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Report No. : |
343563 |
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Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TESEQ AG |
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Registered Office : |
Sternenhofstrasse 15, 4153 Reinach BL/BL, Switzerland/CH |
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Country : |
Switzerland
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1962 |
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Com. Reg. No.: |
241.3.006.114-5 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
· The business activities are development, manufacture and sales of electronic devices such as EMC Test systems for emissions testing of the brand Teseq®. Other products include devices for automotive electrical interference, burst generators, clutch Networks, ESD simulators, Harmonics & Flicker, Dips, alarms & Variations, sine wave generators, ring-wave generators Surge generators, Absorbing clamps, antennas, Current Injection Probes, Current Sensing Probes, EM clamps, Impendance Stabilization Networks (ISN) line impedance stabilization networks (LISN), amplifiers, refererence sources, reverberation chambers, FH switches, software, power meters, preamplifiers, Attenuators, directional coupler, I / O interface, GTEM cells / TEM cells, strip lines and capacitive voltage probes. · Applications: Bulk current injection (BCI), Burst, Dips, alarms & Variations, Fast Transient (EFT), electrostatic discharge (ESD), Harmonics & Flicker, oscillatory Waves, Setup Verification, Ring Waves, Surge, Transit Emission, Transient Immunity, voltage Variations, Disturbancee Power (RF-e), Disturbance voltage (RF e), Disturbance Current fault (RF e), Radio Disturbance (HF-E), Induced RF (I) and Radiated RF fields (I). · Areas: Aerospace, Automotive, Broadcast, Components, Consumer Electronics, Electromobility & Green Mobility, Indoor Appliances (White Goods), Industrial, Information Technology (IT), Medical, Military / Defense, Outdoor, Appliances, Renewable Energy (Green Energy), Smart Grids, Solar Panels & Inverters and Telecommunications. The devices are sold through sales offices, representatives and Distributions and are tailored for 30 different countries. |
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No. of Employees : |
34 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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 to 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 continue 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 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 from 2011-14.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing 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, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.
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Source
: CIA |
TESEQ AG
Sternenhofstrasse
15
4153 Reinach BL/BL
Switzerland/CH
Telephone: 032
6814040
Fax: 032
6814048
Web
site: http://www.teseq.com
E-mail: chinfo.teseq@ametek.com
WIN
Worldbox No.: CH0007282112
VAT-No.: CHE-113.208.800 MWST
UID-No.: CHE113208800
Established: 1962
History: 2006: Limited company
1962: Established from Hans Schaffner
Line
of Business: Measurement and
control technology, Consumer goods wholesale
Industry
Division: Manufacturing,
Wholesale trade
Industry-code (NACE): 2651 Manufacture of instruments and appliances
for measuring, testing and navigation
4652 Wholesale of electronic and
telecommunications equipment and parts
Import/Export: Export
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 34
Sales: CHF 10-20 Mio
The business activities are development, manufacture and sales of electronic devices such as EMC Test systems for emissions testing of the brand Teseq®. Other products include devices for automotive electrical interference, burst generators, clutch Networks, ESD simulators, Harmonics & Flicker, Dips, alarms & Variations, sine wave generators, ring-wave generators Surge generators, Absorbing clamps, antennas, Current Injection Probes, Current Sensing Probes, EM clamps, Impendance Stabilization Networks (ISN) line impedance stabilization networks (LISN), amplifiers, refererence sources, reverberation chambers, FH switches, software, power meters, preamplifiers, Attenuators, directional coupler, I / O interface, GTEM cells / TEM cells, strip lines and capacitive voltage probes.
Applications: Bulk current injection (BCI), Burst, Dips, alarms & Variations, Fast Transient (EFT), electrostatic discharge (ESD), Harmonics & Flicker, oscillatory Waves, Setup Verification, Ring Waves, Surge, Transit Emission, Transient Immunity, voltage Variations, Disturbancee Power (RF-e), Disturbance voltage (RF e), Disturbance Current fault (RF e), Radio Disturbance (HF-E), Induced RF (I) and Radiated RF fields (I).
Areas: Aerospace, Automotive, Broadcast, Components, Consumer Electronics, Electromobility & Green Mobility, Indoor Appliances (White Goods), Industrial, Information Technology (IT), Medical, Military / Defense, Outdoor, Appliances, Renewable Energy (Green Energy), Smart Grids, Solar Panels & Inverters and Telecommunications. The devices are sold through sales offices, representatives and Distributions and are tailored for 30 different countries.
Information on property ownership was not
available.
Company
No: 241.3.006.114-5
UID-No.: CHE113208800
Legal
form: Company limited by
shares
Registration: 13.10.2006
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Basel-Landschaft
History: Date of Statutes:
17.06.2015
Date of Incorporation
Statutes: 12.10.2006
Date of
Statutes: 17.10.2012
Entry Deleted Name
13.10.2006 Teseq
AG
Entry Deleted Legal domicile
29.06.2015 Reinach
(BL), Switzerland
13.10.2006 29.06.2015 Luterbach, Switzerland
Entry Deleted Address
29.06.2015 Sternenhofstrasse
15, 4153 Reinach BL/BL, Switzerland/CH
13.10.2006 29.06.2015 Nordstrasse 11 F, 4542 Luterbach,
Switzerland/CH
Entry Deleted Capital
17.10.2012 Share
Capital CHF 1,000,000, paidup CHF 1,000,000
13.10.2006 17.10.2012 Share Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
17.10.2012 1,000
Registered shares of CHF 1,000.--
13.10.2006 17.10.2012 100 Registered shares of CHF 1,000.--
Title Name
President Nikolaus
Holub
Citizen:
Austria
Residential
address: Reinach/BL, Switzerland
single
signature
Registered
since: 17.07.2014
Director David
William Beauclair
Citizen:
United States of America
Residential
address: Binningen, Switzerland
single
signature
Registered
since: 17.07.2014
Title Name
Member
with procuration Marcel Müller
Citizen:
Niederbipp, Switzerland
Residential
address: Niederbipp, Switzerland
joint
power of attorney of two
Registered
since: 31.05.2013
Title Name
Auditor BDO AG
Residential
address: Solothurn, Switzerland
Id:
CHE-389.731.986
Registered
since: 08.12.2009
Title Name
Chief
Executive Officer Nikolaus
Holub (nikolaus.holub@ametek.com)
Name: AMETEK INCORPORATED
City/Country: BERWYN, United States of
America/US
No.
of owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Name: Teseq Holding AG
City/Country: Reinach BL/BL, Switzerland/CH
Interest: 100,00% voting right, 100,00%
capital interest (since 06.07.2006)
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2014 31.12.2013 31.12.2012 31.12.2011 31.12.2010
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Statement norm: US-GAAP US-GAAP
BALANCE SHEET
Intangible fixed
assets 4,239,591.0 3,882,289.0 3,517,966.0 2,789,194.0 2,335,201.0
Tangible fixed
assets 448,446.0 402,790.0 383,483.0 325,329.0 318,126.0
Financial fixed assets 154,322.0 223,694.0 123,864.0 145,848.0 191,096.0
other fixed assets 0.0 0.0 0.0
Fixed assets 4,842,359.0 4,508,773.0 4,025,313.0 3,260,371.0 2,844,423.0
Stocks 495,896.0 452,848.0 428,935.0 380,471.0 335,253.0
Trade accounts
receivable 585,462.0 536,701.0
Cash & Cash
Equivalents 377,615.0 295,203.0 157,984.0 170,392.0 163,208.0
other trade
accounts 119,631.0 84,377.0
Other current
assets 497,246.0 379,580.0
Current assets 1,578,604.0 1,369,129.0 1,164,743.0 1,059,119.0 974,492.0
Total assets 6,420,963.0 5,877,902.0 5,190,056.0 4,319,490.0 3,818,915.0
Capital 494,339.0 451,281.0
Other shareholders
funds 2,745,222.0 2,684,840.0
Total shareholders equity 3,239,561.0 3,136,121.0 2,535,151.0 2,052,805.0 1,775,204.0
Minority interests 0.0 0.0 0.0
long term debt
(financial debts) 1,427,825.0 1,141,750.0 1,133,121.0 1,123,416.0 1,071,360.0
Provisions 0.0 0.0 0.0
Other non current
liabilities 817,433.0 725,486.0 641,815.0 514,394.0 421,492.0
Non current liabilities 2,245,258.0 1,867,236.0 1,774,936.0 1,637,810.0 1,492,852.0
short term debt
(financial debts) 286,201.0 273,315.0
Trade accounts
payable 386,207.0 347,638.0
Accruals 236,579.0 213,585.0
other accounts
payable 27,157.0 40,007.0
other current
liabilities 263,736.0 253,592.0
Current liabilities 936,144.0 874,545.0 879,969.0 628,875.0 550,859.0
Shareh. equity, min. int. & liabilities 6,420,963.0 5,877,902.0 5,190,056.0 4,319,490.0 3,818,915.0
PROFIT AND LOSS
ACCOUNT
Net sales 4,021,964.0 3,594,136.0 3,334,213.0 2,989,914.0 2,470,952.0
Operating revenue 4,021,964.0 3,594,136.0
Cost of goods sold 2,597,017.0 2,323,642.0
Gross profit 1,424,947.0 1,270,494.0
Other operating
expenses 526,361.0 455,415.0
Operating result 898,586.0 815,079.0 737,947.0 626,371.0 473,772.0
Interest expenses 79,928.0 73,572.0
other financial
expenses 13,826.0 16,712.0
Financial expenses 93,754.0 90,284.0
Financial result -93,754.0 -90,284.0
Result before extraordinary items 804,832.0 724,795.0
Result before taxes 804,832.0 724,795.0
Taxes 220,372.0 207,796.0
Result before
minority interests 584,460.0 516,999.0
Result for the financial year 584,460.0 516,999.0 459,132.0 384,464.0 283,932.0
Cash flow
Depreciation 138,584.0 118,657.0
Cash flow 723,044.0 635,656.0
Cash flow from
operating activities 725,962.0 660,659.0
Investments in
tangible fixed assets 71,327.0 63,314.0
Cash flow from
investing activities -641,633.0 -460,333.0
Cash flow from
financing activities 24,139.0 -70,284.0
Others -26,056.0 7,177.0
Change in
liquidity 82,412.0 137,219.0
Liquidity at beginning
of the year 295,203.0 157,984.0
Liquidity at end
of the year 377,615.0 295,203.0
Notes
Added value 1,023,344.0 917,024.0
Working Capital 695,151.0 641,911.0
Net Current Assets 642,460.0 494,584.0 284,774.0 430,244.0 423,633.0
Sales per Employee 261.2 247.9
Employees at year end 15,400 14,500
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
29.11.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 1 4,344.-- Opposition filed
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 is not listed in the World
Compliance database.
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 in order.
Payment
experiences: Payment habits are
considered good.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.16 |
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|
1 |
Rs.99.78 |
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Euro |
1 |
Rs.73.33 |
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.