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Report Date : |
29.09.2012 |
IDENTIFICATION DETAILS
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Name : |
RAVENE SA |
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Registered Office : |
Place du Molard 9, 1204 Genève |
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Country : |
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Date of Incorporation : |
29.01.1987 |
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Com. Reg. No.: |
660.0.072.987-2 / 143591 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Trading in diamonds and other precious stones for the watch and
jewelry industry |
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No. of Employees : |
15 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 |
|
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 |
Ravene SA
Place du Molard 9
1204 Genève
Switzerland/CH
Telephone: 022
3123151
Fax: 022
3123212
VAT-No.: CHE100783408
Established: 1987
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4648 Wholesale of watches and jewellery
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 15
Sales: CHF 6-8 Mio
The business includes trading in diamonds and other precious stones for
the watch and jewelry industry.
Information on property ownership was not available.
Company
No: 660.0.072.987-2 /
143591
Legal
form: Company limited
by shares
Registration: 29.01.1987
Legal
status: active
Responsible
Register: Registre du commerce du
canton de Genève
History: Date of Statutes:
12.04.1989
Date of
Statutes: 18.12.2008
Date of Statutes:
18.09.1997
Entry Deleted Name
active Ravene
SA
Entry Deleted Legal domicile
active Genève,
Switzerland
Entry Deleted Address
active place
du Molard 9, 1200 Genève/GE, Switzerland/CH
Entry Deleted Capital
07.10.1997 Share
Capital CHF 200'000, paidup CHF 200'000
07.10.1997 Share Capital CHF 200'000, paidup CHF 200'000
Entry Deleted Capital Structure
07.10.1997 200
Registered shares of CHF 1'000.--
07.10.1997 200 Bearer shares of CHF 1'000.--
Entry Deleted Activity (original Language)
active Commerce,
courtage et représentation d'articles et produits, en particulier dans les
domaines des pierres précieuses, semi-précieuses, d'articles de bijouterie,
joaillerie et horlogerie.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Supervisory
authorithy: 1 ou plusieurs membres.
13.01.2009 Reports:
Communication aux actionnaires: lettre, téléfax ou e-mail.
07.10.1997 13.01.2009 Reports: Communication aux actionnaires:
lettre recommandée.
Title Name
President Raphaël
Cohen, Origin: France, Residential address: 1200 Genève/GE, Switzerland, single
signature
Company
Secretary Stéphane
Iso, Origin: Genève, Switzerland, Residential address: 1227 Carouge/GE,
Switzerland, joint signature of two
Executive
Director Monique
Cohen, Origin: Lausanne, Switzerland, Residential address: 1223 Cologny/GE,
Switzerland, joint signature of two, Registered since: 20.12.1995
Title Name
Auditor Experco
Partenaires SA, Residential address: Genève, Switzerland
Owner: The
company is privately owned.
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
11.12.2008 2008 0
31.12.2007 2007 0
31.12.2006 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: There are no objections
regarding the payment of financial obligations.
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This
could be the biggest credibility crisis the Indian diamond industry has ever
faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen
diamond firms in Surat. Until about two months ago, they had not repaid
these dues. Bankers believe many diamantaires borrowed money during the
economic downturn two years ago and diverted funds to businesses like real
estate and capital markets. Many of themselves made money from these businesses
but their diamond companies have gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.85.72 |
|
Euro |
1 |
Rs.68.15 |
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.