MIRA INFORM REPORT

 

 

Report Date :

11.06.2013

 

IDENTIFICATION DETAILS

 

Name :

INDULOR AG

 

 

Registered Office :

Industriestrasse 49 6300 Zug/ZG

 

 

Country :

Switzerland

 

 

Date of Incorporation :

20.12.1994

 

 

Com. Reg. No.:

170.3.019.762-9 / 347149

 

 

Legal Form :

Company Limited by Shares

 

 

Line of Business :

Wholesale of chemical products

 

 

No. of Employees :

4

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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

Company name and address

 

Indulor AG

 

Operating address:

Industriestrasse 49

6300 Zug/ZG

Switzerland/CH

 

Telephone:                   041 7689988

Fax:                             041 7689989

 

Web site:                      http://www.indulor.com

E-mail:                         info@indulor.ch

 

VAT-No.:                      CHE107704456

 

 

Profile

 

Established:                 1994

Line of Business:          Consumer goods wholesale

Industry Division:          Wholesale trade

Industry-code (NACE):  4675       Wholesale of chemical products

Import/Export:              Import, Export

Banks:                          unknown

 

 

Operational Figures

 

Coverage:                    Company

Employees:                  4

 

 

Activity

 

The business activities includes the distribution of Solid Resins, Emulsions, Solution Polymers and Additives based on special polymers for the following fields of applications: Printing Inks & Overprint Varnishes, Wood Finishing, Architectural Coatings, Paper Finishing and Various Applications.

 

 

Real Estate

 

Information on property ownership was not available.

 

Company Register

 

Company No:               170.3.019.762-9 / 347149

Legal form:                   Company limited by shares

Registration:                 20.12.1994

Legal status:                 active

Responsible Register:   Handelsregister des Kantons Zug

History:                        Date of Incorporation Statutes: 19.12.1994

                                    Date of Statutes: 30.05.2012

 

Entry          Deleted      Name

active                           Indulor AG

 

Entry          Deleted      Legal domicile

active                           Zug, Switzerland

 

Entry          Deleted      Address

21.09.2001                    Industriestrasse 49, 6300 Zug/ZG, Switzerland/CH

                  21.09.2001  c/o Online Treuhand AG, Grabenstrasse 8, 6300 Zug/ZG, Switzerland/CH

 

Entry          Deleted      Capital

active                           Share Capital CHF 250,000, paidup CHF 250,000

 

Entry          Deleted      Capital Structure

active                           200 Registered shares with restricted transferability of CHF 1,000,--

active                           500 Registered shares (voting shares) of CHF 100,--

 

Entry          Deleted      Activity (original Language)

12.06.2012                    Vertrieb von und Handel mit chemischen Erzeugnissen im In- und Ausland; vollständige Zweckumschreibung gemäss Statuten.

                  12.06.2012  Vertrieb von und Handel mit chemischen Erzeugnissen; kann Grundeigentum erwerben, veräussern und verwalten

 

Entry          Deleted      Remarks (original Language)

active                           Publishing authority: SHAB.

12.06.2012                    Shares: Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt. [Ferner Änderung nicht publikationspflichtiger Tatsachen].

12.06.2012                    Reports: Die Mitteilungen an die Aktionäre erfolgen in Schriftform (per Post, Kurierdienst, Fax oder E-Mail).

 

 

Official Administration

 

Title                                           Name

President                                    Erwin Fengler, Origin: Germany, Residential address: Ankum , Germany, single signature, Registered since: 14.03.2011

Director                                      Urs Flury, Origin: Basel, Balsthal, Switzerland, Residential address: Basel, Switzerland, single signature

 

Management

 

Title                                           Name

General Manager                         Anna Ventrone, Origin: Italy, Residential address: Eschenbach/LU, Switzerland, single signature

Member with signing authority      Priska Feusi, Origin: Feusisberg, Switzerland, Residential address: 6300 Zug/ZG, Switzerland, joint signature of two

 

 

External Positions

 

Title                                           Name

Auditor                                       BANDO TREUHAND AG, Residential address: Ettingen, Switzerland, Id: CH-280.3.005.107-8

 

 

Executive board

 

Title                                           Name

Chief Executive Officer               Anna Ventrone

 

 

Ultimate Parent Company

 

Name:                          Indulor Chemie Gesellschaft mit beschränkter Haftung

City/Country:                Ankum/Niedersachsen, Germany/DE

 

 

Owner/-s

 

No. of Owner/-s:           1

Owner:                         The company is foreign owned.

 

Class:                          100%

Name:                          Indulor Chemie Gesellschaft mit beschränkter Haftung

City/Country:                Ankum/Niedersachsen, Germany/DE

Interest:                        100,00% voting right, 100,00% capital interest

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

22.05.2009          2009                           0

22.05.2009          2008                           0

22.05.2009          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.

 

 

Credit Information

 

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.57.78

UK Pound

1

Rs.89.71

Euro

1

Rs.76.23

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.