MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
tt Timber International AG |
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Registered Office : |
Elisabethenanlage 11, Postfach 4010
Basel, 4051 Basel/BS |
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Country : |
Switzerland |
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Date of Incorporation : |
12-09-1952 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of forest products |
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
100.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Business
connections are permissible |
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Detail assessment: |
Payments: |
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Regular
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Individual credit
limit*: |
EUR 100.000,-- |
Name
tt Timber
International AG
Line of Business
Holzhandel
Legal domicile
Elisabethenanlage
11
4051 Basel/BS
Business address
Elisabethenanlage
11
Postfach 4010
Basel
4051 Basel/BS
Switzerland
Telephone: 061
2055252
Fax: 061
2726918
Homepage: www.tt-timber.ch
All amounts in
this report are given in Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal
form: Joint stock company
First
Publication: 12-09-1952
Last
Publication: 15-11-2007
Share
capital: 1.550.000
Paid up: 1.550.000
Divided
into: 1.400 Registered shares of 1.000
1.500 Voting shares of 100
Participation
capital: 3.100.000
3.100 Participation certificates at 1.000
History: 26-09-2001 1.550.000 Capital decrease
4.500.000 Previous capital
Shareholders: It is a family owned joint stock company.
Company
Management: Thomas Meier
Registered
name 03-10-2001 tt Timber
International AG
Previous Tropical Timber AG
ACTIVITY:
Line of
business: Trading of forest products
Sector: Wholesale
Activity:
The tt Timber
Group is an independent group of companies operating worldwide with
subsidiaries in eleven countries. The Group is involved in forest management
and the processing and trading of forest products.
Trading
area: International
Import/Export: The company is active in Import and
Export.
EMPLOYEES:
Number of
employees: 32
The company
employs 30 to 32 people.
PAYMENT AND FINANCIAL DATA
PAYMENT
EXPERIENCES:
Legal
actions: No legal actions, distraints
or loss certificates registered.
Report from 07-02-2005,
in 4001 Basel.
A current
check of the legal actions requires a document of justification with a
legitimate signature.
There are no
recorded complaints on the business conduct of the company and current
liabilities are settled in an orderly manner.
FINANCIAL
DATA:
Financial
position: The financial affairs are
considered to be in order.
Financial
Statements: The company does not disclose any financial statements.
Third parties
are however not permitted any insight into the financial affairs.
Banker(-s):
UBS Ltd, 4000 Basel
Auditors: Ernst & Young AG, Basel
Premises: The premises at the above mentioned address
are rented.
Real estate
property: No real estate is owned.
Fiscal
taxation : No information is available due to the local tax authority
regulation.
COMPANY AND PERSON RELATIONS
COMPANY
CONNECTIONS:
The tt Timber
Group is a family enterprise.
Investments:
No investments apparent.
BOARD OF
DIRECTORS:
Carsten
Vindnaes, from Denmark, in Stenlose/Denmark,
President,
collective signature.
Robert Anton
Leo Marie Hunink, from Netherlands, in Reinach/BL/Switzerland,
Member,
collective signature.
Wilhelm
Schnyder, from Altendorf, Basel, in Bottmingen/BL/Switzerland,
Member,
collective signature.
MANAGEMENT:
Thomas Meier,
from Baerschwil, in Reinach/BL/Switzerland,
Director,
collective signature.
Stephane
Glannaz, from France, in Moncley/France,
Vice Director,
collective signature.
Marc Prevost,
from France, in Basel/BS/Switzerland,
Vice Director,
collective signature.
Uwe Grabau,
from Germany, in Inzlingen/Germany,
Authorised
signatory, collective signing authority.
Laurent
Grosdidier, from France, in Hangenthal-le-bas/France,
Authorised
signatory, collective signing authority.
Wolf-Ruediger
Kuehns, from Germany, in Binzen/Germany,
Authorised signatory,
collective signing authority.
PERSONNEL
INFORMATION:
Robert Hunink
lives at Hollenweg 55a in 4153 Reinach, canton Basle-Country.
Wilhelm called
Willy Schnyder is married to Iris nee Buenter and lives at the address Im
Bertschenacker 47 in 4103 Bottmingen.
There are no
detrimental reports on the mentioned persons' business conduct.
FURTHER
MANDATES:
Wilhelm
Schnyder:
- CBA Commerce
des Bois Africains AG, Basel
- CFA -
Abeilles Holding SA, Basel
- Rhein
Treuhand & Consulting AG, Basel
- Titradeco
SA, Basel
COMMENTS:
According to
the information provided to us, the company is currently undergoing several
in-house changes. Further details regarding these changes are however not
provided to us at present.
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%)