|
Report No. : |
304466 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOLMAR GROUP AG |
|
|
|
|
Registered Office : |
Baarerstrasse 18 Metalli Center 6300 Zug/ZG |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2013
(Consolidated) |
|
|
|
|
Date of Incorporation : |
03.02.1997 |
|
|
|
|
Com. Reg. No.: |
170.3.021.172-8 / 393173 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
· Subject is a “virtual” integrated Petroleum and Petrochemicals company. · Agents involved in the sale of fuels, ores, metals and industrial chemicals |
|
|
|
|
No. of Employees : |
150-249 (Group) |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
KOLMAR GROUP AG
Baarerstrasse 18
Metalli Center
6300 Zug/ZG
Switzerland/CH
Telephone: 041
7275700
Fax: 041
7275701
Web
site: http://www.kolmargroup.com
E-mail: functiontrading@kolmargroup.com
VAT-No.: CHE108565341
Established: 1997
Line
of Business: Financial services,
Trade brokers
Industry
Division: Services, Wholesale
trade
Industry-code (NACE): 6420 Activities of holding companies
4612 Agents involved in the sale of fuels,
ores, metals and industrial chemicals
Import/Export: Agency
Banks: unknown
Coverage: Group
Employees: 150-249
Sales: USD 6-8 Bil
The company is a “virtual” integrated
Petroleum and Petrochemicals company. Its product spectrum extends from heavy
Petroleum to lighter Petroleum products, a large variety of Petrochemicals and Energy
products like different biofuels and coal. The company has 20 offices in the
Far and Middle East, Europe, North and South America.
Information on property ownership was not
available.
Company
No: 170.3.021.172-8 / 393173
Legal
form: Company limited by
shares
Registration: 03.02.1997
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date of Statutes:
26.09.2011
Date of
Statutes: 02.12.2009
Date of
Statutes: 05.05.2008
Date of
Statutes: 30.11.2007
Date of
Statutes: 22.02.2007
Date of
Statutes: 27.10.2006
Date of
Statutes: 03.07.2006
Date of
Incorporation Statutes: 31.01.1997
Entry Deleted Name
26.02.2007 Kolmar
Group AG
26.02.2007 Kolmar
Group SA (Name translated)
26.02.2007 Kolmar
Group Ltd (Name translated)
03.02.1997 26.02.2007 Kolmar Petrochemicals AG
03.02.1997 26.02.2007 Kolmar Petrochemicals SA (Name translated)
03.02.1997 26.02.2007 Kolmar Petrochemicals Ltd (Name translated)
Entry Deleted Legal domicile
03.02.1997 Zug,
Switzerland
Entry Deleted Address
27.08.2012 Baarerstrasse
18, 6300 Zug/ZG, Switzerland/CH
12.05.2000 27.08.2012 Metallstrasse 9, 6304 Zug/ZG, Switzerland/CH
03.02.1997 12.05.2000 Alpenstrasse 11, 6300 Zug/ZG, Switzerland/CH
Entry Deleted Capital
03.02.1997 Share
Capital CHF 8,400,000, paidup CHF 8,400,000
Entry Deleted Capital Structure
03.02.1997 8,400
Registered shares of CHF 1,000.--
Entry Deleted Remarks
06.10.2011 Dividend
right certificates: 430 participation certificates, with rights to share in
earnings in accordance with statutes.
Title Name
President Ruth
Sandelowsky
Citizen:
Netherlands
Residential
address: Zug/ZG, Switzerland
joint
signature of two
Registered
since: 03.02.1997
Vice-President Rafael Aviner
Citizen:
Armenia
Residential
address: Weston, United States of America
joint
signature of two
Registered
since: 03.02.1997
Company
Secretary Herbert C.
Schlaubitz
Citizen:
Meikirch, Switzerland
Residential
address: Walchwil, Switzerland
joint
signature of two
Registered
since: 08.10.2004
Director Dr. Josef
Bollag
Citizen:
Endingen, Switzerland
Residential
address: Baden/AG, Switzerland
joint
signature of two
Registered
since: 05.06.2002
Director Dr. Moshe
Michael Glass
Citizen:
Zürich, Switzerland
Residential
address: Zürich/ZH, Switzerland
joint
signature of two
Registered
since: 08.10.2004
Title Name
Member
with signing authority Josef Huwyler
Citizen:
Mühlau, Switzerland
Residential
address: Mühlau, Switzerland
joint
signature of two
Registered
since: 23.01.2013
Member
with signing authority Rolf
Schultheiss
Citizen:
Feuerthalen, Switzerland
Residential
address: Zug, Switzerland
joint
signature of two
Registered
since: 19.02.2014
Member
with signing authority Chavdar Tzonev
Citizen:
Huttwil, Switzerland
Residential
address: Schwyz, Switzerland
joint
signature of two
Registered
since: 13.07.2000
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Zürich, Switzerland
Registered
since: 09.12.1998
Name: ChemCore S.A.
City/Country: Luxembourg, Luxembourg/LU
Consolidation: consolidated (Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12 12
Currency: mil.
USD mil. USD mil. USD mil. USD mil.
USD
Operating revenue 7,800.0 6,800.0 6,700.0 4,450.0 2,850.0
Employees at year end 160 190 170 170 170
Offices 20 25 23 23 20
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct, Group-Level 1
Name: ChemCore S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar Americas Inc
City/Country: Bridgeport/Connecticut, United
States of America/US
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar Fibres AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 1999)
Class: 100%
Name: Kolmar Japan KK
City/Country: Tokyo, Japan/JP
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar Singapore Pte
Ltd
City/Country: Singapore, Singapore/SG
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Kolmar UK Limited
City/Country: London/Middlesex, United
Kingdom/GB
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
20.03.2012 2012 0
20.03.2012 2011 0
20.03.2012 2010 0
19.10.2008 2008 0
19.10.2008 2007 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
is good.
Payment
experiences: Payment habits are
considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.