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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MINERMET S.A. |
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Registered Office : |
Rue Pépinet 3, 1003 Lausanne |
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Country : |
Switzerland |
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Date of Incorporation : |
07.11.1956 |
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Com. Reg. No.: |
550.0.071.612-4 / 120014 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
trading in minerals,
metals and agricultural products |
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No. of Employees : |
5 |
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 : |
Small company |
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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 – 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 |
|
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
Minermet S.A.
Rue Pépinet 3
1003 Lausanne
Switzerland/CH
Telephone:\021 3214747
Fax: 021 3124406
Web site: http://www.minermet-group.com
E-mail: trading@minermet.ch
WIN Worldbox No.: CH0000239886
VAT-No.: CHE107883956
Established: 1956
Line of Business: Consumer
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4672 Wholesale of metals and metal ores
4621 Wholesale
of grain, unmanufactured tobacco, seeds and animal
feeds
Import/Export: Import,
Export
Banks: CS Credit Suisse
UBS Ltd
BNP Paribas
Coverage: Company
Figures: approximately
Employees: 5
Sales: CHF
100'000'000.--
The business activities includes trading in minerals, metals and agricultural
products.
Information on property ownership was not available.
Company No: 550.0.071.612-4
/ 120014
Legal form: Company
limited by shares
Registration: 07.11.1956
Legal status: active
Responsible Register: Registre du commerce du canton de Vaud
History: Date of Statutes:
12.05.1998
Date of Incorporation Statutes:
03.11.1956
Entry Deleted Name
active Minermet SA
Entry Deleted Legal domicile
active Lausanne,
Switzerland
Entry Deleted Address
14.12.2011 Rue Pépinet 3, 1003 Lausanne/VD, Switzerland/CH
16.04.2003 14.12.2011 Avenue Mon-Repos 14, 1000 Lausanne/VD, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 1'000'000, paidup CHF 1'000'000
Entry Deleted Capital Structure
active 1'000
Bearer shares of CHF 1'000.--
Entry Deleted Activity (original Language)
active Affrètement,
exploitation de concessions minières, commerce de produits du sol, minerais et
végétaux et transformation de ceux-ci en produits finis, importation de
matières fourragères et de fourrages secs.
Entry Deleted Remarks (original Language)
active Publishing authority: Feuille
officielle suisse du commerce.
Title Name
Executive Director Alain Scheinin,
Origin: Moudon, Switzerland, Residential address: Epalinges, Switzerland, born: 1950, single signature
External Positions
Title Name
Auditor MY Fiduciaire SA, Residential address: Prilly,
Switzerland
Executive board
Title Name
Chief Executive Officer Alain
Scheinin
Ultimate Parent Company
Name: Minermet S.p.a.
City/Country: Milano, Italy/IT
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: Minermet S.p.a.
City/Country: Milano, Italy/IT
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
10.06.2008 2008 0
10.06.2008 2007 0
10.06.2008 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.55.33 |
|
|
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.