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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
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Name : |
FLAME SA |
|
|
|
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Registered Office : |
Riva Paradiso 2,
Palazzo Mantegazza - 5th Floor, 6900 Lugano-Paradiso |
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Country : |
Switzerland |
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Date of Incorporation : |
20.11.2002 |
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Com. Reg. No.: |
514.3.026.737-9 / 691183 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Trade in mineral
materials, particularly fuels |
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No. of Employees : |
21 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
--- |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 |
FLAME SA
Riva Paradiso 2
Palazzo Mantegazza -
5th Floor
6900 Lugano-Paradiso
Switzerland/CH
Telephone: 091
9852070
Fax: 091
9809401
Web site: http://www.flamesa.ch
E-mail: info@flamesa.ch
VAT-No.: CHE109855126
Established: 2002
Line of Business: Trade brokers
Industry Division: Wholesale trade
Industry-code (NACE): 4612 Agents involved in
the sale of fuels, ores, metals and industrial chemicals
Import/Export: Import,
export agency
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 21
The business activities of
the company are the trade in mineral materials, particularly fuels.
Real Estate: The company owns no
property.
Company No: 514.3.026.737-9
/ 691183
Legal form: Company
limited by shares
Registration: 20.11.2002
Legal status: active
Responsible Register: Registro di commercio del Cantone Ticino
History: Date
of Statutes: 28.04.2010
Date
of Statutes: 14.12.2009
Date
of Incorporation Statutes: 19.11.2002
Entry Deleted Name
20.11.2002 FLAME
SA
Entry Deleted Legal domicile
20.11.2002 Paradiso,
Switzerland
Entry Deleted Address
26.05.2010 Riva
Paradiso 2, Palazzo Mantegazza, 6900 Paradiso/TI, Switzerland/CH
20.11.2002 26.05.2010 Via San Salvatore 13, 6900 Paradiso/TI,
Switzerland/CH
Entry Deleted Capital
14.05.2010 Share
Capital CHF 1'000'000, paidup CHF 1'000'000
20.11.2002 14.05.2010 Share Capital CHF 210'000, paidup CHF 210'000
Entry Deleted Capital Structure
14.05.2010 10'000
Bearer shares of CHF 100.--
15.12.2009 14.05.2010 2'100 Bearer shares of CHF 100.--
20.11.2002 15.12.2009 210 Bearer shares (ordinary shares) of CHF
1'000.--
Entry Deleted Activity (original Language)
20.11.2002 Il
commercio, l'importazione, l'esportazione, il trasporto, la rappresentanza di
combustibili convenzionali ed alternativi. La società può inoltre richiedere
finanziamenti, acquistare beni mobili e beni immobili industriali e aziendali
come stabilimenti permanenti d'impresa a scopo economico-commerciale
(escludendo lo scopo abitativo). La società potrà svolgere ogni attività in
relazione con lo scopo sociale.
Entry Deleted Remarks (original Language)
20.11.2002 Publishing
authority: FUSC.
Title Name
President Fabrizio
D''Adamo, Origin: Italy, Residential address: 6900 Paradiso/TI, Switzerland,
single signature
Executive Director Alessandro Ballerini, Origin: Italy,
Residential address: 6900 Paradiso/TI, Switzerland, single signature
Executive Director Luca Ferrari, Origin: Italy, Residential
address: 6900 Paradiso/TI, Switzerland, single signature
Title Name
Director Alessandro
Ballerini, Origin: Italy, Residential address: 6900 Paradiso/TI, Switzerland,
single signature
Director Fabrizio
D''Adamo, Origin: Italy, Residential address: 6900 Paradiso/TI, Switzerland,
single signature
Director Luca
Ferrari, Origin: Italy, Residential address: 6900 Paradiso/TI, Switzerland,
single signature
Title Name
Auditor PKF
CERTIFICA SA, Residential address: Lugano, Switzerland
Title Name
Chief Executive Officer Fabrizio D''Adamo (fabrizio.dadamo@flamesa.ch)
Owner: The company is
privately owned.
It is believed that the
company has no investments.
Control date Year No. Amount CHF Status
17.09.2009 2009 2 2'697'453.-- Opposition filed
17.09.2009 2008 0
17.09.2009 2007 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.55.34 |
|
UK Pound |
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
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 |
|
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.