|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
VALE INTERNATIONAL SA |
|
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Registered Office : |
Route de Pallatex 29 1162 St-Prex/VD |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
1996 |
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Com. Reg. No.: |
550.1.046.256-7 / 830170 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
The business includes the international trade in minerals: Iron ore and Pellets, Nickel, Coal, Aluminium, Potassium, Copper, Manganese and Ferro-alloys, Koalin, Steel. |
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No. of Employees : |
111 |
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 – 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
Vale International
SA
Operating
address:
Route de Pallatex 29
1162 St-Prex/VD
Switzerland/CH
Telephone: 021
8060555
Fax: 021
8060666
Web
site: http://www.vale.com
E-mail: info@vale.com
VAT-No.: CHE112796530
Established: 1996
Line
of Business: Trade brokers,
Financial services
Industry
Division: Wholesale trade,
Services
Industry-code (NACE): 4612 Agents involved in the sale of fuels,
ores, metals and industrial chemicals
6499 Other financial service activities,
except insurance and pension funding n.e.c.
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 111
Sales: CHF 40-60 Mio
The business includes the international trade
in minerals: Iron ore and Pellets, Nickel, Coal, Aluminium,
Potassium, Copper, Manganese and Ferro-alloys, Koalin,
Steel.
Information on property ownership was not
available.
Company
No: 550.1.046.256-7 /
830170
Legal
form: Company limited
by shares
Registration: 01.03.2006
Legal
status: active
Responsible
Register: Registre
du commerce du canton de Vaud
History: Date of Statutes:
24.02.2006
Date of
Incorporation Statutes: 18.12.1996
Date of
Statutes: 29.10.2010
Date of
Statutes: 25.11.2008
Date of
Statutes: 20.06.2008
Date of
Statutes: 20.03.2008
Date of
Statutes: 22.12.2006
Entry Deleted Name
27.06.2008 Vale
International SA
27.06.2008 Vale
International Ltd (Name translated)
27.06.2008 Vale
International AG (Name translated)
27.06.2008 CVRD International SA
27.06.2008 CVRD International Ltd (Name translated)
27.06.2008 CVRD International AG (Name translated)
Entry Deleted Legal domicile
active Saint-Prex, Switzerland
Entry Deleted Address
14.09.2009 Route
de Pallatex 29, 1162 St-Prex/VD,
Switzerland/CH
01.09.2009 Chemin du Glapin 4, 1162 St-Prex/VD, Switzerland/CH
01.09.2009 14.09.2009 Chemin de la Vergognausaz 49, 1162 St-Prex/VD,
Switzerland/CH
Entry Deleted Capital
27.11.2008 Share
Capital CHF 83,636,500, paidup CHF 83,636,500
28.12.2006 Share Capital CHF 136,500, paidup
CHF 136,500
28.12.2006 27.11.2008 Share Capital CHF 65,136,500, paidup CHF 65,136,500
Entry Deleted Capital Structure
27.11.2008 83,636,500
Registered shares of CHF 1,--
28.12.2006 136,500 Registered shares of CHF 1,--
28.12.2006 27.11.2008 65,136,500 Registered shares of CHF 1,--
Entry Deleted Activity (original Language)
04.11.2010 Acheter, détenir, gérer et vendre des
participations directes ou indirectes dans des sociétés ou entreprises
principalement à l'étranger, notamment dans des sociétés et entreprises commerciales, industrielles ou financières; faire le commerce et distribuer
les produits des sociétés du groupe Vale, développer les relations avec les clients et fournir une assistance technique,
y compris le développement
de produits et la planification
de production, aux clients et aux sociétés du groupe dans
le monde entier, soit directement, soit par l'intermédiaire de filiales du groupe; exercer
des activités de recherche
et développement dans les secteurs des minerais, de la logistique et de l'énergie;
financer des sociétés et entreprises
du groupe et rendre des services commerciaux,
financiers, administratifs et légaux
à d'autres sociétés et entreprises du groupe en Suisse ou à l'étranger;
donner des garanties ou sûretés, constituer
des nantissements ou tout autre type de sûretés ou garanties en faveur de ses actionnaires
directs ou indirects, de ses filiales directes
ou indirectes, d'autres sociétés dont ses actionnaires
ou ses filiales
détiennent des actions, ou
en faveur de toutes tierces
personnes, avec ou sans rémunération (pour but complet
cf. statuts).
28.03.2008 Acheter, détenir, gérer et vendre des participations dans
des sociétés ou entreprises principalement à l'étranger, notamment
dans des sociétés et entreprises commerciales, industrielles ou financières; faire le commerce et distribuer
les produits des sociétés du groupe CVRD; développer les relations avec les clients et fournir une assistance technique,
y compris le développement
de produits et la planification
de production, aux clients et aux sociétés du groupe dans
le monde entier, soit directement, soit par l'intermédiaire de filiales du groupe; exercer
des activités de recherche
et développement dans les secteurs des minerais, de la logistique et de l'énergie;
financer des sociétés et entreprises
du groupe et rendre des services commerciaux,
financiers, administratifs et légaux
à d'autres sociétés et entreprises du groupe.
28.03.2008 04.11.2010 Acheter, détenir, gérer et vendre des participations directes
ou indirectes dans des sociétés ou entreprises principalement à l'étranger, notamment dans des sociétés et entreprises commerciales, industrielles ou financières; faire le commerce et distribuer
les produits des sociétés du groupe Companhia
Val Do Rio Doce, développer
les relations avec les clients et fournir une assistance technique, y compris
le développement de produits
et la planification de production, aux clients et aux
sociétés du groupe dans le monde entier, soit directement,
soit par l'intermédiaire de
filiales du groupe; exercer des activités de recherche et développement dans les secteurs des minerais, de la logistique et de l'énergie;
financer des sociétés et entreprises
du groupe et rendre des services commerciaux,
financiers, administratifs et légaux
à d'autres sociétés et entreprises du groupe; donner
des garanties ou sûretés, constituer des nantissements ou tout autre type de sûretés ou garanties en faveur de ses actionnaires
directs ou indirects, de ses filiales directes
ou indirectes, d'autres sociétés dont ses actionnaires
ou ses filiales
détiennent des actions, ou
en faveur de toutes tierces
personnes, avec ou sans rémunération (pour but complet
cf. statuts).
Entry Deleted Remarks (original Language)
active Note:
Précédemment à Nassau
(Bahamas) sous la raison sociale
ITABIRA RIO DOCE COMPANY LIMITED, "International Business Company" inscrite auprès du Registre général
du Commonwealth des Bahamas (inscription primitive:
18 décembre 1996).
active Publishing
authority: Feuille officielle
suisse du commerce.
active Capital:
Le capital-actions de USD 105'000, entièrement libéré, divisé en 105'000 actions
de USD 1, a été transformé,
lors du transfert
du siège, en un capital-actions
de CHF 136'500.
active Board
of directors: Stoliar Gabriel, De Souza Marques Otto,
De Oliveira Santos Neto Armando et Aguiar de Freitas Pedro ne sont plus administrateurs;
leur signature est radiée.
29.11.2011 Merger:
Reprise des actifs et passifs,
au sens de l'art. 163a
LDIP, de BRASAMERICAN LIMITED, à Pembroke (Bermudes), société de droit des Bermudes, selon contrat de fusion du 4 octobre 2011, et bilan au 31 juillet 2011, présentant des actifs de USD
19'539'893.17, des passifs envers
les tiers de USD 3'250, soit un actif
net de USD 19'536'643.17. La société reprenante détenant l'ensemble des actions de la société
transférante, la fusion ne donne pas lieu à une augmentation du capital, ni à une
attribution d'actions.
09.05.2011 Merger:
Reprise des actifs et passifs
de CVRD Overseas SA, à Saint-Prex
(CH-550-1079699-3), selon contrat
de fusion du 28 avril 2011
et bilan au 31 décembre
2010, présentant des actifs
de CHF 1'328'708, des passifs envers
les tiers de CHF 883'384, soit un actif
net de CHF 445'324. La société reprenante
détenant l'ensemble des
actions de la société transférante,
la fusion ne donne pas lieu
à une augmentation du capital, ni à une attribution d'actions.
20.06.2006 Merger:
Reprise des actifs et passifs,
au sens de l'art. 163a
LDIP, de la société RDIF OVERSEAS LTD, à Nassau (Bahamas), "International Business
Company" de droit des Bahamas, selon contrat de fusion du 22 mai 2006 et bilan au 30 avril 2006, présentant des actifs de CHF
2'173'359'000, des passifs envers
les tiers de CHF 496'194'000, soit un actif net de CHF 1'677'165'000. La société
reprenante détenant l'ensemble des actions de la société
transférante, la fusion ne donne pas lieu à une augmentation du capital, ni à une
attribution d'actions.
Title Name
President Renato Peixoto Lopes Neves , Origin: Brazil, Residential address: 1000
Lausanne/VD, Switzerland, joint signature of two, Registered since: 17.09.2008
Vice-President Guilherme
Perboyre Cavalcanti ,
Origin: Brazil, Residential address: Rio de Janeiro, Brazil, joint signature of
two, Registered since: 08.10.2010
Director Mauricio Assad Neder, Origin: Brazil,
Residential address: Echichens, Switzerland, joint
signature of two, Registered since: 16.04.2013
Director Muriel Baldanzi, Origin: Biglen,
Switzerland, Residential address: Rolle, Switzerland,
joint signature of two, Registered since: 16.04.2013
Director Fidel
Blanco Calcagno , Origin: Uruguay, Residential
address: Lausanne, Switzerland, joint signature of two, Registered since:
17.09.2008
Director Alves Claudio De Oliveira, Origin: Brazil, Residential
address: Singapore, joint signature of two, Registered since: 28.11.2012
Director José
Carlos Martins , Origin: Brazil, Residential address: Rio de Janeiro , Brazil,
joint signature of two, Registered since: 28.08.2006
Director Clovis
Torres Junior, Origin: Brazil, Residential address: Rio de Janeiro, Brazil,
joint signature of two, Registered since: 26.01.2012
Director Kenneth
Nicholas Williams , Origin: United Kingdom, Residential address: Pully, Switzerland, joint signature of two, Registered
since: 03.08.2012
Director Sonia Zagury , Origin: Brésil,
Switzerland, Residential address: Rio de Janeiro, Brazil, joint signature of
two, Registered since: 26.01.2012
Title Name
Auditor PricewaterhouseCoopers
SA , Residential address: Genève, Switzerland
Title Name
Chief
Executive Officer Renato Peixoto Lopes Neves
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010
Number of months: 12 12
Currency: mil.
USD mil. USD
Balance Sheet
Intangible fixed
assets 4,161,0 4,591,0
Tangible fixed
assets 88,895,0 83,096,0
Financial fixed
assets 8,093,0 4,497,0
other fixed assets 5,843,0 5,164,0
Fixed assets 106,992,0 97,348,0
Stocks 5,251,0 4,298,0
Liquid assets 3,531,0 7,584,0
Securities 1,793,0
other trade
accounts 12,954,0 18,116,0
Other current
assets 16,485,0 27,493,0
Current assets 21,736,0 31,791,0
Total assets 128,728,0 129,139,0
Total shareholders
equity 79,609,0 71,729,0
Minority interests 505,0 712,0
long term debt
(financial debts) 21,538,0 21,591,0
Provisions 3,372,0 3,336,0
Other non current
liabilities 12,661,0 13,859,0
Non current liabilities 37,571,0 38,786,0
short term debt
(financial debts) 1,517,0 2,962,0
Trade accounts
payable 4,814,0 3,558,0
Provisions 507,0 751,0
other accounts
payable 4,205,0 10,641,0
other current
liabilities 4,712,0 11,392,0
Current
liabilities 11,043,0 17,912,0
Shareh. equity, min.
interests + liabilities 128,728,0 129,139,0
Name: Vale S.A
City/Country: Rio de Janeiro, Brazil/BR
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: Vale S.A
City/Country: Rio de Janeiro, Brazil/BR
Interest: 100,00% voting right,
100,00% capital interest
Name: Corredor
Logistico Integrado De Nacala S.A.
City/Country: Nacala-Porto/Nampula,
Mozambique/MZ
Class: 100%
Name: Vale Slabs SA
City/Country: St-Prex/VD,
Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Vale Switzerland SA
City/Country: St-Prex/VD,
Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
13.12.2012 2012 0
13.12.2012 2011 0
13.12.2012 2010 0
13.12.2012 2009 1 5,020,-- Opposition filed
13.12.2012 2008 0
09.12.2009 2007 0
09.12.2009 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: Financial obligations are
met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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.