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Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
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Name : |
COGETEX SA |
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Registered Office : |
Avenue de la Praille 26, P.O. Box 1916,
1227 Carouge/GE |
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Country : |
Switzerland |
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Year of Establishment : |
1958 |
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Com. Reg. No.: |
660.0.470.983-2 / 36583 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject operates as a merchant in textiles, handling a range of products that extends from fibres to fabrics, including yarn and cloth, grey and bleached, made of cotton and a large variety of other raw materials and blends. |
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No of Employees : |
28 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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 |
Cogetex SA
Avenue de la Praille 26
P.O. Box 1916
1227 Carouge/GE
Switzerland/CH
Telephone: 022
8279797
Fax: 022
8279898
Web
site: http://www.cogetex.com
E-mail: cogetex@cogetex.com
VAT-No.: CHE103204195
Established: 1958
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4641 Wholesale of textiles
Import/Export: Import, Export
Banks: UBS Ltd
BCV Banque
Cantonale Vaudoise
CS Credit
Suisse
Crédit
Agrigole (Suisse) SA
Organisation
level: Ultimate Parent
Coverage: Company
Figures: approximately
Employees: 28
Sales: CHF 10-20 Mio
The company operates as a merchant in textiles, handling a range of
products that extends from fibres to fabrics, including yarn and cloth, grey
and bleached, made of cotton and a large variety of other raw materials and
blends. The company sources and distributes monthly through its extensive
network tens of millions of meters of fabric, as well as thousands of tons of
yarn.
Real
Estate: The company owns
buildings.
Value: CHF 12,500,000.--
Company
No: 660.0.470.983-2 / 36583
Legal
form: Company limited by
shares
Registration: 17.08.1983
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Genève
History: Date of Statutes:
26.07.1994
Date of
Statutes: 02.12.2011
Date of
Statutes: 18.06.1997
Entry Deleted Name
active Cogetex
SA
Entry Deleted Legal domicile
active Carouge
(GE), Switzerland
Entry Deleted Address
active avenue
de la Praille 26, 1227 Carouge GE/GE, Switzerland/CH
Entry Deleted Capital
29.02.2012 Share
Capital CHF 12,000,000, paidup CHF 12,000,000
Entry Deleted Capital Structure
29.02.2012 24,000
Bearer shares of CHF 500.--
Entry Deleted Activity (original Language)
29.02.2012 Commerce
de matières premières et de produits industriels finis ou semi-finis, notamment
de tissus, écrus, teints, imprimés ou confectionnés (cf. statuts pour but
complet).
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Board
of directors: 1 ou plusieurs membres.
19.12.2013 Note:
L'identification sous le numéro CH-660-0470983-2 est remplacée par le numéro
d'identification des entreprises (IDE/UID) CHE-103.204.195.
29.02.2012 Reports:
Communication aux actionnaires: Feuille Officielle Suisse du Commerce ou lettre
recommandée s'ils sont tous connus.
Title Name
President Samuel
Babecoff, Origin: Vernier, Switzerland, Residential address: Cologny,
Switzerland, born: 25.06.1930, single signature
Vice-President,
Chief Executive Eric Babecoff, Origin:
Vernier, Switzerland, Residential address: Carouge, Switzerland, born:
29.06.1960, single signature, Registered since: 25.01.1995
Title Name
Auditor Deloitte
SA, Residential address: Lausanne, Switzerland, Registered since: 23.06.1997
No.
of Owner/-s: 1
Owner: The company is
privately owned.
Class: 100%
Type: direct
Name: Samuel Babecoff
City/Country: Cologny, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: COGECOT SA
City/Country: Carouge GE/GE, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
29.01.2013 2013 0
29.01.2013 2012 0
29.01.2013 2011 0
29.01.2013 2009 0
29.01.2013 2008 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: Financial obligations are
paid promptly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
|
UK Pound |
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.