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Report Date : |
22.05.2014 |
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Tel. No.: |
041434994100 |
IDENTIFICATION DETAILS
|
Name : |
ENRC MARKETING (AFRICA) AG |
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|
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Registered Office : |
Balz Zimmermann Strasse 7, Postfach 8058, 8302
Kloten/ZH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2012 (Consolidated - Ultimate Parent Company) |
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Date of Incorporation : |
31.03.2006 |
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Com. Reg. No.: |
020.3.029.730-7 / 833420 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
· Engaged in marketing, trading and distribution of mineral raw materials, particularly metals and metal alloys, which were funded and processed primarily in Africa. · Wholesaler of metals and metal ores |
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No of Employees : |
01 |
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 – 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 |
ENRC Marketing (Africa) AG
Balz Zimmermann Strasse 7
Postfach 8058
8302 Kloten/ZH
Switzerland/CH
Telephone: 043
4994100
Fax: 043
4994199
Web
site: http://www.enrc.com
E-mail: info@enrc.com
VAT-No.: CHE112856770
Established: 2006
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4672 Wholesale of metals and metal ores
Import/Export: Import
Banks: unknown
Coverage: Company
Employees: 1
The business activities includes the marketing, trading and distribution
of mineral raw materials, particularly metals and metal alloys, which were
funded and processed primarily in Africa.
Information on property ownership was not available.
Company
No: 020.3.029.730-7 / 833420
Legal
form: Company limited by
shares
Registration: 31.03.2006
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich
History: Date of Statutes:
03.02.2010
Date of
Statutes: 04.04.2006
Date of
Incorporation Statutes: 23.03.2006
Entry Deleted Name
09.02.2010 ENRC
Marketing (Africa) AG
09.02.2010 ENRC
Marketing (Africa) Corp. (Name translated)
09.02.2010 ENRC
Marketing (Africa) SA (Name translated)
10.04.2006 09.02.2010 DDK Trading AG
10.04.2006 09.02.2010 DDK Trading SA (Name translated)
10.04.2006 09.02.2010 DDK Trading Corp. (Name translated)
31.03.2006 10.04.2006 ENRC International Marketing AG
31.03.2006 10.04.2006 ENRC International Marketing SA (Name
translated)
31.03.2006 10.04.2006 ENRC International Marketing Corp. (Name
translated)
Entry Deleted Legal domicile
31.03.2006 Kloten,
Switzerland
Entry Deleted Address
31.03.2006 Balz
Zimmermann-Strasse 7, 8302 Kloten/ZH, Switzerland/CH
Entry Deleted Capital
31.03.2006 Share
Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
31.03.2006 100
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
09.02.2010 Die
Gesellschaft bezweckt die Vermarktung, den Handel mit und den Vertrieb von
mineralischen Rohstoffen, insbesondere von Metallen und Metalllegierungen,
welche vorwiegend in Afrika gefördert und verarbeitet wurden. Die Gesellschaft
kann Zweigniederlassungen und Tochtergesellschaften im In- und Ausland
errichten und sich an anderen Unternehmen im In- und Ausland beteiligen oder
solche erwerben. Die Gesellschaft kann Grundstücke erwerben, halten und
veräussern sowie Lizenzen, Patente und andere Immaterialgüterrechte erwerben.
Die Gesellschaft kann alle kommerziellen, finanziellen und anderen Tätigkeiten
ausüben, welche mit dem Zweck der Gesellschaft im Zusammenhang stehen oder
diesen zu fördern geeignet sind.
31.03.2006 09.02.2010 Die Gesellschaft bezweckt die Vermarktung, den
Handel mit und den Vertrieb von mineralischen Rohstoffen, insbesondere von
Metallen und Metalllegierungen. Die Gesellschaft kann Zweigniederlassungen und
Tochtergesellschaften im In- und Ausland errichten und sich an anderen
Unternehmen im In- und Ausland beteiligen oder solche erwerben. Die
Gesellschaft kann Grundstücke erwerben, halten und veräussern sowie Lizenzen,
Patente und andere Immaterialgüterrechte erwerben. Die Gesellschaft kann alle
kommerziellen, finanziellen und anderen Tätigkeiten ausüben, welche mit dem
Zweck der Gesellschaft im Zusammenhang stehen oder diesen zu fördern geeignet
sind.
Entry Deleted Remarks (original Language)
30.03.2009 Merger:
Übernahme der Aktiven und Passiven der IMR Marketing AG, in Kloten
(CH-020.3.029.739-9), gemäss Fusionsvertrag vom 30.09.2008 und Bilanz per
30.09.2008. Aktiven von CHF 67'116'402.00 und Passiven (Fremdkapital) von CHF
1'914'973.00 gehen auf die übernehmende Gesellschaft über. Da dieselbe
Aktionärin sämtliche Aktien der an der Fusion beteiligten Gesellschaften hält,
findet weder eine Kapitalerhöhung noch eine Aktienzuteilung statt.
31.03.2006 Publishing
authority: SHAB.
31.03.2006 Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
31.03.2006 Reports:
Mitteilungen an die Aktionäre erfolgen schriftlich an die im Aktienbuch
verzeichneten Adressen.
Title Name
President Abdumalik
Mirakhmedov, Origin: St. Kitts, Nevis, Switzerland, Residential address:
Beijing, China, joint signature of two, Registered since: 29.05.2013
Director Beat
Ehrensberger, Origin: Winterthur, Switzerland, Residential address: 8142
Uitikon, Switzerland, joint signature of two
Director Marc Van
Winkel, Origin: Belgium, Residential address: 8124 Maur, Switzerland, joint
signature of two, Registered since: 13.08.2008
Title Name
Director Beat
Ehrensberger, Origin: Winterthur, Switzerland, Residential address: 8142
Uitikon, Switzerland, joint signature of two
Director Abdumalik
Mirakhmedov, Origin: St. Kitts, Nevis, Switzerland, Residential address:
Beijing, China, joint signature of two, Registered since: 29.05.2013
Vice-Director Giles Michael
Smith, Origin: United Kingdom, Residential address: Zürich/ZH, Switzerland,
joint signature of two, Registered since: 02.04.2012
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland
Title Name
Chief Executive Officer Giles Michael Smith
EURASIAN NATURAL RESOURCES CORPORATION PLC (Ultimate Parent Company)
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12
Currency: mil.
USD mil. USD mil. USD mil. USD
Statement norm: US-GAAP
Balance Sheet
Intangible fixed
assets 1,754.0 1,410.0 1,368.0 610.0
Land and buildings 14,591.0 9,891.0
Tangible fixed
assets 14,591.0 9,891.0 8,186.0 5,470.0
Financial fixed
assets 383.0 870.0 501.0 773.0
other fixed assets 307.0 424.0 706.0 295.0
Fixed assets 17,035.0 12,595.0 10,761.0 7,148.0
Stocks 1,292.0 1,027.0 862.0 607.0
Trade accounts
receivable 1,056.0 1,223.0
Liquid assets 698.0 622.0 1,595.0 830.0
Securities 62.0 11.0
other trade
accounts 21.0 38.0
Accruals 0.0 0.0
Other current
assets 781.0 671.0
Current assets 3,129.0 2,921.0 3,557.0 2,469.0
Total assets 20,164.0 15,516.0 14,318.0 9,617.0
Capital 3,257.0 3,257.0
Other shareholders
funds 6,489.0 7,643.0
Total shareholders
equity 9,746.0 10,900.0 9,772.0 7,713.0
Minority interests 804.0 336.0 261.0 291.0
long term debt
(financial debts) 8,093.0 2,703.0 1,406.0 68.0
Provisions 133.0 154.0
Other non current
liabilities 25.0 1,233.0 461.0
Non current
liabilities 8,093.0 2,728.0 2,772.0 683.0
short term debt
(financial debts) 1,521.0 1,552.0
Current
liabilities 1,521.0 1,552.0 1,513.0 930.0
Shareh. equity,
min. interests + liabilities 20,164.0 15,516.0 14,318.0 9,617.0
Profit and loss
account
Sales 6,320.0 7,705.0
Net sales 6,320.0 7,705.0 6,605.0 3,831.0
Operating revenue 6,320.0 7,705.0
Cost of goods sold 3,723.0 3,517.0
Gross profit 2,597.0 4,188.0
Other operating
expenses 2,971.0 1,312.0
Operating result -374.0 2,876.0 3,022.0 1,198.0
Interest revenues 60.0 61.0
other financial
revenues 89.0 2.0
Financial income 149.0 63.0
Interest expenses 286.0 184.0
other financial
expenses 39.0
Financial expenses 325.0 184.0
Financial result -176.0 -121.0
Result before
extraordinary items -550.0 2,755.0
Extraordinary
Result 0.0 0.0
Result before
taxes -550.0 2,755.0
Taxes 302.0 769.0
Result before
minority interests -852.0 1,986.0
Result for the
financial year -852.0 1,986.0 2,185.0 1,045.0
Name: EURASIAN NATURAL
RESOURCES CORPORATION PLC
City/Country: London, United Kingdom/GB
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: EURASIAN NATURAL
RESOURCES CORPORATION PLC
City/Country: London, United Kingdom/GB
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct
Name: ENRC Marketing AG
City/Country: Kloten/ZH, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
It is believed that the company has no investments.
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.58.72 |
|
UK Pound |
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.57 |
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.