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Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
TIMBERLAND
SWITZERLAND GMBH |
|
|
|
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Registered Office : |
Freier Platz 10 8200 Schaffhausen |
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|
|
|
Country : |
Switzerland |
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|
|
|
Financials (as on) : |
31.12.2010 |
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|
|
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Date of Incorporation : |
01.07.2004 |
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|
|
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Com. Reg. No.: |
290.4.014.788-0
/ 762143 |
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|
|
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Legal Form : |
Limited
Liability Company |
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|
|
|
Line of Business : |
Acquisition,
Management and sale of investments in companies in inland and abroad for the
Group. |
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|
|
|
No. of Employees : |
40 |
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 100'000 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
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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 |
Timberland Switzerland GmbH
Operating
address:
Freier Platz 10
8200 Schaffhausen
Switzerland/CH
Telephone: 052
6441616
Fax: 052
6441609
Web site: http://www.timberland.com
VAT-No.: CHE111747262
Established: 2004
Line of Business: Financial services
Industry Division: Services
Industry-code (NACE): 6420 Activities of
holding companies
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 40
The company is
engaged in the acquisition, management and sale of
investments in
companies in inland and abroad for the Group.
Information on
property ownership was not available.
Company No: 290.4.014.788-0
/ 762143
Legal form: Limited
Liability Company
Registration: 01.07.2004
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Schaffhausen
Auditor: Deloitte AG, Zürich
History: Date
of Statutes: 01.09.2004
Date
of Incorporation Statutes: 01.07.2004
Entry Deleted Name
01.07.2004 Timberland
Switzerland GmbH
01.07.2004 Timberland
Switzerland LLC (Name translated)
Entry Deleted Legal domicile
01.07.2004 Schaffhausen,
Switzerland
Entry Deleted Address
17.04.2008 Freier
Platz 10, 8200 Schaffhausen/SH, Switzerland/CH
01.07.2004 17.04.2008 Herrenacker 15, 8200 Schaffhausen/SH,
Switzerland/CH
Entry Deleted Capital
01.07.2004 LLC
Capital CHF 20'000
Entry Deleted Capital Structure
14.10.2004 1
Participation shares of CHF 20'000.--
Entry Deleted Activity (original Language)
01.07.2004 Die
Gesellschaft bezweckt von der Schweiz aus den Erwerb, die dauernde Verwaltung
und die Veräusserung von Beteiligungen an in- und ausländische Unternehmen
aller Art der Timberland Gruppe, im besonderen auf dem Gebiet des Handels und
der Dienstleistungen.
Entry Deleted Remarks (original Language)
26.09.2008 Reports:
Mitteilungen an die Gesellschafter erfolgen gültig durch Publikation im
Schweizerischen Handelsamtsblatt. Wenn die Namen und Adressen der
Gesellschafter bekannt sind und das Gesetz nicht zwingend etwas anderes
bestimmt, können Mitteilungen auch auf schriftlichem Weg erfolgen.
01.07.2004 Publishing
authority: SHAB.
01.07.2004 Contribution
in kind/Asset takeover: Die Gesellschaft beabsichtigt, nach der Gründung (a)
von Timberland (Gibraltar) Holding Limited, Gibraltar, sämtliche Aktien der
Million Term Limited in Hong-Kong, zum Preis von maximal CHF 6'000'000; (b) von
Timberland International Inc., Delaware, USA, sämtliche Aktiven und Passiven
der Zweigniederlassung in Istanbul, Timberland International, Inc. Türkiye
Istanbul Irtibat Bürosu, Istanbul, zum Preis von maximal CHF 2'000'000; und (c)
von Timberland Europe, Inc., Delaware, USA, direkt oder indirekt sämtliche
Aktiven und Passiven der Zweigniederlassung in NL-Enschede zum Preis von
maximal CHF 14'000'000 zu übernehmen.
Title Name
General
Manager Dr. Martin
L. Müller, Origin: Zürich, Switzerland, Address: Zumikon, Switzerland, single
signature, Registered since: 01.07.2004
General
Manager Scott Alan
Roe, Origin: United States of America, Address: Sorengo, Switzerland, single
signature, Registered since: 20.12.2011
General
Manager Bryan
Hurley McNeill, Origin: United States of America, Address: Brasschaat ,
Belgium, single signature, Registered since: 20.12.2011
Chairman
of the management Karlheinz
Salzburger, Origin: Italy, Address: Montagnola , Switzerland, single signature,
Registered since: 20.12.2011
Member
with signing authority Allison
Rosalind Geraldine Gallacher, Origin: United Kingdom, Address: Waltenheim,
France, single signature, Registered since: 26.09.2008
Member
with signing authority Gareth J.
Brooks, Origin: United Kingdom, Address: Portsmouth , United States of America,
single signature, Registered since: 20.12.2011
Title Name
Chief
Executive Officer Karlheinz
Salzburger
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2010 31.12.2009
Number of months: 12 12
Currency: th.
USD th. USD
Balance Sheet
Intangible fixed
assets 73'797.0 89'885.0
Tangible fixed
assets 68'043.0 69'820.0
other fixed assets 29'491.0 29'865.0
Fixed assets 171'331.0 189'570.0
Stocks 180'068.0 158'541.0
Trade accounts
receivable 188'336.0 149'178.0
Liquid assets 272'221.0 289'839.0
other trade
accounts 22'591.0 28'123.0
Accruals 57'812.0 44'656.0
Other current
assets 352'624.0 362'618.0
Current assets 721'028.0 670'337.0
Total assets 892'359.0 859'907.0
Capital 281'016.0 267'314.0
Other shareholders
funds 330'495.0 328'303.0
Total shareholders
equity 611'511.0 595'617.0
Other non current
liabilities 34'322.0
Non current
liabilities 34'322.0 36'483.0
Trade accounts
payable 91'025.0 79'911.0
Accruals 128'051.0 125'500.0
other accounts
payable 27'450.0 22'396.0
other current
liabilities 155'501.0 147'896.0
Current
liabilities 246'526.0 227'807.0
Shareh. equity,
min. interests + liabilities 892'359.0 859'907.0
Profit and loss
account
Sales 1'429'484.0 1'285'876.0
Net sales 1'429'484.0 1'285'876.0
Other operating
revenue 3'000.0 236.0
Operating revenue 1'432'484.0 1'286'112.0
Cost of goods sold 732'970.0 682'954.0
Gross profit 699'514.0 603'158.0
Other operating
expenses 565'230.0 525'684.0
Operating result 134'284.0 77'474.0
Interest revenues 434.0 903.0
other financial
revenues 7'080.0 3'506.0
Financial income 7'514.0 4'409.0
Interest expenses 538.0 498.0
Financial expenses 538.0 498.0
Financial result 6'976.0 3'911.0
Result before
extraordinary items 141'260.0 81'385.0
Extraordinary
Result 0.0 0.0
Result before
taxes 141'260.0 81'385.0
Taxes 44'638.0 24'741.0
Result before
minority interests 96'622.0 56'644.0
Result for the
financial year 96'622.0 56'644.0
Cash flow
Depreciation 25'500.0 28'783.0
Cash flow 122'122.0 85'427.0
Cash flow from
operating activities 87'850.0 135'851.0
Investments in
tangible fixed assets 19'917.0 17'677.0
Cash flow from
investing activities -20'624.0 -20'080.0
Cash flow from
financing activities -81'037.0 -43'076.0
Others -3'807.0 -45.0
Change in
liquidity -17'618.0 72'650.0
Liquidity at beginning
of the year 289'839.0 217'189.0
Liquidity at end
ot the year 272'221.0 289'839.0
Notes
Added value 167'298.0 110'666.0
Working Capital 277'379.0 227'808.0
Sales per Employee 255.3
Gross cost land
and buildings 47'672.0 48'301.0
Gross cost other tangible
fixed assets 198'733.0 192'695.0
Gross cost total 246'405.0 240'996.0
Insurance value
total 0.0 0.0
Employees at year end 5'600
Employees abroad 5'600
Offices abroad 0 0
Name: The Timberland Company
City/Country: Stratham, United States of
America/US
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: Timberland Luxembourg
Finance S. à r.l.
City/Country: Luxembourg, Luxembourg/LU
Capital
share: CHF 20'000.--
Interest: 100.00% voting right,
100.00% capital interest (since 2004)
Name: Timberland Luxembourg
Holding Asia S.àr.l.
City/Country: Luxembourg, Luxembourg/LU
Class: 100%
Name: Timberland Europe B.V.
City/Country: Enschede, Netherlands/NL
Interest: 100.00% voting right,
100.00% capital interest (since 2004)
Class: 100%
Name: Timberland Hk Trading
Limited
City/Country: Hong Kong, Hong Kong/HK
Interest: 100.00% voting right,
100.00% capital interest (since 2004)
Class: 100%
Name: Timberland Management
Services GmbH
City/Country: Schaffhausen, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest (since 2006)
Class: 100%
Name: Timerland
International
City/Country: Irtibat Bürosu, Turkey/TR
Interest: 100.00% voting right,
100.00% capital interest (since 2004)
Control date Year No. Amount CHF Status
27.04.2011 2011 0
27.04.2011 2010 0
27.04.2011 2009 0
27.04.2011 2008 0
05.01.2009 2007 0
05.01.2009 2006 0
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.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is in order.
Payment
experiences: Financial obligations are
paid promptly.
Maximum
Credit: CHF 100'000.--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.