MIRA
INFORM REPORT
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Report Date : |
27.02.2007 |
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 |
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RATING |
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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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:
- Kolmar
Fibres AG, Zug
Josef
Bollag:
- Eltan
Holding AG, Zug
- Elinex
Holding AG, Zug
- Eltaver
AG, Zug
- Frenziek
AG, Zug
- 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 |
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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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions