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Report No. : |
330297 |
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Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
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Name : |
CWC TEXTIL AG |
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Registered Office : |
Hotzestrasse 29, 8006 Zürich/ZH |
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Country : |
Switzerland |
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Date of Incorporation : |
30.08.1973 |
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Com. Reg. No.: |
020.3.906.151-6 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
The business activities include the sales of industrial yarns (Cotton
yarns, organic yarns, synthetic yarns as well as wool and special yarns). |
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No. of Employees : |
8 |
RATING & COMMENTS
|
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 |
CWC TEXTIL AG
Hotzestrasse 29 Postal
address:
8006 Zürich/ZH Postfach
Switzerland/CH 8042
Zürich/ZH
Switzerland/CH
Telephone: 044
3687080
Fax: 044
3687081
Web
site: http://www.cwc.ch
E-mail: cwc@cwc.ch
WIN
Worldbox No.: CH0000022144
VAT-No.: CHE-101.259.239 MWST
UID-No.: CHE101259239
Established: 1871
History: 1973: Limited company
1871: Established from Johann Jakob Frey
Line
of Business: Consumer goods wholesale,
Financial services
Industry
Division: Wholesale trade,
Services
Industry-code (NACE): 4641 Wholesale of textiles
6420 Activities of holding companies
Import/Export: Export
Export
sales: 85,0%
Banks: CS Credit Suisse
UBS Ltd
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 8
Sales: CHF 10-20 Mio
The business activities includes the sales
of industrial yarns (Cotton yarns, organic yarns, synthetic yarns as well as
wool and special yarns).
Information on property ownership was not
available.
Company
No: 020.3.906.151-6
UID-No.: CHE101259239
Legal
form: Company limited by
shares
Registration: 30.08.1973
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich
History: Date of Statutes:
06.11.1981
Date of
Statutes: 04.07.2014
Date of
Statutes: 03.12.1996
Entry Deleted Name
active CWC
Textil AG
Entry Deleted Legal domicile
active Zürich,
Switzerland
Entry Deleted Address
active Hotzestrasse
29, 8006 Zürich, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 1,000,000, paidup CHF 1,000,000
Entry Deleted Capital Structure
14.07.2014 908
Registered shares of CHF 1,000.--
14.07.2014 920 Registered
shares (voting shares) of CHF 100.--
12.12.1996 14.07.2014 500 Registered shares of CHF 1,000.--
12.12.1996 14.07.2014 5,000 Registered shares of CHF 100.--
Title Name
President Carl Illi
Citizen:
Zürich, Switzerland
Residential
address: Uetikon am See, Switzerland
joint
signature of two
Director Christian
Hautle
Citizen:
Appenzell, Switzerland
Residential
address: Adliswil, Switzerland
joint
signature of two
Title Name
Auditor NOVISA
Wirtschaftsprüfung AG
Residential
address: Zürich, Switzerland
Id:
CHE-107.958.063
Registered
since: 12.12.1996
Title Name
Chief
Sales Officer Carl
Illi
Chief
Purchase Officer Christian
Hautle (christian.hautle@cwc.ch)
Name: I & H Partner
Holding AG
City/Country: Zug/ZG, Switzerland/CH
Owner: The company is domestic
owned.
Class: 50-100%
Type: direct, Group-Level 1
Name: I & H Partner
Holding AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 90,80% voting right,
50,10% capital interest
Class: 50-100%
Name: Gardinenfabrik AG,
Oberuzwil
City/Country: Oberuzwil/SG, Switzerland/CH
Class: 50-100%
Name: swisstulle AG
City/Country: St. Margarethen TG/TG,
Switzerland/CH
Class: 50-100%
Name: swisstulle (Qingdao)
Co Ltd
City/Country: Qingdao, China/CN
Class: 50-100%
Name: swisstulle UK Limited
City/Country: Nottingham, United Kingdom/GB
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Control date Year No. Amount CHF Status
28.08.2012 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
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 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 World
Compliance 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.63.51 |
|
|
1 |
Rs.97.85 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
<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.