MIRA
INFORM REPORT
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Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
KOLMAR PETROCHEMICALS AG |
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Registered Office : |
Laubehof
Metallstrasse 9 6300 Zug |
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Country : |
Switzerland |
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Date of Incorporation : |
03-02-1997 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Traders of petrochemicals |
RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
EUR 650.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Overall
assessment: |
300 |
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Detail
assessment: |
Payments: |
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There
are no complaints about the mode of payment and business conduct. |
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Individual
credit limit*: |
EUR
650.000,-- |
NAME & ADDRESS
Kolmar
Petrochemicals AG
Laubehof
Metallstrasse 9
6300
Zug
Line of Business
Chemikalien
Legal domicile
Metallstrasse 9
6300
Zug/ZG
Switzerland
Telephone: 041
7275700
Fax:
041 7275701
Homepage:
www.kolmar.com
CREDIT ADVICE
Credit
opinion: A maximum credit of EUR 650.000 is considered in order.
This
credit advice is based on information available at the time of conducting the
research, being the above indicated date.
All
amounts in this report are given in Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL
DATA:
Legal
form: Joint stock company
Registration: 03-02-1997
First
Publication: 17-02-1997
Last
Publication: 14-10-2004
Share
capital: 8.400.000
Paid
up: 8.400.000
Divided
into: 8.400 Registered shares of 1.000
Shareholders: The
shares are in private ownership.
Company
Management: Ruth Sandelowsky
ACTIVITY:
Line
of business: Trade in petrochemicals
Sector: Wholesale
Activity:
The
scope of business encompasses the trade in petrochemicals.
An
office is operated in London. It is reported that most of the business
activities are conducted at this office.
Trading
area: International
EMPLOYEES:
Number
of employees: 30
The
executive board is based in London, Great Britain.
PAYMENT AND FINANCIAL DATA
PAYMENT
EXPERIENCES:
Legal
actions: Information only available against proof of interest.
There
are no complaints about the mode of payment and business conduct.
Since
the company conducts practically all of its business activities outside Switzerland,
there is however a lack of referential experience as regards the local business
and payment conduct.
For
large-scale financial transactions the company should therefore be capable of
providing appropriate proof of financial substance or securities.
FINANCIAL
DATA:
Financial
position: The financial affairs are
considered to be in order.
Financial
Statements: The company does not disclose any financial statements.
The
company hardly provides any inside information on its financial situation.
Consolidated
key figures (in USD 1.000):
Kolmar
Gruppe
31.12.2002 31.12.2001
Sales 617'000.0 439'000.0
Pursuant
to estimates in the Swiss business press the company's consolidated sales
amount to approximately CHF 1.4 billion. Up to the present date the managing
board has not released any revenue figures for the 2003, 2004 and 2005
financial years (in US$).
Banker(-s): Credit
Suisse (CS),
UBS
Ltd,
Auditors: PricewaterhouseCoopers
AG, Zuerich
Premises: The premises
at the above mentioned address are rented.
Fiscal
taxation: No information is available due to the local tax authority
regulation.
COMPANY AND PERSON RELATIONS
COMPANY
CONNECTIONS:
Direct
Investments:
Kolmar
Fibres AG, Zug (100.0%).
Kolmar
Ltd., London, United Kingdom/GB (100.0%).
Further
subsidiaries are based in the USA.
BOARD
OF DIRECTORS:
Ruth
Sandelowsky, from Netherlands, in
Hampstead/United
Kingdom,
President,
collective signature.
Rafael
Aviner, from Germany, in Weston/America,
Member,
collective signature.
Dr.
Josef Bollag, from Endingen, in
Baden/AG/Switzerland,
Member,
collective signature.
Moshe
Michael Glass, from Zuerich, in
Zuerich/ZH/Switzerland,
Member,
collective signature.
Herbert
C. Schlaubitz, from Meikirch, in
Walchwil/ZG/Switzerland,
Member,
collective signature.
MANAGEMENT:
Chavdar
Tzonev, from Huttwil, in
Brunnen/SZ/Switzerland,
Authorised
signatory, collective signature.
PERSONNEL
INFORMATION:
Ruth
Sandelowsky lives in Hampstead, Great Britain.
Josef
Bollag, born on 15.07.1942, is married to Miriam and lives at the
Schartenfelsstrasse 47 in Baden. He is an Attorney-at-Law by profession.
The
top-level members of the management enjoy a good reputation in business
affairs.
FURTHER
MANDATES:
Ruth
Sandelowsky:
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Kolmar Fibres AG, Zug
Josef
Bollag:
-
Eltan Holding AG, Zug
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Elinex Holding AG, Zug
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Eltaver AG, Zug
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Frenziek AG, Zug
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Gerom AG, Zug
etc.
COMMENTS:
Third
parties are not permitted any further insight into the subject's corporate
affairs. We have therefore not been able to double check all of the enclosed
information.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |