MIRA INFORM REPORT

 

 

Report Date :

20.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SYNOVA S.A.

 

 

Registered Office :

Chemin de la Dent-d'Oche, 1024 Ecublens/VD

 

 

Country :

Switzerland

 

 

Date of Incorporation :

07.05.1997

 

 

Com. Reg. No.:

550.0.144.000-1/400132

 

 

Legal Form :

Public Company

 

 

Line of Business :

Manufacture of Metal Forming Machinery

 

 

No. of Employees :

75

 

 

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 :

Exist

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 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

Company Name

 

Synova S.A.

 

 

Operating address

 

Chemin de la Dent-d'Oche

1024 Ecublens/VD

Switzerland/CH

 

Telephone:                   021 6943500

Fax:                             021 6943501

Web site:                      http://www.synova.ch

E-mail:                         info@synova.ch

 

WIN Worldbox No.:       CH0003141786

VAT-No.:                      CHE108614117

 

 

Profile

 

Established:                 1997

Line of Business:          Machinery

Industry Division:          Manufacturing

Industry-code (NACE):  2841       Manufacture of metal forming machinery

Import/Export:              Import, Export

Banks:                          unknown

Organisation level:        Ultimate Parent

 

 

Operational Figures

 

Coverage:                    Company

Figures:                        estimated

Financial year:              2014

Employees:                  75

Sales:                          CHF 28,000,000.--

 

 

Activity

 

The business includes the manufacture and sale of machine tools and laser systems, particularly laser cutting systems, inter alia, water jet guided laser for highly sensitive materials. The products are sold to various industries in Europe, Middle East, Asia and North America.

 

 

Real Estate

 

Real Estate:                  The company owns buildings.

Area:                            3,000 m2

 

 

Company Register

 

Company No:               550.0.144.000-1 / 400132

Legal form:                   Company limited by shares

Registration:                 07.05.1997

Legal status:                 active

Responsible Register:   Registre du commerce du canton de Vaud

History:                        Date of Statutes: 22.08.2012

                                    Date of Statutes: 09.05.2012

                                    Date of Statutes: 28.09.2011

                                    Date of Statutes: 26.08.2011

                                    Date of Incorporation Statutes: 02.05.1997

 

Entry          Deleted      Name

07.05.1997                    Synova S.A.

 

Entry          Deleted      Legal domicile

07.05.1997                    Ecublens (VD), Switzerland

 

Entry          Deleted      Address

28.08.2003                    Chemin de la Dent-d'Oche, 1024 Ecublens/VD, Switzerland/CH

07.05.1997  28.08.2003  Parc scientifique EPFL, PSE, 1024 Ecublens/VD, Switzerland/CH

 

Entry          Deleted      Capital

15.05.2012                    Share Capital CHF 144,889, paidup CHF 144,881

10.10.2011  15.05.2012  Share Capital CHF 133,660, paidup CHF 133,660

13.09.2011  10.10.2011  Share Capital CHF 100,000, paidup CHF 100,000

 

Entry          Deleted      Capital Structure

15.05.2012                    1,448,808 Registered shares of CHF 0.10

10.10.2011  15.05.2012  1,336,606 Registered shares of CHF 0.10

13.09.2011  10.10.2011  1,000,000 Registered shares of CHF 0.10

 

 

Official Administration

 

Title                                           Name

President                                    Bernold Richerzhagen

                                                  Citizen: Germany

                                                  Residential address: 1913 Saint-Sulpice/VS, Switzerland

                                                  Born: 18.08.1964

                                                  joint signature of two

                                                  Registered since: 07.05.1997

Director                                      Claude Béglé

                                                  Citizen: Lausanne, Switzerland

                                                  Residential address: Pully, Switzerland

                                                  joint signature of two

                                                  Registered since: 14.12.2012

Director                                      Henricus Dolman

                                                  Citizen: Netherlands

                                                  Residential address:  Amsterdam , Netherlands

                                                  joint signature of two

                                                  Registered since: 02.04.2014

 

 

External Positions

 

Title                                           Name

Auditor                                       MAZARS SA

                                                  Residential address: Fribourg, Switzerland

                                                  Id: CHE-388.216.322

                                                  Registered since: 17.12.2009

 

Owner/-s

 

No. of Owner/-s:           2

Owner:                         The company is privately owned.

 

Class:                          50-100%

Type:                           direct

Name:                          Bernold Richerzhagen

City/Country:                St-Sulpice/VD, Switzerland/CH

 

Class:                          unknown

Type:                           direct

Name:                          Holland Private Equity B.V.

City/Country:                Amsterdam, Netherlands/NL

 

 

Investments

 

Class:                          100%

Name:                          Synova Japan KK

City/Country:                Niigata-ken, Japan/JP

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

 

Class:                          100%

Name:                          Synova Korea Ltd

City/Country:                Kyonggi, Anygang-City, South Korea/KR

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

 

Class:                          100%

Name:                          Synova Taiwan Inc.

City/Country:                Taichung City, Taiwan/TW

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

 

Class:                          100%

Name:                          Synova USA Inc

City/Country:                Fremont/California, United States of America/US

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

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

26.09.2014          2014                           0

31.12.2013          2013                           6                   53,730.--      Legal actions

31.12.2012          2012                           0

31.12.2011          2011                           1                 896,811.--      Legal actions

31.12.2011          2011                           1                                      Closed legal actions

31.12.2010          2010                           2                 124,836.--      Opposition filed

31.12.2009          2009                         20                   19,613.--      Legal actions

31.12.2009          2009                           2                   59,583.--      Legal actions

31.12.2009          2009                           1                     1,067.--      Open legal actions

31.12.2009          2009                         12                                      Closed legal actions

31.12.2009          2009                           6                   53,471.--      Opposition filed

31.12.2009          2009                           1                   19,613.--      Threat of bankruptcy-liquidation

31.12.2008          2008                           0

31.12.2007          2007                           0

31.12.2006          2006                           2                   10,050.--      Opposition filed

31.12.2005          2005                           0

31.12.2004          2004                           3                 262,974.--      Opposition filed

31.12.2003          2003                           1                     2,200.--      Opposition filed

31.12.2002          2002                           0

31.12.2001          2001                           2                 126,091.--      Opposition filed

 

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.

 

 

Remarks

 

Debt collection:

FEB 2001: CHF    121.00, payment after legal demand.

DEZ 2001: CHF    980.00, payment after legal demand.

OKT 2002: CHF  3'203.00, Procedures set by the Creditor.

JUN 2004: CHF    930.00, cancelled by the Creditor.

AUG 2005: CHF  1'526.00, Procedures set by the Creditor.

SEP 2005: CHF    560.00, current collection processes.

OKT 2005: CHF  1'849.00, current collection processes.

NOV 2005: CHF  7'692.00, current collection processes.

MAI 2006: CHF 10'049.00.

APR 2007: CHF    389.00, written off by creditor.

MAR 2010: CHF    337.00, paid.

MAR 2010: CHF     96.00, paid.

 

 

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 difficult to assess.

 

Payment experiences:   Unknown

 

 

Credit Opinion:             Credit to the recommended limit should be acceptable but should be monitored on a regular basis.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.07

UK Pound

1

Rs.98.73

Euro

1

Rs.77.46

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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.