MIRA INFORM REPORT
|
Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUEK AG |
|
|
|
|
Registered Office : |
Vadianstrasse 59, 9000 St. Gallen/SG |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.12.2004 |
|
|
|
|
Com. Reg. No.: |
320.3.056.493-6 / 778238 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
supplier of the Russian steam coal to the
international market |
|
|
|
|
No. of Employees : |
10-19 |
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 – 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 |
SUEK AG
Vadianstrasse 59
9000 St. Gallen/SG
Switzerland/CH
Telephone: 071
2268500
Fax: 071
2268503
Web
site: http://www.suekag.com
E-mail: info@suekag.com
VAT-No.: CHE112160817
Established: 2004
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: UBS
Ltd
Coverage: Company
Employees: 10-19
Sales: CHF 2-4 Bil
The company is a bigg supplier of the Russian steam coal to the
international market. They delivers coal to more than 30 countries all over the
world.
The most important direction of our seaborne deliveries is Far East.
Shipments to Japan, South Korea, China, Taiwan are used to be arranged via
ports of Vanino Bulk Terminal (Muchke bay), Maly and Vostochny. The main consumers of our coal
in this direction are power stations, cement and metallurgical companies. About
30-35% of the total volume of coal is exported through Murmansk and Baltic
ports to the countries of Atlantic basin. The third direction they sale to
Black Sea and Azov Sea (through ports of Azov and Izmail).
Real Estate: The
company owns no property.
Company
No: 320.3.056.493-6 /
778238
Legal
form: Company limited
by shares
Registration: 23.12.2004
Legal
status: active
Responsible
Register: Handelsregister des Kantons
St. Gallen
History: Date of Statutes:
22.09.2008
Date of
Statutes: 07.08.2006
Date of Statutes:
10.03.2006
Date of
Statutes: 22.12.2005
Date of
Incorporation Statutes: 15.12.2004
Entry Deleted Name
28.12.2005 SUEK
Ltd (Name translated)
23.12.2004 SUEK
AG
Entry Deleted Legal domicile
23.12.2004 St.
Gallen, Switzerland
Entry Deleted Address
11.08.2005 Vadianstrasse
59, 9000 St. Gallen/SG, Switzerland/CH
23.12.2004 11.08.2005 c/o Ostschweizerische Treuhand-Gesellschaft,
Bogenstrasse 7, 9001 St. Gallen/SG, Switzerland/CH
Entry Deleted Capital
23.09.2008 Share
Capital CHF 26'000'000, paidup CHF 26'000'000
15.03.2006 23.09.2008 Share Capital CHF 500'000, paidup CHF 500'000
23.12.2004 15.03.2006 Share Capital CHF 500'000, paidup CHF 100'000
Entry Deleted Capital Structure
23.09.2008 2'600'000
Registered shares of CHF 10.--
23.12.2004 23.09.2008 50'000 Registered shares of CHF 10.--
Entry Deleted Activity (original Language)
28.12.2005 Handel
mit Waren aller Art, insbesondere Kohle und anderen Energieträgern. Die
Gesellschaft kann Aktionäre und Gruppengesellschaften finanzieren, ihnen
Darlehen gewähren sowie Garantien stellen, Zweigniederlassungen und
Tochtergesellschaften im In- und Ausland errichten und jede Art von Unternehmen
erwerben, halten, veräussern oder finanzieren sowie Grundstücke erwerben,
halten und veräussern.
23.12.2004 28.12.2005 Handel mit Waren aller Art, insbesondere mit
Kohle und anderen Energieträgern. Die Gesellschaft kann Zweigniederlassungen
und Tochtergesellschaften im In- und Ausland errichten, sich an anderen
Unternehmen im In- und Ausland beteiligen sowie Grundeigentum im In- und
Ausland erwerben und veräussern.
Entry Deleted Remarks (original Language)
23.09.2008 Capital:
Ordentliche Kapitalerhöhung.
28.12.2005 Shares:
Die Beschränkung der Übertragbarkeit der Namenaktien ist aufgehoben.
28.12.2005 Reports:
Einberufung und Mitteilungen erfolgen durch Brief an die im Aktienbuch
eingetragenen Aktionäre.
23.12.2004 Publishing
authority: SHAB.
Title Name
President Igor
Gribanovskiy, Origin: Russia, Residential address: Moskau, Russia, joint
signature of two
Vice-President Kuzma Valerievich
Marchuk, Origin: Russia, Residential address: Moskau, Russia, joint signature
of two, Registered since: 15.02.2012
Director Sander
Frederik Mallien, Origin: Baden, Switzerland, Residential address: 5400
Baden/AG, Switzerland, joint signature of two
Title Name
General
Manager Yury
Alexandrovich Filippov, Origin: Russia, Residential address: 9000 St.
Gallen/SG, Switzerland, joint signature of two
Title Name
Auditor KPMG AG,
Residential address: St. Gallen, Switzerland
Title Name
Chief
Executive Officer Yury
Alexandrovich Filippov
Consolidation: unconsolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Balance Sheet
Intangible fixed
assets 2'344.9 3'172.4 0.0
Tangible fixed
assets 582.3 690.5 234.1 179.7 198.0
Financial fixed
assets 173'679.1 177'014.9 3'961.8 434.0 446.9
Fixed assets 176'606.3 180'877.8 4'195.9 613.7 644.9
Stocks 95'149.5 162'826.1 145'807.0 154'776.3 166'550.3
Trade accounts
receivable 191'983.7 150'887.3 241'406.3 252'785.9 251'067.1
Liquid assets 53'174.8 28'678.7 38'832.9 268'640.7 164'773.5
Securities 20'396.3 13'389.2
other trade
accounts 131'869.3 44'587.5 14'400.4 5'437.5 41.9
Accruals 93.6 182.4 61.5 21.9 19.7
Other current
assets 205'534.0 86'837.8 53'294.8 274'100.1 164'835.1
Current assets 492'667.2 400'551.2 440'508.1 681'662.3 582'452.5
Total assets 669'273.5 581'429.0 444'704.0 682'276.0 583'097.4
Capital 26'000.0 26'000.0 26'000.0 26'000.0 26'000.0
Other shareholders
funds 269'278.9 126'873.6 102'876.9 95'614.1 58'889.7
Total shareholders
equity 295'278.9 152'873.6 128'876.9 121'614.1 84'889.7
long term debt
(financial debts) 0.0 0.0 0.0 0.0 0.0
Provisions 14'873.5 0.0 0.0 0.0 0.0
Other non current
liabilities 0.0 0.0 0.0 0.0 0.0
Non current
liabilities 14'873.5 0.0 0.0 0.0 0.0
short term debt (financial
debts) 71'930.5 50'288.1 64'384.5 229'702.7 158'726.2
Trade accounts
payable 115'079.6 226'509.5 71'564.1 36'677.6 155'604.4
Provisions 14'371.0 15'674.9 16'731.1 17'211.7 3'694.4
other accounts
payable 157'740.0 136'082.9 163'147.4 277'069.9 180'182.7
other current
liabilities 172'111.0 151'757.8 179'878.5 294'281.6 183'877.1
Current
liabilities 359'121.1 428'555.4 315'827.1 560'661.9 498'207.7
Shareh. equity,
min. interests + liabilities 669'273.5 581'429.0 444'704.0 682'276.0 583'097.4
Profit and loss
account
Net sales 3'581'169.7 3'288'059.1 2'667'595.6 2'709'022.9 2'553'341.3
Other operating
revenue 3'291.8 2'747.5 9'039.3 2'251.4 1'099.5
Operating revenue 3'584'461.5 3'290'806.6 2'676'634.9 2'711'274.3 2'554'440.8
Cost of goods sold 3'381'482.7 3'202'601.2 2'601'268.7 2'603'790.1 2'513'918.8
Gross profit 202'978.8 88'205.4 75'366.2 107'484.2 40'522.0
Other operating
expenses 42'045.2 47'366.8 41'423.3 54'112.8 20'375.9
Operating result 160'933.6 40'838.6 33'942.9 53'371.4 20'146.1
Interest revenues 4.2 24.2 3'843.5 9'446.7 2'361.1
other financial
revenues 8'470.8 0.0 0.0 0.0 0.0
Financial income 8'475.0 24.2 3'843.5 9'446.7 2'361.1
Interest expenses 3'163.5 3'208.5 4'559.0 10'280.9 3'386.0
other financial
expenses 4'685.7 2'860.4 15'549.1 7'482.0 14'802.4
Financial expenses 7'849.2 6'068.9 20'108.1 17'762.9 18'188.4
Financial result 625.8 -6'044.7 -16'264.6 -8'316.2 -15'827.3
Result before
extraordinary items 161'559.4 34'793.9 17'678.3 45'055.2 4'318.8
Result before
taxes 161'559.4 34'793.9 17'678.3 45'055.2 4'318.8
Taxes 14'654.0 3'047.2 3'115.3 4'080.9 412.8
Result before
minority interests 146'905.4 31'746.7 14'563.0 40'974.3 3'906.0
Result for the
financial year 146'905.4 31'746.7 14'563.0 40'974.3 3'906.0
Cash flow
Depreciation 1'092.5 869.3 117.8 90.4 162.2
Cash flow 147'997.9 32'616.0 14'680.8 41'064.7 4'068.2
Notes
Material costs 3'381'482.7 3'202'601.2 2'601'268.7 2'603'790.1 2'513'918.8
Cost of employees 16'940.9 6'650.4 10'613.7 8'940.6 7'576.6
Added value 182'756.3 45'522.1 32'968.8 64'367.1 15'443.6
Working Capital 172'053.6 87'203.9 201'903.5 370'884.6 262'013.0
Name: Siberian Coal Energy
Company Open Joint-Stock Company
City/Country: Moscow, Russia/RU
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: Siberian Coal Energy
Company Open Joint-Stock Company
City/Country: Moscow, Russia/RU
Interest: 100.00% voting right,
100.00% capital interest (since 2004)
Class: 100%
Name: SUEK Logistic GmbH
City/Country: St. Gallen/SG, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest (since 2008)
Class: 100%
Name: SUEK Polska Spzoo
City/Country: Gdansk, Poland/PL
Interest: 100.00% voting right,
100.00% capital interest
Control date Year No. Amount CHF Status
26.09.2012 2012 0
26.09.2012 2011 0
26.09.2012 2010 0
21.11.2007 2007 0
21.11.2007 2006 0
21.11.2007 2005 0
21.11.2007 2004 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
Situation: The financial situation
is good.
Payment
experiences: Financial obligations are
paid promptly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.04 |
|
UK Pound |
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.