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Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
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Name : |
SANTEX AG |
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Registered Office : |
Fliegeneggstrasse 9, 9555 Tobel/TG |
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Country : |
Switzerland |
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Year of Establishments: |
1982 |
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Com. Reg. No.: |
440.3.005.816-4 / 302542 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
manufacturer of machinery for the manufacturing
and finishing of textiles. |
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No. of Employees : |
125 |
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 |
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Payment Behaviour : |
No Complaints |
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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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
Santex AG
Fliegeneggstrasse 9
9555 Tobel/TG
Switzerland/CH
Telephone: 071
9186666
Fax: 071
9186600
Web
site: http://www.santex-group.com
E-mail: santex@santex-group.com
VAT-No.: CHE107408348
Established: 1982
Line
of Business: Machinery
Industry
Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Export
Banks: UBS Ltd
Coverage: Company
Figures: approximately
Employees: 125
Sales: CHF 20-40 Mio
The business activities includes the manufacture of machinery for the
manufacturing and finishing of textiles. The production area covers 4,000 m2.
Real Estate: The company owns buildings.
Company
No: 440.3.005.816-4 /
302542
Legal
form: Company limited
by shares
Registration: 12.06.1992
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Thurgau
History: Date of Statutes:
24.05.1996
Date of
Incorporation Statutes: 05.06.1992
Date of
Statutes: 27.06.2003
Date of
Statutes: 28.04.2000
Entry Deleted Name
active Santex
AG
Entry Deleted Legal domicile
active Tobel-Tägerschen,
Switzerland
Entry Deleted Address
active Fliegeneggstrasse
9, 9555 Tobel/TG, Switzerland/CH
Entry Deleted Capital
16.07.2003 Share
Capital CHF 3,165,600, paidup CHF 3,165,600
Entry Deleted Capital Structure
16.07.2003 31,656
Registered shares of CHF 100.--
Entry Deleted Activity (original Language)
active Fabrikation
von Maschinen und Sonderanlagen aller Art sowie der Betrieb aller damit im
Zusammenhang stehenden Handelsgeschäfte. Sie bezweckt den Erwerb, die
Auswertung und Vermittlung von Erfindungen, Patenten und Lizenzen. Die
Gesellschaft kann Liegenschaften und Grundstücke erwerben, verwalten und
veräussern sowie Finanzierungen aller Art vornehmen, insbesondere die Gewährung
von Darlehen an Dritte oder Aktionäre oder deren Sicherstellung. Die
Gesellschaft kann sich an Unternehmen beteiligen.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
active Reports:
Die Mitteilungen an die Aktionäre erfolgen durch eingeschrieben Brief.
Title Name
President Stefano
Gallucci, Origin: Italy, Residential address: Padova, Italy, joint signature of
two, Registered since: 25.10.2011
Vice-President Ferdinando Businaro,
Origin: Italy, Residential address: Monselice, Italy, joint signature of two,
Registered since: 25.10.2011
Director Heinz
Michel, Origin: Susch, Switzerland, Residential address: Ebnat Kappel,
Switzerland, joint signature of two, Registered since: 08.03.2012
Title Name
Member
with signing authority Alois Schönenberger,
Origin: Kirchberg SG, Switzerland, Residential address: Bettwiesen,
Switzerland, joint signature of two
Member
with signing authority Rolf Tröndle,
Origin: Germany, Residential address: Eschlikon/TG, Switzerland, joint
signature of two, Registered since: 08.03.2012
Member
with procuration Madlen
Beerli, Origin: Bichelsee-Balterswil, Switzerland, Residential address:
Eschlikon, Switzerland, joint power of attorney of two
Member
with procuration Jakob Frei, Origin:
Buttwil, Switzerland, Residential address: Weingarten-Kalthäusern, Switzerland,
joint power of attorney of two
Member
with procuration Carmelo
Nastasi, Origin: Italy, Residential address: Kreuzlingen, Switzerland, joint
power of attorney of two, Registered since: 18.12.2001
Member
with procuration Hermann
Weltin, Origin: Germany, Residential address: Allensbach, Germany, joint power
of attorney of two, Registered since: 14.11.2003
Title Name
Auditor BDO AG,
Residential address: St. Gallen, Switzerland, Id: CH-320.9.021.802-9,
Registered since: 30.11.2010
Title Name
Chief
Executive Officer Heinz
Michel
Chief
Financial Officer Alois
Schönenberger (a.schoenenberger@santex-group.com)
Chief
Operating Officer Rolf Tröndle
(r.troendle@santex-group.com)
Name: Santex Holding AG
City/Country: Tobel/TG, Switzerland/CH
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Type: direct, Group-Level
1
Name: Santex Holding AG
City/Country: Tobel/TG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Name: American Santex Inc
City/Country: Spartanburg/South Carolina,
United States of America/US
Name: Cavitec AG in
Liquidation
City/Country: Münchwilen TG/TG,
Switzerland/CH
Name: Sperotto Rimar SpA
City/Country: Malo/Vicenza, Italy/IT
Name: Thermtech GmbH
City/Country: Theuma, Germany/DE
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
09.10.2013 2013 0
09.10.2013 2012 0
09.10.2013 2011 0
09.10.2013 2010 0
09.10.2013 2009 0
18.09.2009 2009 0
18.09.2009 2008 0
18.09.2009 2007 0
18.09.2009 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 considered to be good.
Payment
experiences: Financial obligations are
met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
UK Pound |
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.83.93 |
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.