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Report No. : |
329444 |
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Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
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Name : |
GUNVOR SA |
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Registered Office : |
Rue du Rhône 80-84, 1204 Genève/GE, Switzerland/CH |
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Country : |
Switzerland
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
660.2.734.005-4 |
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Legal Form : |
Company Limited By Shares |
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Line of Business : |
Subject is engaged in trader, the company offers integrated trading products
and logistics services for all the companies on the global oil and energy
markets. |
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No. of Employees : |
190 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
CHF 2,000,000 |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 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 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 continues 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 of 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 during 2011-13. In recent
years, Switzerland has responded to increasing pressure from neighboring
countries and trading partners, including the EU, the US, and international
institutions to reform its banking secrecy laws. In response to that
international pressure, the Swiss government has agreed 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, while
openly considering the possibility of imposing taxes on bank deposits held by
foreigners.
|
Source
: CIA |
GUNVOR SA
Rue du Rhône 80-84
1204 Genève/GE
Switzerland/CH
Telephone: 022
7187900
Fax: 022
7187929
Web site: http://www.gunvorgroup.com
E-mail: info@gunvortrade.ch
WIN Worldbox No.: CH0006993027
VAT-No.: CHE-181.900.362
MWST
UID-No.: CHE112675659
Established: 2000
Line of Business: Trade
brokers
Industry Division: Wholesale
trade
Industry-code (NACE): 4612 Agents involved in the sale of fuels, ores,
metals and industrial chemicals
Import/Export: Agency
Banks: CS
Credit Suisse
Banque
Paribas (Suisse) SA
Coverage: Company
Figures: estimated
Financial year: 2015
Employees: 190
Sales: CHF 10 Bil +
As a commodities trader, the company offers integrated trading products
and logistics services for all the companies on the global oil and energy
markets.
Gunvor serves an important role in helping to smooth worldwide energy
markets. They source crude oil and refined oil products from more than 35
countries, have industrial assets worth in excess of US $2 billion, and work
with more than 75 global financial institutions, balanced across Asia-Pacific,
the Americas, the Middle East and Europe.
Information on property ownership was not available.
Company No: 660.2.734.005-4
UID-No.: CHE112675659
Legal form: Company
Limited By Shares
Registration: 14.12.2005
Legal status: active
Responsible Register: Registre du
commerce du canton de Genève
History: Date
of Statutes: 21.06.2011
Date
of Statutes: 31.01.2011
Date
of Statutes: 19.12.2008
Date
of Incorporation Statutes: 06.12.2005
Entry Deleted Name
03.02.2011 Gunvor
SA
03.02.2011 Gunvor
AG (Name translated)
03.02.2011 Gunvor
Ltd (Name translated)
14.12.2005 03.02.2011 Castor Petroleum Ltd.
Entry Deleted Legal domicile
14.12.2005 Genève,
Switzerland
Entry Deleted Address
03.02.2011 Rue
du Rhône 80-84, 1204 Genève/GE, Switzerland/CH
14.12.2005 03.02.2011 Rue du Marché 38, 1200 Genève,
Switzerland/CH
Entry Deleted Capital
21.06.2011 Share
Capital CHF 170,000,000, paidup CHF 170,000,000
14.12.2005 21.06.2011 Share Capital CHF 5,096,700, paidup CHF
5,096,700
Entry Deleted Capital Structure
21.06.2011 17,000,000
Registered shares of CHF 10.--
14.12.2005 21.06.2011 509,670 Registered shares of CHF 10.--
Title Name
President Timothy Legge
Citizen: United Kingdom
Residential address:
Bardonnex, Switzerland
joint signature of two
Registered since:
13.02.2009
Vice-President Gerhard Auer
Citizen: Carouge,
Switzerland
Residential address:
Bernex, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Edgar Hagmann
Citizen: Däniken,
Switzerland
Residential address:
Brunnen, Switzerland
joint signature of two
Registered since:
11.08.2011
Director Olivier Péclard
Citizen: Pailly,
Switzerland
Residential address:
Collonge-Bellerive, Switzerland
joint signature of two
Registered since: 05.07.2013
Title Name
Director Homan Amiry
Citizen: United Kingdom
Residential address:
Meinier, Switzerland
joint signature of two
Registered since:
13.12.2012
Director Jan Christin
Citizen: Genève,
Switzerland
Residential address: Zürich,
Switzerland
joint signature of two
Registered since:
03.02.2011
Director Jacques Erni
Citizen: Volketswil,
Switzerland
Residential address:
Pully, Switzerland
joint signature of two
Registered since:
02.10.2013
Director Joël Faroux
Citizen: France
Residential address:
Veyrier, Switzerland
joint signature of two
Registered since:
21.09.2011
Director Chris Gribben
Citizen: United Kingdom
Residential address:
Meinier, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Thierry Jacot
Citizen: Genève,
Switzerland
Residential address:
Genève, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Martijn
Jongbloed
Citizen: Netherlands
Residential address:
Nyon, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Stephen Kuster
Citizen: Genève,
Switzerland
Residential address:
Vandoeuvres, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Jean-Baptiste
Leclercq
Citizen: Genève,
Switzerland
Residential address:
Meinier, Switzerland
joint signature of two
Registered since:
11.08.2011
Director Gia Mai Hoang
Citizen: Lausanne,
Switzerland
Residential address:
Denges, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Pascal Michel
Citizen: France
Residential address:
Chêne-Bougeries, Switzerland
joint signature of two
Registered since:
03.02.2011
Director Jose Miguel
Orti Baneras
Citizen: Spain
Residential address:
Lancy, Switzerland
joint signature of two
Registered since:
13.02.2009
Director Tawfik Vital
Sadfi
Citizen: Genève,
Switzerland
Residential address:
Genève, Switzerland
joint signature of two
Registered since:
12.02.2013
Director Theodoor
Witteveen Meindert
Citizen: Pays-Bas,
Netherlands
Residential address:
Veyrier, Switzerland
joint signature of two
Registered since:
12.02.2013
Title Name
Auditor PricewaterhouseCoopers SA
Residential address:
Genève, Switzerland
Id: CH-660-1784998-4
Registered since:
12.10.2009
Name: Gunvor Group Ltd
City/Country: Nikosia,
Cyprus/CY
No. of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level 1
Name: Gunvor Group Ltd
City/Country: Nikosia,
Cyprus/CY
Interest: 100,00% voting
right, 100,00% capital interest
Class: 100%
Type: direct
Name: Gunvor (Schweiz) AG
City/Country: Sarnen/OW,
Switzerland/CH
Interest: 100,00% voting
right, 100,00% capital interest
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
10.10.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
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 has been listed in the following sanction databases:
WorldCompliance
With the following information :
Gunvor S.A. (5834779)
Category SOE
Sub Category Govt Owned Corp
Level N/A
Data source Website
Designation N/A
Primary Country CH
Position Subsidiary of
Gunvor International B.V., PEP-owned company belonging to Torbjörn Törnqvist
National ID N/A
Other ID CHE-112.675.659
Passport # N/A
Last Updated 16/05/2015
Additional Information
Gunvor SA distributes oil and petroleum products. The company was
registered on December 14, 2005 and is based in Geneva, Switzerland. Gunvor SA
operates as a subsidiary of Gunvor International B.V.
Trade Register number: CH-660.2.734.005-4.
VAT number: CHE-112.675.659.
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.
Note: The VAT number - CHE-181.900.362 MWST - is the Group VAT number.
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
2,000,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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.