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Report No. : |
306914 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CASALE SA |
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Registered Office : |
Via Giulio Pocobelli 6, 6900 Lugano/TI |
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Country : |
Switzerland |
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Year of Establishment : |
1921 |
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Com. Reg. No.: |
501.3.018.858-1 / 1182805 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Engineering Activities and Related Technical Consultancy. |
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No. of Employees : |
40 |
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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
CASALE SA
Via Giulio
Pocobelli 6
6900 Lugano/TI
Switzerland/CH
Telephone: 091 6419200
Fax: 091
6419291
Web
site: http://www.casale.ch
E-mail: info@casale.ch
WIN
Worldbox No.: CH0010250102
VAT-No.: CHE-492.729.855 MWST
UID-No.: CHE492729855
Established: 1921
Line
of Business: Engineering/Architecture
Industry
Division: Services
Industry-code (NACE): 7112 Engineering activities and related
technical consultancy
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2014
Employees: 40
Sales: CHF 16,000,000.--
The company is able to provide, for plant
retrofits and new plants, a comprehensive range of services and products as
summarized below:
- Know-how and licensing of core
technologies
- Full range of engineering services, from
feasibility, studies to basic, FEED and detail design
- Equipment and materials supply
- Site assistance and site construction
services
- Long term assistance throughout the whole
life of a plant
Information on property ownership was not
available.
Company
No: 501.3.018.858-1 /
1182805
Legal
form: Company limited by
shares
Registration: 27.05.2014
Legal
status: active
Responsible
Register: Registro di commercio del
Cantone Ticino
History: Date of Incorporation
Statutes: 26.05.2014
Entry Deleted Name
27.05.2014 CASALE
SA
Entry Deleted Legal domicile
27.05.2014 Lugano,
Switzerland
Entry Deleted Address
27.05.2014 Pocobelli
6, 6900 Lugano/TI, Switzerland/CH
Entry Deleted Capital
27.05.2014 Share
Capital CHF 9,000,000, paidup CHF 9,000,000
Entry Deleted Capital Structure
27.05.2014 9,000
Registered shares of CHF 1,000.--
Entry Deleted Remarks
27.05.2014 Merger:
The company was formed by the merger of the companies to combine Ammonia Casale
SA, in Lugano (CHE-107.913.273), Urea Casale SA, in Lugano (CHE-107.363.125),
Methanol Casale SA, in Lugano (CHE-102.211.318) e Casale Chemicals SA, in
Lugano (CHE-103.354.073) in accordance with the merger agreement of 24.04.2014.
The company has taken : from Ammonia Casale SA (CHE- 107.913.273) according to
the financial statements at 31.12.2013, assets of CHF 228'474'990.94, and
liabilities to third parties for CHF 207'154'593.78; by Urea Casale SA
(CHE-107.363.125) according to the financial statements at 31.12.2013, assets
of CHF 295'503'454.85, and liabilities to third parties for CHF 276'043'490.32;
from Methanol Casale SA (CHE-102.211.318), according to the financial
statements at 31.12.2013, assets of CHF 128'342'755.55, and liabilities to
third parties for CHF 116'597'319.11; and Casale Chemicals SA (CHE-103.354.073)
according to the financial statements at 31.12.2013, assets of CHF
4'408'873.86, and liabilities to third parties for CHF 11'730'994.44; as
coompensation the company issued to the shareholders of the transferring
company 9,000 registered shares of CHF 1,000.00 each.
Title Name
President Valeria
Galli Butti
Citizen:
Massagno
Residential
address: Lugano, Switzerland
joint
signature of two
Registered
since: 27.05.2014
Vice-President Giuseppe Guarino
Citizen:
Lugano, Switzerland
Residential
address: Cadro (Lugano), Switzerland
joint
signature of two
Registered
since: 27.05.2014
Chief
Executive Umberto
Zardi
Citizen:
Lugano
Residential
address: Breganzona (Lugano), Switzerland
joint
signature of two
Registered
since: 27.05.2014
Director Michele
Menaballi
Citizen:
Mendrisio, Switzerland
Residential
address: Sorengo, Switzerland
joint
signature of two
Registered
since: 27.05.2014
Director Federico
Zardi
Citizen:
Lugano, Switzerland
Residential
address: Breganzona , Switzerland
joint
signature of two
Registered
since: 27.05.2014
Title Name
General
Director Giuseppe
Guarino
Citizen:
Lugano, Switzerland
Residential
address: Cadro (Lugano), Switzerland
joint
signature of two
Registered
since: 27.05.2014
Vice-Director Federico Zardi
Citizen:
Lugano, Switzerland
Residential
address: Breganzona , Switzerland
joint
signature of two
Registered
since: 27.05.2014
Title Name
Auditor Interfida
Revisioni e Consulenze SA
Residential
address: Mendrisio, Switzerland
Id:
CHE-110.225.937
Registered
since: 27.05.2014
Title Name
Chief
Executive Officer Giuseppe
Guarino
Chief
Operating Officer Federico
Zardi (f.zardi@casale.ch)
Name: Casale Holding SA
City/Country: Lugano/TI, Switzerland/CH
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Type: direct, Group-Level 1
Name: Casale Holding SA
City/Country: Lugano/TI, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 27.05.2014)
Name: CASALE IMMOBILIARE SA
City/Country: Lugano/TI, Switzerland/CH
Name: Chemoproject Nitrogen
a.s.
City/Country: Prague, Czech/CZ
Name: Promozione Casale
Immobiliare SA
City/Country: Lugano/TI, Switzerland/CH
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.
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.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.