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Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BAWI-TEX AG |
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Registered Office : |
Bernerhöhe Nord 7 6410
Goldau/SZ |
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Country : |
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Date of Incorporation : |
19.10.1983 |
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Com. Reg. No.: |
130.0.006.891-6 / 16086 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
·
Manufacture of made-up textile articles, except
apparel ·
Manufacture of mattresses |
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No. of Employees |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
BAWI-TEX AG
Operating
address:
Bernerhöhe Nord 7 Branch:
6410 Goldau/SZ Militärstrasse
9A
Switzerland/CH 6467
Schattdorf/UR
Switzerland/CH
Telephone: 041
8591759 041
8702372
Fax: 041
8591750
Web
site: http://www.bawitex.ch
E-mail: mail@bawitex.ch
WIN
Worldbox No.: CH0000338217
VAT-No.: CHE108153642
Established: 1983
History: 1983: Established from Willy Bättig
Line
of Business: Consumer goods
wholesale, Textiles/flooring, Furniture manufacturing
Industry
Division: Wholesale trade,
Manufacturing
Industry-code (NACE): 4641 Wholesale of textiles
1392 Manufacture of made-up textile articles,
except apparel
3103 Manufacture of mattresses
Import/Export: Import
Banks: ZGKB Zuger Kantonalbank
Coverage: Company
Figures: approximately
Employees: 30
Sales: CHF 10-20 Mio
The business activities includes the
manufacture and sale of mattresses, blankets, pillows, bed coverings and fitted
sheets. Besides its own production, the company sells products from other
suppliers. Since 2009 high-quality bed contents are produced in Goldau.
Mattresses are made exclusively from Swiss foams and sold under the brand name
"softsleep". The range includes also articles of the brands Bawitex
and Technogel.
The company has 13,000 m2 of office,
warehouse and manufacturing area.
Information on property ownership was not
available.
Company
No: 130.0.006.891-6 / 16086
Legal
form: Company limited
by shares
Registration: 19.10.1983
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Schwyz (since 22.02.1994)
History: Date of Statutes:
07.03.1984
Date of
Incorporation Statutes: 05.10.1983
Date of
Statutes: 29.09.1998
Date of
Statutes: 25.01.1994
Entry Deleted Name
active Bawi-Tex
AG
Entry Deleted Legal domicile
22.02.1994 Arth,
Switzerland
22.02.1994 Walchwil, Switzerland
Entry Deleted Address
active Bernerhöhe
Nord, 6410 Goldau/SZ, Switzerland/CH
Entry Deleted Capital
16.10.1998 Share
Capital CHF 500,000, paidup CHF 500,000
Entry Deleted Capital Structure
16.10.1998 500
Registered shares with restricted transferability of CHF 1,000.--
Title Name
President Willy
Bättig, Origin: Hausen am Albis, Switzerland, Residential address: 6318
Walchwil, Switzerland, single signature
Chief
Executive Christian
Bättig, Origin: Hausen am Albis, Switzerland, Residential address: 6318
Walchwil, Switzerland, single signature
Title Name
Auditor Treuhand
von Flüe AG, Residential address: Zug, Switzerland, Registered since:
08.04.2004
Title Name
Chief
Executive Officer Christian
Bättig
No.
of Owner/-s: 2
Owner: The company is in
family ownership.
Class: 50-100%
Type: direct
Name: Willy Bättig
City/Country: Walchwil/ZG, Switzerland/CH
Interest: 0,00% capital interest
(since 1983)
Class: unknown
Type: direct
Name: Christian Bättig
City/Country: Walchwil/ZG, Switzerland/CH
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
26.08.2014 2011 0
26.08.2014 2009 0
26.08.2013 2013 0
26.08.2013 2012 0
11.01.2008 2008 0
11.01.2008 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.
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 in order.
Payment
experiences: Payments are made with
arranged conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.