MIRA INFORM REPORT

Report Date :

26.12.2014

IDENTIFICATION DETAILS

Name :	SONVIGO S.A.
Registered Office :	Chemin du Réservoir 4 bis, Case Postale, 1000 Lausanne 12/VD
Country :	Switzerland
Date of Incorporation :	13.06.1994
Com. Reg. No.:	550.0.101.420-6 / 337560
Legal Form :	Company limited by shares
Line of Business :	Engaged as an importer of Textiles Products & Packaging Materials Subject product line are as follows:- Jute Products: Yarns / twines and ropes, All kinds of bags, All kinds of cloth, Raw Jute, Specialties. Packaging Materials: Polyprophylene (PP) woven bage, Polyethylene (PE) bags, PP mesh bags & PE net bags, Jut bags & cotton bags, Mixed PP / cotton bags & mixed PP / jute bags, Jumbo big bags, PE container liners, Tubular & flat fabrics, PP ground cover. Textile & Carpet Industries: Jute yarns / twines, Jute carpet backing cloth, BCF & Heatset yarns, Polyester texturised yarn, Latex (SBR-PVA), Viscose yarn, Spun yarn (Polyester blended), Dref yarn, Primary & Secondary Backing, PP granulates.
No of Employees :	As on 2014:- 08 (Estimated)

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 – 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 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

Sonvigo S.A.

Operating address

Chemin du Réservoir 4 bis

Case Postale

1000 Lausanne 12/VD

Switzerland/CH

Telephone: 021 6513410

Fax: 021 6513411

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

E-mail: sonvigo@sonvigo.com

VAT-No.: CHE107616415

Profile

Established: 1994

Line of Business: Trade brokers

Industry Division: Wholesale trade

Industry-code (NACE): 4611 Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods

4619 Agents involved in the sale of a variety of goods

Banks: unknown

Operational Figures

Coverage: Company

Figures: estimated

Financial year: 2014

Employees: 8

Sales: CHF 10-20 Mio

Activity

Engaged as an importer of Textiles Products & Packaging Materials

The company is active as a trading company with the aim to bring to the buyers the best service at the best price, looking for the solutions to their needs and constantly searching for new ideas.

Jute Products:

The main products are: Yarns / twines and ropes, All kinds of bags, All kinds of cloth, Raw Jute, Specialties.

Source: Bangladesh, India, China, Thailand.

Outlets: Europe, Middle East, Africa, North and South American Continents.

Packaging Materials:

The main products are: Polyprophylene (PP) woven bage, Polyethylene (PE) bags, PP mesh bags & PE net bags, Jut bags & cotton bags, Mixed PP / cotton bags & mixed PP / jute bags, Jumbo big bags, PE container liners, Tubular & flat fabrics, PP ground cover.

Source: Middle East, Indian sub-continent & South East Asia.

Outlets: Europe, Middle East, Africa, North & South American continents.

Textile & Carpet Industries:

The main products are: Jute yarns / twines, Jute carpet backing cloth, BCF & Heatset yarns, Polyester texturised yarn, Latex (SBR-PVA), Viscose yarn, Spun yarn (Polyester blended), Dref yarn, Primary & Secondary Backing, PP granulates.

Sources: Europe, Middle East, South East Asia & Indian sub-continent.

Outlets: Europe, Middle East, USA, North Africa, South Africa, Peru & Chile

Real Estate

Real Estate: The company does not appear to own any property.

Company Register

Company No: 550.0.101.420-6 / 337560

Legal form: Company limited by shares

Registration: 13.06.1994

Legal status: active

Responsible Register: Registre du commerce du canton de Vaud

History: Date of Statutes: 26.07.1996

Date of Incorporation Statutes: 07.06.1994

Date of Statutes: 10.05.2006

Entry Deleted Name

active Sonvigo SA

Entry Deleted Legal domicile

active Lausanne, Switzerland

Entry Deleted Address

active Chemin du Réservoir 4 bis, 1012 Lausanne, Switzerland/CH

Entry Deleted Capital

16.05.2006 Share Capital CHF 255,000, paidup CHF 255,000

Entry Deleted Capital Structure

16.05.2006 2,550 Registered shares of CHF 100.--

Official Administration

Title Name

President Marcel Argi

Citizen: Lausanne, Switzerland

Residential address: Lausanne, Switzerland

single signature

Chief Executive Patrick Argi

Citizen: Lausanne, Switzerland

Residential address: Epalinges, Switzerland

single signature

External Positions

Title Name

Auditor Multifiduciaire Fribourg S.A.

Residential address: Fribourg, Switzerland

Executive board

Title Name

Chief Executive Officer Patrick Argi

Owner/-s

Owner: The company is in family ownership.

Investments

It is believed that the company has no investments.

Legal Actions

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 difficult to assess.

Payment experiences: Unknown

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.46
UK Pound	1	Rs.98.51
Euro	1	Rs.77.31

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	MNL

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.