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Report No. : |
303934 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HALLIBURTON WORLDWIDE GMBH |
|
|
|
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Registered Office : |
Baarerstrasse 96, 6300 Zug/ZG |
|
|
|
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Country : |
Switzerland |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
23.03.2012 |
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|
|
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Com. Reg. No.: |
170.4.011.114-7 / 1053931 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Providing Consulting/Auditing Services. |
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No. of Employees : |
6 |
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 |
|
Maximum Credit Limit : |
CHF 50,000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
No Complaints |
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|
|
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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 – 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 |
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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 |
HALLIBURTON
WORLDWIDE GMBH
Baarerstrasse 96
6300 Zug/ZG
Switzerland/CH
Telephone: 041
7286600
Web
site: http://www.halliburton.com
WIN
Worldbox No.: CH0009365605
VAT-No.: CHE357609335
Established: 2012
Line
of Business: Consulting/Auditing
Industry
Division: Services
Industry-code (NACE): 7010 Activities of head offices
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 6
Sales: CHF 1-2 Mio
The business includes settlement of
transactions in the field of intellectual property rights in Switzerland and
abroad in favor of the consolidated group. In the name of the company they sold
contracts and agreements, leases licenses for software brands.
Real
Estate: The company does
not appear to own any property.
Company
No: 170.4.011.114-7 / 1053931
Legal
form: Limited Liability
Company
Registration: 23.03.2012
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date of Statutes:
13.11.2012
Date of
Incorporation Statutes: 16.03.2012
Entry Deleted Name
23.03.2012 Halliburton
Worldwide GmbH
Entry Deleted Legal domicile
23.03.2012 Zug,
Switzerland
Entry Deleted Address
16.01.2013 Baarerstrasse
96, 6300 Zug/ZG, Switzerland/CH
23.03.2012 16.01.2013 Baarerstrasse 14, 6300 Zug/ZG, Switzerland/CH
Entry Deleted Capital
23.03.2012 LLC
Capital CHF 20,000
Entry Deleted Capital Structure
16.01.2013 20
Participation shares of CHF 1,000.--
29.08.2012 16.01.2013 20 Participation shares of CHF 1,000.--
23.03.2012 29.08.2012 20 Participation shares of CHF 1,000.--
Title Name
General
Manager Arthur Lee
Baker
Citizen:
United States of America
Residential
address: Singapur , Singapore
joint
signature of two
Registered
since: 21.05.2013
General
Manager Stephen
Kellett
Citizen:
United Kingdom
Residential
address: Zug, Switzerland
joint
signature of two
Registered
since: 18.03.2014
General
Manager Joe Rainey
Citizen:
United States of America
Residential
address: Dubai , United Arab Emirates
joint
signature of two
Registered
since: 18.06.2013
Chairman
of the management, Chairman of the direction Stephanie
Bragg
Citizen:
United States of America
Residential
address: Walchwil, Switzerland
single
signature
Registered
since: 23.03.2012
Title Name
Auditor KPMG AG
Residential
address: Zürich, Switzerland
Id:
CH-020.3.001.933-8
Registered
since: 23.03.2012
Name: Halliburton Company
City/Country: Houston/Texas, United States of
America/US
Consolidation: consolidated
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
Balance Sheet
Intangible fixed
assets 2,168.0 2,135.0 1,776.0 1,315.0 1,100.0
Tangible fixed
assets 11,322.0 10,257.0 8,492.0 6,842.0 5,759.0
Financial fixed
assets 0.0
other fixed assets 2,029.0 1,932.0 1,832.0 1,254.0 1,041.0
Fixed assets 15,519.0 14,324.0 12,100.0 9,411.0 7,900.0
Stocks 3,305.0 3,186.0 2,570.0 1,940.0 1,598.0
Trade accounts
receivable 6,181.0 5,787.0 5,084.0 3,924.0
Liquid assets 2,356.0 2,484.0 2,698.0 1,398.0 2,082.0
Securities 150.0 653.0
other trade
accounts 1,125.0 1,629.0 1,075.0 971.0
Accruals 737.0
Other current
assets 4,218.0 4,113.0 3,923.0 3,022.0
Current assets 13,704.0 13,086.0 11,577.0 8,886.0 8,638.0
Total assets 29,223.0 27,410.0 23,677.0 18,297.0 16,538.0
Capital 3,095.0 3,168.0 3,138.0 3,013.0
Other shareholders
funds 10,486.0 12,597.0 10,060.0 7,360.0
Total shareholders equity 13,581.0 15,765.0 13,198.0 10,373.0 8,728.0
Minority interests 34.0 25.0 18.0 14.0 29.0
long term debt
(financial debts) 7,816.0 4,820.0 4,820.0 3,824.0 3,824.0
Provisions 462.0
Other non current
liabilities 2,766.0 2,048.0 1,520.0 1,329.0 606.0
Non current
liabilities 10,582.0 6,868.0 6,340.0 5,153.0 4,892.0
Trade accounts
payable 2,365.0 2,041.0 1,826.0 1,139.0
Accruals 1,029.0 930.0 862.0 716.0
other accounts
payable 1,632.0 1,781.0 1,433.0 902.0
other current
liabilities 2,661.0 2,711.0 2,295.0 1,618.0
Current liabilities 5,026.0 4,752.0 4,121.0 2,757.0 2,889.0
Shareh. equity, min. interests & liabilities 29,223.0 27,410.0 23,677.0 18,297.0 16,538.0
Profit and loss
account
Sales 29,402.0 28,503.0
Net sales 29,402.0 28,503.0 24,829.0 17,973.0 14,675.0
Operating revenue 29,402.0 28,503.0 24,829.0 17,973.0
Cost of goods sold 24,931.0 24,069.0 19,811.0 14,735.0
Gross profit 4,471.0 4,434.0 5,018.0 3,238.0
Other operating
expenses 1,333.0 314.0 281.0 229.0
Operating result 3,138.0 4,120.0 4,737.0 3,009.0 1,967.0
other financial
revenues 2.0
Financial income 2.0 0.0 0.0 0.0
Interest expenses 331.0 298.0 263.0 297.0
other financial
expenses 43.0 36.0 25.0 57.0
Financial expenses 374.0 334.0 288.0 354.0
Financial result -372.0 -334.0 -288.0 -354.0
Result before extraordinary items 2,766.0 3,786.0 4,449.0 2,655.0
Extraordinary
income 19.0 58.0
Extraordinary
Result 19.0 58.0 0.0 0.0
Result before taxes 2,785.0 3,844.0 4,449.0 2,655.0
Taxes 648.0 1,235.0 1,605.0 813.0
Result before
minority interests 2,137.0 2,609.0 2,844.0 1,842.0
minority interests 10.0 10.0 5.0 7.0
Result for the financial year 2,127.0 2,599.0 2,839.0 1,835.0 1,145.0
Cash flow
Depreciation 1,900.0 1,628.0 1,359.0 1,119.0
Cash flow 4,037.0 4,237.0 4,203.0 2,961.0
Cash flow from
operating activities 4,447.0 3,654.0 3,684.0 2,212.0
Investments in
tangible fixed assets 2,934.0 3,566.0 2,953.0 2,069.0
Cash flow from
investing activities -2,870.0 -3,688.0 -3,190.0 -1,755.0
Cash flow from
financing activities -1,754.0 -172.0 833.0 -1,114.0
Others 49.0 -8.0 -27.0 -27.0
Change in
liquidity -128.0 -214.0 1,300.0 -684.0
Liquidity at
beginning of the year 2,484.0 2,698.0 1,398.0 2,082.0
Liquidity at end
of the year 2,356.0 2,484.0 2,698.0 1,398.0
Cost of employees 8,421.0 7,722.0 6,756.0 5,370.0
Research and
Development 588.0 401.0 366.0
Added value 13,437.0 5,770.0 12,827.0 9,441.0
Working Capital 7,121.0 6,932.0 5,828.0 4,725.0
Sales per Employee 0.4 0.4 0.4 0.3
Gross cost land
and buildings 2,898.0 2,006.0 1,732.0 1,543.0
Gross cost other
tangible fixed assets 17,904.0 16,307.0 13,856.0 11,363.0
Gross cost total 20,802.0 18,313.0 15,588.0 12,906.0
Employees at year end 73,000 73,000 68,000 58,000
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Halliburton Company
City/Country: Houston/Texas, United States of
America/US
Interest: 100,00% voting right,
100,00% capital interest (since 23.03.2012)
Class: 100%
Type: direct
Name: Halliburton Global
Affiliates Holdings B.V
City/Country: Netherlands/NL
Capital
share: CHF 20,000.--
Interest: 100,00% voting right,
100,00% capital interest (since 16.01.2013)
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 good.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
Maximum
Credit: CHF 50,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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.