MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ECOM AGROINDUSTRIAL CORP. LIMITED

 

 

Registered Office :

Avenue Guillemin 16 P.O. Box 64 1009 Pully/VD Switzerland/CH

 

 

Country :

Switzerland

 

 

Date of Incorporation :

30.09.1999

 

 

Com. Reg. No.:

550.0.062.944-0 / 468488

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

Trading and processing company specializing in coffee, cocoa, and cotton in major producing and consuming countries, with ancillary agricultural operations in oilseeds

 

 

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

 

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 – 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

 

ECOM AGROINDUSTRIAL CORP. LIMITED

 

 

Operating address

 

Avenue Guillemin 16

P.O. Box 64

1009 Pully/VD

Switzerland/CH

 

Telephone:                   021 7217210

Fax:                             021 7217200

 

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

E-mail:                         mail@ecomtrading.com

 

WIN Worldbox No.:       CH0003743464

VAT-No.:                      CHE105249234

 

 

Profile

 

Established:                 1849

Line of Business:          Consumer goods wholesale

Industry Division:          Wholesale trade

Industry-code (NACE):  4637       Wholesale of coffee, tea, cocoa and spices

                                    4676       Wholesale of other intermediate products

Import/Export:              Import, Export

Banks:                          CS Credit Suisse

 

 

Operational Figures

 

Coverage:                    Company

Figures:                        estimated

Employees:                  70

Sales:                          CHF 45,000,000.--

 

 

Activity

 

Ecom is a global commodity trading and processing company specializing in coffee, cocoa, and cotton in major producing and consuming countries, with ancillary agricultural operations in oilseeds. Ecom Group is one of the top three merchants in coffee, one of the largest coffee millers in the world, and amongst the top five merchants in both cotton and cocoa.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:               550.0.062.944-0 / 468488

Legal form:                   Company limited by shares

Registration:                 30.09.1999

Legal status:                 active

Responsible Register:   Registre du commerce du canton de Vaud

History:                        Date of Statutes: 07.05.2013

                                    Date of Statutes: 21.11.2005

                                    Date of Statutes: 09.06.2004

                                    Date of Statutes: 12.12.2000

                                    Date of Incorporation Statutes: 27.09.1999

 

Entry          Deleted      Name

30.09.1999                    ECOM Agroindustrial Corp. Limited

30.09.1999                    ECOM Agroindustrial Corp. AG (Name translated)

30.09.1999                    ECOM Agroindustrial Corp. SA (Name translated)

 

Entry          Deleted      Legal domicile

30.09.1999                    Pully, Switzerland

 

Entry          Deleted      Address

22.08.2000                    Avenue Guillemin 16, 1009 Pully/VD, Switzerland/CH

30.09.1999  22.08.2000  Avenue Guillemin 16, chez Ecom trading S.A., 1009 Pully/VD, Switzerland/CH

 

Entry          Deleted      Capital

27.06.2013                    Share Capital CHF 227,686,095, paidup CHF 227,686,095

23.11.2005  27.06.2013  Share Capital CHF 208,503,750, paidup CHF 208,503,750

 

Entry          Deleted      Capital Structure

27.06.2013                    1,167,621 Registered shares with restricted transferability of CHF 195.--

23.11.2005  27.06.2013  1,069,250 Registered shares of CHF 195.--

 

Official Administration

 

Title                                           Name

President                                    Ramon Maria Esteve, Origin: Spain, Residential address: Paudex, Switzerland, joint signature of two

Vice-President                            Joes Eduardo Esteve Recolons, Origin: Mexico, Residential address: Mexico, Mexico, joint signature of two

Vice-President                            Jorge Esteve Recolons, Origin: Mexico, Residential address: Mexico, Mexico, joint signature of two

Company Secretary                     Sonja Berberat, Origin: Lajoux (JU), Switzerland, Residential address: Mont-sur-Lausanne, Switzerland, joint signature of two

Director                                      Christian Bless , Origin: Flums, Switzerland, Residential address: Montilliez, France, joint signature of two, Registered since: 23.08.2011

Director                                      Paulo Rabello de Castro, Origin: Brazil, Residential address: Rio de Janeiro, Brazil, joint signature of two, Registered since: 23.08.2011

Director                                      Roberto Salvo Horvilleur, Origin: Nicaragua, Residential address: Managua, Nicaragua, joint signature of two, Registered since: 20.07.2009

 

 

Management

 

Title                                           Name

General Director                          Andrew Halle, Origin: United Kingdom, Residential address: Dallas, United States of America, joint signature of two

Deputy General Director              Mark Dendle , Origin: United States of America, Residential address: Dallas , United States of America, joint signature of two, Registered since: 23.08.2011

Deputy General Director              Antonio Esteve , Origin: United States of America, Residential address: Sao Paulo, Brazil, joint signature of two, Registered since: 06.10.2011

Deputy General Director              Edward Esteve Creixell, Origin: Mexico, Residential address: Mexico , Mexico, joint signature of two, Registered since: 23.08.2011

Director                                      Sonja Berberat, Origin: Lajoux (JU), Switzerland, Residential address: Mont-sur-Lausanne, Switzerland, joint signature of two

Director                                      Alain Poncelet, Origin: Belgium, Residential address: Lutry, Switzerland, joint signature of two, Registered since: 10.01.2014

Director                                      Oliver Schenkenberg , Origin: Germany, Residential address: 1066 Epalinges/VD, Switzerland, joint signature of two, Registered since: 23.08.2011

Member with procuration             Céline Bezençon , Origin: Goumoëns, Switzerland, Residential address: 1034 Boussens/VD, Switzerland, joint power of attorney of two, Registered since: 23.08.2011

Member with procuration             Rut Mikaela Höglund , Origin: Sweden, Residential address: Epalinges, Switzerland, joint power of attorney of two, Registered since: 23.08.2011

Member with procuration             Alistair Mules , Origin: United Kingdom, Residential address: Montreux, Switzerland, joint power of attorney of two, Registered since: 24.01.2012

Member with procuration             Thomas Quiévy , Origin: Belgium, Residential address: 1200 Genève/GE, Switzerland, joint power of attorney of two, Registered since: 23.08.2011

Member with procuration             Valérie Zwahlen, Origin: Matten bei Interlaken, Switzerland, Residential address: 1131 Tolochenaz/VD, Switzerland, joint power of attorney of two, Registered since: 23.08.2011

 

 

External Positions

 

Title                                           Name

Auditor                                       PricewaterhouseCoopers AG, Residential address: Pully, Switzerland

 

 

Executive board

 

Title                                           Name

Chief Executive Officer               Ramon Maria Esteve (resteve@ecomtrading.com)

 

 

Ultimate Parent Company

 

Name:                          Ecom Group Ltd

City/Country:                Tortola, British Virgin Islands/VG

 

 

Owner/-s

 

No. of Owner/-s:           1

Owner:                         The company is foreign owned.

 

Class:                          100%

Type:                           direct, Group-Level 1

Name:                          Ecom Group Ltd

City/Country:                Tortola, British Virgin Islands/VG

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

 

 

Investments

 

Class:                          100%

Name:                          DUTCH COCOA B.V

City/Country:                Amsterdam, Netherlands/NL

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

 

Class:                          50-100%

Name:                          Almacenadora Del Caribe Limitada

City/Country:                Bogota, Colombia/CO

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

25.05.2009          2009                           0

25.05.2009          2008                           0

25.05.2009          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.

 

 

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 appears to be good.

 

Payment experiences:   Financial obligations are met in an orderly manner.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.