MIRA
INFORM REPORT
|
Report Date : |
11.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
METINVEST
INTERNATIONAL SA |
|
|
|
|
Formerly Known as : |
LEMAN
COMMODITIES SA |
|
|
|
|
Registered Office : |
Rue
Adrien-Vallin 2 1201 Geneve/GE |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Date of Incorporation : |
04.04.1997 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trader of Raw Materials, essentially Steel from Ukraine. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
EUR 2.500.000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Name of the company
Metinvest International SA
Line of Business
Commerce
d'aciers
Legal domicile
Rue
Adrien-Vallin 2
1201 Geneve/GE
Switzerland
Telephone: 022 9061828
Fax: 022 9061829
Homepage: www.metinvestholding.com
|
overall
assessment: |
|
|
|
|
Business connections are
permissible. |
|
|
detail
assessment: |
payments: |
|
|
|
No complaints |
|
|
|
individual
credit limit*: |
EUR 2.500.000,-- |
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: 04-04-1997
First Publication: 18-04-1997
Last
Publication: 24-06-2008
Share
capital: 50.000.000
Paid up: 50.000.000
Divided
into: 50.000 Registered shares of 1.000
History: 23-01-2006 50.000.000 Capital increase
29-07-2002 7.500.000 Capital increase
100.000 Capital by incorporation
Direct Parent com.
Metinvest BV,
Amsterdam, Netherlands/NL with a share of 100.
Company Management
Andrey Parkhomchuk
Registered name
12-12-2007 Metinvest International SA
Previous Leman Commodities SA
ACTIVITY
Activity:
It deals with
the trading of raw materials, essentially steel from
Ukraine.
Regarding exports,
it has exclusive contracts with Ukrainian factories such as Azovstal and
Enakievo.
The main
markets of Metinvest International are Middle East and Far East, Africa, Europe
and American countries.
Products are
sold in 75 countries.
In 2007, Metinvest
International sold 9.5 MT of steel, Produced at 95% in the group factories.
These are mainly located in the DOnets Basin.
Locations:
In addition to
Geneva, Leman Commodities has representative offices in
Donetsk/Ukraine,
Moscow/Russia, Istanbul/Turkey, Beyrouth/Lebanon,
Beijing/China,
Shanghai/China, Singapore, Santo Domingo/Dominican
Republic,
Belgrade/Serbia and Montenegro, Teheran/Iran,
Vilnius/Lithuania,
Abuja/Nigeria, Assago/Italy, Atmaty/Kazakhstan,
Ashkhabad/Turkmenistan
and Khartoum/Sudan.
EMPLOYEES
Number of
employees: 60
Including
branches, the total of employees is over 200 persons.
PAYMENT AND FINANCIAL DATA
PAYMENT
EXPERIENCES:
Legal
actions: No legal actions,
distraints or loss certificates
registered.
Report from 13-11-2003,
in 1200 Geneve.
Report from 04-08-2003,
in 1200 Geneve.
Report from 30-01-2003,
in 1200 Geneve.
A current check
of the legal actions requires a document of justification with a legitimate
signature..
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.
Key figures
(in USD 1.000):
31.12.2006 31.12.2004 31.12.2003
31.12.2002
Sales 3'467'945.5 3'843'964.0 1'805'479.0
1'021'245.5
Consolidated
key figures (in USD 1.000.000):
Metinvest
Group
31.12.2006 31.12.2005
Sales 5'650.0 4'483.0
Profit/Loss 1'026.0 612.0
Banker(-s)
UBS Ltd, 1200
Geneve
Credit Suisse
(CS), 1200 Geneve
BNP Paribas
(Suisse) SA, Geneve
Auditors
BDO
International SA, Geneve
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.: Metinvest BV, Amsterdam,
Netherlands/NL with a share of 100.
In October
2005, Leman Commodities SA (which has become Metinvest
International SA)
was acquired by the Dutch company METINVEST BV, which
in turn is
fully owned by SYSTEM CAPITAL MANAGEMENT (SCM), based in
Donetsk
(Ukraine).
Founded in
2000, the company SCM is a major industrial holding, which
plays a vital role
in economics in the Ukraine and Eastern Europe.
The SCM Group
directly and indirectly controls more than 90 companies
with
activities in steel and coal, production and distribution of
energy,
insurance and banking, food and beverages catering and
gastronomy
services.
In addition
SCM is also major sponsor of the football club "FC
Shakhtar",
which regularly participates in UEFA Cup and the Champions
League.
SCM employs
160'000 persons and belongs totally to the Ukranian oligarch
Rinat Akhmetov
and his wife (wealth estimated more than USD 4 billion).
Associated
companies: Metinvest-SMC, Kiev, Ukraine/UA
Metinfest-Eurasia,
Moscou, Russia/RU
Metinvest-Ukraine, Kiev,
Ukraine/UA
BOARD OF
DIRECTORS:
Andrey Parkhomchuk, from Russia, in
Donetsk/Ukraine,
President, sole
signature.
Patrick Burki, from
Geneve, in
Barbengo/TI/Switzerland,
Member.
Raymond Liefooghe, from
Geneve, in
Geneve/GE/Switzerland,
Member, sole signature.
Sergiy Novikov, from
Ukraine, in Donetsk/Ukraine,
Member.
Joseph Eric Riedweg,
from Geneve, in
Confignon/GE/Switzerland,
Member, sole signature.
MANAGEMENT:
Violette Martinez, from
France, in Ville la
Grand/France,
Director, collective
signature.
Jacques Piekarski, from
Le Cret FR, in
Grandvaux/VD/Switzerland,
Director, collective
signature.
Ornella Donati-Liege, from Malvaglia, in
Meyrin/GE/Switzerland,
Authorised signatory,
collective signing
authority.
Elena Karnakova, from
Geneve, in
Geneve/GE/Switzerland,
Authorised signatory,
collective signing
authority.
Mar'yan Maksymovych,
from Ukraine, in
Geneve/GE/Switzerland,
Authorised signatory,
collective signing
authority.
Lasma Osina, from
Latvia, in Gilly/VD/Switzerland,
Authorised signatory,
collective signing
authority.
Alexander Senchenko, from Russia, in
Laconnex/GE/Switzerland,
Authorised signatory,
collective signing
authority.
Viktor Vukusic, from
Serbie, in
Geneve/GE/Switzerland,
Authorised signatory,
collective signing
authority.
PERSONNEL INFORMATION
Andrey
Parkhomchuk and Sergiy Novikov have no other assignement in
Switzerland.
Raymond
Liefooghe is former general director of UEB United European Bank
in Geneva.
He is
associate indefinitely responsible with individual signature of
Raymond
Liefooghe Consultant & Cie, ch. Rieu 15A in Geneva.
Joseph Eric
Riedweg, born on 31 January 1949, is a certified accountant
by profession.
In addition he is the founder and sole board member with
individual
signature of Audiconsult SA, at the address Rue du Cendrier
15 in Geneva.
He features on
the board of more than 35 companies.
FURTHER MANDATES
Patrick Burki:
- Connecting
Nature Sarl, Geneve
Raymond
Liefoogh:
- SUCAFINA
INGREDIENTS SA, Geneve
- Sucafina SA,
Geneve
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.20 |
|
UK Pound |
1 |
Rs.81.48 |
|
Euro |
1 |
Rs.64.27 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)