests
0.00 0.00 0.00
Other Appropriations 0.00 0.00 0.00
Retained Profit 0.00 0.00 0.00
Balance Sheet
Financial Year
2011 2010 2009
Number of Weeks 52 52 52
Currency SEK SEK SEK Consolidated Accounts False False False Land & Buildings 0.00 0.00 0.00
Plant & Machinery 0.00 0.00 0.00
Other Tangible
Assets 0.00 0.00 0.00
Total Tangible Assets 0.00 0.00 0.00
Goodwill 0.00 0.00 0.00
Other Intangible
Assets 0.00 0.00 0.00
Total Intangible
Assets 0.00 0.00 0.00
Loans to Group 0.00 0.00 0.00
Other Loans 0.00 0.00 0.00
Miscellaneous Fixed
Assets 0.00 0.00 0.00
Total Other Fixed Assets 0.00 0.00 0.00
Total Fixed Assets 0.00 0.00 0.00
Work in Progress
0.00 0.00 0.00
Other Inventories 0.00 0.00 0.00
Total Inventories
0.00 0.00 0.00
Trade Receivables
0.00 0.00 0.00
Group Receivables 1,520,000.00 1,520,000.00 1,520,000.00
Miscellaneous Receivables 0.00 0.00 0.00
Total Receivables 1,520,000.00 1,520,000.00 1,520,000.00
Cash 55,000.00 56,000.00
56,000.00
Other Current Assets
0.00 0.00 0.00
Total Current Assets 1,576,000.00 1,576,000.00 1,576,000.00
Total Assets 1,576,000.00 1,576,000.00 1,576,000.00
Trade Payables
0.00 0.00 0.00
Bank Liabilities
0.00 0.00 0.00
Group Payables
0.00 0.00 0.00
Miscellaneous Liabilities 5,000.00 5,000.00
5,000.00
Total Current Liabilities
5,000.00 5,000.00
5,000.00
Trade Payables
0.00 0.00 0.00
Bank Liabilities
0.00 0.00 0.00
Group Payables
0.00 0.00 0.00
Miscellaneous Liabilities 5,000.00 5,000.00
5,000.00
Total Current Liabilities
5,000.00 5,000.00
5,000.00
Bank Liabilities due
after 1 year 0.00 0.00 0.00
Miscellaneous Liabilities
due after 1 year
0.00 0.00 0.00
Total Long Term
Liabilities 0.00 0.00 0.00
Total Liabilities
5,000.00 5,000.00
5,000.00
Called Up Share Capital
1,700,000.00 1,700,000.00 1,700,000.00
Share Premium 0.00 0.00 0.00
Revenue Reserves -129,000.00 -129,000.00 -129,000.00
Other Reserves 0.00 0.00 0.00
Total Shareholders
Equity 1,571,000.00 1,571,000.00 1,571,000.00
Other Financials
Contingent Liabilities 0 0 0
Working Capital 1,571,000.00 1,571,000.00 1,571,000.00
Net Worth 1,571,000.00 1,571,000.00 1,571,000.00
Ratios
Return on Capital
Employed 0.00 0.00 0.00
Return on Total Assets
Employed 0.00 0.00 0.00
Return on Net Assets
Employed 0.00 0.00 0.00
Sales/Net Working
Capital 0.00 0.00 0.00
Current Ratio 315.20 315.20
315.20
Liquidity Ratio/Acid Test 315.20 315.20
315.20
Current Debt Ratio 0.00 0.00 0.00
Gearing 0.00 0.00 0.00
Equity in Percentage
99.68 99.68
99.68
Total Debt Ratio 0.00 0.00 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
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.