MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
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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Financial as on : |
31.12.2007 |
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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 : |
Supplier of Raw Materials to the Metals Industry |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 2.500.000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
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
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overall
assessment: |
250 |
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Business connections are
permissible. |
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detail
assessment: |
payments: |
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No complaints |
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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: 18-07-2001
First Publication: 24-07-2001
Last Publication: 20-06-2008
Share capital: 3.900.000
Paid up: 3.900.000
Divided into: 3.900
Special registered 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 manganse 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 sectores.
Significance:
The company is well known worldwide. It is
one of the leading companies in its
business sector.
EMPLOYEES
Number of employees: 70
In 2007, the group employed more than
10'000 people.
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.
Consolidated key figures (in USD
1.000.000):
Noble Group Limited
31.12.2007
31.12.2006 31.12.2005
31.12.2004
Sales 23'497.1
13'765.4 11'690.9 8'622.0
Profit/Loss 258.1
134.5 231.9 289.0
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 the balance sheet as of 31 December 2002, the company took over universally
and without liquidation, in the sense of art. 748 CO, assets and liabilities of
the companies:
- Noble Coffee SA, Lausanne
- Noble Grain SA, Lausanne
- Noble Sugar SA, Lausanne
According to the merger agreement of 18
June 2004 and balance sheet as of 31 December 2003, the company took over
universally and without liquidation, in the sens of art. 748 CO, assets and
liabilities of the companies:
- Noble Cocoa SA, Lausanne.
Contribution in kind: acording to the
contract of 14 December 2005: 240 registered shares of USD 0,01 of Noble
Americas Corp., in Wilmington (USA),
for CHF 2'800'000; in return, 2'800 shares
of CHF 1'000.—- are handed over.
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 America, in
Lausanne/VD/Switzerland,
Managing
Director, collective signature.
Thorsten Ansorg, from Germany, in
Bebra/Germany,
Member, 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 lives in Hong-Kong.
He does not appear in the board of
directors of any other company in Switzerland.
Elliot S. Spitz is also managing director
of Noble Chartering
SA in Lausanne.
The persons at the head of this company
have a good personal and commercial reputation.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)