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Report No. : |
304730 |
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Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
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Name : |
CODEFINE S.A. |
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Registered Office : |
Av. Du Léman 21, Case Postale 476, 1005
Lausanne/VD |
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Country : |
Switzerland |
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Date of Incorporation : |
08.06.1959 |
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Com. Reg. No.: |
550.0.072.173-6 / 36336 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Engaged in packaging of Industrial, Agricultural, Mineral and Mining, as well as Food Grade and Pharmaceutical Products Subject product
lines are as follows:- Packaging: Bigbags, Easyliquid, Container Liners, Small Bags, Slings, Box Bags
and Technical fabrics. Textiles &
Carpets: Yarns and Fabrics in: 100% Cotton, Artificial Fibres, Synthetic Fibres and Mixed Fibres, Jute. |
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No of Employees : |
30 (2014) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Switzerland |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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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 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 |
CODEFINE S.A.
Av. du Léman 21
Case postale 476
1005 Lausanne/VD
Switzerland/CH
Telephone: 021
3458211
Fax: 021
3458210
Web
site: http://www.codefine.ch
E-mail: codefine@codefine.ch
VAT-No.: CHE107031835
Established: 1959
Line
of Business: Textiles/flooring,
Plastics
Industry
Division: Manufacturing
Industry-code (NACE): 1399 Manufacture of other textiles n.e.c.
2222 Manufacture of plastic packing goods
Import/Export: Export
Banks: UBS Ltd
Coverage: Company
Figures: estimated
Financial
year: 2014
Employees: 30
Sales: CHF 10,000,000.--
The company is active in the packaging of Industrial, Agricultural, Mineral and Mining, as well as Food Grade and Pharmaceutical Products
The company has an international network of offices and representatives.
The market covers more than 50 countries around the globe.
Products:
Packaging: Bigbags, Easyliquid, Container Liners, Small Bags, Slings,
Box Bags and Technical fabrics.
Textiles & Carpets: Yarns and Fabrics in: 100% cotton, artificial
fibres, synthetic fibres and mixed fibres, jute.
Real
Estate: It is understood
that the company owns certain property.
Company
No: 550.0.072.173-6 / 36336
Legal
form: Company limited by
shares
Registration: 08.06.1959
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Vaud
History: Date of Statutes:
24.06.1996
Date of
Incorporation Statutes: 05.06.1959
Date of
Statutes: 05.12.2008
Entry Deleted Name
active CODEFINE
S.A.
Entry Deleted Legal domicile
active Lausanne,
Switzerland
Entry Deleted Address
active Avenue
du Léman 21, 1005 Lausanne, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 540,000, paidup CHF 540,000
Entry Deleted Capital Structure
active 36
Registered shares of CHF 15,000.--
Title Name
President Paul Schinasi
Citizen:
Lausanne, Switzerland
Residential
address: Lutry, Switzerland
single
signature
President Piero
Schinasi
Citizen:
Italy
Residential
address: Epalinges, Switzerland
single
signature
Title Name
Director Paul
Schinasi
Citizen:
Lausanne, Switzerland
Residential
address: Lutry, Switzerland
single
signature
Director Piero
Schinasi
Citizen:
Italy
Residential
address: Epalinges, Switzerland
single
signature
Title Name
Auditor Fiduciaire
Favre Révision SA
Residential
address: Lausanne, Switzerland
Id:
CH-550-1052902-1
Registered
since: 28.04.2011
Owner: The company is privately owned.
Class: unknown
Type: direct
Name: Paul Schinasi
City/Country: Lutry, Switzerland/CH
Class: unknown
Type: direct
Name: Piero Schinasi
City/Country: Epalinges, 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.
Control date Year No. Amount CHF Status
17.01.2013 2013 0
31.12.2012 2012 0
31.12.2011 2011 0
04.10.2010 2010 0
31.12.2009 2009 0
31.12.2008 2008 0
31.12.2007 2007 0
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: Unknown
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
|
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 |
|
<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.