MIRA
INFORM REPORT
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Report Date : |
17.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLAY-BUCHEL
ET CIE SA |
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Registered Office : |
Case Postale 1000
Lausanne 3/VD |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.01.1897 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Specialises in the Wholesale Trading, Cutting, Finshing and Polishing of Gemstones, Pearls, Gold Worked
Jewelry and Diamonds |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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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Regular |
Name of the company
Golay-Buchel
et Cie SA
Line of Business
Pierres et
perles pour bijouterie
Legal domicile
avenue de
Rhodanie 60
1007
Lausanne/VD
Business address
Case postale
1000 Lausanne
3/VD
Switzerland
Telephone: 021 6137777
Fax: 021 6137700
Homepage: http://www.golay.com
E-Mail: contact@golay.com
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: 01-01-1897
Last
Publication: 24-08-2007
Share
capital: 1.500.000
Paid up: 1.500.000
Divided
into: 15.000 Special registered shares of 100
Direct Parent
com.: Golay-Buchel
Holding SA, 1007 Lausanne/VD with a share of 100.
Company
Management: Christoph A. Meyer
Christian-Louis Col
ACTIVITY:
Sector: Manufacture
Activity:
The company
specialises in the wholesale trading, cutting, finshing and polishing of
gemstones, pearls, gold worked jewelry and diamonds.
In 2006 the
Group Golay Buchel has sold it's working equipment for precious stones, it's
participation in Signity AG in Horgen and it's building in Lausanne.
Since then the
wholesale trading has become the main activity of Golay Buchel.
It's main
activities are:
- diamonds
- precious
stones (saphires, rubis and smaragds)
- jewels and
precious metals
EMPLOYEES:
Number of
employees: 80
PAYMENT AND FINANCIAL DATA
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PAYMENT EXPERIENCES:
Legal
actions: No legal actions, distraints or loss certificates registered.
Report from 21-08-2001, in 1000 Lausanne.
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.
The
shareholders' shares and other shares are quoted at the secondary stock
exchange of the stock exchange department, shares with numbers 183, 183. 183,
186.
Consolidated
key figures (in CHF 1.000):
Groupe Golay
Buchel
31.12.2007 31.12.2006 31.12.2005 31.12.2004
Sales 101'000.0 138'896.0 136'265.0 224'579.0
Depreciation 4'125.0 5'811.0 7'030.0
Profit/Loss 14'346.0 491.0 -9766.0
Cash-Flow 35'109.0 1'926.0 -1331.0
Investments -42380.0 2'320.0 6'086.0
Shareholder
funds 87'715.0 82'046.0 80'419.0
Balance sheet
total 152'636.0 146'732.0 160'555.0
Employees 804 910 940
Banker(-s)
UBS Ltd, 1000 Lausanne
Credit Suisse
(CS), 1000 Lausanne
Cantonal Bank
of Vaud (BCV), 1000 Lausanne
Auditors
Fidinter SA,
Lausanne
As of 31
December 2004, the book value of the land and buildings amounted to CHF
4,666'000.--
The insurance
amount is around CHF 19'259'000.--.
COMPANY AND PERSON RELATIONS
COMPANY
CONNECTIONS:
Direct Parent
com.: Golay-Buchel Holding SA, 1007
Lausanne/VD with a share of 100.
Shareholder(s): Golay-Buchel Holding SA, Lausanne.
Golay-Buchel
Holding SA, same address, is registered in the commercial register since 15
January 1968 and operates with a fully liberalized share capital of CHF
9,000,000.--.
Main share
holders:
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- L.A.G.
Finances SA, Lausanne 28.55%
- 3V Asset
Management Ag, Zurich 12.25%
- LB (Swiss),
Investement AG, Zurich 5.06%
- Vorsorgestiftung
VSAO, Bern 3.57%
It is to
notify that the total amount of the share capital of L.A.G.
Finances SA,
company representing the families of the founder has been
transferred in
December 2007 to the investment company NORINVEST HOLDING SA in Geneva.
This will help
the Golay Group to diversify in the Bank field.
Golay-Buchel
Holding SA holds further majority participations in the following companies:
- GB Far East
Holdings Ltd; Hong Kong
- Golay Buchel
(Thailand) Ltd, Bangkok/Thailand
- Golay Buchel
+ CO (HK) Ltd, Hongkong
- Golay Buchel
Japan KK, Kobe/Japan
- Golay Buchel
Paris SAS, Paris/France
- Golay Buchel
SA, Barcelona, Spain
- Golay Buchel
Trading KK, Osaka/Japan
- Golay Buchel
USA Ltd, New York/USA
- Golay Buchel
Zuchtperlenhandel GmbH, Munich/Germany
- Golay Pte,
Singapore
- Golay Sdn
Ghd, Kuala Lumpur/Malaysia
- Golay SpA,
Vicenza, Italy
- R. Colin SA,
St-Claude/ France
and SSP Tokyo
KK; Tokyo/ Japan for 50%
Direct Investments:
Golay Buchel Philippines
Inc, Manilles,
Philippines/PH (100.0%).
BOARD OF DIRECTORS:
Christoph A. Meyer, from
Zuerich, in
Sutz-Lattrigen/BE/Switzerland,
President and Managing Director,
collective
signature.
Christian-Louis Col,
from France, in
Pully/VD/Switzerland,
Secretary, Director,
collective signature.
MANAGEMENT:
Urs Geisser, from Luzern, Diepoldsau, in
Belmont-sur-Lausanne/VD/Switzerland,
Director, collective
signature.
Yvonne Baur, from
Winterthour, in
Lausanne/VD/Switzerland,
Authorised signatory,
collective signing
authority.
Thierry Christe, from
Bale, in
Lausanne/VD/Switzerland,
Authorised signatory,
collective signing
authority.
Kurt Goetti, from
Zuerich, in Pully/VD/Switzerland,
Authorised signatory,
collective signing
authority.
Michel Lutz, from Thal, in
Ecublens/VD/Switzerland,
Authorised signatory,
collective signing
authority.
Theodore Panos, from
Chavannes-pres-Renens, in La
Tour-de-Peilz/VD/Switzerland,
Authorised signatory,
collective signing
authority.
PERSONNEL INFORMATION:
The top-level
members of the management of the society enjoy a faultless
reputation in
business affairs.
FURTHER MANDATES
Christoph A.
Meyer:
- Meyer
Sintermetall AG, Studen/BE
- Powdermet
Holding AG, Studen/BE
- Take-off
Balloon AG, orenges
COMMENTS
The final
report of the year 2007 is not yet made public.
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%)