MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
EUROMIN SA |
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Formerly Known as : |
Vitol Metals
SA |
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Registered Office : |
Bd du Pont-d'Arve 28 1205
Geneve |
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Country : |
Switzerland |
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Date of Incorporation : |
18.12.1991 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trade with Nonferrous Metals, Nonferrous Semi-Finished Products and Other Derivated Products |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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
Euromin SA
Line of Business
Metaux non ferreux
Legal domicile
Bd du
Pont-d'Arve 28
1205 Geneve/GE
Business address
Case postale
162
1211 Geneve
8/GE
Switzerland
Telephone: 022 3282385
Fax: 022 3282385
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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 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: 18-12-1991
First Publication: 09-01-1992
Last
Publication: 25-05-2005
Share
capital: 20.000.000
Paid up: 20.000.000
Divided
into: 20.000 Registered shares of 1.000
History: 19-12-1996 20.000.000 Capital increase
10-04-1995 11.000.000 Capital increase
01-06-1993 1.000.000
Capital increase
50.000 Capital by
incorporation
Direct Parent com.
Vitol Holding
SARL, 1200 Geneve, Switzerland/CH with a share of 100.
Company Management
Nils C. Ovesen
Registered
name 21-01-1993 Euromin SA
Previous Vitol Metals SA
ACTIVITY
Activity:
The company is
engaged in the trade with nonferrous metals, nonferrous
semi-finished
products and other derivated products.
EMPLOYEES
Number of
employees: 5
Vitol SA
employs 90 people.
The Vitol
Group employs around 1,000 people.
PAYMENT AND FINANCIAL DATA
PAYMENT
EXPERIENCES:
Legal
actions: No legal actions or distraints
are registered.
Report from 13-11-2000,
in 1200 Geneve.
A current
check of the legal actions requires a document of justification with a
legitimate signature.
There are no
complaints about the mode of payment and business conduct.
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):
Vitol Group
31.12.2007
31.12.2006 31.12.2005 31.12.2004
Sales 146'700.0 116'000.0 82'400.0 61'100.0
Banker(-s)
BNP Paribas
(Suisse) SA, Geneve
ING Bank,
Rotterdam
ABN Amro, 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, 1200 Geneve,
Switzerland/CH
with a
share of 100.
Vitol Holding
SARL, at the same address, was registered in the
commercial register
on 14 November 1978. The latter's fully liberalized
share capital
amounts to CHF 2'000'000.--.
The latter in
turn is owned by Vitol Holding BV in Rotterdam.
The Vitol
Group controls 60 to 70 companies worldwide.
Vitol Holding
SARL holds 100 % of the capital in the following
companies:
- Arkham SA,
Geneva
- Euromin SA,
Geneva
- Vital
Central Asia SA, Geneva
- Vitol Energy
SA, Geneva
- Vitol R
& M SA, Geneva
- Vital
Refining SA, Geneva
- Vitol SA,
Geneva
- Vitol Sugar
SA, Geneva
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.
MANAGEMENT:
Nils C. Ovesen, from
Sweden, in
Geneve/GE/Switzerland,
Director, sole
signature.
PERSONNEL INFORMATION
Roland Favre,
born on 14 February 1949, features on the Boards of the
following
companies:
- Anchor
Insurance SA, Carouge
- Arkham SA,
Geneva
- Atlantank
SA, Geneva
- Rosco SA,
Geneva
- Vitol SA,
Geneva
- Vitol Energy
SA, Geneva
- Vitol R
& M SA, Geneva
- Vitol
Refining SA, Geneva
- etc.
He is also
director with individual signature of Vitol Sugar SA, Geneva
and managing
director with individual signature of Vitol Holding SARL,
Geneva.
FURTHER MANDATES
David B.
Fransen:
- Arkham SA,
Geneve
- Atlantank SA,
Geneve
- VITOL
EUROASIA SA, Luxembourg, succursale de Geneve, Geneve
- Vitol
Refining SA, Geneve
- Vitol SA,
Geneve
etc.
COMMENTS
Euromin SA
publishes no consolidated income statement and profit and
loss account.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)