|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SSM VERTRIEBS AG |
|
|
|
|
Registered Office : |
Hinterbergstrasse
20, 6330 Cham/ZG |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
21.05.1999 |
|
|
|
|
Com. Reg. No.: |
170.3.022.879-9 / 457474 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Subject includes sales of textile
machinery of the SSM group. |
|
|
|
|
No. of Employees : |
5 |
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 : |
Regular |
|
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 |
SSM
Vertriebs AG
Operating
address:
Hinterbergstrasse
20
6330 Cham/ZG
Switzerland/CH
Telephone: 041 7661626
Fax: 041 7661610
Web site: http://www.schweiter.ch
E-mail: info@schweiter.com
CHE105139410
Established: 1999
Line of Business: Industrial
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4664 Wholesale of
machinery for the textile industry and of sewing and knitting machines
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 5
Sales: CHF
8-10 Mio
The business
activities includes sales of textile
machinery of the SSM group.
Information on
property ownership was not available.
Company No: 170.3.022.879-9
/ 457474
Legal form: Company
limited by shares
Registration: 21.05.1999
Legal status: active
Responsible Register: Handelsregister des Kantons Zug
History: Date
of Statutes: 03.01.2011
Date of Incorporation Statutes: 08.03.1999
Entry Deleted Name
21.05.1999 SSM
Vertriebs AG
Entry Deleted Legal domicile
20.01.2011 Steinhausen,
Switzerland
21.05.1999 20.01.2011 Baar, Switzerland
Entry Deleted Address
20.01.2011 Hinterbergstrasse
20, 6330 Cham/ZG, Switzerland/CH
21.05.1999 20.01.2011 Neuhofstrasse 12, 6340 Baar/ZG, Switzerland/CH
Entry Deleted Capital
21.05.1999 Share
Capital CHF 100'000, paidup CHF 100'000
Entry Deleted Capital Structure
21.05.1999 1'000 Registered shares of CHF
100.--
Entry Deleted Activity (original Language)
21.05.1999 Handel
mit Textilmaschinen sowie Erbringen der damit zusammenhängenden
Dienstleistungen; kann Tochtergesellschaften errichten, sich an anderen
Unternehmen beteiligen sowie Grundstücke erwerben, halten und veräussern.
Entry Deleted Remarks (original Language)
20.01.2011 Reports:
Die Mitteilungen an die Aktionäre erfolgen per Brief, Fax oder E-Mail an die im
Aktienbuch verzeichneten Adressen.
21.05.1999 Publishing
authority: SHAB.
Official
Administration
Title Name
President Beat
Siegrist, Origin: Vordemwald, Switzerland, Residential address: Herrliberg,
Switzerland, joint signature of two, Registered since: 21.05.1999
Director Dr.
Heinz O. Baumgartner, Origin: Zürich, Meilen, Switzerland, Residential address:
Oberwil-Lieli, Switzerland, joint signature of two, Registered since:
21.05.1999
Title Name
General Manager Ernst
Maurer, Origin: Zürich, Switzerland, Residential address: Elgg, Switzerland,
joint signature of two, Registered since: 23.04.2010
Member of the management Martin Philipp Klöti, Origin: Zürich, Switzerland,
Residential address: 8908 Hedingen/ZH, Switzerland, joint signature of two,
Registered since: 04.11.2004
Member with signing authority Sonja Kälin-Walker, Origin: Einsiedeln,
Gurtnellen, Switzerland, Residential address: 8846 Willerzell /SZ, Switzerland,
joint signature of two, Registered since: 13.11.2008
External
Positions
Title Name
Auditor Deloitte
AG, Residential address: Zürich, Switzerland, Id: CH-020.3.908.370-9
Executive
board
Title Name
Chief Executive Officer Ernst Maurer
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010 31.12.2009 31.12.2008 31.12.2007
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: IAS IAS IAS IAS IAS
Balance
Sheet
Intangible fixed
assets 57'679.0 62'820.0 73'147.0 5'653.0 7'014.0
Land and buildings 124'246.0 126'636.0 131'771.0 15'725.0 29'933.0
Other tangible
fixed assets 83'564.0 91'741.0 111'653.0 2'031.0 10'260.0
Tangible fixed
assets 207'810.0 218'377.0 243'424.0 17'756.0 40'193.0
Financial fixed
assets 8'415.0 5'286.0 3'039.0 136.0 5'516.0
other fixed assets 35'314.0 32'188.0 21'539.0 102.0 2'943.0
Fixed assets 309'218.0 318'671.0 341'149.0 23'647.0 55'666.0
Stocks 126'178.0 115'446.0 96'837.0 22'101.0 66'146.0
Trade accounts
receivable 104'974.0 133'508.0 102'774.0 33'724.0 113'567.0
Liquid assets 295'800.0 275'163.0 301'584.0 596'146.0 134'549.0
other trade
accounts 22'128.0 32'709.0 12'420.0 7'007.0 12'086.0
Accruals 1'476.0 2'645.0 1'697.0 933.0 1'578.0
Other current
assets 319'404.0 310'517.0 315'701.0 604'086.0 148'213.0
Current assets 550'556.0 559'471.0 515'312.0 659'911.0 327'926.0
Total assets 859'774.0 878'142.0 856'461.0 683'558.0 383'592.0
Capital 1'444.0 1'444.0 1'444.0 1'444.0 1'444.0
Other shareholders
funds 635'739.0 637'659.0 621'978.0 651'189.0 238'718.0
Total shareholders
equity 637'183.0 639'103.0 623'422.0 652'633.0 240'162.0
Minority interests 0.0 0.0 0.0 0.0 0.0
long term debt
(financial debts) 3'911.0 4'469.0 5'048.0 43.0 523.0
Provisions 35'266.0 13'799.0 16'146.0 1'501.0 2'993.0
Other non current
liabilities 70'108.0 77'505.0 74'779.0 460.0 25'366.0
Non current
liabilities 109'285.0 95'773.0 95'973.0 2'004.0 28'882.0
short term debt
(financial debts) 1'552.0 3'616.0 13'420.0 44.0 13'958.0
Trade accounts
payable 54'161.0 70'901.0 47'035.0 6'448.0 35'642.0
Provisions 11'325.0 6'656.0 8'301.0 5'429.0 8'584.0
Accruals 37'835.0 48'427.0 44'464.0 8'955.0 26'534.0
other accounts
payable 8'433.0 13'666.0 23'846.0 8'045.0 29'830.0
other current
liabilities 57'593.0 68'749.0 76'611.0 22'429.0 64'948.0
Current
liabilities 113'306.0 143'266.0 137'066.0 28'921.0 114'548.0
Shareh. equity,
min. interests + liabilities 859'774.0 878'142.0 856'461.0 683'558.0 383'592.0
Profit
and loss account
Sales 785'643.0 932'059.0 132'553.0 158'062.0 217'586.0
Reduction of
proceeds 0.0 0.0 9'817.0 10'252.0 12'139.0
Net sales 785'643.0 932'059.0 122'736.0 147'810.0 205'447.0
Other operating
revenue 18'117.0 12'257.0 685.0 461.0 292.0
Operating revenue 803'760.0 944'316.0 123'421.0 148'271.0 205'739.0
Cost of goods sold 413'316.0 468'036.0 68'368.0 79'441.0 117'269.0
Gross profit 390'444.0 476'280.0 55'053.0 68'830.0 88'470.0
Other operating
expenses 330'702.0 408'908.0 75'440.0 71'704.0 37'183.0
Operating result 59'742.0 67'372.0 -20'387.0 -2'874.0 51'287.0
Interest revenues 1'111.0 1'265.0 3'420.0 2'729.0 955.0
other financial
revenues 855.0 292.0 2'456.0 2'877.0 1'354.0
Financial income 1'966.0 1'557.0 5'876.0 5'606.0 2'309.0
Interest expenses 2'934.0 1'451.0 161.0 258.0 285.0
other financial
expenses 3'381.0 11'412.0 6'369.0 13'171.0 1'798.0
Financial expenses 6'315.0 12'863.0 6'530.0 13'429.0 2'083.0
Financial result -4'349.0 -11'306.0 -654.0 -7'823.0 226.0
Result before
extraordinary items 55'393.0 56'066.0 -21'041.0 -10'697.0 51'513.0
Result before
taxes 55'393.0 56'066.0 -21'041.0 -10'697.0 51'513.0
Taxes 7'891.0 5'094.0 -605.0 1'195.0 1'812.0
Result before
minority interests 47'502.0 50'972.0 -20'436.0 -11'892.0 49'701.0
minority interests 0.0 0.0 0.0 0.0 0.0
Result for the
financial year 47'502.0 50'972.0 -20'436.0 -11'892.0 49'701.0
Cash
flow
Depreciation 28'665.0 32'566.0 4'168.0 3'758.0 4'866.0
Cash flow 76'167.0 83'538.0 -16'268.0 -8'134.0 54'567.0
Cash flow from
operating activities 53'539.0 22'255.0 10'194.0 23'958.0 56'296.0
Investments in
tangible fixed assets 15'514.0 22'328.0 2'445.0 3'903.0 3'506.0
Cash flow from investing
activities -16'282.0 -12'608.0 -250'097.0 502'900.0 7'016.0
Cash flow from
financing activities -15'995.0 -22'466.0 -48'715.0 -52'026.0 -6'953.0
Others -625.0 -13'602.0 -5'944.0 -13'235.0 -174.0
Change in
liquidity 20'637.0 -26'421.0 -294'562.0 461'597.0 56'185.0
Liquidity at
beginning of the year 275'163.0 301'584.0 596'146.0 134'549.0 78'364.0
Liquidity at end
ot the year 295'800.0 275'163.0 301'584.0 596'146.0 134'549.0
Notes
Material costs 413'316.0 472'132.0 64'092.0 79'441.0 117'269.0
Cost of employees 156'835.0 205'252.0 45'828.0 44'519.0 48'979.0
Research and
Development 7'857.0 14'537.0 13'906.0 13'492.0 14'529.0
Orders received 857'746.0 960'878.0 175'169.0 134'733.0 217'896.0
Added value 243'827.0 295'335.0 29'116.0 37'838.0 105'643.0
Working Capital 176'991.0 178'053.0 152'576.0 49'377.0 144'071.0
Sales per Employee 254.1 248.9 244.5 289.8 378.4
Market
capitalisation 727'611.0 1'082'754.0 783'914.0 541'377.0 512'143.0
Gross cost land
and buildings 146'551.0 169'881.0 167'735.0 25'282.0 42'798.0
Gross cost other
tangible fixed assets 249'769.0 248'112.0 262'521.0 18'948.0 46'104.0
Gross cost total 396'320.0 417'993.0 430'256.0 44'230.0 88'902.0
Insurance value
total 587'404.0 250'369.0 289'066.0 37'867.0 105'210.0
Employees at year end 3'092 3'745 502 510 543
Employees average 754 535 545
Ultimate
Parent Company
Name: Schweiter
Technologies AG
City/Country: Horgen/ZH,
Switzerland/CH
Owner/-s
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Name: Schweiter
Technologies AG
City/Country: Horgen/ZH,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest (since 1999)
Sisters
Name: SSM
Schärer Schweiter Mettler AG
City/Country: Horgen/ZH,
Switzerland/CH
Name: 3A
Composites Holding AG
City/Country: Cham/ZG,
Switzerland/CH
Investments
It is believed
that the company has no investments.
Legal
Actions
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 in order.
Payment experiences: There are no objections regarding the payment of financial
obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.