MIRA INFORM REPORT

 

 

Report Date :

20.03.2013

 

IDENTIFICATION DETAILS

 

Name :

XSTRATA COAL MARKETING AG

 

 

Registered Office :

Bahnhofstrasse 2, Postfach, 6301 Zug/ZG

 

 

Country :

Switzerland

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.11.2000

 

 

Com. Reg. No.:

170.3.024.285-1 / 592784

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

Subject offers marketing and trading activities in the field of raw products, particularly coal products

 

 

No. of Employees :

05

 

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 – 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

 

 

Company name

 

Xstrata Coal Marketing AG

 

 

Operating address

 

Bahnhofstrasse 2

Postfach

6301 Zug/ZG

Switzerland/CH

 

Telephone:                   041 7266070

Fax:                             041 7266089

 

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

E-mail:                         info@xstrata.com

 

VAT-No.:                      CHE101297412

 

 

Profile

 

Established:                 2000

Line of Business:          Trade brokers

Industry Division:          Wholesale trade

Industry-code (NACE):     4612     Agents involved in the sale of fuels, ores, metals and industrial chemicals

Import/Export:              Agency

Banks:                          unknown

 

 

Operational Figures

 

Coverage:         Company

Employees:                  5

 

 

Activity

 

The company offers marketing and trading activities in the field of raw products, particularly coal products.

 

 

Real Estate

 

Real Estate:                  The company owns no property.

 

 

Company Register

 

Company No:               170.3.024.285-1 / 592784

Legal form:                   Company limited by shares

Registration:                 15.11.2000

Legal status:                 active

Responsible Register:   Handelsregister des Kantons Zug

History:                        Date of Statutes: 21.01.2005

                                    Date of Statutes: 19.03.2002

                                    Date of Incorporation Statutes: 15.11.2000

 

Entry            Deleted    Name

25.01.2005                    Xstrata Coal Marketing AG

15.11.2000    25.01.2005  Duiker Marketing AG

15.11.2000    25.01.2005  Duiker Marketing SA (Name translated)

15.11.2000    25.01.2005  Duiker Marketing Ltd (Name translated)

 

Entry            Deleted    Legal domicile

20.03.2002                    Zug, Switzerland

15.11.2000    20.03.2002  Cham, Switzerland

 

Entry            Deleted    Address

20.03.2002                    Bahnhofstrasse 2, 6301 Zug/ZG, Switzerland/CH

15.11.2000    20.03.2002  Zugerstrasse 15, c/o Pabst Investment + Trust - PIT, 6330 Cham, Switzerland/CH

 

Entry            Deleted    Capital

15.11.2000                    Share Capital CHF 100'000, paidup CHF 100'000

 

Entry            Deleted    Capital Structure

15.11.2000                    100 Bearer shares of CHF 1'000.--

 

Entry            Deleted    Activity (original Language)

20.03.2002                    Handel mit Rohprodukten aller Art, insbesondere mit Kohle, Erwerb, Verwaltung und Veräusserung von Beteiligungen sowie Durchführung von Finanz- und Anlagegeschäften aller Art auf internationaler Basis; kann Patente, Lizenzen, Fabrikationsverfahren, Handelsmarken und andere immaterielle Rechte erwerben, verwalten und verwerten, Grundstücke erwerben und Tochtergesellschaften errichten; kann ihren direkten oder indirekten Muttergesellschaften sowie deren oder ihren direkten oder indirekten Tochtergesellschaften Darlehen oder andere Finanzierungen gewähren und für Verbindlichkeiten von solchen anderen Gesellschaften Sicherheiten aller Art stellen, einschliesslich mittels Pfandrechten an oder fiduziarischen Uebereignungen von Aktiven der Gesellschaft oder Garantien jedwelcher Art sowie Geschäfte im Rahmen des Gesellschaftszwecks auf eigene oder fremde Rechnung ausführen oder solche vermitteln

 

Entry          Deleted      Remarks (original Language)

15.11.2000                    Publishing authority: SHAB.

 

 

Official Administration

 

Title                                           Name

President                                    Brian Azzopardi, Origin: Malta, Residential address: 6315 Oberägeri/ZG, Switzerland, joint signature of two, Registered since: 16.06.2006

Director                                      Michaela Klimanek, Origin: Zug, Switzerland, Residential address: Zug, Switzerland, joint signature of two, Registered since: 26.03.2002

Director                                      Daniel Sigrist, Origin: Willisau, Switzerland, Residential address: 6312 Steinhausen/ZG, Switzerland, joint signature of two, Registered since: 26.03.2002

 

 

Management

 

Title                                           Name

Director                                      Mark Salem, Origin: Australia, Residential address: Unterägeri/ZG, Switzerland, joint signature of two, Registered since: 10.05.2010

Member with signing authority     Christopher Heider, Origin: Winterthur, Elsau, Switzerland, Residential address: Zug, Switzerland, joint signature of two, Registered since: 07.03.2001

 

 

External Positions

 

Title                                           Name

Auditor                                       Ernst & Young AG, Residential address: Zug, Switzerland, Registered since: 06.09.2002

 

 

Executive board

 

Title                                           Name

Chief Executive Officer               Christopher Heider (cheider@xstrata.com)

 

 

Financial Data Xstrata Group

 

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. USD            th. USD            th. USD            th. USD            th. USD

Statement norm:                                          IAS                   IAS                  IAS                   IAS                  IAS

 

Balance Sheet

Intangible fixed assets                            8'228'000.0       8'403'000.0       8'422'000.0       8'898'000.0       9'329'000.0

Land and buildings                                 3'471'000.0       3'044'000.0       2'974'000.0       2'461'000.0       2'721'000.0

Other tangible fixed assets                    47'983'000.0      42'840'000.0     36'423'000.0      33'680'000.0     30'521'000.0

Tangible fixed assets                            51'454'000.0      45'884'000.0     39'397'000.0      36'141'000.0     33'242'000.0

Financial fixed assets                             3'450'000.0       3'217'000.0       3'200'000.0       3'123'000.0          860'000.0

other fixed assets                                     325'000.0          568'000.0          388'000.0

Fixed assets                                         63'457'000.0      58'072'000.0     51'407'000.0      48'162'000.0     43'431'000.0

Stocks                                                   5'242'000.0       4'763'000.0       4'570'000.0       3'573'000.0       4'167'000.0

Trade accounts receivable                       3'037'000.0       3'930'000.0       2'856'000.0       2'106'000.0       2'967'000.0

Liquid assets                                          1'948'000.0       1'722'000.0       1'177'000.0       1'156'000.0       1'148'000.0

Securities                                                   96'000.0                                                           29'000.0           89'000.0

other trade accounts                                  705'000.0          952'000.0       3'582'000.0          288'000.0          319'000.0

Accruals                                                   347'000.0          270'000.0          232'000.0

Other current assets                                3'096'000.0       2'944'000.0       4'991'000.0       1'473'000.0       1'556'000.0

Current assets                                       11'375'000.0      11'637'000.0     12'417'000.0       7'152'000.0       8'690'000.0

Total assets                                          74'832'000.0      69'709'000.0     63'824'000.0      55'314'000.0     52'121'000.0

 

Capital                                                   1'482'000.0       1'482'000.0       1'469'000.0          488'000.0          485'000.0

Other shareholders funds                      42'182'000.0      38'794'000.0     31'813'000.0      22'275'000.0     23'343'000.0

Total shareholders equity                       43'664'000.0      40'276'000.0     33'282'000.0      22'763'000.0     23'828'000.0

Minority interests                                    2'037'000.0       1'745'000.0       1'637'000.0       1'636'000.0       1'386'000.0

long term debt (financial debts)               9'929'000.0       7'154'000.0     13'252'000.0      16'366'000.0     11'381'000.0

Provisions                                              3'708'000.0       3'368'000.0       2'844'000.0       2'237'000.0       2'475'000.0

Other non current liabilities                      7'032'000.0       8'112'000.0       7'606'000.0       7'252'000.0       7'140'000.0

Non current liabilities                             20'669'000.0      18'634'000.0     23'702'000.0      25'855'000.0     20'996'000.0

short term debt (financial debts)              1'631'000.0       2'318'000.0          206'000.0          202'000.0          205'000.0

Trade accounts payable                          2'562'000.0       2'544'000.0       1'796'000.0       3'233'000.0       3'745'000.0

Provisions                                                778'000.0          711'000.0          623'000.0          497'000.0          344'000.0

Accruals                                                 1'639'000.0                                           0.0          299'000.0          454'000.0

other accounts payable                           1'852'000.0       3'481'000.0       2'578'000.0          829'000.0       1'163'000.0

other current liabilities                             4'269'000.0       4'192'000.0       3'201'000.0       1'625'000.0       1'961'000.0

Current liabilities                                     8'462'000.0       9'054'000.0       5'203'000.0       5'060'000.0       5'911'000.0

Shareh. equity, min. interests + liabilities 74'832'000.0      69'709'000.0     63'824'000.0      55'314'000.0     52'121'000.0

 

Profit and loss account

Net sales                                              33'877'000.0      30'499'000.0     22'732'000.0      27'952'000.0     28'542'000.0

Other operating revenue                                      0.0                   0.0                   0.0          213'000.0           15'000.0

Operating revenue                                 33'877'000.0      30'499'000.0     22'732'000.0      28'165'000.0     28'557'000.0

Cost of goods sold                              22'213'000.0      20'113'000.0     15'944'000.0      16'001'000.0     15'544'000.0

Gross profit                                          11'664'000.0      10'386'000.0       6'788'000.0      12'164'000.0     13'013'000.0

Other operating expenses                       3'223'000.0       2'732'000.0       2'419'000.0       6'110'000.0       3'971'000.0

Operating result                                      8'441'000.0       7'654'000.0       4'369'000.0       6'054'000.0       9'042'000.0

Interest revenues                                       121'000.0            76'000.0           46'000.0          261'000.0          216'000.0

other financial revenues                               57'000.0            91'000.0          361'000.0                   0.0           53'000.0

Financial income                                       178'000.0          167'000.0          407'000.0          261'000.0          269'000.0

Interest expenses                                      198'000.0          249'000.0          402'000.0       1'147'000.0       1'131'000.0

other financial expenses                            273'000.0          371'000.0          408'000.0                   0.0                   0.0

Financial expenses                                    471'000.0          620'000.0          810'000.0       1'147'000.0       1'131'000.0

Financial result                                         -293'000.0         -453'000.0         -403'000.0         -886'000.0         -862'000.0

Result before extraordinary items            8'148'000.0       7'201'000.0       3'966'000.0       5'168'000.0       8'180'000.0

Extraordinary income                                                            7'000.0          435'000.0

Extraordinary expenses                                                     600'000.0       2'871'000.0

Extraordinary Result                                            0.0         -593'000.0      -2'436'000.0                   0.0                   0.0

Result before taxes                                 8'148'000.0       6'608'000.0       1'530'000.0       5'168'000.0       8'180'000.0

Taxes                                                     2'215'000.0       1'653'000.0          669'000.0       1'304'000.0       2'311'000.0

Result before minority interests               5'933'000.0       4'955'000.0          861'000.0       3'864'000.0       5'869'000.0

minority interests                                       220'000.0          267'000.0          200'000.0          269'000.0          326'000.0

Result for the financial year                     5'713'000.0       4'688'000.0          661'000.0       3'595'000.0       5'543'000.0

 

Cash flow

Depreciation                                           3'118'000.0       2'639'000.0       2'334'000.0       2'286'000.0       2'025'000.0

Cash flow                                               9'051'000.0       7'594'000.0       3'195'000.0       6'150'000.0       7'894'000.0

Cash flow from operating activities          9'358'000.0       8'213'000.0       4'131'000.0       6'585'000.0       7'414'000.0

Investments in tangible fixed assets        8'108'000.0       5'819'000.0       3'568'000.0       4'796'000.0       2'848'000.0

Cash flow from investing activities          -8'620'000.0      -3'196'000.0      -5'752'000.0     -10'393'000.0      -3'871'000.0

Cash flow from financing activities            -490'000.0      -4'521'000.0       1'600'000.0       3'915'000.0      -4'208'000.0

Others                                                       -15'000.0            49'000.0           41'000.0           -31'000.0           17'000.0

Change in liquidity                                     233'000.0          545'000.0           20'000.0            76'000.0         -648'000.0

Liquidity at beginning of the year             1'710'000.0       1'165'000.0       1'145'000.0       1'069'000.0       1'717'000.0

Liquidity at end ot the year                      1'943'000.0       1'710'000.0       1'165'000.0       1'145'000.0       1'069'000.0

 

Notes

Material costs                                       22'213'000.0      20'113'000.0     15'944'000.0      16'001'000.0     15'544'000.0

Cost of employees                                 3'674'000.0       3'265'000.0       2'888'000.0       2'917'000.0       2'549'000.0

Research and Development                           2'000.0

Added value                                         15'138'000.0      12'761'000.0       7'154'000.0       8'601'000.0     11'336'000.0

Working Capital                                      5'717'000.0       6'149'000.0       5'630'000.0       2'446'000.0       3'389'000.0

Sales per Employee                                        838.7                790.9                600.7                697.9                731.7

Market capitalisation                                                                                                     76'400'000.0     68'000'000.0

Gross cost land and buildings                 5'238'000.0       4'601'000.0       4'246'000.0       3'336'000.0       2'650'000.0

Gross cost other tangible fixed assets   65'211'000.0      57'816'000.0     47'948'000.0      40'279'000.0     30'667'000.0

Gross cost total                                    70'449'000.0      62'417'000.0     52'194'000.0      43'615'000.0     33'317'000.0

 

Employees  average                                      40'391              38'561              37'845              40'049              39'008

 

 

Ultimate Parent Company

 

Name:                          Xstrata Plc

City/Country:                London, United Kingdom/GB

 

 

Owner/-s

 

No. of Owner/-s:           1

Owner:                         The company is foreign owned.

 

Class:                          100%

Name:                          Xstrata (Schweiz) AG

City/Country:                Zug/ZG, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

 

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.

 

 

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.54.26

UK Pound

1

Rs.81.94

Euro

1

Rs.70.21

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.