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Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
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Name : |
KOLMAR GROUP AG |
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Registered Office : |
Baarerstrasse 18 Metalli Center 6300
Zug/ZG Switzerland/CH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.02.1997 |
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Com. Reg. No.: |
170.3.021.172-8 / 393173 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject is a “virtual” integrated Petroleum and Petrochemicals
company. Its product spectrum extends from heavy Petroleum to lighter
Petroleum products, a large variety of Petrochemicals and Energy products
like different biofuels and coal |
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No. of Employees : |
150-249 |
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 : |
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 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 recovered in 2010 with 3.0% growth. 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 to 1.9% in 2011 and 0.8% in 2012. 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 |
KOLMAR GROUP AG
Operating
address:
Baarerstrasse 18
Metalli Center
6300 Zug/ZG
Switzerland/CH
Telephone: 041
7275700
Fax: 041
7275701
Web
site: http://www.kolmargroup.com
E-mail: functiontrading@kolmargroup.com
WIN
Worldbox No.: CH0000108709
VAT-No.: CHE108565341
Established: 1997
Line
of Business: Financial services,
Trade brokers
Industry
Division: Services, Wholesale
trade
Industry-code (NACE): 6420 Activities of holding companies
4612 Agents involved in the sale of fuels,
ores, metals and industrial chemicals
Import/Export: Agency
Banks: unknown
Coverage: Group
Employees: 150-249
Sales: USD 6-8 Bil
The company is a “virtual” integrated Petroleum
and Petrochemicals company. Its product spectrum extends from heavy Petroleum
to lighter Petroleum products, a large variety of Petrochemicals and Energy
products like different biofuels and coal. The company has 20 offices in the
Far and Middle East, Europe, North and South America.
Information on property ownership was not
available.
Company
No: 170.3.021.172-8 /
393173
Legal
form: Company limited
by shares
Registration: 03.02.1997
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date of Statutes:
26.09.2011
Date of
Statutes: 02.12.2009
Date of
Statutes: 05.05.2008
Date of
Statutes: 30.11.2007
Date of
Statutes: 22.02.2007
Date of
Statutes: 27.10.2006
Date of
Statutes: 03.07.2006
Date of
Incorporation Statutes: 31.01.1997
Entry Deleted Name
26.02.2007 Kolmar
Group AG
26.02.2007 Kolmar
Group SA (Name translated)
26.02.2007 Kolmar
Group Ltd (Name translated)
03.02.1997 26.02.2007 Kolmar Petrochemicals AG
03.02.1997 26.02.2007 Kolmar Petrochemicals SA (Name translated)
03.02.1997 26.02.2007 Kolmar Petrochemicals Ltd (Name translated)
Entry Deleted Legal domicile
03.02.1997 Zug,
Switzerland
Entry Deleted Address
27.08.2012 Baarerstrasse
18, 6300 Zug/ZG, Switzerland/CH
12.05.2000 27.08.2012 Metallstrasse 9, 6304 Zug/ZG, Switzerland/CH
03.02.1997 12.05.2000 Alpenstrasse 11, 6300 Zug/ZG, Switzerland/CH
Entry Deleted Capital
03.02.1997 Share
Capital CHF 8,400,000, paidup CHF 8,400,000
Entry Deleted Capital Structure
03.02.1997 8,400
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
26.02.2007 Handel
mit Petrochemikalien, Polymeren, Rohöl, Rohölprodukten und industriellen
Rohstoffen aller Art für eigene und fremde Rechnung sowie mit
Gruppengesellschaften, Erwerb, Halten und Verwaltung von Beteiligungen an
Gesellschaften der Kolmar-Gruppe; kann damit zusammenhängende Dienstleistungen
erbringen oder vermitteln und Finanzierungen durchführen, sich an anderen
Unternehmen beteiligen oder sich mit anderen Unternehmen zusammenschliessen und
Unternehmen, an denen sie beteiligt ist, direkt oder indirekt finanzieren,
Grundstücke erwerben, halten, belasten und veräussern.
11.07.2006 26.02.2007 Handel mit Petrochemikalien, Polymeren, Rohöl,
Rohölprodukten und industriellen Rohstoffen aller Art für eigene und fremde
Rechnung; kann damit zusammenhängende Dienstleistungen erbringen oder
vermitteln, Finanzierungen durchführen, Tochtergesellschaften errichten, sich
an anderen Unternehmen beteiligen, Unternehmen, an denen sie beteiligt ist,
direkt oder indirekt finanzieren sowie Grundstücke erwerben, halten, belasten
und veräussern
03.02.1997 11.07.2006 Handel mit Petrochemikalien für eigene und
fremde Rechnung; kann damit zusammenhängende Dienstleistungen erbringen oder
vermitteln, Finanzierungen durchführen, sich an anderen Unternehmen beteiligen
oder sich mit anderen Unternehmen zusammenschliessen, Unternehmen, an denen sie
beteiligt ist, direkt oder indirekt finanzieren sowie Grundstücke erwerben,
halten, belasten und veräussern
Entry Deleted Remarks (original Language)
06.10.2011 Dividend
right certificates: 430 Genussscheine, mit Rechten auf Anteil am Bilanzgewinn
gemäss Statuten.
16.05.2008 Reports:
Die Mitteilungen an die Aktionäre erfolgen durch eingeschriebenen Brief oder
Kurier gegen Empfangsbestätigung oder sofern das Gesetz nicht zwingend etwas
anderes bestimmt, durch Veröffentlichung in SHAB
03.02.1997 Publishing
authority: SHAB.
10.12.2009 06.10.2011 Dividend right certificates: 390
Genussscheine, mit Rechten auf Anteil am Bilanzgewinn gemäss Statuten.
Title Name
President Ruth
Sandelowsky, Origin: Netherlands, Residential address: Zug/ZG, Switzerland,
joint signature of two, Registered since: 03.02.1997
Vice-President Rafael Aviner,
Origin: Armenia, Residential address: Weston, United States of America, joint
signature of two, Registered since: 03.02.1997
Company
Secretary Herbert C. Schlaubitz,
Origin: Meikirch, Switzerland, Residential address: Walchwil, Switzerland,
joint signature of two, Registered since: 08.10.2004
Director Dr. Josef
Bollag, Origin: Endingen, Switzerland, Residential address: Baden/AG,
Switzerland, joint signature of two, Registered since: 05.06.2002
Director Dr. Moshe
Michael Glass, Origin: Zürich, Switzerland, Residential address: Zürich/ZH,
Switzerland, joint signature of two, Registered since: 08.10.2004
Title Name
Member
with signing authority Josef
Huwyler, Origin: Mühlau, Switzerland, Residential address: Mühlau, Switzerland,
joint signature of two, Registered since: 23.01.2013
Member
with signing authority Rolf
Schultheiss, Origin: Feuerthalen, Switzerland, Residential address: Zug,
Switzerland, joint signature of two, Registered since: 19.02.2014
Member
with signing authority Chavdar
Tzonev, Origin: Huttwil, Switzerland, Residential address: Schwyz, Switzerland,
joint signature of two, Registered since: 13.07.2000
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland, Registered since: 09.12.1998
Consolidation: consolidated (Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: mil.
USD mil. USD mil. USD mil. USD mil.
USD
Operating revenue 6,800.0 6,700.0 4,450.0 2,850.0 3,950.0
Employees at year end 200 170 170 170 150
Offices 25 23 23 20 20
Owner: The company is foreign
owned.
Class: 50-100%
Type: direct
Name: ChemCore S.A.
City/Country: Luxembourg, Luxembourg/LU
Class: 100%
Name: Kolmar Americas Inc
City/Country: Bridgeport/Connecticut, United
States of America/US
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar Fibres AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 1999)
Class: 100%
Name: Kolmar Japan KK
City/Country: Tokyo, Japan/JP
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar Singapore Pte
Ltd
City/Country: Singapore, Singapore/SG
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar UK Limited
City/Country: London/Middlesex, United
Kingdom/GB
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
19.10.2008 2008 0
19.10.2008 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
Situation: The financial situation
is good.
Payment
experiences: Payment habits are
considered good.
Business
development: The business trend is
considered positive.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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.