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Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
FLAME SA |
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|
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Registered Office : |
Riva Paradiso 2, Palazzo Mantegazza - 5th
Floor, 6900 Lugano-Paradiso/TI |
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|
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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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|
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Line of Business : |
trade in mineral materials, particularly fuels |
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No. of Employees : |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 3.0% 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 safe-haven 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
1.9% in 2011 and 0.8% in 2012. 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 is considering 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/TI
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: 22
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
Director Alessandro
Ballerini, 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
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.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.