MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ICC Handels AG |
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Registered Office : |
Chamerstrasse 12 C Postfach 6304 Zug/ZG |
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Country : |
Switzerland |
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Date of Incorporation : |
19.03.1960 |
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Com. Reg. No.: |
170.3.002.067-1/85412 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Sale of Plastics, Raw Materials and Chemicals, and Services. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
ICC Handels AG
Operating address:
Chamerstrasse 12c, Postfach 6304
Zug/ZG Switzerland/CH
Telephone: 041
7118044
Fax: 041
7102243
Web site: http://www.iccchem.com
E-mail: switzerland@iccchem.com
WIN Worldbox No.: CH0000410101
VAT-No.: CHE106919244
Established: 1960
Line of Business: Consumer goods wholesale, Commercial services
Industry Division: Wholesale trade, Services
Industry-code (NACE): 4675 Wholesale of
chemical products
4676 Wholesale of other intermediate products
8299 Other business support service activities
n.e.c.
Import/Export: Import, Export
Banks: CS
Credit Suisse
Coverage: Company
Employees: 5
The business activities includes the sale of plastics, raw materials and
chemicals, and services as a European headquarters in the areas of
administration and finance.
Information on property ownership was not available.
Company
No: 170.3.002.067-1 / 85412
Legal
form: Company limited
by shares
Registration: 19.03.1960
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date of Statutes:
29.12.1972
Date of
Statutes: 04.11.2010
Date of
Statutes: 30.11.2009
Date of
Statutes: 13.08.1997
Entry Deleted Name
active ICC
Handels AG
active ICC
Trading Limited (Name translated)
Entry Deleted Legal domicile
active Zug,
Switzerland
Entry Deleted Address
active Chamerstrasse
12c, 6300 Zug/ZG, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 1'000'000, paidup CHF 1'000'000
Entry Deleted Capital Structure
16.11.2010 1'000
Registered shares of CHF 1'000.--
16.11.2010 1'000 Bearer shares of CHF 1'000.--
Entry Deleted Activity (original Language)
20.08.1997 Handel
mit Kunststoffen, Rohmaterialien und Chemikalien, Beteiligung an ähnlichen Unternehmen
sowie Verwaltung von Vermögenswerten aller Art für eigene und fremde Rechnung;
kann Patente, Handelsmarken sowie technische und industrielle Kenntnisse
erwerben, verwalten und übertragen
20.08.1997 Handel mit Kunststoffen, Rohmaterialien und Chemikalien;
Errichtung von Zweigniederlassungen; Beteiligung in irgendwelcher Form an
ähnlichen Unternehmungen; Verwaltung von Vermögenswerten aller Art
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Merger:
Übernahme der Aktiven und der Passiven der "Chemotrade AG", in Zug,
gemäss Bilanz per 31.03.1969 und Fusionsvertrag vom 10.05.1967 nach Massgabe
von Art. 748 OR. Da die übernehmende Gesellschaft Eigentümerin sämtlicher
Aktien der übernommenen Gesellschaft war, fand keine Kapitalerhöhung statt
active Merger:
Übernahme der Aktiven und Passiven der "ICC Handels AG", in Zug,
gemäss Bilanz per 31.12.1962 und Fusionsvertrag vom 25.10.1963 nach Massgabe
von Art. 748 OR. Da die übernehmende Gesellschaft Eigentümerin sämtlicher
Aktien der übernommenen Gesellschaft war, fand keine Kapitalerhöhung statt
16.11.2010 Reports:
Die Mitteilungen an die Aktionäre erfolgen in schriftlicher Form,
einschliesslich Telefax oder E-Mail, an die im Aktienbuch verzeichneten Adressen.
10.12.2009 16.11.2010 Reports: Die Mitteilungen an die Aktionäre
erfolgen durch Publikation im SHAB oder, sofern die Namen und Adressen
sämtlicher Aktionäre bekannt sind in schriftlicher Form (einschliesslich
Telefax oder E-Mail).
Title Name
President John J.
Farber, Origin: United States of America, Residential address: New York, United
States of America, joint signature of two
Vice-President Dr. Markus Berni,
Origin: Vals, Switzerland, Residential address: 8702 Zollikon/ZH, Switzerland,
joint signature of two
Chief
Executive Naveen
Chandra, Origin: United States of America, Residential address: Norwood ,
United States of America, joint signature of two, Registered since: 22.07.2010
Chief
Executive James
R. Muller, Origin: United States of America, Residential address: Kings Park ,
United States of America, joint signature of two
Director Blaise J.
Sarcone, Origin: United States of America, Residential address: Hauppauge,
United States of America, joint signature of two, Registered since: 06.06.2011
Title Name
Member
with signing authority Eva
Turi-Nagy, Origin: Zug, Switzerland, Residential address: 6300 Zug/ZG,
Switzerland, joint signature of two
Member
with procuration Beate Michel,
Origin: Kerns, Switzerland, Residential address: 8915 Hausen am Albis/ZH,
Switzerland, joint power of attorney of two, Registered since: 16.01.2004
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zug, Switzerland
Title Name
Chief
Executive Officer Dr.
Markus Berni
Name: ICC Industries Inc
City/Country: New York/New York, United
States of America/US
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: ICC Industries Inc
City/Country: New York/New York, United
States of America/US
Interest: 100.00% voting right,
100.00% capital interest
Name: Primex Plastics
Corporation
City/Country: Richmond/Indiana, United States
of America/US
Class: 100%
Name: ICC Chemicals (UK)
Ltd.
City/Country: Saffron Walden/Essex, United
Kingdom/GB
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: ICC (HONG KONG)
LIMITED
City/Country: Wanchai, Hong Kong/HK
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: ICC Industries B.V.
City/Country: Amsterdam, Netherlands/NL
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: ICC Italia S.r.l.
City/Country: Milano, Italy/IT
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: ICC-Chemol Kft.
City/Country: Budapest, Hungary/HU
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Interlube S.L.
City/Country: Madrid, Spain/ES
Interest: 100.00% voting right,
100.00% capital interest
Control date Year No. Amount CHF Status
23.02.2007 2007 0
23.02.2007 2006 0
23.02.2007 2005 0
23.02.2007 2004 0
23.02.2007 2003 0
23.02.2007 2002 0
23.02.2007 2001 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 in order.
Payment experiences: There are no objections regarding the payment of financial
obligations.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.04 |
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|
1 |
Rs.83.95 |
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Euro |
1 |
Rs.70.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.