|
Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
O. MUSTAD HOOKS
AS |
|
|
|
|
Registered Office : |
Raufossvegen 40,
Gjøvik 2821 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
28.12.2011 |
|
|
|
|
Com. Reg. No.: |
997769384 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of
sports goods |
|
|
|
|
No of Employees : |
15 |
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 |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 30% 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 largest sovereign wealth fund, valued at over $830 billion in January 2014 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 2010-13. Nevertheless, the government budget remains in surplus.
Source CIA
|
Company name |
O. MUSTAD HOOKS AS
|
Company number |
997769384 |
|
Address |
Raufossvegen 40 |
Number of employees |
15 |
|
City |
GJØVIK 2821 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
- |
Fax Number |
- |
|
Registration date |
28/12/2011 |
Status |
Active |
|
Previous Name |
- |
Share capital |
200,000 |
|
Name change date |
- |
Currency |
NOK |
No data exist
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2012 |
35,658,000 |
-13,319,000 |
2,460,000 |
|
2011 |
0 |
0 |
15,779,000 |
|
Main Industry Code & Description |
Manufacturer of
sports goods |
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
O MUSTAD & SØN
AS |
200 |
100.0 |
|
Name |
Address |
Function |
|
Snarøyveien 132 SNARØYA
1367 |
Deputy board
member/substitute |
|
|
Wergelands Gate 1
C GJØVIK 2821 |
Board member(s) |
|
|
Einerbakken 33
HUNNDALEN 2827 |
Chairman of the
board |
|
|
Einerbakken 33
HUNNDALEN 2827 |
General
manager/CEO |
No data exist
|
2012 |
2011 |
||
|
Currency |
NOK |
NOK |
|
|
Consolidated
Accounts |
No |
No |
|
|
Complete
Accounts |
Yes |
Yes |
|
|
Sales Revenue |
35,658,000 |
- |
0 |
|
Other operating
income |
7,573,000 |
2,244.6 % |
323,000 |
|
Total Operating
Income |
43,231,000 |
13,284.2 % |
323,000 |
|
Total Operating
Expenses |
55,887,000 |
17,202.5 % |
323,000 |
|
Operating
Profit |
-12,656,000 |
- |
0 |
|
Wages &
Salaries |
17,225,000 |
- |
0 |
|
Depreciation |
2,957,000 |
- |
0 |
|
Financial Income |
292,000 |
- |
0 |
|
Financial Expenses
|
955,000 |
- |
0 |
|
Profit Before
Tax |
-13,319,000 |
- |
0 |
|
Tax |
0 |
- |
0 |
|
Profit After
Tax |
-13,319,000 |
- |
0 |
|
Extraordinary Result
|
0 |
- |
0 |
|
Dividends |
- |
- |
- |
|
Net Result
after Dividends |
-13,319,000 |
- |
0 |
|
2012 |
2011 |
||
|
Currency |
NOK |
NOK |
|
|
Consolidated
Accounts |
No |
No |
|
|
Complete
Accounts |
Yes |
Yes |
|
|
Land &
Buildings |
2,893,000 |
-24.1 % |
3,814,000 |
|
Plant &
Machinery |
6,213,000 |
-5.3 % |
6,563,000 |
|
Other Tangible
Assets |
0 |
- |
0 |
|
Total Tangible
Assets |
9,106,000 |
-12.2 % |
10,377,000 |
|
Intangible
Assets |
0 |
- |
0 |
|
Other Fixed
Assets |
716,000 |
- |
0 |
|
TOTAL FIXED
ASSETS |
9,822,000 |
-5.3 % |
10,377,000 |
|
Inventories |
5,563,000 |
-45.2 % |
10,159,000 |
|
Trade
Receivables |
17,483,000 |
- |
0 |
|
Other
Receivables |
0 |
- |
0 |
|
Cash & Bank
Deposits |
505,000 |
- |
0 |
|
Other Current
Assets |
0 |
- |
0 |
|
TOTAL CURRENT
ASSETS |
23,551,000 |
131.8 % |
10,159,000 |
|
TOTAL ASSETS |
33,373,000 |
62.5 % |
20,536,000 |
|
Trade Creditors
|
19,626,000 |
312.6 % |
4,757,000 |
|
Short Term
Liabilities to Financial Institutions |
7,941,000 |
- |
0 |
|
Short Term
Liabilities to Group |
0 |
- |
0 |
|
Other Short
Term Loans |
0 |
- |
0 |
|
Miscellaneous
Current Liabilities |
2,910,000 |
- |
0 |
|
TOTAL CURRENT
LIABILITIES |
30,477,000 |
540.7 % |
4,757,000 |
|
Long Term
Liabilities to Financial Institutions |
0 |
- |
0 |
|
Other Long Term
Loans |
0 |
- |
0 |
|
Long Term
Pension Commitments |
0 |
- |
0 |
|
Other Long Term
Liabilities |
436,000 |
- |
0 |
|
TOTAL LONG TERM
LIABILITIES |
436,000 |
- |
0 |
|
TOTAL
LIABILITIES |
30,913,000 |
549.8 % |
4,757,000 |
|
Share Capital |
200,000 |
0.0 % |
200,000 |
|
Share Premium
Reserve |
15,579,000 |
0.0 % |
15,579,000 |
|
Revaluation
Fund |
0 |
- |
0 |
|
Total Retained
Earnings |
-13,319,000 |
- |
0 |
|
Other Reserves |
0 |
- |
0 |
|
TOTAL EQUITY |
2,460,000 |
-84.4 % |
15,779,000 |
|
2012 |
2011 |
||
|
Total Exports |
- |
- |
- |
|
Working Capital |
-6,926,000 |
-228.2 % |
5,402,000 |
|
Net Worth |
2,460,000 |
-84.4 % |
15,779,000 |
|
Capital Employed |
2,896,000 |
-81.6 % |
15,779,000 |
|
2012 |
2011 |
|
|
Pre-Tax Profit
Margin |
-37.35 |
- |
|
Return on Capital
Employed |
-459.91 |
0.00 |
|
Return on Total
Assets Employed |
-39.91 |
0.00 |
|
Return on Net
Assets Employed |
-541.42 |
0.00 |
|
Sales/Net Working
Capital |
-5.15 |
0.00 |
|
Stock Turnover
Ratio |
15.60 |
- |
|
Debtor Days |
178.96 |
- |
|
Creditor Days |
200.89 |
- |
|
Current Ratio |
0.77 |
2.14 |
|
Liquidity
Ratio/Acid Test |
0.59 |
0.00 |
|
Current Debt Ratio
|
12.39 |
0.30 |
|
Solvency Ratio |
7.37 |
76.84 |
|
Equity in
Percentage |
7.53 |
76.84 |
|
Total Debt Ratio |
12.57 |
0.30 |
|
Date |
Description |
|
17/08/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
16/07/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
08/09/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
14/04/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
06/02/2012 |
CHANGE OF CAPITAL |
|
06/02/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
28/12/2011 |
NEW REGISTRATION |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.