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Report No. : |
330332 |
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Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SILCO SA |
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Registered Office : |
Rue Pierre-Fatio 15, 1204 Genève/GE |
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Country : |
Switzerland |
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Date of Incorporation : |
14.05.1998 |
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Com. Reg. No.: |
660.0.944.998-0 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
The company procures and sells textile, plastic raw materials and sources automotive part and components. |
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No. of Employees : |
15 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
SILCO SA
Rue Pierre-Fatio 15
1204 Genève/GE
Switzerland/CH
Telephone: 022 7074860
Fax: 022 7074879
Web site: http://www.silcotex.com
E-mail: naciman@silco.ch
WIN Worldbox No.: CH0000106279
VAT-No.: CHE-104.526.170 MWST
UID-No.: CHE104526170
Established: 1998
Line of Business: Trade brokers
Industry Division: Wholesale trade
Industry-code (NACE): 4616 Agents
involved in the sale of textiles, clothing, fur, footwear and leather goods
4614 Agents involved in the sale of machinery,
industrial equipment, ships and aircraft
4618 Agents specialised in the sale of other
particular products
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: estimated
Financial year: 2015
Employees: 15
Sales: CHF 100-200 Mio
The company
procures and sells textile, plastic raw materials and sources automotive part
and components. With its headquarters located in Switzerland, the textile
business line of the company has branches and subsidiaries in its main markets
Turkey, Morocco and Algeria.
Branches Turkey:
Buttim Plaza 24.Kat No:1683
16250 Bursa
Tel: +90 224 211 30 26 - 27 - 28
Fax: +90 224 211 20 84
Keresteciler Sitesi,Mehmet Akif Cad.
Taflan Sok.Uras Iş Merkezi No:2 Daire:8
Merter - Istanbul 34169
Tel: +90 (212) 644 67 87
Fax: +90 (212) 644 67 84
Real Estate: The company does not appear to
own any property.
Company No: 660.0.944.998-0
UID-No.: CHE104526170
Legal form: Company limited by shares
Registration: 14.05.1998
Legal status: active
Responsible Register: Registre du commerce du canton de Genève
History: Date of Incorporation
Statutes: 11.05.1998
Entry Deleted Name
14.05.1998 SILCO SA
Entry Deleted Legal domicile
14.05.1998 Genève, Switzerland
Entry Deleted Address
02.12.2002 Rue Pierre-Fatio 15, 1200
Genève/GE, Switzerland/CH
14.05.1998 02.12.2002 boulevard
Helvétique 36, 1200 Genève/GE, Switzerland/CH
Entry Deleted Capital
14.05.1998 Share Capital CHF 1,400,000,
paidup CHF 1,400,000
Entry Deleted Capital Structure
14.05.1998 1,400 Bearer shares of CHF
1,000.--
Title Name
President, Chief Executive Claude Nahum
Citizen: Genève,
Switzerland
Residential address:
Founex, Switzerland
joint signature of
two
Director Nissim
Acimann
Citizen: Lausanne,
Switzerland
Residential
address: Cologny, Switzerland
joint signature of
two
Director Lionel
Halpérin
Citizen: Genève,
Switzerland
Residential
address: Collonge-Bellerive, Switzerland
joint signature of
two
Registered since:
17.09.2014
Director Aksel
Kahmi
Citizen: Genève,
Switzerland
Residential
address: Genève/GE, Switzerland
joint signature of
two
Director Inan Kiraç
Citizen: Turkey
Residential address:
Istanbul, Turkey
joint signature of
two
Director Ipek Kiraç
Citizen: Turkey
Residential
address: Istanbul, Turkey
joint signature of
two
Registered since:
09.02.2012
Title Name
Member with procuration Leyla Elçi-Yigitbasi
Citizen: Versoix,
Switzerland
Residential
address: Cologny, Switzerland
joint power of
attorney of two
Registered since:
19.12.2012
Member with procuration Sinangil Hacer Tunçelli
Citizen: Pully,
Switzerland
Residential
address: Pully, Switzerland
joint power of
attorney of two
Registered since:
19.12.2012
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Genève, Switzerland
Registered since:
12.03.2002
Name: SILCOLUX S.A.
City/Country: Luxembourg, Luxembourg/LU
No. of Owner/-s: 1
Owner: The company is foreign owned.
Class: 100%
Type: direct, Group-Level 1
Name: SILCOLUX S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: NITORA Handels GmbH
City/Country: Wien, Austria/AT
Interest: 100,00% voting right,
100,00% capital interest (since 02.02.2010)
Class: 100%
Name: SILCO POLYMERS SA
City/Country: Genève/GE, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Balance sheet publication:
The subject company does not publish balance sheet or turnover figures.
Control
date Year No. Amount
CHF Status
16.07.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
08.08.2008 2008 0 Legal
actions
31.12.2007 2007 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 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 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.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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 |
|
|
-- |
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.