|
Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BUNGE SA |
|
|
|
|
Registered Office : |
Route de Florissant 13 Case postale 518 1211 Genève 12/GE |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.02.2001 |
|
|
|
|
Com. Reg. No.: |
020.3.915.530-2 / 104093 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Integrated, global agribusiness and food company operating in the farm-to-consumer food chain with worldwiede distribution capabilities. |
|
|
|
|
No. of Employees : |
80-149 |
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 – 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
Bunge SA
Operating
address:
Route de
Florissant 13
Case postale 518
1211 Genève 12/GE
Switzerland/CH
Telephone: 022
5929100
Fax: 022
5929102
Web
site: http://www.bunge.com
E-mail: info@bunge.com
VAT-No.: CHE102479861
Established: 1976
Line
of Business: Trade brokers
Industry
Division: Wholesale trade
Industry-code (NACE): 4619 Agents involved in the sale of a variety
of goods
Import/Export: Import, Export
Banks: UBS Ltd
CS Credit
Suisse
Coverage: Company
Figures: estimated
Employees: 80-149
Integrated, global agribusiness and food
company operating in the farm-to-consumer food chain with worldwiede
distribution capabilities.
Information on property ownership was not
available.
Company
No: 020.3.915.530-2 /
104093
Legal
form: Company limited
by shares
Registration: 26.02.2001
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Genève
History: Date of Incorporation
Statutes: 09.08.1977
Date of
Statutes: 17.07.2009
Date of
Statutes: 12.02.2003
Date of
Statutes: 09.07.2002
Date of
Statutes: 11.09.2001
Date of
Statutes: 21.02.2001
Entry Deleted Name
14.09.2001 Bunge
SA
26.02.2001 Lagran AG
26.02.2001 14.09.2001 Bunge Agribusiness SA
Entry Deleted Legal domicile
26.02.2001 Genève,
Switzerland
26.02.2001 Zürich, Switzerland
Entry Deleted Address
11.07.2002 route
de Florissant 13, 1206 Genève/GE, Switzerland/CH
Entry Deleted Capital
11.07.2002 Share
Capital CHF 6,150,000, paidup CHF 6,150,000
Entry Deleted Capital Structure
11.07.2002 6,150
Registered shares of CHF 1,000,--
Entry Deleted Activity (original Language)
14.02.2003 Activités
commerciales et agro-industrielles, notamment achat, importation, exportation,
transformation, stockage, transfert, vente et distribution de matières
premières agricoles et de leurs produits dérivés, manufacturés ou non;
activités de services au profit de sociétés de son groupe ou de tiers, ainsi
qu'investissements, achat et/ou vente, construction, prise ou dation en
location et gestion d'actifs agro-industriels.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Merger:
lors de l'augmentation du capital-actions du 24-10-1997, la société a repris au
sens de l'article 748 CO, l'actif et le passif de la société "Warinco
AG", à Zurich, selon bilan de fusion du 30-06-1997, présentant un actif de
CHF 5'196'852 et un passif envers les tiers de CHF 210'843; en contrepartie il
a été remis 2'000 actions de CHF 1'000, au porteur, aux actionnaires de la
société absorbée.
23.07.2009 Reports:
Communication aux actionnaires: lettre recommandée s'ils sont connus, à défaut
Feuille Officielle Suisse du Commerce
01.02.2006 Merger:
Reprise des actifs et passifs de la société BU.AR HOLDING SA, à Genève
(CH-660-1874002-2), selon contrat de fusion du 20.12.2005 et bilan au
30.09.2005, présentant des actifs de CHF 65'665, des passifs envers les tiers
de CHF 24'280, soit un actif net de CHF 41'385. Conformément à l'attestation
d'un réviseur particulièrement qualifié, la société reprenante dispose de fonds
propres librement disponibles équivalant au moins au montant du découvert. La
totalité du capital-actions des deux sociétés étant détenue par le même
actionnaire, la fusion ne donne pas lieu à une augmentation du capital, ni à
une attribution d'actions.
01.02.2006 Merger:
Reprise des actifs et passifs de la société Cereol International (Suisse) SA, à
Genève (CH-660-0162994-3), selon contrat de fusion du 20.12.2005 et bilan au
30.09.2005, présentant des actifs de CHF 10'058'321, des passifs envers les
tiers de CHF 1'625'329, soit un actif net de CHF 8'432'992. La totalité du
capital-actions des deux sociétés étant détenue par le même actionnaire, la
fusion ne donne pas lieu à une augmentation du capital, ni à une attribution
d'actions.
01.02.2006 Merger:
Reprise des actifs et passifs de la société Oleina Holding SA, à Genève
(CH-660-0308990-2), selon contrat de fusion du 20.12.2005 et bilan au
30.09.2005, présentant des actifs de CHF 13'957'592, des passifs envers les
tiers de CHF 52'929'920, soit un passif net de CHF 38'972'328. Conformément à
l'attestation d'un réviseur particulièrement qualifié, une créance d'un montant
au moins équivalant au découvert et au surendettement de la société reprise a
été postposé. La totalité du capital-actions des deux sociétés étant détenue
par le même actionnaire, la fusion ne donne pas lieu à une augmentation du
capital, ni à une attribution d'actions.
14.09.2001 Merger:
Reprise de l'actif et du passif, au sens de l'article 748 CO, de la société
Bunge Aktiengesellschaft, à Zurich, selon contrat du 11-09-2001 et bilan au
31-07-2001, présentant un actif de 36'645'090 et un passif envers les tiers de
CHF 1'023'391, soit un actif net de CHF 35'621'699, pour lequel sont remises
aux actionnaires de la société reprise 4'050 actions de CHF 1'000, au
porteur.
26.07.2001 Merger:
Reprise de l'actif et du passif, au sens de l'article 748 CO, de la société
"Celtic Handels AG", à Zurich, selon contrat du 23.07.2001 et bilan
au 30.06.2001, comportant un actif de CHF 2'619'534,39 et un passif envers les
tiers de CHF 0, soit un actif net de CHF 2'619'534,39. Le capital-actions de la
société absorbée et celui de la société absorbante étant détenus par le même
actionnaire, la fusion a lieu sans augmentation du capital-actions.
Title Name
President Tommy
Jensen, Origin: Denmark, Residential address: Scezecin, Poland, joint signature
of two, Registered since: 21.05.2012
Vice-President Maurizio Terazzi,
Origin: Italy, Residential address: 1200 Genève/GE, Switzerland, joint
signature of two
Director Jordi
Costa Vilarrasa, Origin: Spain, Residential address: Genève, Switzerland, joint
signature of two, Registered since: 21.05.2012
Director Pascal
Pionchon , Origin: France, Residential address: Cuvat, France, joint signature
of two, Registered since: 14.04.2011
Director Vesselina
Shaleva , Origin: Bulgaria, Residential address: 1200 Genève/GE, Switzerland,
joint signature of two, Registered since: 09.08.2010
Director Brain
Thomsen, Origin: Denmark, Residential address: 1255 Corsier/GE, Switzerland,
joint signature of two
Title Name
Director William
John Gibson, Origin: United Kingdom, Residential address: 1200 Genève/GE,
Switzerland, joint signature of two
Director William
Lee Mc Clain, Origin: United States of America, Residential address: 1200
Genève/GE, Switzerland, joint signature of two
Director Henri
Rieux, Origin: France, Residential address: 1200 Genève/GE, Switzerland, joint
signature of two
Member
with signing authority Alberto
Alvarez, Origin: Lancy, Switzerland, Residential address: Bernex, Switzerland,
joint signature of two
Member
with signing authority Marc de
Voogd, Origin: Netherlands, Residential address: 1200 Genève/GE, Switzerland,
joint signature of two
Member
with signing authority Vincent
Minna, Origin: Genève, Switzerland, Residential address: 1200 Genève/GE,
Switzerland, joint signature of two
Member
with procuration Daniel
Amarilla, Origin: Italy, Residential address: 1200 Genève/GE, Switzerland,
joint power of attorney of two, Restricted signatory powers
Member
with procuration Paul
Bateson, Origin: United Kingdom, Residential address: Chêne-Bougeries,
Switzerland, joint power of attorney of two, Restricted signatory powers
Member
with procuration Alain
Boudraa, Origin: France, Residential address: 1200 Genève/GE, Switzerland,
joint power of attorney of two, Restricted signatory powers
Member
with procuration Sandrine
Charvier, Origin: France, Residential address: Seynod, France, joint power of
attorney of two, Restricted signatory powers, Registered since: 04.09.2009
Member
with procuration Dominique
Currat, Origin: Fiaugères, Switzerland, Residential address: Thônex,
Switzerland, joint power of attorney of two, Restricted signatory powers
Member
with procuration Christos
Dimopoulos, Origin: Genève, Switzerland, Residential address: 1200 Genève/GE,
Switzerland, joint power of attorney of two, Restricted signatory powers
Member
with procuration Cândido Dos
Santos, Origin: Portugal, Residential address: 1200 Genève/GE, Switzerland,
joint power of attorney of two, Registered since: 08.06.2009
Member
with procuration Paul
Fletcher , Origin: United Kingdom, Residential address: 1286 Soral/GE,
Switzerland, joint power of attorney of two, Restricted signatory powers,
Registered since: 24.02.2010
Member
with procuration Jean-Eudes
Gautrot, Origin: Sumiswald, Switzerland, Residential address: Veyrier,
Switzerland, joint power of attorney of two, Restricted signatory powers
Member
with procuration Françoise
Gris , Origin: Genève, Switzerland, Residential address: Vernier, Switzerland,
joint power of attorney of two, with a Director, Registered since: 15.06.2012
Member
with procuration Andrea
Hernandez, Origin: Founex, Switzerland, Residential address: Founex,
Switzerland, joint power of attorney of two, Restricted signatory powers,
Registered since: 08.12.2011
Member
with procuration Andrea Hernandez
, Origin: Founex, Switzerland, Residential address: Founex, Switzerland, joint
power of attorney of two, Registered since: 08.12.2011
Member
with procuration Louis
Leclezio , Origin: Genève, Switzerland, Residential address: Thônex,
Switzerland, joint power of attorney of two, Registered since: 15.06.2012
Member
with procuration Serge Levy,
Origin: France, Residential address: Saint-George, Switzerland, joint power of
attorney of two, Restricted signatory powers
Member
with procuration Giovanni Ravano,
Origin: Italy, Residential address: Pully, Switzerland, joint power of attorney
of two, Restricted signatory powers
Member
with procuration David Rigby,
Origin: Zürich, Switzerland, Residential address: Prangins, Switzerland, joint
power of attorney of two, Restricted signatory powers
Member
with procuration Sabeti
Alexandre Shahram , Origin: Genève, Switzerland, Residential address:
Collonge-Bellerive, Switzerland, joint power of attorney of two, Registered
since: 08.12.2011
Member
with procuration Alexandre
Shahram Sabeti, Origin: Genève, Switzerland, Residential address:
Collonge-Bellerive, Switzerland, joint power of attorney of two, Restricted
signatory powers, Registered since: 08.12.2011
Member
with procuration Peter
Spierings, Origin: Netherlands, Residential address: Collogne-Bellerive,
Switzerland, joint power of attorney of two, Restricted signatory powers
Member
with procuration Louis Touzin
, Origin: Canada, Residential address: 1200 Genève/GE, Switzerland, joint power
of attorney of two, Restricted signatory powers, Registered since: 13.11.2009
Member
with procuration Christian
Voland , Origin: France, Residential address: Bramois, Switzerland, joint power
of attorney of two, Registered since: 24.04.2013
Member
with procuration Vladimir Zinkovski,
Origin: Netherlands, Residential address: 1200 Genève/GE, Switzerland, joint
power of attorney of two, Restricted signatory powers
Title Name
Auditor Deloitte
SA, Residential address: Meyrin, Switzerland
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: mil.
USD mil. USD mil. USD mil. USD mil.
USD
Balance Sheet
Intangible fixed assets 646,0 1,113,0
Land and buildings 1,155,0 1,198,0
Other tangible
fixed assets 4,733,0 4,319,0
Tangible fixed
assets 5,888,0 5,517,0
Financial fixed
assets 273,0 600,0
other fixed assets 3,209,0 2,917,0
Fixed assets 10,016,0 10,147,0
Stocks 6,590,0 5,733,0
Trade accounts
receivable 2,471,0 2,459,0
Liquid assets 569,0 835,0
other trade
accounts 7,021,0 5,472,0
Accruals 613,0 575,0
Other current
assets 8,203,0 6,882,0
Current assets 17,264,0 15,074,0
Total assets 27,280,0 25,221,0 26,001,0 21,286,0 20,302,0
Capital 5,600,0 5,520,0
Other shareholders
funds 5,262,0 6,187,0
Total shareholders
equity 10,862,0 11,707,0 12,554,0 10,365,0 8,128,0
Minority interests 431,0 368,0
long term debt
(financial debts) 3,532,0 3,348,0
Other non current
liabilities 894,0 905,0
Non current
liabilities 4,426,0 4,253,0
short term debt
(financial debts) 2,317,0 733,0
Trade accounts
payable 3,319,0 3,173,0
Accruals 1,069,0 1,179,0
other accounts
payable 4,856,0 3,808,0
other current
liabilities 5,925,0 4,987,0
Current liabilities 11,561,0 8,893,0
Shareh. equity,
min. interests + liabilities 27,280,0 25,221,0
Profit and loss
account
Sales 63,494,0 58,743,0
Net sales 63,494,0 58,743,0
Other operating
revenue 7,0
Operating revenue 63,494,0 58,750,0 45,707,0 41,926,0 52,574,0
Cost of goods sold 60,916,0 56,015,0
Gross profit 2,578,0 2,735,0
Other operating
expenses 2,342,0 1,569,0
Operating result 236,0 1,166,0 3,050,0 145,0 1,363,0
Interest revenues 78,0 102,0
other financial
revenues 230,0 37,0
Financial income 308,0 139,0
Interest expenses 317,0 302,0
other financial
expenses 792,0 1,243,0
Financial expenses 1,109,0 1,545,0
Financial result -801,0 -1,406,0
Result before
extraordinary items -565,0 -240,0
Extraordinary
Result 0,0 0,0
Result before
taxes -565,0 -240,0
Taxes 191,0 44,0
Result before
minority interests -756,0 -284,0 2,354,0 361,0 1,064,0
minority interests -20,0 -33,0
Result for the
financial year -736,0 -251,0
Cash flow
Depreciation 570,0 526,0 443,0 443,0 439,0
Cash flow -186,0 242,0
Cash flow from operating
activities -457,0 2,614,0
Investments in
tangible fixed assets 1,095,0 1,125,0 1,072,0 918,0 896,0
Cash flow from
investing activities -967,0 -1,220,0
Cash flow from
financing activities 1,206,0 -1,060,0
Others -48,0 -77,0
Change in
liquidity -266,0 257,0
Liquidity at
beginning of the year 835,0 578,0
Liquidity at end
ot the year 569,0 835,0
Research and
Development 19,0 21,0
Added value 322,0 588,0
Working Capital 5,742,0 5,019,0
Sales per Employee 1,8
Gross cost land
and buildings 2,239,0 2,262,0
Gross cost other
tangible fixed assets 5,889,0 5,220,0
Gross cost total 8,128,0 7,482,0
Employees at year end 36,000 33,021 25,945 24,917
Name: Bunge Limited
City/Country: Hamilton, Bermuda/BM
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: Koninklijke Bunge BV
City/Country: Rotterdam, Netherlands/NL
Interest: 100,00% voting right,
100,00% capital interest
Name: ECOINVEST CARBON SA
City/Country: Genève/GE, Switzerland/CH
Class: 100%
Name: Oleina SA
City/Country: Genève/GE, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
24.05.2013 2013 0
24.05.2013 2012 0
24.05.2013 2011 0
24.05.2013 2010 0
24.05.2013 2009 0
24.05.2013 2008 0
04.01.2011 2007 0
09.12.2009 2006 0
09.12.2009 2005 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: Payments are made with
arranged conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.