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Report Date : |
11.02.2013 |
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Tel No.: |
+41 43 499 4100 |
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Fax No.: |
+41 43 499 4199 |
IDENTIFICATION DETAILS
|
Name : |
ENRC MARKETING AG |
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|
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Registered Office : |
Balz Zimmermann-Strasse 7 8302 Kloten/ZH |
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Country : |
Switzerland |
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Date of Incorporation : |
01.06.1959 |
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Com. Reg. No.: |
020.3.900.477-2 / 2910 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Marketing, sale and trading of metals and metal alloys |
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No. of Employees : |
1-9 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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
ENRC Marketing AG
Operating address:
Balz
Zimmermann-Strasse 7
8302 Kloten/ZH
Switzerland/CH
Telephone: 043
4994100
Fax: 043
4994199
Web
site: http://www.enrc.com
E-mail: info@enrc.com
VAT-No.: CHE103948640
Established: 1959
Line
of Business: Consumer goods
wholesale, Advertising/Communication
Industry
Division: Wholesale trade,
Services
Industry-code (NACE): 4672 Wholesale of metals and metal ores
7311 Advertising agencies
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 1-9
The business activities includes the
marketing, sale and trading of metals and metal alloys of the ENRC Group.
Information on property ownership was not
available.
Company
No: 020.3.900.477-2 / 2910
Legal
form: Company limited
by shares
Registration: 01.06.1959
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich (since 16.12.2004)
History: Date of Incorporation
Statutes: 16.04.1959
Date of
Statutes: 13.10.2006
Date of
Statutes: 30.01.2006
Date of
Statutes: 03.10.2005
Date of
Statutes: 13.05.2005
Date of
Statutes: 10.12.2004
Entry Deleted Name
23.02.2006 ENRC
Marketing AG
23.02.2006 ENRC
Marketing SA (Name translated)
23.02.2006 ENRC
Marketing Corp. (Name translated)
23.05.2005 MRM Ferroalloys AG
removed Agroba Aktiengesellschaft für Grossbauten
und Einkaufszentren
removed Agroba AG
removed Agroba SA (Name translated)
23.05.2005 MRM Ferroalloys Inc. (Name translated)
23.05.2005 MRM Ferroalloys SA (Name translated)
23.05.2005 23.02.2006 ENR Ferroalloys AG
23.05.2005 23.02.2006 ENR Ferroalloys Inc (Name translated)
23.05.2005 23.02.2006 ENR Ferroalloys SA (Name translated)
Entry Deleted Legal domicile
01.11.2005 Kloten,
Switzerland
16.12.2004 Freienbach, Switzerland
16.12.2004 01.11.2005 Zollikon, Switzerland
Entry Deleted Address
23.02.2006 Postfach,
8058 Zürich-Flughafen/ZH, Switzerland/CH (Postal address)
01.11.2005 Balz
Zimmermann-Strasse 7, 8302 Kloten/ZH, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 500'000, paidup CHF 500'000
Entry Deleted Capital Structure
16.12.2004 500
Registered shares of CHF 1'000.--
Entry Deleted Activity (original Language)
02.11.2006 Die
Gesellschaft bezweckt die Vermarktung, den Handel und den Vertrieb von
mineralischen Rohstoffen, insbesondere von Metallen- und Metalllegierungen. Die
Gesellschaft kann Zweigniederlassungen und Tochtergesellschaften im In- und
Ausland errichten und sich an anderen Unternehmen im In- und Ausland beteiligen
oder solche erwerben. Die Gesellschaft kann Grundstücke erwerben, halten und
veräussern sowie Lizenzen, Patente und andere Immaterialgüterrechte erwerben.
Die Gesellschaft kann ihren direkten und indirekten Muttergesellschaften und
Aktionären sowie deren oder ihren direkten oder indirekten
Tochtergesellschaften Darlehen oder andere Finanzierungen gewähren und für
Verbindlichkeiten von solchen Personen Sicherheiten aller Art stellen,
insbesondere in Form von Garantien, Pfändern, Globalzessionen,
Sicherungsübereignungen, Sicherungsabtretungen und Schadloshaltungserklärungen.
Die Gesellschaft kann alle kommerziellen, finanziellen und anderen Tätigkeiten
ausüben, welche mit dem Zweck der Gesellschaft im Zusammenhang stehen oder
diesen zu fördern geeignet sind.
Title Name
President James
Cochrane, Origin: United Kingdom, Residential address: Ashtead, United Kingdom,
joint signature of two
Company
Secretary Beat
Ehrensberger, Origin: Winterthur, Switzerland, Residential address: 8142
Uitikon, Switzerland, joint signature of two
Director Marc
Jozef Clement Van Winkel, Origin: Belgium, Residential address: 8124 Maur,
Switzerland, joint signature of two
Title Name
Director James
Cochrane, Origin: United Kingdom, Residential address: Ashtead, United Kingdom,
joint signature of two
Vice-Director Leslie Rudolf
Hofman, Origin: South Africa, Residential address: Stäfa, Switzerland, joint
signature of two, Registered since: 30.03.2012
Vice-Director Mark Midgley,
Origin: United Kingdom, Residential address: Baar, Switzerland, joint signature
of two
Vice-Director Alexander Jan
Hendrik Tattersall, Origin: Netherlands, Residential address: 6402 Küssnacht/SZ,
Switzerland, joint signature of two, Registered since: 24.04.2009
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland
Title Name
Chief
Executive Officer James
Cochrane
Name: EURASIAN NATURAL
RESOURCES CORPORATION PLC
City/Country: London, United Kingdom/GB
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: EURASIAN NATURAL
RESOURCES CORPORATION PLC
City/Country: London, United Kingdom/GB
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: ENRC Marketing
(Africa) AG
City/Country: Kloten/ZH, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest
Control date Year No. Amount CHF Status
20.05.2008 2008 0
20.05.2008 2007 0
20.05.2008 2006 1 27'584.-- Closed legal actions
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.
ENRC is a leading diversified natural
resources group performing integrated mining, processing, power generation,
logistics and marketing operations. Their mission is to achieve growth as a
leading natural resources business, unlocking resources for customers and
unlocking value for the shareholders.
Revenue US$ million
US$7,705m 2011
US$6,605m 2010
Average number of employees
77,441 2011
74,098 2010
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 good.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.