MIRA INFORM REPORT

 

 

Report Date :

13.11.2013

 

IDENTIFICATION DETAILS

 

Name :

SOPETRA SA

 

 

Registered Office :

Route de la Glâne 107, 1752 Villars-sur-Glâne/FR

 

 

Country :

Switzerland

 

 

Date of Incorporation :

28.02.1992

 

 

Com. Reg. No.:

217.0.137.311-8 / 292982

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

·         Wholesale of solid, liquid and gaseous fuels and related products

·         Purchase, sale and brokerage of petroleum products.

 

 

No. of Employees :

5

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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

 

Company name and address

 

SOPETRA SA

 

Operating address:

Route de la Glâne 107

1752 Villars-sur-Glâne/FR

Switzerland/CH

 

Telephone:        026 4097200

Fax:                  026 4097209

 

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

 

VAT-No.:           CHE107390323

 

 

Profile

 

Established:                  1992

Line of Business:           Consumer goods wholesale

Industry Division:            Wholesale trade

Industry-code (NACE):    4671     Wholesale of solid, liquid and gaseous fuels and related products

Banks:                          BCG Banque Cantonale de Genève

 

 

Operational Figures

 

Coverage:                      Company

Figures:                        approximately

Employees:                   5

 

 

Activity

 

The business activities includes the purchase, sale and brokerage of petroleum products.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:                217.0.137.311-8 / 292982

Legal form:                    Company limited by shares

Registration:                  28.02.1992

Legal status:                 active

Responsible Register:    Handelsregister des Saane-Bezirkes (FR)

History:                         Date of Statutes: 19.12.1997

                                    Date of Statutes: 16.11.1995

                                    Date of Incorporation Statutes: 26.02.1992

                                    Date of Statutes: 21.09.2012

                                    Date of Statutes: 23.12.2011

                                    Date of Statutes: 20.12.2001

                                    Date of Statutes: 02.05.2001

                                    Date of Statutes: 22.03.2000

 

Entry                Deleted            Name

active                                        Sopetra SA

 

Entry                Deleted            Legal domicile

active                                        Villars-sur-Glâne, Switzerland

 

Entry                Deleted            Address

18.06.2001                                Route de la Glâne 107, 1752 Villars-sur-Glâne, Switzerland/CH

                        18.06.2001        c/o Chemlube SA, Boulevard de Pérolles 91, 1700 Fribourg/FR, Switzerland/CH

 

Entry                Deleted            Capital

25.09.2012                                Share Capital CHF 1,200,000, paidup CHF 1,200,000

21.02.2002        29.12.2011        Share Capital CHF 250,000, paidup CHF 250,000

 

Entry                Deleted            Capital Structure

25.09.2012                                2,400 Registered shares of CHF 500.--

29.12.2011        25.09.2012        2,400 Bearer shares of CHF 500.--

21.02.2002        29.12.2011        500 Bearer shares of CHF 500.--

 

Entry                Deleted            Activity (original Language)

25.09.2012                                Conseil, assistance et gestion en matière de ressources pétrolières, achat, vente et courtage de tous produits pétroliers, ainsi que de tous produits dérivés (cf. statuts pour but complet).

 

Entry                Deleted            Remarks (original Language)

active                                        Note: Selon procès-verbal authentique de l'assemblée générale, et contrat de fusion du 19.12.1997, la société reprend selon bilan au 31.10.1997, conformément à l'art. 748 CO, les actifs et passifs de la société Chemlube Blending SA, à Fribourg; actifs: CHF 3'282'257.16, passifs: CHF 2'654'823.35, soit un actif net de CHF 627'433.81. La société reprenante détient toutes les actions de la société reprise.

active                                        Capital: CHF 100'00.-- libéré par compensation de créance.

active                                        Publishing authority: FOSC.

25.09.2012                                Shares: Restriction de transmissibilité des actions selon statuts.

25.09.2012                                Reports: Communication aux actionnaires: lettre, télécopie ou e-mail.

29.12.2011                                Capital: CHF 950'000.-- libéré par compensation de créance.

21.02.2002                                Contribution in kind/Asset takeover: Selon procès-verbal authentique de l'assemblée générale extraordinaire du 20.12.2001 et contrat de fusion du 20.12.2001, la société reprend, selon bilan au 01.11.2001 et conformément à l'art. 748 CO par analogie, les actifs et passifs de la société CHEMLUBE SÀRL, à Villars-sur-Glâne; actifs: CHF 864'292.10, passifs: CHF 608'297.51, soit un actif net de CHF 255'994.59, en contrepartie il est remis 200 actions de CHF 500.-- à l'associé de CHEMLUBE SÀRL.

 

 

Official Administration

 

Title                                         Name

President, Chief Executive          Christian Raoul Ray, Origin: Villars-Burquin, Switzerland, Residential address: Marly, Switzerland, single signature, Registered since: 04.10.2013 DirectorThomas Kevin Reilly, Origin: United States of America, Residential address: Connecticut , United States of America, single signature, Registered since: 25.09.2012

 

 

Management

 

Title                  Name

Director             Alex Stahnke Ulrich, Origin: Marly, Switzerland, Residential address: Torny, Switzerland, joint signature of two, Registered since: 04.10.2013

 

 

External Positions

 

Title                  Name

Auditor              BfB Société Fiduciaire Bourquin Frères et Béran SA, Residential address: Fribourg , Switzerland, Id: CH-217-0190390-0, Registered since: 21.02.2002

 

 

Ultimate Parent Company

 

Name:               CHEMLUBE INTERNATIONAL INC.

City/Country:     Harrison/New York, United States of America/US

 

 

Owner/-s

 

No. of Owner/-s: 1

Owner:                          The company is foreign owned.

 

Class:                           100%

Type:                            direct, Group-Level 1

Name:                           CHEMLUBE INTERNATIONAL INC.

City/Country:                 Harrison/New York, United States of America/US

Interest:                        100,00% voting right, 100,00% capital interest

 

Chemlube International LLC is one of the leading independent companies engaged in the global trading and distribution of base oils. They are also a blender and distributor of high quality finished lubricants from their U.S. blending and terminal facilities.

 

 

Sisters

 

Name:               CLP Petrochemicals AG

City/Country:     Avry-sur-Matran/FR, Switzerland/CH

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

Control date       Year     No.       Amount CHF     Status

17.07.2009        2009     0

17.07.2009        2008     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.

 

 

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:    There are no objections regarding the payment of financial obligations.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.59

UK Pound

1

Rs.101.56

Euro

1

Rs.85.15

 

 

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%)

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.