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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ITX TRADING SA |
|
|
|
|
Registered Office : |
Rue Louis d'Affry 6, 1700 Fribourg/FR,
Switzerland/CH |
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|
|
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Country : |
Switzerland |
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|
|
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Financials (as on) : |
31.01.2011 |
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|
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Date of Incorporation : |
1963 |
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|
|
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Legal Form : |
Company limited by shares |
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Line of Business : |
Wholesale of clothing and footwear |
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|
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No. of Employees : |
15 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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 |
ITX Trading SA
Operating address:
Rue Louis d'Affry 6
1700 Fribourg/FR
Switzerland/CH
Telephone: 026
3092400
Web site: http://www.inditex.com
E-mail: info@inditex.com
VAT-No.: CHE112763766
Established: 1963
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4642 Wholesale of
clothing and footwear
Import/Export: Import, Export
Banks: UBS
Ltd
CS Credit
Suisse
Operational
Figures
Coverage: Company
Figures: estimated
Employees: 15
Sales: CHF
10-20 Mio
Activity
The business activities are wholesale trade in clothing, shoes and
accessories. Within the Group the company is responsible for the trade activity
between Asia and Europe. They maintain offices in Hong Kong and Shanghai.
Real Estate
Real Estate: The
company owns no property.
Company Register
Company No: 217.3.534.972-6
/ 828369
Legal form: Company
limited by shares
Registration: 10.02.2006
Legal status: active
Responsible Register: Handelsregister des Saane-Bezirkes (FR)
History: Date
of Statutes: 15.03.2006
Date of
Incorporation Statutes: 09.02.2006
Entry Deleted Name
10.02.2006 ITX
Trading SA
Entry Deleted Legal domicile
10.02.2006 Fribourg,
Switzerland
Entry Deleted Address
05.09.2012 Rue
Louis d'Affry 6, 1700 Fribourg/FR, Switzerland/CH
10.02.2006 05.09.2012 Avenue de la Gare 4, 1700 Fribourg/FR,
Switzerland/CH
Entry Deleted Capital
21.03.2006 Share
Capital CHF 5'000'000, paidup CHF 5'000'000
10.02.2006 21.03.2006 Share Capital CHF 100'000, paidup CHF 100'000
Entry Deleted Capital Structure
21.03.2006 50'000
Registered shares of CHF 100.--
10.02.2006 21.03.2006 1'000 Registered shares of CHF 100.--
Entry Deleted Activity (original Language)
10.02.2006 Achat,
vente, transport, distribution et commerce en général de tous produits
textiles, vêtements, chaussures et accessoires.
Entry Deleted Remarks (original Language)
10.02.2006 Publishing
authority: FOSC.
10.02.2006 Shares:
Restriction de transmissibilité des actions.
10.02.2006 Reports:
Communication aux actionnaires: lettre ou FOSC.
Title Name
President Sean
Pettenhofer, Origin: Zürich, Switzerland, Residential address: 6045 Meggen/LU,
Switzerland, joint signature of two
Company
Secretary Olivier
Kuenzler, Origin: Walzenhausen, Switzerland, Residential address: 3000 Bern/BE,
Switzerland, joint signature of two
Director Félix
Poza Peña, Origin: Spain, Residential address: La Coruña, Spain, joint
signature of two, Registered since: 29.06.2009
Director José
Manuel Romay de la Colina, Origin: Spain, Residential address: La Coruña,
Spain, joint signature of two
Title Name
Auditor KPMG AG,
Residential address: Root, Switzerland
Title Name
Chief
Executive Officer Sean
Pettenhofer
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.01.2011 31.01.2010 31.01.2009 31.01.2008 31.01.2007
Number of months: 12 12 12 12 12
Currency: mil.
EUR mil. EUR mil. EUR mil. EUR mil.
EUR
Operating revenue 12'526.6 11'048.0 10'407.0 9'435.0 8'196.3
Operating result 2'290.5 1'729.0 1'609.0 1'652.0 1'356.3
Result before
minority interests 1'741.3 1'322.0 1'262.0 1'250.0 1'001.5
Total shareholders
equity 6'423.2 5'329.2 4'721.7 4'193.1 3'448.4
Total assets 9'826.1 8'335.4 7'776.6 7'105.6 5'742.2
Cost of employees 2'234.2 1'791.6 1'703.2 1'472.9 1'250.8
Depreciation 675.7 645.8 578.3 496.7 433.4
Employees at year end 109'512 92'301 89'112 79'517 69'240
Offices 5'527 4'607 4'264 3'691 3'131
Offices inland 1'900 1'896 1'747 1'628
Offices abroad 2'707 2'368 1'944 1'503
Name: Industria de Diseño
Textil SA
City/Country: Arteixo/A Coruna, Spain/ES
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: ITX Holding SA
City/Country: Fribourg/FR, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest (since 19.04.2010)
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
02.03.2012 2012 0
02.03.2012 2011 0
02.03.2012 2010 0
09.07.2008 2008 0
09.07.2008 2007 0
09.07.2008 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 good.
Payment
experiences: Payment habits are
considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.98 |
|
UK Pound |
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.