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Report Date : |
01.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ITX TRADING SA |
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|
|
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Registered Office : |
Rue Louis D'affry 6, 1700 Fribourg/FR |
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|
|
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Country : |
Switzerland |
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|
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Financials (as on) : |
31.01.2013 |
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Year of Establishment : |
1963 |
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|
|
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Com. Reg. No.: |
217.3.534.972-6 / 828369 |
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Legal Form : |
Company limited by shares |
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|
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Line of Business : |
Wholesaler of clothing and footwear |
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No of Employees : |
17 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
ITX Trading SA
Rue Louis d'Affry
6
1700 Fribourg/FR
Switzerland/CH
Telephone: 026
3092400
Web
site: http://www.inditex.com
E-mail: info@inditex.com
WIN
Worldbox No.: CH0007054554
VAT-No.: CHE112763766
Established: 1963
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4642 Wholesale of clothing and footwear
Import/Export: Import, Export
Banks: UBS Ltd
CS Credit
Suisse
Coverage: Company
Figures: estimated
Employees: 17
Sales: CHF 10-20 Mio
The business activities are wholesale trade
in clothing, shoes and accessories. Within the Group the company is responsible
for the trade activity between Asia and Europe. They maintain offices in Hong
Kong and Shanghai.
Real
Estate: The company owns
no property.
Company
No: 217.3.534.972-6 / 828369
Legal
form: Company limited by
shares
Registration: 10.02.2006
Legal
status: active
Responsible
Register: Handelsregister des
Saane-Bezirkes (FR)
History: Date of Statutes:
06.02.2013
Date of
Statutes: 15.03.2006
Date of
Incorporation Statutes: 09.02.2006
Entry Deleted Name
10.02.2006 ITX Trading
SA
Entry Deleted Legal domicile
10.02.2006 Fribourg,
Switzerland
Entry Deleted Address
05.09.2012 Rue
Louis d'Affry 6, 1700 Fribourg/FR, Switzerland/CH
10.02.2006 05.09.2012 Avenue de la Gare 4, 1700 Fribourg/FR,
Switzerland/CH
Entry Deleted Capital
21.03.2006 Share
Capital CHF 5,000,000, paidup CHF 5,000,000
10.02.2006 21.03.2006 Share Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
21.03.2006 50,000
Registered shares of CHF 100.--
10.02.2006 21.03.2006 1,000 Registered shares of CHF 100.--
Entry Deleted Activity (original Language)
10.02.2006 Achat,
vente, transport, distribution et commerce en général de tous produits
textiles, vêtements, chaussures et accessoires.
Entry Deleted Remarks (original Language)
12.02.2013 Reports:
Communication aux actionnaires: par lettre, téléfax ou télégramme.
10.02.2006 Publishing
authority: FOSC.
10.02.2006 Shares:
Restriction de transmissibilité des actions.
10.02.2006 12.02.2013 Reports: Communication aux actionnaires: lettre
ou FOSC.
Title Name
President Sean
Pettenhofer, Origin: Zürich, Switzerland, Residential address: 6045 Meggen/LU,
Switzerland, joint signature of two
Company
Secretary Olivier Kuenzler,
Origin: Walzenhausen, Switzerland, Residential address: 3000 Bern/BE,
Switzerland, joint signature of two
Director Félix Poza
Peña, Origin: Spain, Residential address: La Coruña, Spain, joint signature of
two, Registered since: 29.06.2009
Director José
Manuel Romay de la Colina, Origin: Spain, Residential address: La Coruña,
Spain, joint signature of two
Title Name
Auditor Deloitte
SA, Residential address: Lausanne, Switzerland, Id: CH-550-0159344-5,
Registered since: 12.02.2013
Title Name
Chief
Executive Officer Sean
Pettenhofer
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.01.2013 31.01.2012 31.01.2011 31.01.2010 31.01.2009
Number of months: 12 12 12 12 12
Currency: mil.
EUR mil. EUR mil. EUR mil. EUR mil.
EUR
Balance Sheet
Intangible fixed
assets 819.9 832.2
Tangible fixed
assets 4,662.4 4,063.1
Financial fixed
assets 4.0 9.5
other fixed assets 711.9 617.1
Fixed assets 6,198.2 5,521.9
Stocks 1,581.3 1,277.0
Liquid assets 3,842.9 3,466.8
Current assets 6,692.2 5,437.3
Total assets 12,890.3 10,959.2 9,826.1 8,335.4 7,776.6
Total shareholders
equity 8,481.9 7,414.8 6,423.2 5,329.2 4,721.7
Minority interests 0.0 40.8
long term debt
(financial debts) 3.7 1.5
Provisions 144.3 147.3
Other non current
liabilities 775.3 652.0
Non current
liabilities 923.4 800.8
Current
liabilities 3,485.1 2,702.8
Shareh. equity,
min. interests + liabilities 12,890.3 10,959.2
Profit and loss
account
Net sales 15,946.1 13,792.6
Operating revenue 12,526.6 11,048.0 10,407.0
Operating result 3,116.8 2,522.0 2,290.5 1,729.0 1,609.0
Result before
minority interests 1,741.3 1,322.0 1,262.0
Result for the
financial year 2,360.8 1,932.3
Cash flow
Depreciation 675.7 645.8 578.3
Notes
Cost of employees 2,234.2 1,791.6 1,703.2
Employees at year end 109,512 92,301 89,112
Offices 5,527 4,607 4,264
Offices inland 1,900 1,896
Offices abroad 2,707 2,368
Name: INDUSTRIA DE DISENO
TEXTIL SA (INDITEX)
City/Country: LA CORUNA, Spain/ES
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: INDUSTRIA DE DISENO
TEXTIL SA (INDITEX)
City/Country: LA CORUNA, Spain/ES
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct
Name: ITX Holding SA
City/Country: Fribourg/FR, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 19.04.2010)
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
02.03.2012 2012 0
02.03.2012 2011 0
02.03.2012 2010 0
09.07.2008 2008 0
09.07.2008 2007 0
09.07.2008 2006 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.