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Report Date : |
06.06.2014 |
`
IDENTIFICATION DETAILS
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Name : |
NEOTECHA AG |
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Registered Office : |
Etzelstrasse 37/39, 8634 Hombrechtikon/ZH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2013 (Pentair Group - Consolidated) |
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Date of Incorporation : |
25.08.1970 |
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Com. Reg. No.: |
020.3.918.470-9 / 126189 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Engaged in manufacturing and marketing of sealants, machine elements, corrosion-resistant fittings as well as equipment for the chemical industry & chemical hoses Subject product
ranges includes : · Ball Valves (Model NTB/NTC, Model SNB/SNC) · Butterfly Valves (Model NeoSeal) · Gate, Globe, Check Valves (Model KR) · Instrumentation Equipment (Model KR, Model NeoSam, Model PV, Model Sapro, Model Sapro, Model Sapro (Aseptic), Model · Sapro (Hi-Temp), Model SG) |
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No of Employees : |
For Subject 67 (Estimated) For Pentair Group 30,000 (As on 31.12.2013) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Exists |
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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 |
Neotecha AG
Etzelstrasse 37/39
8634 Hombrechtikon/ZH
Switzerland/CH
Telephone: 055
2544141
Fax: 055
2544100
Web
site: http://www.neotecha.com
E-mail: neotecha@tyco-valves.com
VAT-No.: CHE106323241
Established: 1970
Line
of Business: Machinery
Industry
Division: Manufacturing
Industry-code (NACE): 2814 Manufacture of other taps and valves
Import/Export: Import, Export
Export
sales: 75,0%
Quality
certification: ISO 9001:2000
Banks: CS Credit Suisse
Coverage: Company
Figures: estimated
Employees: 67
Sales: CHF 20-40 Mio
The business activities includes the manufacture and marketing of sealants, machine elements, corrosion-resistant fittings as well as equipment for the chemical industry & chemical hoses
Products:
- Ball Valves (Model NTB/NTC, Model SNB/SNC)
- Butterfly Valves (Model NeoSeal)
- Gate, Globe, Check Valves (Model KR)
- Instrumentation Equipment (Model KR, Model
NeoSam, Model PV, Model Sapro, Model Sapro, Model Sapro (Aseptic), Model
Sapro (Hi-Temp), Model SG)
Information on property ownership was not available.
Company
No: 020.3.918.470-9 / 126189
Legal
form: Company limited by
shares
Registration: 25.08.1970
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich
History: Date of Statutes:
26.07.1990
Date of
Statutes: 15.07.1997
Date of
Statutes: 31.08.1994
Date of
Statutes: 28.06.1993
Date of
Statutes: 07.12.1992
Entry Deleted Name
active Neotecha
AG
Entry Deleted Legal domicile
active Hombrechtikon,
Switzerland
Entry Deleted Address
15.07.1993 Etzelstrasse
37/39, 8634 Hombrechtikon, Switzerland/CH
15.07.1993 Fabrikweg, 8634 Hombrechtikon/ZH,
Switzerland/CH
Entry Deleted Capital
15.07.1993 Share
Capital CHF 2,710,000, paidup CHF 2,710,000
Entry Deleted Capital Structure
15.07.1993 2,168
Registered shares of CHF 1,250.--
Entry Deleted Activity (original Language)
13.04.1995 Entwicklung,
Fabrikation und Vertrieb von korrosionsbeständigen Armaturen und Apparaten für
die chemische Industrie; kann einschlägige Vertretungen übernehmen sowie
Grundeigentum erwerben.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
28.12.1992 Shares:
Die Übertragbarkeit der Namenaktien ist beschränkt nach Massgabe der Statuten.
28.12.1992 Reports:
Mitteilungen an die Aktionäre erfolgen durch eingeschriebenen Brief.
Title Name
President Roger
Affolter, Origin: Seeberg, Switzerland, Residential address: 8180 Bülach/ZH,
Switzerland, joint signature of two, Registered since: 18.10.2010
Director Thomas Schlösser,
Origin: Germany, Residential address: Krefeld , Germany, joint signature of
two, Registered since: 18.10.2010
Title Name
Member
with signing authority Roger Mock,
Origin: Schwellbrunn, Switzerland, Residential address: Uznach, Switzerland,
joint signature of two, Registered since: 18.10.2010
Member
with signing authority James
Wainwright, Origin: United Kingdom, Residential address: Maur, Switzerland,
joint signature of two, Registered since: 11.12.2013
Member
with signing authority Peter
Zollinger, Origin: Urdorf, Switzerland, Residential address: 8607 Seegräben/ZH,
Switzerland, joint signature of two, Registered since: 28.09.2009
Title Name
Auditor Deloitte
AG, Residential address: Zürich, Switzerland, Registered since: 14.10.2004
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Statement norm: US-GAAP US-GAAP US-GAAP US-GAAP US-GAAP
Balance Sheet
Intangible fixed
assets 6,910,300.0 6,804,168.0 2,866,203.0 2,519,614.0 2,575,204.0
Other tangible
fixed assets 1,170,000.0
Tangible fixed
assets 1,170,000.0 1,224,488.0 387,525.0 329,435.0 333,688.0
Financial fixed
assets 0.0 157,394.0 0.0 0.0 0.0
other fixed assets 430,900.0 348,893.0 94,750.0 55,187.0 56,144.0
Fixed assets 8,511,200.0 8,534,943.0 3,348,478.0 2,904,236.0 2,965,036.0
Stocks 1,243,300.0 1,380,271.0 449,863.0 405,356.0 360,627.0
Trade accounts
receivable 1,334,300.0 1,292,648.0 569,204.0
Liquid assets 265,100.0 261,341.0 50,077.0 46,056.0 33,396.0
other trade
accounts 285,500.0 326,108.0 168,691.0
Accruals 103,900.0
Other current
assets 654,500.0 587,449.0 218,768.0
Current assets 3,232,100.0 3,260,368.0 1,237,835.0 1,069,297.0 946,298.0
Total assets 11,743,300.0 11,795,311.0 4,586,313.0 3,973,533.0 3,911,334.0
Capital 113,500.0 113,454.0 47,526.0
Other shareholders
funds 5,981,800.0 6,253,406.0 1,885,803.0
Total shareholders
equity 6,095,300.0 6,366,860.0 1,933,329.0 2,093,153.0 2,012,088.0
Minority interests 122,400.0 116,497.0 114,063.0 111,879.0 114,252.0
long term debt
(financial debts) 2,552,600.0 2,454,278.0 1,304,225.0 702,521.0 803,351.0
Provisions 324,800.0 240,184.0 266,738.0
Other non current
liabilities 1,038,000.0 1,319,755.0 592,855.0 279,000.0 268,626.0
Non current
liabilities 3,915,400.0 3,774,033.0 1,897,080.0 1,221,705.0 1,338,715.0
short term debt
(financial debts) 2,500.0 3,096.0 4,862.0
Trade accounts
payable 596,600.0 569,596.0 294,858.0
Accruals 56,600.0 53,696.0 29,355.0
other accounts
payable 954,500.0 911,533.0 312,766.0
other current
liabilities 1,011,100.0 965,229.0 342,121.0
Current
liabilities 1,610,200.0 1,537,921.0 641,841.0 546,796.0 446,279.0
Shareh. equity,
min. interests + liabilities 11,743,300.0 11,795,311.0 4,586,313.0 3,973,533.0 3,911,334.0
Profit and loss
account
Net sales 7,479,700.0 4,416,146.0 3,456,686.0 3,030,773.0 2,692,468.0
Other operating
revenue 19,700.0
Operating revenue 7,499,400.0 4,416,146.0 3,456,686.0
Cost of goods sold 5,006,800.0 3,146,554.0 2,382,964.0
Gross profit 2,492,600.0 1,269,592.0 1,073,722.0
Other operating
expenses 1,698,900.0 1,388,078.0 973,519.0
Operating result 793,700.0 -118,486.0 100,203.0 336,263.0 213,765.0
Interest revenues 7,600.0 2,902.0 1,432.0
other financial
revenues 1,800.0 37,986.0 6,273.0
Financial income 9,400.0 40,888.0 7,705.0
Interest expenses 76,700.0 70,537.0 60,267.0
other financial
expenses 29,800.0 3,883.0 93,717.0
Financial expenses 106,500.0 74,420.0 153,984.0
Financial result -97,100.0 -33,532.0 -146,279.0
Result before
extraordinary items 696,600.0 -152,018.0 -46,076.0
Result before
taxes 696,600.0 -152,018.0 -46,076.0
Taxes 183,800.0 -79,353.0 46,417.0
Result before
minority interests 512,800.0 -72,665.0 -92,493.0
minority interests 8,000.0 3,988.0 2,184.0
Result for the
financial year 504,800.0 -76,653.0 -94,677.0 197,828.0 115,493.0
Cash flow
Depreciation 148,900.0 87,835.0 66,235.0
Cash flow 661,700.0 15,170.0 -26,258.0
Cash flow from
operating activities 915,300.0 67,960.0 320,226.0
Investments in
tangible fixed assets 170,000.0 94,532.0 73,348.0
Cash flow from
investing activities -211,200.0 375,577.0 -808,086.0
Cash flow from
financing activities -719,100.0 -232,306.0 503,553.0
Others 18,800.0 33.0 -11,672.0
Change in
liquidity 3,800.0 211,264.0 4,021.0
Liquidity at
beginning of the year 261,300.0 50,077.0 46,056.0
Liquidity at end
ot the year 265,100.0 261,341.0 50,077.0
Notes
Material costs 5,006,800.0 3,146,554.0 2,382,964.0
Research and
Development 125,800.0 93,557.0 78,158.0
Added value 922,200.0 6,354.0 80,426.0
Working Capital 1,981,000.0 2,103,323.0 724,209.0
Sales per Employee 249.3 148.7
Gross cost land
and buildings 768,100.0 247,868.0 41,111.0
Gross cost other
tangible fixed assets 1,280,600.0 1,692,884.0 977,427.0
Gross cost total 2,048,700.0 1,940,752.0 1,018,538.0
Employees at year end 30,000 29,700
Name: Pentair Ltd.
City/Country: Schaffhausen/SH, Switzerland/CH
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Pentair Ltd.
City/Country: Schaffhausen/SH, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 28.09.2012)
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
04.02.2014 2014 0
04.02.2014 2013 0
04.02.2014 2012 0
04.02.2014 2011 0
04.02.2014 2010 0
04.02.2014 2009 1 949.-- Open 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.
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
appears to be good.
Payment
experiences: Payments are made with
arranged conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.30 |
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UK Pound |
1 |
Rs.99.34 |
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Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
|
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 |
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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 |
-- |
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.