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Report Date : |
28.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HARRY WINSTON SA |
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Registered Office : |
Chemin du Tourbillon 8, 1228 Plan-les-Ouates |
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Country : |
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Date of Incorporation : |
20.12.1957 |
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Com. Reg. No.: |
660.0.175.957-2 / 208930 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Manufacture of watches |
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No. of Employees : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
Harry Winston SA
Operating address:
Chemin du Tourbillon 8
1228 Plan-les-Ouates
Switzerland/CH
Telephone: 022
7162900
Fax: 022
7162901
Web site: http://www.harrywinston.com
E-mail: info@hwrt.ch
WIN Worldbox No.: CH0000434075
VAT-No.: CHE103161976
Established: 1957
Line of Business: Watch technology, Consumer goods
wholesale
Industry Division: Manufacturing, Wholesale trade
Industry-code (NACE): 2652 Manufacture of watches and clocks
4648 Wholesale
of watches and jewellery
Import/Export: Export
Export sales: 80.0%
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 140
The business activities includes the manufacture of watches,
as well as the sale of watches and jewelery of Harry Winston.
Information on property ownership was not available.
Company No: 660.0.175.957-2 / 208930
Legal form: Company limited by shares
Registration: 20.12.1957
Legal status: active
Responsible Register: Registre du commerce du canton de Genève
History: Date of Statutes:
12.02.1963
Date of Statutes:
18.01.2008
Date of Statutes:
20.09.2006
Date of Statutes:
17.06.2004
Date of Statutes:
11.01.2001
Date of Statutes:
12.08.1998
Date of Statutes:
17.07.1997
Entry Deleted Name
25.09.2006 Harry
Winston SA
25.09.2006 Société Anonyme Harry
Winston
Entry Deleted Legal domicile
28.01.2008 Plan-les-Ouates,
Switzerland
28.01.2008 Genève, Switzerland
Entry Deleted Address
28.01.2008 Chemin
du Tourbillon 8, 1228 Plan-les-Ouates/GE, Switzerland/CH
Entry Deleted Capital
01.02.2001 Share
Capital CHF 400'000, paidup CHF 400'000
Entry Deleted Capital Structure
01.02.2001 400
Registered shares of CHF 1'000.--
Entry Deleted Activity (original Language)
25.09.2006 Achat, vente, fabrication et
distribution de montres et bijoux.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Board of directors: 1
ou plusieurs membres.
25.09.2006 Reports: Communication aux
actionnaires: Feuille Officielle Suisse du Commerce ou lettre simple ou
recommandée s'ils sont tous connus.
29.06.2006 Merger: Reprise des actifs
et passifs de Harry Winston Ultimate Timepiece SA, à Genève (CH-660-0097989-8),
selon contrat de fusion du 19.06.2006 et bilan au 31.01.2006, présentant des
actifs de CHF 33'386'855, des passifs envers les tiers de CHF 16'779'236, soit
un actif net de CHF 16'607'619. La société reprenante détenant l'ensemble des
actions de la société transférante, la fusion ne donne pas lieu à une
augmentation du capital, ni à une attribution d'actions.
Title Name
President James R. W.
Pounds, Origin: United Kingdom, Residential address: Horsham, United Kingdom,
joint signature of two, Registered since: 25.01.2007
Company Secretary Martin Anderson, Origin:
Laconnex, Switzerland, Residential address: 1241 Puplinge/GE, Switzerland,
joint signature of two, Registered since: 27.03.2008
Executive Director Daniel Peregrina,
Origin: Céligny, Switzerland, Residential address: Cheseaux-Noréaz.,
Switzerland, joint signature of two, Registered since: 27.03.2008
Title Name
General Director Steven Haefeli,
Origin: Mümliswil-Ramiswil, Switzerland, Residential address: Bernex,
Switzerland, joint signature of two, Registered since: 21.09.2012
Director Sylvie
Ganivet, Origin: Les Bayards, Switzerland, Residential address: 1226 Thônex/GE,
Switzerland, joint signature of two, Registered since: 27.03.2008
Director Anthony Ledru,
Origin: France, Residential address: New York, United States of America, joint
signature of two, Registered since: 08.03.2012
Director John
Lowell Patterson Jr., Origin: United States of America, Residential address:
Westport/CT, United States of America, joint signature of two, Registered
since: 08.03.2012
Director Robert
Scott, Origin: United States of America, Residential address: Searington/NY,
United States of America, joint signature of two, Registered since: 07.04.2008
Director Bertrand
Weisrock, Origin: France, Residential address: Reignier-Esery, France, joint
signature of two, Registered since: 15.09.2008
Title Name
Auditor KPMG SA,
Residential address: Genève, Switzerland, Registered since: 21.06.2004
Name: Harry Winston Inc
City/Country: New York, United States of
America/US
No. of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: Harry Winston Inc
City/Country: New York, United States of
America/US
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
04.04.2012 2012 0
04.04.2012 2011 0
04.04.2012 2010 0
04.04.2012 2009 0
04.04.2012 2008 0
04.04.2012 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.25 |
|
|
1 |
Rs.86.23 |
|
Euro |
1 |
Rs.68.63 |
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 |
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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.