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Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
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Name : |
CORTEFIEL COMMERCIAL SA |
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Registered Office : |
Rue de Romont 10, 1700 Fribourg/FR |
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Country : |
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Date of Incorporation : |
17.02.1998 |
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Com. Reg. No.: |
217.0.138.651-3 / 435635 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
trade for fashions and the management of
shareholdings in other companies, especially for the Cortefiel group. |
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No. of Employees : |
01-09 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Switzerland - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's, to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 2.7% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safehaven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 2.1% in 2011. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and in 2011 it reached deals with Germany and the UK to resolve outstanding issues, particularly the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.
|
Source : CIA |
Cortefiel Commercial SA
Rue de Romont 10
1700 Fribourg/FR
Switzerland/CH
Telephone: 026
3410980
Fax: 026
3471631
Web site: http://www.grupocortefiel.com
E-mail: info@grupocortefiel.com
VAT-No.: CHE104231645
Established: 1998
Line of Business: Consumer goods wholesale, Financial services
Industry Division: Wholesale trade, Services
Industry-code (NACE): 4642 Wholesale of
clothing and footwear
6420 Activities of holding companies
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 1-9
The business activities are
the trade for fashions and the management of shareholdings in other companies,
especially for the Cortefiel group.
Information on property
ownership was not available.
Company No: 217.0.138.651-3
/ 435635
Legal form: Company
limited by shares
Registration: 17.02.1998
Legal status: active
Responsible Register: Handelsregister des Saane-Bezirkes (FR)
History: Date
of Incorporation Statutes: 28.12.1998
Date
of Statutes: 13.12.2005
Date
of Statutes: 23.02.1999
Entry Deleted Name
active Cortefiel
Commercial SA
active Cortefiel
Commercial AG (Name translated)
active Cortefiel
Commercial Ltd (Name translated)
Entry Deleted Legal domicile
active Fribourg,
Switzerland
Entry Deleted Address
18.07.2000 Rue
de Romont 10, 1700 Fribourg/FR, Switzerland/CH
14.10.1999 c/o Etude de Mes Thiebaud & von der Weid,
Rue de Romont 35, 1700 Fribourg/FR, Switzerland/CH
14.10.1999 18.07.2000 c/o Lenz & Staehelin, Rue de Romont 35,
1700 Fribourg/FR, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 5'000'000, paidup CHF 5'000'000
Entry Deleted Capital Structure
active 50'000
Registered shares of CHF 100.--
Entry Deleted Activity (original Language)
16.12.2005 Achat,
vente, transport et commerce en général de vêtements et textiles en tous genres
et des accessoires y relatifs; peut fournir des conseils et des services en
relation avec son but, notamment dans les domaines du management, du
franchising, de la révision, du contrôle, des études de marché et de
développement de projets, en particulier en faveur de sociétés du groupe
Cortefiel; peut constituer des succursales et des filiales en Suisse et à
l'étranger et participer à d'autres entreprises en Suisse et à l'étranger; peut
exercer toutes activités commerciales, financières et autres en rapport avec
son but; peut également, dans l'intérêt du groupe auquel elle appartient,
emprunter auprès de tiers et accorder des prêts ou autres financements directs
ou indirects à des sociétés du groupe auquel elle appartient, y compris des actionnaires
directs ou indirects de la société ou d'autres sociétés dont ceux-ci détiennent
des actions, ainsi que fournir toutes sûretés pour garantir les obligations
desdites sociétés, notamment par l'émission de garanties, caution, constitution
de gages, transfert de propriété aux fins de garantie, cession de créance aux
fins de garantie ou émission de toutes autres garanties, de quelques natures
que ce soit, avec ou sans rémunération.
16.12.2005 Achat, vente, transport et commerce en général
de vêtements et textiles en tous genres et des accessoires y relatifs; fournir
des conseils et des services en relation avec son but, notamment dans les
domaines du management, du franchising, de la révision, du contrôle, des études
de marché et de développement de projets, en particulier en faveur de sociétés
du groupe Cortefiel.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Shares:
Restriction de transmissibilité des actions.
active Reports:
Communication aux actionnaires: lettre.
Title Name
President Juan
Carlos Escribano Garcia, Origin: Spain, Residential address: Madrid, Spain,
joint signature of two, Registered since: 13.08.2009
Company Secretary Luke Henri Gillon, Origin: Châtonnaye, Le Châtelard,
Switzerland, Residential address: 1752 Villars-sur-Glâne/FR, Switzerland, joint
signature of two, Registered since: 30.08.2007
Director Bruno
Mock, Origin: Zürich, Herisau, Switzerland, Residential address: 8700
Küsnacht/ZH, Switzerland, joint signature of two, Registered since: 09.06.2000
Title Name
Auditor Deloitte
AG, Residential address: Basel, Switzerland
Title Name
Chief Executive
Officer Bruno Mock
Name: Cortefiel
SA
City/Country: Madrid,
Spain/ES
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: Cortefiel
SA
City/Country: Madrid,
Spain/ES
Interest: 100.00%
voting right, 100.00% capital interest
It is believed that the
company has no investments.
Control date Year No. Amount CHF Status
11.11.2008 2008 0
11.11.2008 2007 0
11.11.2008 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 considered to be in order.
Payment experiences: Financial obligations are met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.16 |
|
UK Pound |
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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26-40 |
B |
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 |
|
<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.