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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
J.P. MORGAN COMMODITIES SARL |
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Registered Office : |
Rue du Cendrier 15-17 Case postale 2078 1211 Genčve 1/GE |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.06.2000 |
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Com. Reg. No.: |
660.1.233.000-7 / 524570 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of solid, liquid and gaseous fuels and related products |
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No. of Employees : |
35 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
J.P. Morgan
Commodities Sarl
Operating
address:
Rue du Cendrier
15-17
Case postale 2078
1211 Genčve 1/GE
Switzerland/CH
Telephone: 022
7167000
Fax: 022
7167777
Web
site: http://www.jpmorgan.com
VAT-No.: CHE100815468
Established: 2000
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4671 Wholesale of solid, liquid and gaseous
fuels and related products
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 35
The business activities includes trading
with fuels and petroleum products.
Information on property ownership was not
available.
Company
No: 660.1.233.000-7 /
524570
Legal
form: Limited Liability
Company
Registration: 07.06.2000
Legal
status: active
Responsible
Register: Registre du commerce du
canton de Genčve
History: Date of Statutes:
29.06.2010
Date of
Statutes: 15.10.2009
Date of
Statutes: 30.03.2004
Date of Statutes:
06.07.2001
Date of
Incorporation Statutes: 02.06.2000
Entry Deleted Name
15.07.2010 J.P.
Morgan Commodities Sārl
30.10.2009 15.07.2010 RBS Sempra Commodities Sārl
07.06.2000 30.10.2009 Sempra Oil Trading Sārl
Entry Deleted Legal domicile
07.06.2000 Genčve,
Switzerland
Entry Deleted Address
07.08.2000 rue
du Cendrier 15-17, 1200 Genčve, Switzerland/CH
Entry Deleted Capital
07.06.2000 LLC
Capital CHF 20'000, paidup CHF 20'000
Entry Deleted Activity (original Language)
05.05.2004 Commerce
et fourniture de pétrole brut, de produits dérivés du pétrole ainsi que
stockage, transport et distribution de pétrole brut ou de tels produits;
opérations portant sur des instruments financiers ou contrats liés au pétrole
brut ou ā de tels produits, services et activités y relatifs.
Entry Deleted Remarks (original Language)
07.06.2000 Publishing
authority: FOSC.
Entry Deleted Branches
11.02.2010 Baarerstrasse
53, 6300 Zug, ZG, Switzerland/CH
Title Name
President Coralia Arigoni
Swoboda, Origin: Collina d''Oro, Switzerland, Residential address: 8702
Zollikon/ZH, Switzerland, single signature, Registered since: 15.07.2010
Title Name
General
Manager Coralia Arigoni
Swoboda, Origin: Collina d''Oro, Switzerland, Residential address: 8702
Zollikon/ZH, Switzerland, single signature, Registered since: 15.07.2010
General
Manager Denis
Mejean , Origin: France, Residential address: Challonges, France, single
signature, Registered since: 15.12.2009
Title Name
Auditor Deloitte
SA, Residential address: Meyrin, Switzerland, Registered since: 07.06.2000
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 1'547.0 1'484.0 540.0 524.0 539.0
Tangible fixed
assets 25'191.0 23'572.0 19'876.0 18'281.0 16'865.0
Financial fixed
assets 1'516.0 1'693.0 2'951.0 2'172.0 2'082.0
other fixed assets 4'550.0 4'275.0 3'563.0 5'240.0 4'438.0
Fixed assets 32'804.0 31'024.0 26'930.0 26'217.0 23'924.0
Stocks 408.0 346.0 258.0 197.0 320.0
Trade accounts
receivable 1'299.0 1'345.0 891.0 971.0 903.0
Liquid assets 475.0 252.0 912.0 145.0 358.0
Securities 176.0
other trade
accounts 1'513.0 389.0 1'292.0 982.0 719.0
Other current
assets 1'988.0 641.0 2'204.0 1'127.0 1'253.0
Current assets 3'695.0 2'332.0 3'353.0 2'295.0 2'476.0
Total assets 36'499.0 33'356.0 30'283.0 28'512.0 26'400.0
Capital 2'217.0 2'104.0 2'036.0 2'418.0 2'265.0
Other shareholders
funds 8'164.0 8'137.0 7'202.0 6'833.0 6'044.0
Total shareholders
equity 10'381.0 10'241.0 9'238.0 9'251.0 8'309.0
Minority interests 381.0
long term debt
(financial debts) 11'621.0 10'078.0 8'980.0 7'460.0 6'544.0
Other non current
liabilities 9'858.0 8'874.0 8'279.0 7'913.0 7'935.0
Non current
liabilities 21'479.0 18'952.0 17'259.0 15'373.0 14'479.0
short term debt
(financial debts) 1'271.0 785.0 158.0 1'191.0 913.0
Trade accounts
payable 1'110.0 983.0 755.0 522.0 606.0
Accruals 337.0 323.0 311.0 264.0 280.0
other accounts
payable 1'540.0 2'072.0 2'562.0 1'911.0 1'813.0
other current
liabilities 1'877.0 2'395.0 2'873.0 2'175.0 2'093.0
Current
liabilities 4'258.0 4'163.0 3'786.0 3'888.0 3'612.0
Shareh. equity,
min. interests + liabilities 36'499.0 33'356.0 30'283.0 28'512.0 26'400.0
Profit and loss
account
Sales 9'647.0 10'036.0 9'003.0 8'106.0 10'758.0
Net sales 9'647.0 10'036.0 9'003.0 8'106.0 10'758.0
Other operating
revenue 120.0 163.0 71.0 152.0 114.0
Operating revenue 9'767.0 10'199.0 9'074.0 8'258.0 10'872.0
Cost of goods sold 3'690.0 0.0 3'783.0 3'258.0 5'997.0
Gross profit 6'077.0 10'199.0 5'291.0 5'000.0 4'875.0
Other operating
expenses 4'398.0 8'316.0 3'862.0 3'677.0 3'644.0
Operating result 1'679.0 1'883.0 1'429.0 1'323.0 1'231.0
Interest revenues 25.0 26.0 17.0 21.0 45.0
other financial
revenues 204.0 277.0 163.0 567.0 483.0
Financial income 229.0 303.0 180.0 588.0 528.0
Interest expenses 493.0 465.0 460.0 367.0 253.0
other financial
expenses 325.0 0.0 314.0 0.0 0.0
Financial expenses 818.0 465.0 774.0 367.0 253.0
Financial result -589.0 -162.0 -594.0 221.0 275.0
Result before extraordinary
items 1'090.0 1'721.0 835.0 1'544.0 1'506.0
Extraordinary
expenses 10.0
Extraordinary
Result 0.0 0.0 -10.0 0.0 0.0
Result before
taxes 1'090.0 1'721.0 825.0 1'544.0 1'506.0
Taxes 59.0 314.0 102.0 422.0 438.0
Result before
minority interests 1'031.0 1'407.0 723.0 1'122.0 1'068.0
minority interests 0.0 50.0 -16.0 0.0 0.0
Result for the
financial year 1'031.0 1'357.0 739.0 1'122.0 1'068.0
Cash flow
Depreciation 1'090.0 978.0 867.0 775.0 687.0
Cash flow 2'121.0 2'385.0 1'590.0 1'897.0 1'755.0
Cash flow from
operating activities 2'018.0 1'867.0 2'154.0 1'875.0 1'191.0
Investments in
tangible fixed assets 2'956.0 2'844.0 2'062.0 1'912.0 2'061.0
Cash flow from
investing activities -3'158.0 -3'070.0 -1'283.0 -2'672.0 -2'386.0
Cash flow from
financing activities 1'355.0 534.0 -69.0 576.0 858.0
Others 8.0 9.0
Change in
liquidity 223.0 -660.0 802.0 -221.0 -337.0
Liquidity at
beginning of the year 252.0 912.0 110.0 331.0 668.0
Liquidity at end
ot the year 475.0 252.0 912.0 110.0 331.0
Notes
Added value 2'673.0 3'164.0 2'152.0 2'686.0 2'446.0
Working Capital 597.0 708.0 394.0 646.0 617.0
Sales per Employee 0.6 30.3 0.7 0.6 0.8
Gross cost land
and buildings 2'158.0 3'574.0 2'013.0
Gross cost other
tangible fixed assets 31'370.0 27'729.0 25'074.0
Gross cost total 33'528.0 31'303.0 27'087.0 25'034.0 23'153.0
Employees at year end 17'000 331 13'504 13'839 13'673
Name: Sempra Energy
City/Country: San Diego/California, United
States of America/US
No.
of Owner/-s: 1
Class: 100%
Name: J.P. Morgan Energy
Trading Holdings Sārl
City/Country: Genčve/GE, Switzerland/CH
Capital
share: CHF 20'000.--
Interest: 100.00% voting right,
100.00% capital interest (since 10.04.2002)
Name: TTMI Sārl
City/Country: Genčve/GE, Switzerland/CH
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
08.07.2009 2009 0
08.07.2009 2008 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.
Debt collection case:
SEP 2012: CHF 62.00, paid.
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: Financial obligations are
met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
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 SCs 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.