MIRA
INFORM REPORT
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Report Date : |
30.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
Noble Resources SA |
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Registered Office : |
Avenue des Mousquines 4, 1005 Lausanne/VD |
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Country : |
Switzerland |
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Date of Incorporation : |
18-07-2001 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Supplies a range of raw materials to the metals industry such
as iron, chrome and manganese ores, aluminium/alumina, and ferro alloys. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR 250.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Detail assessment: |
Payments: |
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The
financial affairs are considered good and in order. |
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Individual credit
limit*: |
EUR 250.000.-- |
Name
Noble Resources SA
Line
of Business
Matieres premieres, services, etc.
Legal
domicile
Avenue des Mousquines 4
1005
Lausanne/VD
Switzerland
Telephone: 021 3310890
Fax: 021 3310891
Homepage: www.thisisnoble.com
E-Mail: info@noble.com
CREDIT
ADVICE
Credit opinion: Maximum EUR
250.000.-- (300)
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: 18-07-2001
First Publication: 24-07-2001
Last Publication: 19-10-2007
Share capital: 3.900.000
Paid up: 3.900.000
Divided into: 3.900 Shares of 1.000
History: 24-06-2004 1.100.000 Capital increase
19-06-2003 1.000.000 Capital increase
19-06-2003 400.000 Capital increase
100.000 Capital by incorporation
Direct Parent com.: Noble Group
Limited, Hong Kong, China/CN with a share of 100.
Company Management: Elliot S. Spitz
ACTIVITY:
Activity:
Noble Resources supplies a range of raw materials to the metals industry
such as iron, chrome and manganese ores, aluminium/alumina, and ferro alloys.
The company also trades in intermediate products such as steel billets,
blooms and slabs as well as finished steel products for the construction and
manufacturing sectors.
EMPLOYEES:
Number of employees: 70
PAYMENT
AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: Information
only available against proof of interest.
The business conduct is considered very good and the current liabilities
are fulfilled on time.
FINANCIAL DATA:
Financial position: The
financial affairs are considered good and in order.
Financial Statements: The company does not disclose any financial
statements.
Consolidated key figures (in USD 1.000.000):
Noble Group Limited
31.12.2006 31.12.2005
31.12.2004 31.12.2003
Sales 13'765.4 11'690.9 8'622.0 4'396.0
Profit/Loss 134.5 231.9 289.0 61.0
Takeover from: Granex SA
1005 Lausanne/VD
Type: Take over as a result of merger
Registered on: 22-06-2007
Contract date: 21-06-2007
Balance Sheet per: 31-12-2007
Assets: 215.095.836
Liabilities: 221.473.208
According to the merger agreement of 13 June 2003 and balance-sheet per 31.
December 2002, the company acquired assets and liabilities of the following
firms:
- Noble Coffee SA, Lausanne
- Noble Grain SA, Lausanne
- Noble Sugar SA, Lausanne
Pursuant to the merger agreement of 18 June 2004 and balance-sheet per
31 December 2003, the company acquired assets and liabilities of:
- Noble Cocoa SA, Lausanne
Banker(-s): UBS Ltd, 1000
Lausanne
BNP Paribas
(Suisse) SA, Geneve
Auditors: Ernst & Young
SA, Lausanne
Premises: The premises at the
above mentioned address are rented.
COMPANY
AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.: Noble Group
Limited, Hong Kong, China/CN with a share of 100.
Founded in 1987, the Noble Group has its corporate headquarters in Hong
Kong, at Gloucester Road 38.
The group is active in the fields of agriculture, energy, industry and
metals, primary materials, as well as financial and logistics services.
The Noble Group is represented worldwide with 45 offices in the United
States, Europe, Asia, Austrial and Africa.
In April 2001, the Company acquired all the activities of the
Lausanne-based Andre & Cie SA in Singapore, Australia, Thailand, India,
Pakistan, Burma, Japan, Vietnam and China..
Direct Investments:
Noble Chartering SA, Lausanne (100.0%).
Associated companies: Noble Chartering SA, Lausanne/VD, Switzerland/CH
Ardega Holdings SA, Lausanne/VD, Switzerland/CH
Noble Investments SA, Zuerich/ZH, Switzerland/CH
BOARD OF DIRECTORS:
Richard Elman, from United Kingdom, in Hong Kong/China,
President, collective signature.
Elliot S.
Spitz, from Etats-Unis, Grande-Bretagne, in London/United Kingdom,
Managing Director, collective signature.
Michel Bally,
from Lausanne, in Lausanne/VD/Switzerland,
Member, collective signature.
Diego Barbero, from Zollikon, in Singapour/Singapore,
Member, collective signature.
Graham E. Laird, from United Kingdom, in Pully/VD/Switzerland,
Member, collective signature.
Henry Nizan, from Cham, in Zug/ZG/Switzerland,
Member, collective signature.
Hubert Anthony Voltolina, from Italy, in Singapour/Singapore,
Member, collective signature.
PERSONNEL INFORMATION:
Richard Elman is also president with collective signature of the company
Noble Investments SA in Zurich.
Elliot S. Spitz is also delegate of the Board of Noble Chartering SA in
Lausanne.
The top-level members of the management enjoy a good reputation in
business affairs.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)