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Report Date : |
25.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SILCO SA |
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Registered Office : |
Rue Pierre-Fatio 15, 1204 Genève/GE,
Switzerland/CH |
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Country : |
Switzerland |
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Date of Incorporation : |
14.05.1998 |
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Com. Reg. No.: |
660.0.944.998-0 / 428285 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The company procures and sells textile, plastic raw materials and
sources automotive part and components. |
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No. of Employees : |
11 |
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 – 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 |
SILCO SA
Operating address:
Rue Pierre-Fatio 15
1204 Genève/GE
Switzerland/CH
Telephone: 022
7074860
Fax: 022
7074879
Web site: http://www.silcotex.com
E-mail: naciman@silco.ch
VAT-No.: CHE104526170
Established: 1998
Line of Business: Trade brokers
Industry Division: Wholesale trade
Industry-code (NACE): 4616 Agents involved
in the sale of textiles, clothing, fur, footwear and leather goods
4614 Agents involved in the sale of machinery,
industrial equipment, ships and aircraft
4618 Agents specialised in the sale of other
particular products
Import/Export: Import, export agency
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 11
Sales: CHF
500,000,000.--
The company procures and sells textile, plastic raw materials and
sources automotive part and components. Headquartered in Switzerland,the
textile arm of Silco has branches and companies in its main markets Turkey,
Morocco and Algeria.
Information on property ownership was not available.
Company No: 660.0.944.998-0
/ 428285
Legal form: Company
limited by shares
Registration: 14.05.1998
Legal status: active
Responsible Register: Registre du commerce du canton de Genève
History: Date
of Incorporation Statutes: 11.05.1998
Entry Deleted Name
14.05.1998 SILCO
SA
Entry Deleted Legal domicile
14.05.1998 Genève,
Switzerland
Entry Deleted Address
02.12.2002 Rue
Pierre-Fatio 15, 1200 Genève/GE, Switzerland/CH
14.05.1998 02.12.2002 boulevard Helvétique 36, 1200 Genève/GE,
Switzerland/CH
Entry Deleted Capital
14.05.1998 Share
Capital CHF 1,400,000, paidup CHF 1,400,000
Entry Deleted Capital Structure
14.05.1998 1,400
Bearer shares of CHF 1,000.--
Entry Deleted Activity (original Language)
14.05.1998 Négoce
international; représentation, agence et courtage; participations à des entreprises et financement d'entreprises;
transactions fiduciaires.
Entry Deleted Remarks (original Language)
14.05.1998 Publishing
authority: FOSC.
Title Name
President,
Chief Executive Claude Nahum,
Origin: Genève, Switzerland, Residential address: Founex, Switzerland, joint
signature of two
Director Nissim
Acimann, Origin: Lausanne, Switzerland, Residential address: Cologny,
Switzerland, joint signature of two
Director Michel A.
Halperin, Origin: Genève, Switzerland, Residential address: Cologny,
Switzerland, joint signature of two
Director Aksel
Kahmi, Origin: Genève, Switzerland, Residential address: Genève/GE,
Switzerland, joint signature of two
Director Inan
Kiraç, Origin: Turkey, Residential address: Istanbul, Turkey, joint signature
of two
Director Ipek
Kiraç, Origin: Turkey, Residential address: Istanbul, Turkey, joint signature
of two, Registered since: 09.02.2012
Title Name
Member
with procuration Leyla
Elçi-Yigitbasi, Origin: Versoix, Switzerland, Residential address: Cologny,
Switzerland, joint power of attorney of two, Registered since: 19.12.2012
Member
with procuration Sinangil
Hacer Tunçelli , Origin: Pully, Switzerland, Residential address: Pully,
Switzerland, joint power of attorney of two, Registered since: 19.12.2012
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Genève, Switzerland, Registered since: 12.03.2002
Name: SILCOLUX
S.A.
City/Country: Luxembourg, Luxembourg/LU
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Type: direct,
Group-Level 1
Name: SILCOLUX
S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: NITORA
Handels GmbH
City/Country: Wien, Austria/AT
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: SILCO
POLYMERS SA
City/Country: Genève/GE, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Control date Year No. Amount CHF Status
16.07.2013 2013 0
16.07.2013 2012 0
16.07.2013 2011 0
16.07.2013 2010 0
08.08.2008 2008 0
08.08.2008 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.
Other addresses:
Silco S.A Liaison Bursa Ofis
Buttim Plaza 24.Kat No:1683
16250 Bursa - Turkiye
Tel: +90 224 211 30 26 - 27 - 28
Fax: +90 224 211 20 84
cemalf@silcotex.com
Silco S.A Liaison İstanbul Ofis
Keresteciler Sitesi,Mehmet Akif Cad.
Taflan Sok.Uras İş Merkezi No:2 Daire:8
Merter - Istanbul Turkiye 34169
Tel: +90 (212) 644 67 87
Fax: +90 (212) 644 67 84
zekiv@silcotex.com
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
appears to be good.
Payment
experiences: Payments are made with arranged
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
|
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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.