|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SILCO SA |
|
|
|
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Registered Office : |
Rue Pierre-Fatio 15, 1204 Genève/GE |
|
|
|
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Country : |
Switzerland |
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Date of Incorporation : |
14.05.1998 |
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|
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Legal Form : |
Company limited by shares |
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|
|
|
Line of Business : |
The company procures and sells textile, plastic raw materials and
sources automotive part and components. Headquartered in Switzerland,the
textile arm of Silco has branches and companies in its main markets Turkey,
Morocco and Algeria |
|
|
|
|
No. of Employees : |
13 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 |
SILCO SA
Rue Pierre-Fatio
15
1204 Genève/GE
Switzerland/CH
Telephone: 022
7074860
Fax: 022
7074879
Web
site: http://www.silcotex.com
E-mail: naciman@silco.ch
WIN
Worldbox No.: CH0000106279
VAT-No.: CHE104526170
Established: 1998
Line
of Business: Trade brokers
Industry
Division: Wholesale trade
Industry-code (NACE): 4616 Agents involved in the sale of textiles,
clothing, fur, footwear and leather goods
4614 Agents involved in the sale of machinery,
industrial equipment, ships and aircraft
4618 Agents specialised in the sale of other
particular products
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 13
Sales: CHF 400-600 Mio
The company procures and sells textile,
plastic raw materials and sources automotive part and components. Headquartered
in Switzerland,the textile arm of Silco has branches and companies in its main
markets Turkey, Morocco and Algeria.
Information on property ownership was not
available.
Company
No: 660.0.944.998-0 / 428285
Legal
form: Company limited by
shares
Registration: 14.05.1998
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Genève
History: Date of Incorporation
Statutes: 11.05.1998
Entry Deleted Name
14.05.1998 SILCO
SA
Entry Deleted Legal domicile
14.05.1998 Genève,
Switzerland
Entry Deleted Address
02.12.2002 Rue
Pierre-Fatio 15, 1200 Genève/GE, Switzerland/CH
14.05.1998 02.12.2002 boulevard Helvétique 36, 1200 Genève/GE,
Switzerland/CH
Entry Deleted Capital
14.05.1998 Share
Capital CHF 1,400,000, paidup CHF 1,400,000
Entry Deleted Capital Structure
14.05.1998 1,400
Bearer shares of CHF 1,000.--
Entry Deleted Activity (original Language)
14.05.1998 Négoce
international; représentation, agence et courtage; participations à des
entreprises et financement d'entreprises; transactions fiduciaires.
Entry Deleted Remarks (original Language)
14.05.1998 Publishing
authority: FOSC.
Title Name
President,
Chief Executive Claude Nahum,
Origin: Genève, Switzerland, Residential address: Founex, Switzerland, joint
signature of two
Director Nissim
Acimann, Origin: Lausanne, Switzerland, Residential address: Cologny,
Switzerland, joint signature of two
Director Michel A.
Halperin, Origin: Genève, Switzerland, Residential address: Cologny,
Switzerland, joint signature of two
Director Aksel
Kahmi, Origin: Genève, Switzerland, Residential address: Genève/GE, Switzerland,
joint signature of two
Director Inan
Kiraç, Origin: Turkey, Residential address: Istanbul, Turkey, joint signature
of two
Director Ipek
Kiraç, Origin: Turkey, Residential address: Istanbul, Turkey, joint signature
of two, Registered since: 09.02.2012
Title Name
Member
with procuration Leyla
Elçi-Yigitbasi, Origin: Versoix, Switzerland, Residential address: Cologny,
Switzerland, joint power of attorney of two, Registered since: 19.12.2012
Member
with procuration Sinangil
Hacer Tunçelli , Origin: Pully, Switzerland, Residential address: Pully,
Switzerland, joint power of attorney of two, Registered since: 19.12.2012
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Genève, Switzerland, Registered since: 12.03.2002
Name: SILCOLUX S.A.
City/Country: Luxembourg, Luxembourg/LU
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct, Group-Level 1
Name: SILCOLUX S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: NITORA Handels GmbH
City/Country: Wien, Austria/AT
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: SILCO POLYMERS SA
City/Country: Genève/GE, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
16.07.2013 2013 0
16.07.2013 2012 0
16.07.2013 2011 0
16.07.2013 2010 0
08.08.2008 2008 0
08.08.2008 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.
Other addresses:
Silco S.A Liaison Bursa Ofis
Buttim Plaza 24.Kat No:1683
16250 Bursa - Turkiye
Tel: +90 224 211 30 26 - 27 - 28
Fax: +90 224 211 20 84
cemalf@silcotex.com
Silco S.A Liaison İstanbul Ofis
Keresteciler Sitesi,Mehmet Akif Cad.
Taflan Sok.Uras İş Merkezi No:2
Daire:8
Merter - Istanbul Turkiye
34169
Tel:
+90 (212) 644 67 87
Fax: +90 (212) 644 67 84
zekiv@silcotex.com
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 considered to be in order.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.