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Report No. : |
336190 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TEAG TEXTIL-EMBALLAGEN AG |
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Registered Office : |
Reinacherstrasse 101, 4018 Basel/BS |
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Country : |
Switzerland |
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Year of Establishment : |
1914 |
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Com. Reg. No.: |
270.3.013.931-5 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
The business activities includes the development, production and distribution
of packaging materials and packaging bags. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
Unknown |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with ongoing economic instability in Russia and other eastern European economies continue to pose a significant risk to the Swiss economy, driving up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the Euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. 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 from 2011-14.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.
|
Source
: CIA |
TEAG
TEXTIL-EMBALLAGEN AG
Operating
address:
Reinacherstrasse
101
4018 Basel/BS
Switzerland/CH
Telephone: 061
3378989
Fax: 061
3378980
Web
site: http://www.teag.ch
E-mail: info@teag.ch
WIN
Worldbox No.: CH0007574524
VAT-No.: CHE-113.740.957 MWST
UID-No.: CHE113740957
Established: 1914
History: 1934: Limited company
Line
of Business: Textiles/flooring
Industry
Division: Manufacturing
Industry-code (NACE): 1399 Manufacture of other textiles n.e.c.
Import/Export: Export
Quality
certification: ISO 9001 (since 1994)
Banks: UBS Ltd
Coverage: Company
Figures: approximately
Financial
year: 2015
Employees: 20
Sales: CHF 4,500,000.--
The business activities includes the
development, production and distribution of packaging materials and packaging
bags.
The company offers following products:
Cloth: Jutecloth, Polypropylen−cloth,
Jute erosion protection, Carpet backing cloth in Jute and Polypropylen, Glass
fabrics, Cotton cloth.
Bags: Bags from Polypropylen cloth, Big−Bags
single and multi trip, Paperbags, Jutebags, Raschel− / Net bags,
LiquiDrums, Polyethylen bags, Cotton bags.
Non wovens and complexes in glass: Non woven
in Glassfibres, Complexes in glassfibres.
Yarns: Jute yarn, Harvest yarns,
Polypropylen − multifilament.
Real
Estate: The company owns
no property.
Company
No: 270.3.013.931-5
UID-No.: CHE113740957
Legal
form: Company limited by
shares
Registration: 19.07.2007
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Basel-Stadt
History: Date of Statutes:
18.07.2007
Date of
Incorporation Statutes: 26.06.2007
Entry Deleted Name
19.07.2007 TEAG
Textil-Emballagen AG
19.07.2007 TEAG
Emballages Textiles SA (Name translated)
Entry Deleted Legal domicile
19.07.2007 Basel,
Switzerland
Entry Deleted Address
19.07.2007 Reinacherstrasse
101, 4053 Basel/BS, Switzerland/CH
Entry Deleted Capital
19.07.2007 Share
Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
19.07.2007 160
Registered shares of CHF 500.--
19.07.2007 200
Registered shares (voting shares) of CHF 100.--
Title Name
President Fabian
Günzburger
Citizen:
Basel, Switzerland
Residential
address: Aesch/BL, Switzerland
single
signature
Registered
since: 19.07.2007
Director Heidi Günzburger
Citizen:
Basel, Switzerland
Residential
address: Aesch/BL, Switzerland
single
signature
Registered
since: 19.07.2007
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Basel, Switzerland
Registered
since: 19.07.2007
Owner: The company is in
family ownership.
It is believed that the company has no
investments.
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Official bankruptcy reports:
No bankruptcy publications available on the
subject.
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.
The company is not listed in the
WorldCompliance database.
Payment experiences from pre-legal
collection cases:
No payment experiences from pre-legal
collection cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection
cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of
payment and the business conduct.
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: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.92 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
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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 |
|
|
-- |
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.