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Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
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Name : |
LUWA AIR ENGINEERING AG |
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Registered Office : |
Weiherallee 11 A 8610 Uster/ZH |
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Country : |
Switzerland |
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Year of Establishment : |
1935 |
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Com. Reg. No.: |
020.3.028.340-1 / 777650 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
· Manufacture of non-domestic cooling and ventilation equipment · Engineering activities and related technical consultancy |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
Luwa Air
Engineering AG
Weiherallee 11 a
8610 Uster/ZH
Switzerland/CH
Telephone: 044
9431100
Fax 044
9431101
Web
site: http://www.luwa.com
E-mail: info@luwa.com
WIN
Worldbox No.: CH0006538914
VAT-No.: CHE112154099
Established: 1935
History: 2004: Limited company
1935: Established from Hans C. Bechtler + Walter
A. Bechtler
Line
of Business: Machinery,
Engineering/Architecture
Industry
Division: Manufacturing, Services
Industry-code (NACE): 2825 Manufacture of non-domestic cooling and
ventilation equipment
7112 Engineering activities and related
technical consultancy
Import/Export: Export
Quality
certification: ISO 9001
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2014
Employees: 50
Sales: CHF 20,000,000.--
The business includes the manufacture and
implementation of filtering- and conditioners-systems and solutions for the textile
and other industries. The fields of activity: Textile Air Engineering,
Industrial Air Engineering, Eco Engineering, Control Engineering.
Countries: Europe, Africa, Central and South
America, Middle East, CIS States
Representations in over 75 countries
worldwide
Real
Estate: The company owns
buildings.
Company
No: 020.3.028.340-1 / 777650
Legal
form: Company limited by
shares
Registration: 20.12.2004
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich
History: Date of Statutes:
18.07.2007
Date of
Statutes: 12.06.2006
Date of
Statutes: 01.12.2005
Date of
Incorporation Statutes: 10.12.2004
Entry Deleted Name
31.07.2007 Luwa
Air Engineering AG
31.07.2007 Luwa Air
Engineering SA (Name translated)
31.07.2007 Luwa
Air Engineering Ltd (Name translated)
09.12.2005 31.07.2007 Luwa Textile Air Engineering AG
09.12.2005 31.07.2007 Luwa Textile Air Engineering Ltd (Name
translated)
09.12.2005 31.07.2007 Luwa Textile Air Engineering SA (Name
translated)
20.12.2004 09.12.2005 Hesta Verwaltungs AG
Entry Deleted Legal domicile
20.12.2004 Uster,
Switzerland
Entry Deleted Address
22.10.2009 Weiherallee
11 a, 8610 Uster/ZH, Switzerland/CH
20.12.2004 22.10.2009 Wilstrasse 11, 8610 Uster/ZH, Switzerland/CH
Entry Deleted Capital
16.06.2006 Share
Capital CHF 950,000, paidup CHF 950,000
20.12.2004 16.06.2006 Share Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
16.06.2006 950,000
Registered shares of CHF 1.--
20.12.2004 16.06.2006 100,000 Registered shares of CHF 1.--
Entry Deleted Branches
10.03.2006 13.01.2010 Luzernerstrasse 15, 5630 Muri/AG,
Switzerland/CH
Title Name
President Raimund
König, Origin: Germany, Residential address: Grünwald, Germany, joint signature
of two, Registered since: 15.05.2007
Director Magnus U.
Sedlmayr, Origin: Germany, Residential address: Hombrechtikon, Switzerland,
single signature, Registered since: 17.06.2014
Director Thomas
Trauttmansdorff, Origin: Austria, Residential address: München, Germany, joint
signature of two, Registered since: 15.05.2007
Title Name
Member
with signing authority Gottfried
Abrell, Origin: Germany, Residential address: 8124 Maur/ZH, Switzerland, joint
signature of two, Registered since: 16.04.2008
Member
with signing authority Peter
Fallegger, Origin: Hasle, Switzerland, Residential address: 8610 Uster/ZH,
Switzerland, joint signature of two, Registered since: 09.12.2005
Member
with signing authority Roberto Manuel
Marti Fernandez, Origin: Spain, Residential address: Hinwil, Switzerland, joint
signature of two, Registered since: 17.01.2011
Member
with signing authority Markus
Schraner, Origin: Zürich, Sulz, Switzerland, Residential address: 5624
Bünzen/AG, Switzerland, joint signature of two, Registered since: 09.12.2005
Member
with signing authority Martin Weber,
Origin: Zürich, Switzerland, Residential address: Wallisellen, Switzerland,
joint signature of two, Registered since: 31.10.2007
Title Name
Auditor BDO AG,
Residential address: Zürich, Switzerland, Id: CH-020.3.927.906-5
Title Name
Chief
Executive Officer Gottfried
Abrell
Chief
Financial Officer Roberto
Manuel Marti Fernandez
Consolidation: unconsolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010
Number of months: 12 12 12
Currency: th.
EUR th. EUR th. EUR
Result before
minority interests -517.0 131.0 642.0
Total shareholders
equity 2,682.0 3,177.0 2,972.0
Name: Grünwald Equity
Beteiligungs GmbH
City/Country: Grünwald/Bayern, Germany/DE
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct
Name: Luwa Air Engineering
Beteiligungs GmbH
City/Country: Grünwald/Bayern, Germany/DE
Interest: 100,00% voting right,
100,00% capital interest (since 09.05.2007)
Class: 50-100%
Type: indirect, Group-Level
1
Name: Grünwald Equity
Beteiligungs GmbH
City/Country: Grünwald/Bayern, Germany/DE
Interest: 79,20% voting right,
79,20% capital interest (since 31.10.2006)
Name: Luwa Air Engineering
Ltd.
City/Country: Shanghai, China/CN
Name: Luwa Air Engineering
(Pte) Ltd.
City/Country: Singapore, Singapore/SG
Name: Luwa India Private
Limited
City/Country: Bangalore/Karnataka, India/IN
Class: 100%
Name: Luwa Air Engineering
Ltd.
City/Country: Shanghai, China/CN
Interest: 100,00% voting right,
100,00% capital interest (since 2003)
Class: 100%
Name: Luwa Air Engineering
(Pte) Ltd.
City/Country: Singapore, Singapore/SG
Interest: 100,00% voting right,
100,00% capital interest (since 1969)
Control date Year No. Amount CHF Status
18.08.2009 2009 0
18.08.2009 2008 0
18.08.2009 2007 0
18.08.2009 2006 0
18.08.2009 2005 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
appears to be good.
Payment
experiences: Financial obligations are
met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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|
Report Prepared
by : |
NIT |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.