MIRA INFORM REPORT

 

 

Report Date :

20.01.2012

 

IDENTIFICATION DETAILS

 

Name :

OTTO'S AG

 

 

Registered Office :

Wassermatte 3 Postfach 6210 Sursee

 

 

Country :

Switzerland

 

 

Financials (as on) :

31.08.2010

 

 

Date of Incorporation :

11.09.1978

 

 

Com. Reg. No.:

100.3.008.746-0 / 467096

 

 

Legal Form :

Company Limited by Shares

 

 

Line of Business :

Operation of department stores

 

 

No. of Employees :

1'000-1'999

 

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 1'500'000

Status :

Satisfactory

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and address

 

OTTO'S AG

 

Operating address:

Wassermatte 3

Postfach

6210 Sursee

Switzerland/CH

 

Telephone:                    041 9250505

Fax:                             041 9250320

 

Web site:                      http://www.ottos.ch

E-mail:                         info@ottos.ch

 

VAT-No.:                      CHE106843612

 

 

Profile

 

Established:                  1978

Line of Business:           Consumer markets/Department stores

Industry Division:           Retail trade

Industry-code (NACE):   4719       Other retail sale in non-specialised stores

Import/Export:               Import

Banks:                         UBS Ltd

                                    CS Credit Suisse

 

 

Operational Figures

 

Coverage:                     Company

Employees:                  1'000-1'999

Sales:                          CHF 600-800 Mio

 

 

Activity

 

The business activities includes the operation of department stores. The range covers over 40,000 articles from the fields of furniture, textiles, food, non food, perfume, etc.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:                100.3.008.746-0 / 467096

Legal form:                    Company limited by shares

Registration:                 11.09.1978

Legal status:                 active

Responsible Register:    Handelsregister des Kantons Luzern

Auditor:                        BDO AG (CH-100.9.010.550-2), Luzern

History:                        Date of Statutes: 16.09.1999

                                    Date of Incorporation Statutes: 24.08.1978

                                    Date of Statutes: 18.04.2008

 

Entry          Deleted      Name

active                           OTTO'S AG

active                           OTTO'S SA (Name translated)

                  24.09.1999  Otto's Warenposten AG

 

Entry          Deleted      Legal domicile

active                           Sursee, Switzerland

 

Entry          Deleted      Address

active                           Wassermatte 3, 6210 Sursee/LU, Switzerland/CH

 

Entry          Deleted      Capital

active                           Share Capital CHF 7'000'000, paidup CHF 7'000'000

 

Entry          Deleted      Capital Structure

active                           7'000 Registered shares of CHF 1'000.--

 

Entry          Deleted      Activity (original Language)

06.06.2008                    Handel mit Waren aller Art, insbesondere Verkauf von Waren in eigenen Verkaufsgeschäften; Erwerb, Überbauung, Verwaltung und Veräusserung von Liegenschaften; Handel mit Beteiligungen; Vornahme von Finanz- und Leasinggeschäften; Abschluss und Vermittlung von Lizenzverträgen; Kauf und Verkauf von Patenten.

                  06.06.2008  Verkauf von wasser-, transport- und brandgeschädigten Waren sowie Produktionsüberschüssen aller Art; der Verkauf kann über permanente Verkaufsstellen als auch über sogenannte Wanderlager durchgeführt werden; Beteiligungen; Erwerb, Belastung, Veräusserung und Verwaltung von Grundeigentum.

 

Entry          Deleted      Remarks (original Language)

active                           Publishing authority: SHAB.

active                           Shares: Die Namenaktien sind vinkuliert.

active                           Reports: Mitteilungen erfolgen durch eingeschriebenen Brief.

 

Entry          Deleted      Branches

                  removed      , Morges/VD, Switzerland/CH

 

 

Official Administration

 

Title                                           Name

President                                    Mark Ineichen, Origin: Sursee, Switzerland, Address: 6403 Küssnacht/SZ, Switzerland, joint signature of two

Executive Director                        Rolf Ineichen, Origin: Sursee, Switzerland, Address: 6403 Küssnacht /SZ, Switzerland, born: 02.05.1978, joint signature of two, Registered since: 06.06.2008

Executive Director                        Hans Rudolf Widmer, Origin: Sumiswald, Emmen, Switzerland, Address: 6205 Eich/LU, Switzerland, born: 23.07.1949, joint signature of two

Executive Director                        Stefan Hitz, Origin: Hütten, Switzerland, Address: 3063 Ittigen/BE, Switzerland, born: 23.11.1964, without signature

Executive Director                        Dr. Prof. Thomas Rudolph, Origin: Germany, Address: 9000 St. Gallen/SG, Switzerland, born: 08.05.1962, without signature, Registered since: 20.04.2000

 

 

Management

 

Title                                           Name

Member of the management         Willi Neuhaus, Origin: Lützelflüh, Switzerland, Address: 3033 Wohlen bei Bern/BE, Switzerland, joint signature of two, Registered since: 25.03.2010

Member of the management         Markus Koch, Origin: Egolzwil, Switzerland, Address: 6252 Dagmersellen/LU, Switzerland, born: 19.10.1961, joint signature of two, Registered since: 25.03.2010

Member with signing authority       Otto Ineichen, Origin: Sursee, Schenkon, Switzerland, Address: 6210 Sursee/LU, Switzerland, born: 09.06.1941, joint signature of two

Member with signing authority       Hilde Ineichen, Origin: Sursee, Schenkon, Switzerland, Address: 6210 Sursee/LU, Switzerland, joint signature of two

 

 

Executive board

 

Title                                           Name

Chief Executive Officer                 Mark Ineichen

Chief Financial Officer                  Hans Rudolf Widmer

 

 

Financial Data OTTO'S AG

 

Consolidation:               unconsolidated

Industry:                       Trade/Industry

 

Fiscal year end:                                     31.08.2010        31.08.2009        31.08.2008        31.08.2007        31.08.2006

Number of months:                                       12                    12                    12                    12                    12

Currency:                                                 th. CHF             th. CHF            th. CHF             th. CHF            th. CHF

 

Operating revenue                                      601'000.0          573'000.0          537'000.0          488'000.0          447'000.0

Capital                                                          7'000.0              7'000.0             7'000.0              7'000.0             7'000.0

Sales per Employee                                         403.0                406.0                404.0                387.0                389.0

 

Full time units at year end                                 1'490                1'410                1'330                1'260                1'149

Employees inland                                             1'490                1'410                1'330                1'260                1'149

Employees abroad                                                 0                      0                      0                      0                      0

Offices                                                               100                   100                  100                   100                    86

Offices inland                                                     100                   100                  100                   100                    86

Offices abroad                                                        0                      0                      0                      0                      0

 

 

Ultimate Parent Company

 

Name:                          INMARO Holding AG

City/Country:                 Sursee, Switzerland/CH

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is domestic owned.

 

Class:                          100%

Name:                          OTTO'S Immobilien Holding AG

City/Country:                 Sursee, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Sisters

 

Name:                          Amrein & Weber Handels AG

City/Country:                 Sursee, Switzerland/CH

 

Name:                          Egnot AG

City/Country:                 Sursee, Switzerland/CH

 

 

Name:                          OTTO'S WARENPOSTEN AG

City/Country:                 Sursee, Switzerland/CH

 

Name:                          QUALITO AG

City/Country:                 Sursee, Switzerland/CH

 

Name:                          RADIKAL AG

City/Country:                 Sursee, Switzerland/CH

 

Name:                          Wolf Import AG

City/Country:                 Sursee, Switzerland/CH

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

01.12.2010          2010                           1                           9'206.-- Opposition filed

31.12.2009          2009                           1                           3'228.-- Opposition filed

31.12.2008          2008                           1                       362'499.-- Opposition filed

31.12.2007          2007                           0

31.12.2006          2006                           0

31.12.2005          2005                           1                         26'852.-- Opposition filed

 

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 considered to be good.

 

Payment experiences:   Financial obligations are met in an orderly manner.

 

Maximum Credit:           CHF 1'500'000.--

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.29

UK Pound

1

Rs.77.60

Euro

1

Rs.64.67

 

 

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

--

NB

                                       New Business

 

--

 

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.