|
Report Date : |
29.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MRI TRADING AG |
|
|
|
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Registered Office : |
Baarerstrasse 53, Postfach 4362, 6304 Zug/ZG |
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|
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Country : |
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|
|
|
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Financials (as on) : |
31.12.2012 (CWT Limited– Ultimate Parent Company) |
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Date of Incorporation : |
06.12.2002 |
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|
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Com. Reg. No.: |
170.3.025.981-2 / 692785 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Agents involved in the sale of fuels,
ores, metals and industrial chemicals |
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|
|
No. of Employees : |
70 |
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 |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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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 began to recover in 2010. 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 below 2% per year during 2011-13. 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 |
MRI TRADING AG
Operating
address:
Baarerstrasse 53
Postfach 4362
6304 Zug/ZG
Switzerland/CH
Telephone: 041
7272800
Fax: 041
7272899
Web
site: http://www.mritrading.ch
E-mail: info@mri-group.com
VAT-No.: CHE109861960
Established: 2002
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: unknown
Coverage: Company
Figures: estimated
Employees: 70
The business activities includes trading in
commodities, metals and minerals, petroleum products
MRI is a leader in commodity trading, metals
and minerals, petroleum products, bulk and freight. The Group is specialised in
non-ferrous ores, concentrates, refined and precious metals and their related
byproducts for a global smelting and processing customer base, along with bulk
coal and iron ore servicing the power and steel sectors and the recent addition
of petroleum products integrating with the group’s strength in the mining
sector and considerable expertise in stock management in Europe and emerging
markets .
Information on property ownership was not
available.
Company
No: 170.3.025.981-2 /
692785
Legal
form: Company limited
by shares
Registration: 06.12.2002
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date of Statutes:
17.10.2013
Date of
Statutes: 27.06.2011
Date of Statutes:
02.05.2011
Date of
Statutes: 25.06.2003
Date of
Statutes: 04.12.2002
Date of
Incorporation Statutes: 25.11.2002
Entry Deleted Name
28.06.2011 MRI
Trading AG
06.12.2002 28.06.2011 Astor Partners AG
Entry Deleted Legal domicile
06.12.2002 Zug,
Switzerland
Entry Deleted Address
28.06.2011 Baarerstrasse
53, 6300 Zug/ZG, Switzerland/CH
07.09.2010 28.06.2011 c/o RA Peter M. Studer, Baarerstrasse 2, 6300
Zug/ZG, Switzerland/CH
06.12.2002 07.09.2010 Bahnhofstrasse 21, 6300 Zug, Switzerland/CH
Entry Deleted Capital
04.05.2011 Share
Capital CHF 1,159,330, paidup CHF 1,159,330
26.06.2003 04.05.2011 Share Capital CHF 578,000, paidup CHF 578,000
Entry Deleted Capital Structure
04.05.2011 115,933
Registered shares of CHF 10.--
26.06.2003 04.05.2011 57,800 Registered shares with restricted
transferability of CHF 10.--
Entry Deleted Activity (original Language)
28.10.2013 Handel
mit Waren aller Art; vollständige Zweckumschreibung gemäss Statuten.
06.12.2002 28.10.2013 Handel mit Waren aller Art; kann sich an
Unternehmen beteiligen sowie Grundstücke erwerben, überbauen, belasten und
veräussern.
Entry Deleted Remarks (original Language)
28.06.2011 Merger:
Übernahme der Aktiven und Passiven der Marc Rich + Co Investment AG, in Zug
(CH-170.3.004.053-8), gemäss Fusionsvertrag vom 27.06.2011 und Bilanz per
31.12.2010. Aktiven von CHF 588'839'288.00 und Passiven (Fremdkapital) von CHF
526'985'318.00 gehen auf die übernehmende Gesellschaft über. Da die
übernehmende Gesellschaft sämtliche Aktien der übertragenden Gesellschaft hält,
findet weder eine Kapitalerhöhung noch eine Aktienzuteilung statt.
04.05.2011 Merger:
Übernahme der Aktiven und Passiven der FinInvCo AG, in Zug
(CH-170.3.026.033-7), gemäss Fusionsvertrag vom 02.05.2011 und Bilanz per
30.12.2010. Aktiven von CHF 3'225'582.55 und Passiven (Fremdkapital) von CHF
14'998.80 gehen auf die übernehmende Gesellschaft über. Die Aktionäre der
übertragenden Gesellschaft erhalten 58'133 Aktien zu CHF 10.00. Das
Aktienkapital wird infolge Fusion um CHF 581'330.00 erhöht.
04.05.2011 Reports:
Die Mitteilungen an die Aktionäre erfolgen durch Publikation im SHAB oder,
sofern die Namen und Adressen sämtlicher Aktionäre bekannt sind, durch
eingeschriebenen Brief oder auf telegraphischem Weg (einschliesslich
Fernschreiben, Telefax oder elektronische Datenübertragung).
26.06.2003 Intended
asset takeover: Das gesamte Aktienkapital der "Marc Rich + Co Investment
AG", in Zug, bestehend aus 100'000 Namenaktien zu CHF 10.00, zum Preis von
USD 1'166'667.00.
06.12.2002 Publishing
authority: SHAB.
Title Name
President Adam Slater,
Origin: Canada, Residential address: Singapur , Singapore, joint signature of
two, Registered since: 19.07.2011
Director Lye Siew
Hong, Origin: Singapore, Residential address: Singapur , Singapore, joint
signature of two, Registered since: 19.07.2011
Director Yen Loi
Pok, Origin: Singapore, Residential address: Singapur , Singapore, joint
signature of two, Registered since: 19.07.2011
Title Name
Member
with signing authority Kuek Chye
Soon Alan, Origin: Malaysia, Residential address: Singapur , Singapore, joint
signature of two, Registered since: 05.07.2013
Member
with signing authority Verena (Vreni)
Feierabend, Origin: Engelberg, Switzerland, Residential address: Zug,
Switzerland, joint signature of two, Registered since: 06.05.2013
Member
with signing authority Axel Krüger,
Origin: Belgium, Residential address: Hünenberg, Germany, joint signature of
two, Registered since: 05.07.2013
Member
with signing authority Maria
Theresia (Marie-Therese) Meyer, Origin: Huttwil, Switzerland, Residential
address: Sempach, Switzerland, joint signature of two, Registered since:
27.07.2011
Member
with signing authority Iain
Paterson, Origin: United Kingdom, Residential address: Zug, Switzerland, joint
signature of two, Registered since: 25.01.2013
Member
with signing authority Rohit Saxena,
Origin: India, Residential address: Menzingen, Switzerland, joint signature of
two, Registered since: 03.05.2012
Member
with signing authority Bikram Partap
Singh, Origin: India, Residential address: Baar, Switzerland, joint signature
of two, Registered since: 28.09.2012
Member
with signing authority Tristan-Pierre
Zaniewicki, Origin: France, Residential address: Zug, Switzerland, joint
signature of two, Registered since: 16.07.2013
Title Name
Auditor KPMG AG,
Residential address: Zug, Switzerland, Id: CH-170.9.000.370-3, Registered
since: 06.01.2012
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12
Currency: th.
SGD th. SGD th. SGD th. SGD
Intangible fixed
assets 130,508.0 139,555.0 49,947.0 45,940.0
Tangible fixed
assets 314,071.0 308,226.0 217,446.0 183,544.0
Financial fixed
assets 167,000.0 140,192.0 132,069.0 50,243.0
other fixed assets 12,887.0 10,714.0 2,716.0 2,167.0
Fixed assets 624,466.0 598,687.0 402,178.0 281,894.0
Stocks 338,095.0 170,334.0 2,566.0 1,532.0
Liquid assets 294,707.0 211,982.0 202,865.0 90,456.0
Current assets 1,590,437.0 1,005,164.0 351,969.0 393,853.0
Total assets 2,214,903.0 1,603,851.0 754,147.0 675,747.0
Total shareholders
equity 615,367.0 476,170.0 428,289.0 291,953.0
Minority interests 0.0 33,030.0 20,698.0 17,551.0
long term debt
(financial debts) 83,627.0 79,322.0 1,961.0 12,689.0
Provisions 11,338.0 11,802.0 0.0 0.0
Other non current
liabilities 150,310.0 187,456.0 107,224.0 45,488.0
Non current
liabilities 245,275.0 278,580.0 109,185.0 58,177.0
Current
liabilities 1,354,261.0 816,071.0 195,975.0 308,066.0
Shareh. equity,
min. interests + liabilities 2,214,903.0 1,603,851.0 754,147.0 675,747.0
Net sales 5,397,046.0 2,579,696.0 747,181.0 623,929.0
Operating result 124,842.0 63,376.0 187,115.0 42,717.0
Result for the
financial year 107,920.0 57,145.0 178,967.0 33,945.0
Name: CWT LIMITED
City/Country: SINGAPORE, Singapore/SG
Owner: The company is foreign
owned.
Class: 100%
Type: direct, Group-Level
2
Name: CAPSOLON PTE. LTD.
City/Country: Singapore, Singapore/SG
Interest: 100,00% voting right,
100,00% capital interest (since 01.07.2011)
Class: 50-100%
Type: indirect,
Group-Level 1
Name: CWT LIMITED
City/Country: SINGAPORE, Singapore/SG
Interest: 96,60% voting right,
96,60% capital interest (since 01.07.2011)
Name: MRI Trading Pte. Ltd.
City/Country: Singapore, Singapore/SG
Class: 100%
Name: L N METALS
INTERNATIONAL LIMITED
City/Country: London, United Kingdom/GB
Interest: 100,00% voting right,
100,00% capital interest (since 18.09.2012)
Class: 100%
Name: MRI China Co. Ltd.
City/Country: Shanghai, China/CN
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: MRI Metals AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 27.06.2012)
Class: 100%
Name: MRI Resources South
Africa (PTY) Ltd.
City/Country: Sandton, South Africa/ZA
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: MRI Trading Private
Limited
City/Country: Mumbai/Maharashtra, India/IN
Interest: 100,00% voting right,
100,00% capital interest (since 04.04.2012)
Class: 100%
Name: MRI Trading
(Singapore) AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 13.03.2012)
Class: 100%
Name: PREDUZEĆE ZA
TRGOVINU I POSREDOVANJE MG OIL DOO
City/Country: Novi Beograd, Serbia/RS
Interest: 100,00% voting right,
100,00% capital interest (since 31.07.2012)
Control date Year No. Amount CHF Status
09.08.2012 2012 0
09.08.2012 2011 0
09.08.2012 2010 0
09.08.2012 2009 0
28.10.2009 2009 0
28.10.2009 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.
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 very good.
Payment
experiences: Financial obligations are
paid promptly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.78.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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.