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Report No. : |
327465 |
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Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR INSURANCE SA |
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|
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Registered Office : |
Rue des Battoirs 7, 1205 Genève/GE |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.06.1981 |
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|
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Com. Reg. No.: |
660.0.255.981-3 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject is engaged in Financial services |
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No of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
CHF 40,000 |
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|
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 |
Anchor Insurance SA
Rue des Battoirs 7
1205 Genève/GE
Switzerland/CH
Telephone: 022
3000435
Fax: 022
3015470
Web
site: http://www.anchorinsurance.nl
E-mail: info@anchorinsurance.nl
WIN
Worldbox No.: CH0002445115
UID-No.: CHE103212154
Established: 1981
Line
of Business: Financial services
Industry
Division: Services
Industry-code (NACE): 6499 Other financial service activities,
except insurance and pension funding n.e.c.
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 4
Sales: CHF 0-1 Mio
The business activities include services of
an insurance broker company for wholesale and retail trade with a focus on the
Maritime industry. Services are insurance consultations and risk management for
shipyards, shipping companies, terminal owners, port authorities, carriers and
distributors.
Information on property ownership was not
available.
Company
No: 660.0.255.981-3
UID-No.: CHE103212154
Legal
form: Company limited by
shares
Registration: 04.06.1981
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Genève
History: Date of Statutes:
20.11.1992
Date of
Statutes: 10.11.2014
Date of
Statutes: 22.12.2011
Date of
Statutes: 29.02.2000
Entry Deleted Name
active Anchor
Insurance SA
removed Anker Insurance Management SA
Entry Deleted Legal domicile
14.11.2014 Genève,
Switzerland
14.11.2014 Carouge (GE), Switzerland
Entry Deleted Address
14.11.2014 rue
des Battoirs 7, 1205 Genève/GE, Switzerland/CH
24.06.1996 cours de Rive 14, c/SAGEM, Société Anonyme de
Gérance et de Management, Genève, Switzerland/CH
29.03.2000 14.11.2014 route des Acacias 54, 1227 Carouge (GE),
Switzerland/CH
24.06.1996 29.03.2000 rue des Bains 35, Genève, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 700,000, paidup CHF 700,000
Entry Deleted Capital Structure
active 700
Registered shares with restricted transferability of CHF 1,000.--
Title Name
President Robert
Bernard Baron Mackay
Citizen:
Netherlands
Residential
address: Broek in Waterland, Netherlands
joint
signature of two
Registered
since: 27.04.2015
Director William
Dennis Laneville
Citizen:
Troinex, Switzerland
Residential
address: Troinex, Switzerland
single
signature
Registered
since: 27.04.2015
Director Jean-Claude
Roder
Citizen:
Wengi, Switzerland
Residential
address: Versoix, Switzerland
joint
signature of two
Title Name
Auditor Ernst
& Young SA
Residential
address: Lancy, Switzerland
Name: VITOL HOLDING II S.A.
City/Country: Luxembourg, Luxembourg/LU
Consolidation: consolidated (Segment)
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: th.
USD th. USD th. USD th. USD th.
USD
Statement norm: IAS
Balance Sheet
Intangible fixed
assets 53,557.0 41,053.0 39,169.0 23,841.0 209,474.0
Other tangible
fixed assets 812,639.0 598,876.0 193,455.0 379,412.0 939,369.0
Tangible fixed
assets 812,639.0 598,876.0 193,455.0 379,412.0 939,369.0
Financial fixed
assets 2,663,298.0 1,880,625.0 1,356,258.0 1,363,721.0 820,170.0
other fixed assets 20,731.0 54,591.0 30,215.0 24,482.0 39,207.0
Fixed assets 3,550,225.0 2,575,145.0 1,619,097.0 1,791,456.0 2,008,220.0
Stocks 10,448,471.0 10,519,164.0 9,816,310.0 11,090,351.0 11,324,105.0
Trade accounts
receivable 10,304,401.0 10,522,666.0 12,414,871.0 8,462,958.0 6,153,583.0
Cash & Cash
Equivalents 2,355,830.0 3,692,028.0 1,396,623.0 2,744,379.0 2,149,242.0
Securities 55,308.0 23,239.0
other trade
accounts 6,000,349.0 4,289,872.0 3,486,667.0 3,359,816.0 3,951,508.0
Accruals 2,405,336.0 2,477,880.0 2,054,038.0 3,122,138.0 2,072,586.0
Other current
assets 10,761,515.0 10,459,780.0 6,937,328.0 9,281,641.0 8,196,575.0
Current assets 31,514,387.0 31,501,610.0 29,168,509.0 28,834,950.0 25,674,263.0
Total assets 35,064,612.0 34,076,755.0 30,787,606.0 30,626,406.0 27,682,483.0
Capital 5,789.0 7,117.0 6,637.0 5,219.0 5,604.0
Other shareholders
funds 8,737,485.0 7,996,423.0 7,772,549.0 6,859,948.0 6,841,290.0
Total shareholders
equity 8,743,274.0 8,003,540.0 7,779,186.0 6,865,167.0 6,846,894.0
Minority interests 70,370.0 18,672.0 45,171.0 40,445.0 24,169.0
long term debt
(financial debts) 2,222,883.0 1,172,266.0 1,146,904.0 588,678.0 1,285,668.0
Provisions 63,337.0 62,856.0 59,950.0 66,684.0 93,433.0
Other non current
liabilities 20,798.0 7,267.0 762.0 10,033.0 18,186.0
Non current
liabilities 2,307,018.0 1,242,389.0 1,207,616.0 665,395.0 1,397,287.0
short term debt
(financial debts) 5,561,247.0 5,183,032.0 3,484,784.0 5,199,565.0 5,352,383.0
Trade accounts
payable 11,260,251.0 10,608,322.0 10,134,198.0 10,635,573.0 6,587,237.0
Provisions 336,986.0 441,531.0 448,725.0
Accruals 2,328,802.0 4,253,039.0 3,627,598.0 1,763,357.0 1,305,771.0
other accounts
payable 4,456,664.0 4,326,230.0 4,060,328.0 5,456,904.0 6,168,742.0
other current
liabilities 7,122,452.0 9,020,800.0 8,136,651.0 7,220,261.0 7,474,513.0
Current
liabilities 23,943,950.0 24,812,154.0 21,755,633.0 23,055,399.0 19,414,133.0
Shareh. equity,
min. int. & liabilities 35,064,612.0 34,076,755.0 30,787,606.0 30,626,406.0 27,682,483.0
Profit and loss account
Net sales 306,991,311.0 302,748,187.0 296,717,244.0 206,164,643.0 143,944,052.0
Other operating
revenue 307,842.0 16,656.0 326,890.0 15,784.0
Operating revenue 307,299,153.0 302,748,187.0 296,733,900.0 206,491,533.0 143,959,836.0
Cost of goods sold 305,775,456.0 300,674,522.0 294,319,071.0 203,834,031.0 140,106,940.0
Gross profit 1,523,697.0 2,073,665.0 2,414,829.0 2,657,502.0 3,852,896.0
Other operating
expenses 795,906.0 888,760.0 823,666.0 777,393.0 955,784.0
Operating result 727,791.0 1,184,905.0 1,591,163.0 1,880,109.0 2,897,112.0
Interest revenues 164,709.0 105,395.0 108,847.0 78,791.0 119,251.0
other financial
revenues 277,389.0 205,935.0 521,171.0 85,935.0 89,181.0
Financial income 442,098.0 311,330.0 630,018.0 164,726.0 208,432.0
Interest expenses 226,522.0 171,041.0 189,286.0 273,915.0 234,696.0
other financial
expenses 125,623.0 75,552.0 100,104.0 52,869.0 24,773.0
Financial expenses 352,145.0 246,593.0 289,390.0 326,784.0 259,469.0
Financial result 89,953.0 64,737.0 340,628.0 -162,058.0 -51,037.0
Result before
extraordinary items 817,744.0 1,249,642.0 1,931,791.0 1,718,051.0 2,846,075.0
Extraordinary
Result 0.0 0.0 0.0 0.0 0.0
Result before
taxes 817,744.0 1,249,642.0 1,931,791.0 1,718,051.0 2,846,075.0
Taxes -19,549.0 169,776.0 230,527.0 191,882.0 556,435.0
Result before
minority interests 837,293.0 1,079,866.0 1,701,264.0 1,526,169.0 2,289,640.0
minority interests 587.0 17,086.0 40,079.0 43,536.0 16,315.0
Result for the
financial year 836,706.0 1,062,780.0 1,661,185.0 1,482,633.0 2,273,325.0
Cash flow
Depreciation 118,666.0 97,849.0 52,619.0 76,521.0 114,104.0
Cash flow 955,959.0 1,177,715.0 1,753,883.0 1,602,690.0 2,403,744.0
Cash flow from
operating activities -2,318,030.0 2,286,721.0 521,721.0 2,530,386.0 -1,560,877.0
Investments in
tangible fixed assets 398,693.0 496,659.0 43,838.0 312,827.0 240,850.0
Cash flow from
investing activities -410,254.0 -829,557.0 716,800.0 386,232.0 -331,509.0
Cash flow from
financing activities 1,393,632.0 836,075.0 -2,523,059.0 -2,372,232.0 2,817,192.0
Others -8,000.0
Change in
liquidity -1,334,652.0 2,293,239.0 -1,292,538.0 544,386.0 924,806.0
Liquidity at
beginning of the year 3,685,267.0 1,392,028.0 2,684,566.0 2,140,180.0 1,215,374.0
Liquidity at end
of the year 2,350,615.0 3,685,267.0 1,392,028.0 2,684,566.0 2,140,180.0
Cost of employees 491,978.0 630,437.0 619,027.0
Added value 1,654,910.0 2,148,969.0 2,792,723.0 2,068,487.0 3,194,875.0
Working Capital 9,492,621.0 10,433,508.0 12,096,983.0 8,917,736.0 10,890,451.0
Net Current Assets 7,570,437.0 6,689,456.0 7,412,876.0 5,779,551.0 6,260,130.0
Sales per Employee 149,024.9 143,414.6 161,347.1
Gross cost total 1,139,047.0 835,122.0 343,141.0 521,581.0 1,244,402.0
Employees average 2,060 2,111 1,839
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
2
Name: VITOL HOLDING II S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: indirect, Group-Level
3
Name: Vitol Holding BV
City/Country: Rotterdam, Netherlands/NL
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct
Name: Vitol Insurance BV
City/Country: Rotterdam, Netherlands/NL
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.
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.
Note: The company is not subject to VAT.
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
appears to be good.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
Maximum
Credit: CHF 40,000.--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.50 |
|
|
1 |
Rs. 100.93 |
|
Euro |
1 |
Rs. 72.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.