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Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SUNPOWER SYSTEMS SÀRL |
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|
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Registered Office : |
Avenue de Frontenex 8 1207 Genève/GE |
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Country : |
Switzerland |
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Date of Incorporation : |
13.05.2005 |
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|
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Com. Reg. No.: |
270.3.013.559-7 / 791874 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
The business activities includes the development and design of solar
systems. |
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No. of Employees : |
17 |
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 |
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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 – 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 |
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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 |
SUNPOWER SYSTEMS SÀRL
Operating address:
Avenue de Frontenex 8
1207 Genève/GE
Switzerland/CH
Telephone: 022 3041400
Fax: 022 3041405
Web site: http://us.sunpowercorp.com
VAT-No.: CHE112357739
Established: 2005
Line of Business: Engineering/Architecture
Industry Division: Services
Industry-code (NACE): 7112 Engineering activities and related
technical consultancy
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 17
The business activities includes the development and design of solar systems.
Information on property ownership was not available.
Company No: 270.3.013.559-7
/ 791874
Legal form: Limited
Liability Company
Registration: 13.05.2005
Legal status: active
Responsible Register: Registre du
commerce du canton de Genève
History: Date
of Statutes: 06.07.2009
Entry Deleted Name
22.07.2009 SunPower
Systems Sàrl
Entry Deleted Legal domicile
active Genève,
Switzerland
Entry Deleted Address
active Avenue
de Frontenex 8, 1207 Genève/GE, Switzerland/CH
Entry Deleted Capital
active LLC
Capital CHF 100'000, paidup CHF 100'000
Entry Deleted Capital Structure
24.09.2009 100
Participation shares of CHF 1'000.--
Entry Deleted Activity (original Language)
active Vente,
planification, fabrication et construction d'installations solaires et de
produits ou de systèmes analogues.
Entry Deleted Remarks (original Language)
active Publishing
authority: Feuille Officielle Suisse du Commerce.
active Obligations:
Obligation de fournir des prestations accessoires, droits de préférence, de
préemption ou d'emption: pour les détails, voir les statuts.
active Change
of Corporate Form: La société anonyme a été transformée en société à
responsabilité limitée conformément au projet de transformation du 25.06.2009
et bilan au 31.12.2008, présentant des actifs de CHF 521'664'947 et des passifs
envers les tiers de CHF 505'382'968, contre attribution à l'associée de 100
parts de CHF 1'000.
active Reports:
Communication aux associés: par écrit ou par courriel.
24.09.2009 Shares:
Les modalités de transfert des parts sociales dérogent à la loi selon les
statuts.
Title Name
President Howard Wenger,
Origin: United States of America, Residential address: Walnut Creek/CA, United
States of America, single signature, Registered since: 10.05.2012
Title Name
General
Manager Carl-Manuel
Brachet, Origin: Zürich, Switzerland, Residential address: Genève/GE,
Switzerland, single signature
General
Manager Howard
Wenger, Origin: United States of America, Residential address: Walnut Creek/CA,
United States of America, single signature, Registered since: 10.05.2012
Director Mario
Riello, Origin: Italy, Residential address: Genève/GE, Switzerland, single
signature
Member
with signing authority Marina Ring,
Origin: Russia, Residential address: Genève/GE, Switzerland, joint signature of
two, Registered since: 21.12.2010
Member
with signing authority Carlo
Scapinelli, Origin: Italy, Residential address: Bérolle, Switzerland, joint
signature of two, Registered since: 21.12.2010
Title Name
Auditor Ernst
& Young SA, Residential address: Lancy, Switzerland, Id: CH-660-0176999-6, Registered
since: 15.11.2012
Name: Sunpower
Corporation
City/Country: San
Jose/California, United States of America/US
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: SunPower
Bermuda Holdings
City/Country: Hamilton,
Bermuda/BM
Capital share: CHF
100'000.--
Interest: 100.00%
voting right, 100.00% capital interest
SunPower Corporation designs, manufactures and delivers high efficiency,
high reliability solar cells, solar panels and solar systems.
SunPower is headquartered in San Jose, California, with offi ces in
North America, Europe, Australia and Asia.
It is believed that the company has no investments.
Control date Year No. Amount
CHF Status
20.03.2012 2012 1 213.-- Legal actions
20.03.2012 2011 0
20.03.2012 2010 0
20.03.2012 2009 0
20.03.2012 2008 0
20.03.2012 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.
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.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.