|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VALCAMBI SA |
|
|
|
|
Registered Office : |
Via Passeggiata 3, 6828 Balerna/TI |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.05.1961 |
|
|
|
|
Com. Reg. No.: |
524.3.000.427-6 / 199524 |
|
|
|
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Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Subject offers a complete range of services, from refining through to
the manufacture of cast and minted bars, assaying, the development of specialist
semi-finished products for the watch industry, as well as designing and
manufacturing of coins, medals, blanks and complex alloys. |
|
|
|
|
No. of Employees : |
230 (approximately) |
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 |
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|
|
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Litigation : |
--- |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
Valcambi SA
Via Passeggiata 3
6828 Balerna/TI
Switzerland/CH
Telephone: 091
6955311
Fax: 091
6955353
091
6955354
Web
site: http://www.valcambi.com
E-mail: info@valcambi.com
VAT-No.: CHE102067731
Established: 1961
Line
of Business: Metal/steel
Industry
Division: Manufacturing
Industry-code (NACE): 2599 Manufacture of other fabricated metal
products n.e.c.
Import/Export: Export
Export
sales: 25,0%
Quality
certification: ISO 9001
ISO 14001
Banks: CS Credit Suisse
Coverage: Company
Figures: approximately
Employees: 230
Sales: CHF 100-200 Mio
The business activities includes a complete range of services, from
refining through to the manufacture of cast and minted bars, assaying, the development
of specialist semi-finished products for the watch industry, as well as design
and manufacture of coins, medals, blanks and complex alloys.
Information on property ownership was not available.
Company
No: 524.3.000.427-6 /
199524
Legal
form: Company limited
by shares
Registration: 15.05.1961
Legal
status: active
Responsible
Register: Registro di commercio del
Cantone Ticino
History: Date of Statutes:
14.12.1981
Date of
Statutes: 05.06.1985
Date of
Statutes: 19.05.1995
Date of
Statutes: 07.05.1993
Date of
Statutes: 17.12.1980
Date of
Statutes: 23.12.1968
Date of
Incorporation Statutes: 10.05.1961
Date of
Statutes: 25.05.2004
Entry Deleted Name
active Valcambi
SA
Entry Deleted Legal domicile
active Balerna,
Switzerland
Entry Deleted Address
active 6828
Balerna/TI, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 12,000,000, paidup CHF 12,000,000
Entry Deleted Capital Structure
26.05.2004 12,000
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
active La
lavorazione, specialmente nell'affinaggio e nel commercio di metalli preziosi,
nella produzione e nel commercio di casse e cinturini d'oro per orologi, di
oreficeria in genere, di lingotti, di monete e medaglie e di altri prodotti,
particolarmente di metalli preziosi. La società pụ anche sviluppare ogni
genere di affari commerciali e finanziari per proprio conto o per conto di
terzi. Essa é autorizzata ad acquistare, vendere od ipotecare proprietà immobiliari.
Entry Deleted Remarks (original Language)
active Note:
Statuti modificati su punti non soggetti a pubblicazione, nuovo diritto.
active Publishing
authority: FUSC.
26.05.2004 Note:
Statuti modificati anche su punti non soggetti a pubblicazione.
26.05.2004 Shares:
La trasferibilità delle azioni nominative è limitata dallo statuto.
Title Name
Director Carlo
Camponovo, Origin: Chiasso, Switzerland, Residential address: 6924 Sorengo/TI, Switzerland,
joint signature of two, Registered since: 28.07.2009
Director David
Robert Faley, Origin: United States of America, Residential address: Greenwood
Village, United States of America, joint signature of two, Registered since:
03.02.2012
Director Thomas P.
Mahoney, Origin: United States of America, Residential address: Denver, United
States of America, joint signature of two, Registered since: 23.07.2008
Director Luciano
Martelli, Origin: Balerna, Switzerland, Residential address: Balerna, Switzerland,
joint signature of two, Registered since: 22.12.2003
Director Micheal
Mesaric, Origin: Muri AG, Switzerland, Residential address: Wollerau,
Switzerland, joint signature of two, Registered since: 08.06.1999
Director Andrew
Michael Strelein, Origin: Australia, Residential address: East Perth,
Australia, joint signature of two, Registered since: 03.02.2012
Title Name
Director Micheal
Mesaric, Origin: Muri AG, Switzerland, Residential address: Wollerau,
Switzerland, joint signature of two, Registered since: 08.06.1999
Member
with procuration Massimo
Blattner, Origin: Ermatingen, Switzerland, Residential address: Balerna/TI,
Switzerland, born: 10.02.1962, joint power of attorney of two, Registered
since: 13.11.2000
Member
with procuration Fernanda
Caratsch, Origin: Müstair, Switzerland, Residential address: Pregassona/TI,
Switzerland, born: 08.09.1962, joint power of attorney of two, Registered
since: 25.04.2008
Member
with procuration Oris Corti,
Origin: Novazzano, Switzerland, Residential address: Coldrerio, Switzerland,
born: 07.07.1959, joint power of attorney of two, Registered since: 13.11.2000
Member
with procuration Andrea
D'Alessandro, Origin: Grindelwald, Switzerland, Residential address: 6850
Mendrisio/TI, Switzerland, born: 06.01.1960, joint power of attorney of two,
Registered since: 23.04.2009
Member
with procuration Brigitte De
Feudis-Brot, Origin: Cazis, Switzerland, Residential address: 6883
Novazzano/TI, Switzerland, born: 12.02.1961, joint power of attorney of two,
Registered since: 16.06.2010
Member
with procuration Ursula
Giofré, Origin: Italy, Residential address: Como , Italy, joint power of
attorney of two, Registered since: 16.06.2010
Member
with procuration Elisabetta
Lavezzini, Origin: Italy, Residential address: Como , Italy, joint power of
attorney of two, Registered since: 16.06.2010
Member
with procuration Norberto
Molteni, Origin: Italy, Residential address: Lambrugo, Italy, joint power of
attorney of two, Registered since: 04.06.2012
Title Name
Auditor KPMG SA,
Residential address: Lugano, Switzerland, Id: CH-514.9.009.123-5, Registered
since: 17.06.1998
Title Name
Chief
Executive Officer Micheal
Mesaric
Chief
Financial Officer Fernanda
Caratsch
Chief
Sales Officer Ursula
Giofré
Chief
Production Officer Norberto
Molteni
Chief
Business Segment Officer Oris Corti
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: mil.
USD mil. USD mil. USD mil. USD
Balance Sheet
Intangible fixed
assets 324.0 335.0 279.0 0.0
Land and buildings 3,142.0 1,998.0
Other tangible
fixed assets 14,868.0 13,883.0
Tangible fixed
assets 18,010.0 15,881.0 12,907.0 12,370.0
Financial fixed
assets 1,446.0 1,472.0 1,731.0 1,186.0
other fixed assets 3,925.0 3,035.0 3,493.0 2,921.0
Fixed assets 23,705.0 20,723.0 18,410.0 16,477.0
Stocks 796.0 714.0 658.0 493.0
Trade accounts
receivable 860.0 620.0
Liquid assets 1,561.0 1,760.0 4,056.0 3,215.0
Securities 86.0 94.0
other trade
accounts 2,429.0 2,107.0
Accruals 213.0 93.0
Other current
assets 4,289.0 4,054.0
Current assets 5,945.0 5,388.0 7,253.0 5,822.0
Total assets 29,650.0 26,111.0 25,663.0 22,299.0
Capital 9,117.0 9,192.0
Other shareholders
funds 4,656.0 3,704.0
Total shareholders
equity 13,773.0 12,896.0 13,345.0 10,703.0
Minority interests 3,175.0 2,875.0 2,371.0 1,910.0
long term debt
(financial debts) 6,288.0 3,624.0 2,770.0 3,300.0
Provisions 252.0 381.0
Other non current
liabilities 3,273.0 2,776.0 4,178.0 3,685.0
Non current
liabilities 9,561.0 6,400.0 7,200.0 7,366.0
Trade accounts
payable 10.0 689.0
Accruals 508.0 479.0
other accounts
payable 2,623.0 2,772.0
other current
liabilities 3,131.0 3,251.0
Current
liabilities 3,141.0 3,940.0 2,747.0 2,320.0
Shareh. equity,
min. interests + liabilities 29,650.0 26,111.0 25,663.0 22,299.0
Profit and loss
account
Sales 9,868.0 10,358.0
Net sales 9,868.0 10,358.0 9,540.0 7,705.0
Other operating
revenue 264.0 138.0
Operating revenue 10,132.0 10,496.0
Cost of goods sold 4,238.0 3,890.0
Gross profit 5,894.0 6,606.0
Other operating
expenses 2,545.0 4,443.0
Operating result 3,349.0 2,163.0 4,336.0 3,040.0
Interest revenues 12.0 11.0
other financial
revenues 2.0 75.0
Financial income 14.0 86.0
Interest expenses 249.0 244.0
other financial
expenses 264.0 640.0
Financial expenses 513.0 884.0
Financial result -499.0 -798.0
Result before
extraordinary items 2,850.0 1,365.0
Extraordinary
expenses 76.0 136.0
Extraordinary Result -76.0 -136.0
Result before
taxes 2,774.0 1,229.0
Taxes 869.0 713.0
Result before
minority interests 1,905.0 516.0
minority interests 310.0 606.0
Result for the
financial year 1,595.0 -90.0 2,277.0 1,297.0
Cash flow
Cash flow 328,609.0 138,818.0
Cash flow from
operating activities 2,372.0 3,584.0
Investments in
tangible fixed assets 3,210.0 2,787.0
Cash flow from
investing activities -3,264.0 -5,067.0
Cash flow from
financing activities 689.0 -854.0
Others 4.0 41.0
Change in
liquidity -199.0 -2,296.0
Liquidity at
beginning of the year 1,760.0 4,056.0
Liquidity at end
ot the year 1,561.0 1,760.0
Notes
Cost of employees 249.0 244.0
Added value 329,976.0 140,019.0
Working Capital 1,646.0 645.0
Sales per Employee 0.6
Gross cost land
and buildings 3,142.0 1,998.0
Gross cost other
tangible fixed assets 24,587.0 22,585.0
Gross cost total 27,729.0 24,583.0
Employees at year end 16,400
Name: Newmont Mining
Corporation
City/Country: Greenwood Village/Colorado, United
States of America/US
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct
Name: European Gold
Refineries Holding SA
City/Country: Balerna/TI, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 01.12.2003)
Class: 50-100%
Type: indirect,
Group-Level 1
Name: Newmont Mining
Corporation
City/Country: Greenwood Village/Colorado,
United States of America/US
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
25.02.2013 2013 0
25.02.2013 2012 0
25.02.2013 2011 3 94,404.-- Legal actions
25.02.2013 2010 0
25.02.2013 2009 0
25.02.2013 2008 0
10.02.2009 2007 0
10.02.2009 2006 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 good.
Payment
experiences: Financial obligations are
met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
UK Pound |
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.