MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
VITOL SA |
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Registered Office : |
Bvd du
Pont-d'Arve 28 1205 Geneve/GE |
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Country : |
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Date of Incorporation : |
22.03.1972 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trade of
Petroleum 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
250.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
Vitol SA
Line of Business
Produits
petroliers
Legal domicile
Bvd du
Pont-d'Arve 28
1205 Geneve/GE
Business address
Case postale
384
1205 Geneve/GE
Switzerland
Telephone: 022
3221111
Fax: 022
7816611
Homepage: www.vitol.com
E-Mail: info@vitol.com
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Overall
Assessment: |
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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 250.000,-- |
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
First
Publication: 22-03-1972
Last
Publication: 14-11-2006
Share
capital: 4.900.000
Paid up: 4.900.000
Divided
into: 4.900 Registered shares of 1.000
Direct Parent com.: Vitol
Holding SARL, 1205 Geneve/GE with a share of 100.
Company Management: David B.
Fransen Roland Favre
ACTIVITY
Line of
business: Trade of petroleum
products.
Sector: Wholesale
Activity:
Vitol SA is
involved in the purchase, distribution and sale of fuels,
refined fuel
products of all kinds, as well as similar products in this
field.
Import: Russia, Middle
East
EMPLOYEES
umber of
employees: 90
Vitol employs
around around a hundred collaborators in Rotterdam/Netherlands.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal
actions: No legal actions,
distraints or loss certificates registered.
Report from
12-06-2003, in 1200 Geneve.
A current
check of the legal actions requires a document of
justification
with a legitimate signature..
The payments
of current liabilities are made regularly on time. The
business conduct
is considered excellent
FINANCIAL DATA:
Financial
position: The financial situation is
considered solid.
Financial
Statements: The company does not disclose any financial statements.
VITOL GROUP
(in billions of USD)
Turnover:
2007: 146.7
2006: 116
2005: 82.4
2004: 61.2
Banker(-s): UBS Ltd,
1200 Geneve
Credit Suisse (CS), 1200
Geneve
Banque Paribas (Suisse)
SA, Geneve
Credit Lyonnais (Suisse)
SA, Geneve
ING Bank, Amsterdam
ABN Amro Bank, Rotterdam
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, same address in Geneva, has been registered in the
trade register
since 14 November 1978 and operates with a share capital
of CHF
2'000'000.--.
The latter, in
turn, is wholly controlled by the company Vitol Holding
BV, in
Rotterdam.
The group
Vitol Holding BV controls 60 to 70 companies throughout the
world.
The Vitol
Holding SARL wholly owns the following companies:
- Arkham SA,
Geneva
- Astrigas SA,
Geneva
- Euromin
SA,Geneva
- Vitol
Central Asia SA, Geneva
- Vitol Energy
SA, Geneva
- Vitol GPC
Investments SA, Geneva
- Vitol R
& M SA, Geneva
- Vitol SA,
Geneva
- Vitol Sugar
SA, Geneva
- Vitor
Refining SA, Geneva
Associated
companies: Arkham SA, Geneve/GE, Switzerland/CH
Euromin SA, Geneve/GE,
Switzerland/CH
Vitol Central Asia SA,
Geneve/GE, Switzerland/CH
Vitol Energy SA,
Geneve/GE, Switzerland/CH
Vitol GPC Investments SA,
Geneve/GE,
Switzerland/CH
Astrigas SA, Geneve/GE,
Switzerland/CH
Vitol R & M SA, Geneve/GE,
Switzerland/CH
Vitol Refining SA,
Geneve/GE, Switzerland/CH
Vitol Sugar SA,
Geneve/GE, Switzerland/CH
BOARD OF DIRECTORS:
David B. Fransen, from
United Kingdom, in
Chene-Bougeries/GE/Switzerland,
President and Managing
Director, sole signature.
Gerard Delsad, from
France, in
Grand-Lancy/GE/Switzerland,
Member, sole signature.
Roland Favre, from Pont
(Veveyse), in
Vandoeuvres/GE/Switzerland,
Member, sole signature.
MANAGEMENT:
Robert J. Dean, from United
Kingdom, in
Thonex/GE/Switzerland,
Director, sole signature.
PERSONNEL INFORMATION
David Bernard
Fransen, born on 4 March 1958, married to Sarah born
German on 5
April 1960, lives in 1224 Chene-Bougeries, chemin du
Vieux-Clos 36,
where he and his wife are owners. He is furthermore
administrator
or director of several other companies of the group Vitol.
Roland Favre
was born on 14 February 1949. He privately lives domiciled
in 1253
Vandoeuvres, ch. de Lulasse 9.
In additon, he
features on the Boards of various companies of the Vitol
Group. He is
also managing partner with individual signature of Eurotank
Holding Sarl,
Geneva.
FURTHER MANDATES
Roland Favre:
- Anker
Participations SA, Geneve
- Anker Trading
SA, Geneve
- Ventspils
Tank Services SA, Geneve
- Vitol
Anthracite SA, Geneve
- Vitol
Charitable Foundation, Geneve
David Bernard
Fransen:
- Anker
Participations SA, Geneve
- Anker
Trading SA, Geneve
- Arkham SA,
Geneve
- Carbon Resource
Management SA, Geneve
- Vitol
Anthracite SA, Geneve
etc.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
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%)