MIRA INFORM REPORT

 

 

Report Date :

30.06.2011

 

 

IDENTIFICATION DETAILS

 

Name :

KOLMAR GROUP AG

 

 

Registered Office :

Metallstrasse 9, Laubehof, 6300 Zug

 

 

Country :

Switzerland

 

 

Date of Incorporation :

03.02.1997

 

 

Com. Reg. No.:

170.3.021.172-8 / 393173

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

Subject is a “Virtual” Integrated Petroleum and Petrochemicals company

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

CHF 2'500'000

Status :

Good

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Switzerland

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

Company name

 

Kolmar Group AG

 

 

Operating address

 

Metallstrasse 9

Laubehof

6300 Zug

Switzerland/CH

Telephone:                      041 7275700

Fax:                               041 7275701

Web site:                        http://www.kolmargroup.com

E-mail:                            functiontrading@kolmarpetro.com

 

 

Profile

 

Established:                  1997

Line of Business:           Financial services, Trade brokers

Industry Division:           Services, Wholesale trade

Industry-code (NACE):     6420     Activities of holding companies

                                      4612     Agents involved in the sale of fuels, ores, metals and industrial chemicals

Import/Export:               Agent

Banks:                         unknown

 

 

Operational Figures

 

Coverage:                      Group

Employees:                  150-249

Sales:                          USD 2-4 Bil

 

 

Activity

 

The company is a “virtual” integrated Petroleum and Petrochemicals company. Its product spectrum extends from heavy Petroleum to lighter Petroleum products, a large variety of Petrochemicals and Energy products like different biofuels and coal. The company has 20 offices in the Far and Middle East, Europe, North and South America.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:                170.3.021.172-8 / 393173

Legal form:                    Company limited by shares

Registration:                 03.02.1997

Legal status:                 active

Responsible Register:    Handelsregister des Kantons Zug

Auditor:                        PricewaterhouseCoopers AG, Zürich

History:                        Date of Statutes: 02.12.2009

                                    Date of Statutes: 05.05.2008

                                    Date of Statutes: 30.11.2007

                                    Date of Statutes: 22.02.2007

                                    Date of Statutes: 27.10.2006

                                    Date of Statutes: 03.07.2006

                                    Date of Incorporation Statutes: 31.01.1997

 

Entry            Deleted   Name

26.02.2007                    Kolmar Group AG

26.02.2007                    Kolmar Group SA (Name translated)

26.02.2007                    Kolmar Group Ltd (Name translated)

03.02.1997    26.02.2007  Kolmar Petrochemicals AG

03.02.1997    26.02.2007  Kolmar Petrochemicals Ltd (Name translated)

03.02.1997    26.02.2007  Kolmar Petrochemicals SA (Name translated)

 

Entry            Deleted   Legal domicile

03.02.1997                    Zug, Switzerland

 

Entry            Deleted   Address

12.05.2000                    Metallstrasse 9, 6304 Zug/ZG, Switzerland/CH

03.02.1997    12.05.2000  Alpenstrasse 11, 6300 Zug/ZG, Switzerland/CH

 

Entry            Deleted   Capital

03.02.1997                    Share Capital CHF 8'400'000, paidup CHF 8'400'000

 

Entry            Deleted   Capital Structure

03.02.1997                    8'400 Registered shares of CHF 1'000.--

 

Entry            Deleted   Activity (original Language)

26.02.2007                    Handel mit Petrochemikalien, Polymeren, Rohöl, Rohölprodukten und industriellen Rohstoffen aller Art für eigene und fremde Rechnung sowie mit Gruppengesellschaften, Erwerb, Halten und Verwaltung von Beteiligungen an Gesellschaften der Kolmar-Gruppe; kann damit zusammenhängende Dienstleistungen erbringen oder vermitteln und Finanzierungen durchführen, sich an anderen Unternehmen beteiligen oder sich mit anderen Unternehmen zusammenschliessen und Unternehmen, an denen sie beteiligt ist, direkt oder indirekt finanzieren, Grundstücke erwerben, halten, belasten und veräussern.

11.07.2006    26.02.2007  Handel mit Petrochemikalien, Polymeren, Rohöl, Rohölprodukten und industriellen Rohstoffen aller Art für eigene und fremde Rechnung; kann damit zusammenhängende Dienstleistungen erbringen oder vermitteln, Finanzierungen durchführen, Tochtergesellschaften errichten, sich an anderen Unternehmen beteiligen, Unternehmen, an denen sie beteiligt ist, direkt oder indirekt finanzieren sowie Grundstücke erwerben, halten, belasten und veräussern

03.02.1997    11.07.2006  Handel mit Petrochemikalien für eigene und fremde Rechnung; kann damit zusammenhängende Dienstleistungen erbringen oder vermitteln, Finanzierungen durchführen, sich an anderen Unternehmen beteiligen oder sich mit anderen Unternehmen zusammenschliessen, Unternehmen, an denen sie beteiligt ist, direkt oder indirekt finanzieren sowie Grundstücke erwerben, halten, belasten und veräussern

 

Entry            Deleted   Remarks (original Language)

10.12.2009                    Dividend right certificates: 390 Genussscheine, mit Rechten auf Anteil am Bilanzgewinn gemäss Statuten.  

16.05.2008                    Reports: Die Mitteilungen an die Aktionäre erfolgen durch eingeschriebenen Brief oder Kurier gegen Empfangsbestätigung oder sofern das Gesetz nicht zwingend etwas anderes bestimmt, durch Veröffentlichung in SHAB 

03.02.1997                    Publishing authority: SHAB.

 

 

Official Administration

 

Title                                           Name

President                                    Ruth Sandelowsky, Origin: Netherlands, Address: Zug/ZG, Switzerland, joint signature of two

Vice-President                            Rafael Aviner, Origin: Germany, Address: Weston, United States of America, joint signature of two

Company Secretary                     Herbert C. Schlaubitz, Origin: Meikirch, Switzerland, Address: Walchwil, Switzerland, joint signature of two

Executive Director                       Dr. Moshe Michael Glass, Origin: Zürich, Switzerland, Address: Zürich/ZH, Switzerland, joint signature of two

Executive Director                       Dr. Josef Bollag, Origin: Endingen, Switzerland, Address: Baden/AG, Switzerland, joint signature of two

 

 

Management

 

Title                                             Name

Member with signing authority         Chavdar Tzonev, Origin: Huttwil, Switzerland, Address: Schwyz, Switzerland,

                                                  joint signature of two

 

 

Executive board

 

Title                                           Name

Chief Executive Officer                 Chavdar Tzonev

 

 

Financial Data Kolmar Group

 

Consolidation:               consolidated (Segment)

Industry:                       Trade/Industry

 

Fiscal year end:                                     31.12.2009        31.12.2008        31.12.2007        31.12.2006        31.12.2005

Number of months:                                       12                    12                    12                    12                    12

Currency:                                                mil. USD           mil. USD           mil. USD           mil. USD           mil. USD

 

Operating revenue                                          2'850.0              3'950.0             3'200.0              2'200.0             1'650.0

 

Employees  at year end                                      170                   150                  120

Offices                                                                 20                    20                    20                    20                    20

 

 

Owner/-s

 

Owner:                         The company is domestic owned.

Class:                          30-39%

Name:                          Ameropa Holding AG

City/Country:                 Binningen, Switzerland/CH

Interest:                        33.33% voting right, 33.33% capital interest (since 1997)

 

 

Investments

 

Class:                          100%

Name:                          Kolmar Americas Inc

City/Country:                 Bridgeport, United States of America/US

Interest:                        100.00% voting right, 100.00% capital interest

 

Class:                          100%

Name:                          Kolmar Fibres AG

City/Country:                 Zug, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest (since 1999)

 

Class:                          100%

Name:                          Kolmar Japan KK

City/Country:                 Tokyo, Japan/JP

Interest:                        100.00% voting right, 100.00% capital interest

 

Class:                          100%

Name:                          Kolmar Singapore Pte Ltd

City/Country:                 Singapore, Singapore/SG

Interest:                        100.00% voting right, 100.00% capital interest

 

Class:                          100%

Name:                          Kolmar UK Limited

City/Country:                 London, United Kingdom/GB

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Legal Actions

 

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

 

 

Credit Information

 

Financial Situation:        The financial situation is good.

 

Payment experiences:   Payment habits are considered good.

 

Maximum Credit:           CHF 2'500'000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.91

Euro

1

Rs.64.60

 

 

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

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

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.