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Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMAG AG |
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Registered Office : |
Ringstrasse 39, P.O. Box 4603 Olten/SO |
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Country : |
Switzerland |
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Year of Establishment : |
1932 |
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Com. Reg. No.: |
249.3.000.021-7 / 51907 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Trader of hides and skins from beef, veal, lamb, sheep, goats and deer |
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No of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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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 (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
Emag AG
Ringstrasse 39
P.O. Box
4603 Olten/SO
Switzerland/CH
Telephone: 062
2062080
Fax: 062
2062081
Web
site: http://www.emag.ch
E-mail: info@emag.ch
WIN
Worldbox No.: CH0000772194
VAT-No.: CHE102212683
Established: 1932
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4624 Wholesale of hides, skins and leather
Import/Export: Import, Export
Banks: CS Credit Suisse
Coverage: Company
Employees: 5
The business activities includes trading in hides
and skins from beef, veal, lamb, sheep, goats and deer. The main customers are:
New Zealand, Italy, Hong Kong. The main importing countries are: New Zealand,
Italy, Hong Kong.
Information on property ownership was not
available.
Company
No: 249.3.000.021-7 / 51907
Legal
form: Company limited
by shares
Registration: 17.02.1933
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Solothurn
History: Date of Statutes:
20.08.1976
Date of Statutes:
09.12.2011
Date of
Statutes: 09.06.2008
Entry Deleted Name
active Emag
AG
active Emag
SA (Name translated)
active Emag
Ltd (Name translated)
Entry Deleted Legal domicile
10.06.2008 Olten,
Switzerland
10.06.2008 Wangen bei Olten, Switzerland
Entry Deleted Address
10.06.2008 Ringstrasse
39, 4600 Olten/SO, Switzerland/CH
10.06.2008 Mittelgäustrasse 2, 4612 Wangen bei Olten/SO,
Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 300,000, paidup CHF 300,000
Entry Deleted Capital Structure
13.12.2011 270
Registered shares of CHF 1,000.--
13.12.2011 30
Registered shares (preferred shares) of CHF 1,000.--
13.12.2011 300 Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
13.12.2011 Handel
mit rohen und gegerbten Häuten und Fellen. Kann Zweigniederlassungen und
Tochtergesellschaften im In- und Ausland errichten und sich an anderen
Unternehmen im In- und Ausland beteiligen sowie alle Geschäfte tätigen, die
direkt oder indirekt mit ihrem Zweck in Zusammenhang stehen, im In- und Ausland
Grundeigentum erwerben, belasten, veräussern und verwalten, ferner
Finanzierungen für eigene oder fremde Rechnung vornehmen sowie Garantien und
Bürgschaften für Tochtergesellschaften und Dritte eingehen.
13.12.2011 Handel mit rohen und gegerbten Häuten und
Fellen. Die Gesellschaft kann sich an anderen Unternehmen beteiligen,
Grundstücke erwerben und veräussern.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
13.12.2011 Shares:
Vorzugsaktien: Vorrechte bezüglich Dividende gemäss Statuten.
13.12.2011 Reports:
Mitteilungen an die Aktionäre erfolgen schriftlich, mit Telefax oder mit
elektronischer Post an die im Aktienbuch verzeichneten Adressen.
10.06.2008 Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
10.06.2008 13.12.2011 Reports: Die Mitteilungen der Gesellschaft an
die Aktionäre erfolgen durch eingeschriebenen Brief an die Adressen der im
Aktienbuch eingetragenen Aktionäre.
Title Name
President Niklaus
Thomas Zehnder, Origin: Einsiedeln, Switzerland, Residential address: Wangen
bei Olten/SO, Switzerland, single signature
Director Christoph
N. Zehnder, Origin: Einsiedeln, Switzerland, Residential address: 4600
Olten/SO, Switzerland, single signature
Title Name
Auditor ITERA
Wirtschaftsprüfung AG, Residential address: Aarau, Switzerland
Title Name
Chief
Executive Officer Niklaus
Thomas Zehnder
Owner: The company is in
family ownership.
It is believed that the company has no
investments.
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Control date Year No. Amount CHF Status
30.04.2008 2008 0
30.04.2008 2007 0
30.04.2008 2006 0
Official bankruptcy reports:
No bankruptcy publications available on the
subject.
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.
Payment experiences from pre-legal
collection cases:
No payment experiences from pre-legal
collection cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection
cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of
payment and the business conduct.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.74 |
|
|
1 |
Rs. 98.77 |
|
Euro |
1 |
Rs. 80.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.