MIRA INFORM REPORT
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Report Date : |
08.01.2007 |
IDENTIFICATION DETAILS
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Name : |
Vitol Energy SA |
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Registered Office : |
Rue des
Bains 33, 1211 Geneva |
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Country : |
Switzerland |
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Date of Incorporation : |
30-10-1986 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Wholesalers
of Petroleum products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 1.000.000 |
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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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There are no recorded complaints on the
business conduct of the company and current liabilities are settled in an
orderly manner. |
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Individual credit limit*: |
EUR 1.000.-- |
NAME & ADDRESS
Vitol Energy SA
Rue des Bains 33
1211 Geneva
Line of Business
Produits petroliers
Legal domicile
Bd du Pont-d'Arve 28
1205 Geneve/GE
Business address
Case postale 384
1211 Geneve 4/GE
Switzerland
Telephone: 022 3221111
Fax: 022
7816611
E-Mail: www.vitol.com
CREDIT ADVICE
Credit opinion:
A maximum credit amount of EUR 1.000.000
can be taken into consideration.
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: 30-10-1986
First Publication: 12-11-1986
Last Publication: 25-05-2005
Share capital: 1.000.000
Paid up: 1.000.000
Divided into: 1.000
Registered shares of 1.000
Direct Parent com.: Vitol
Holding SARL, 1205 Geneve/GE with a share of 100%.
Company Management: Roland Favre
ACTIVITY:
Line of business: Petroleum
products
Sector: Wholesale
Activity:
The company is engaged in the
international trade in petroleum products and derivates.
Course of business: Compared to the previous year the course of
business remained stable.
EMPLOYEES:
Number of employees: 2
Vitol SA, at the same address, employs 60
people.
The group employs about 400 staff.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: No legal actions
or distraints are registered.
Report from 11-02-2002, in 1200 Geneve.
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 good and in order.
Financial Statements: The
company does not disclose any financial statements.
Consolidated key figures (in USD
1.000.000):
Groupe Vitol
31.12.2005 31.12.2004 31.12.2003 31.12.2002
Sales 81'100.0 61'100.0 46'700.0 33'900.0
Banker(-s):
UBS Ltd, 1200 Geneve
Credit Suisse (CS), 1200 Geneve
BNP Paribas (Suisse) SA, Geneve
ABN Amro Bank, Rotterdam
ING Bank, Rotterdam
Credit Lyonnais (Suisse) SA, Geneve
Auditors: Ernst
& Young SA, Petit-Lancy
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 Parent com.: Vitol
Holding SARL, 1205 Geneve/GE with a share of 100%.
Vitol Holding SARL, at the same address,
was registered in the commercial register on 14 November 1978, share capital of
CHF 2'000'000.--.
The latter is wholly owned by Vitol Holding
BV in Rotterdam.
This holding controls 60 to 70 companies
worldwide.
Vitol Holding SARL has investments in the
following companies:
- Arkham SA, Geneva
- Vitol SA, Geneva
- Vitol Energy SA, Geneva
- Vitol Refining SA, Geneva
- Vitol Refining Capital Management SA,
Fribourg
- Vitol Sugar SA, Geneva
- Euromin SA, Meyrin
- R & M. Vito SA, Geneva
- Vitol Central Asia SA, Geneva
- Vitol Euroasia SA, Geneva
- Vitol NatGas SA, Geneva
Associated companies:
Vitol SA, Geneve/GE
Vitol Sugar SA, Geneve/GE
Vitol Refining SA, Geneve/GE
Vitol Ltd, Geneva was registered in the
commercial register on 22 March,
1972, with a fully liberalized share
capital of CHF 4'900'000.--.
BOARD OF DIRECTORS:
Roland Favre, from Pont (Veveyse), in
Vandoeuvres/GE/Switzerland,
President, sole signature.
David B. Fransen, from United Kingdom, in
Chene-Bougeries/GE/Switzerland,
Member,
sole signature.
Walter
Kuser, from Trogen, in
Borex/VD/Switzerland,
Member, sole signature.
MANAGEMENT:
Frida Haessig, from Oberwil, in
Geneve/GE/Switzerland,
Authorised signatory, sole signing
authority.
PERSONNEL INFORMATION:
Roland Favre, was born on 14 February
1949. In addition, he features on
the Boards of several companies of the
Vitol Group, inter alia the
following:
- Vitol SA, Geneva
- Vitol Refining SA, Geneva
- Vitol Sugar SA, Geneva
- R & M Vitol SA, Geneva
- Vitol Central Asia SA, Geneva
- Vitol Euroasia SA, Geneva
- Vitol NatGas SA, Geneva
- Vitol Refining Capital Management SA,
Fribourg
- Vitol Holding SARL, Geneva (managing
director)
- etc.
David B. Fransen is managing director with
individual signature of Vitol Holding SARL, Geneva and director with individual
signature of several companies of the Vitol Group.
Walter Kuser lives in 1277 Borex, at ch.
des Tourniaux 4.
He is a Board member with individual
signature of the following firms:
- Pajo Investments SA, Collonge-Bellerive
- Vitol Central Asia SA, Geneva
- Vitol Euroasia SA, Geneva
- Vitol NatGas SA, Geneva
- Vitol SA, Geneva
RATING EXPLANATIONS
RATING
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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 |