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Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
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Name : |
MERCURY DISTRIBUTION SA |
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Registered Office : |
c/o FIDUCIOR SA Rue de Saint-Léger 19 Case postale 3257 1211 Genève 3/GE |
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Country : |
Switzerland/CH |
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Date of Incorporation : |
18.07.1996 |
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Com. Reg. No.: |
660.1.170.996-7 / 380906 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The business activities are the sale of clocks, watches and jewellery. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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 |
MERCURY DISTRIBUTION SA
Operating address:
c/o FIDUCIOR SA
Rue de Saint-Léger 19
Case postale 3257
1211 Genève 3/GE
Switzerland/CH
Telephone: 022 3160600
Fax: 022 3160606
VAT-No.: CHE108501223
Established: 1996
Line of Business: Consumer
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4648 Wholesale of watches and jewellery
4649 Wholesale of other household goods
Import/Export: Import,
Export
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 4
The business activities are the sale of clocks, watches and jewellery.
The company also operates a unit in Russia.
Information on property ownership was not available.
Company No: 660.1.170.996-7
/ 380906
Legal form: Company
limited by shares
Registration: 18.07.1996
Legal status: active
Responsible Register: Registre du
commerce du canton de Genève
History: Date
of Incorporation Statutes: 09.07.1996
Entry Deleted Name
18.07.1996 Mercury
Distribution SA
Entry Deleted Legal domicile
18.07.1996 Genève,
Switzerland
Entry Deleted Address
04.02.2011 c/o
FIDUCIOR SA, Rue de Saint-Léger, 1204 Genève/GE, Switzerland/CH
18.07.1996 04.02.2011 c/o Fiducior SA, Fiduciaire et de
Gestion, rue du Rhône 43, 1200 Genève/GE, Switzerland/CH
Entry Deleted Capital
18.07.1996 Share
Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
18.07.1996 100
Bearer shares of CHF 1,000.--
Title Name
President Henri-Jean Dubois-Ferrière, Origin: Meyrin,
Switzerland, Residential address: 1248 Hermance/GE, Switzerland, born:
28.05.1947, joint signature of two
Vice-President Xavier Pellaud, Origin: Bovernier, Switzerland, Residential
address: 1200 Genève/GE, Switzerland, born: 26.06.1964, joint signature of two,
Registered since: 21.06.2010
Company Secretary Alain Jeangros, Origin: Veyrier, Switzerland, Residential
address: 1255 Veyrier/GE, Switzerland, born: 25.02.1960, joint signature of two
Title Name
Director Viktor Chalilow, Origin: Sarnen,
Switzerland, Residential address: Vernier, Switzerland, joint signature of two,
Registered since: 25.05.2012
Title Name
Auditor Experco
Patrenaires SA, Residential address: Genève, Switzerland
Owner: The company is privately
owned.
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
23.11.2012 2012 0
23.11.2012 2011 0
23.11.2012 2010 0
23.11.2012 2009 0
31.12.2008 2008 0
31.12.2007 2007 0
31.12.2006 2006 1 121,075.-- Opposition filed
31.12.2005 2005 0
31.12.2004 2004 0
31.12.2003 2003 0
05.11.2002 2002 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
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 difficult to assess.
Payment experiences: Financial
obligations are paid promptly.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
|
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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.