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Report No. : |
346247 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
KOLMAR GROUP AG |
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Registered Office : |
Baarerstrasse 18, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.02.1997 |
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Com. Reg. No.: |
170.3.021.172-8 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
The company is a “virtual” integrated Petroleum
and Petrochemicals company. Its product spectrum extends from heavy Petroleum
to lighter Petroleum products, a large variety of Petrochemicals and Energy
products like different biofuels and coal. |
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No. of Employees : |
150-249 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
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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 |
KOLMAR GROUP AG
Operating address:
Baarerstrasse 18
Metalli Center
6300 Zug/ZG
Switzerland/CH
Telephone: 041
7275700
Fax: 041
7275701
Web
site: http://www.kolmargroup.com
E-mail: functiontrading@kolmargroup.com
WIN
Worldbox No.: CH0000108709
VAT-No.: CHE-108.565.341
MWST
UID-No.: CHE108565341
Established: 1997
Line of Business: Financial
services, Trade brokers
Industry Division: Services,
Wholesale trade
Industry-code (NACE): 6420 Activities of
holding companies
4612 Agents involved in the sale of fuels,
ores, metals and industrial chemicals
Import/Export: Agency
Banks: unknown
Coverage: Group
Employees: 150-249
Sales: USD
6-8 Bil
The company is a
“virtual” integrated Petroleum and Petrochemicals company. Its product spectrum
extends from heavy Petroleum to lighter Petroleum products, a large variety of
Petrochemicals and Energy products like different biofuels and coal. The
company has 20 offices in the Far and Middle East, Europe, North and South
America.
Information on property
ownership was not available.
Company No: 170.3.021.172-8
UID-No.: CHE108565341
Legal form: Company
limited by shares
Registration: 03.02.1997
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date
of Statutes: 26.09.2011
Date
of Statutes: 02.12.2009
Date
of Statutes: 05.05.2008
Date
of Statutes: 30.11.2007
Date
of Statutes: 22.02.2007
Date
of Statutes: 27.10.2006
Date
of Statutes: 03.07.2006
Date
of Incorporation Statutes: 31.01.1997
Entry Deleted Name
26.02.2007 Kolmar
Group AG
26.02.2007 Kolmar
Group SA (Name translated)
26.02.2007 Kolmar
Group Ltd (Name translated)
03.02.1997 26.02.2007 Kolmar Petrochemicals AG
03.02.1997 26.02.2007 Kolmar Petrochemicals SA (Name translated)
03.02.1997 26.02.2007 Kolmar Petrochemicals Ltd (Name translated)
Entry Deleted Legal domicile
03.02.1997 Zug,
Switzerland
Entry Deleted Address
27.08.2012 Baarerstrasse
18, 6300 Zug/ZG, Switzerland/CH
12.05.2000 27.08.2012 Metallstrasse 9, 6304 Zug/ZG, Switzerland/CH
03.02.1997 12.05.2000 Alpenstrasse 11, 6300 Zug/ZG, Switzerland/CH
Entry Deleted Capital
03.02.1997 Share
Capital CHF 8,400,000, paidup CHF 8,400,000
Entry Deleted Capital Structure
03.02.1997 8,400
Registered shares of CHF 1,000.--
Entry Deleted Remarks
06.10.2011 Dividend
right certificates: 430 participation certificates, with rights to share in
earnings in accordance with statutes.
Title Name
President Ruth
Sandelowsky
Citizen:
Netherlands
Residential
address: Zug/ZG, Switzerland
joint signature of two
Registered
since: 03.02.1997
Vice-President Rafael
Aviner
Citizen: Armenia
Residential
address: Weston, United States of America
joint
signature of two
Registered
since: 03.02.1997
Company
Secretary Herbert C.
Schlaubitz
Citizen:
Meikirch, Switzerland
Residential
address: Walchwil, Switzerland
joint
signature of two
Registered
since: 08.10.2004
Director Dr. Josef
Bollag
Citizen:
Endingen, Switzerland
Residential
address: Baden/AG, Switzerland
joint
signature of two
Registered
since: 05.06.2002
Director Dr. Moshe
Michael Glass
Citizen:
Zürich, Switzerland
Residential
address: Zürich/ZH, Switzerland
joint
signature of two
Registered
since: 08.10.2004
Title Name
Member
with signing authority Josef Huwyler
Citizen:
Mühlau, Switzerland
Residential
address: Mühlau, Switzerland
joint
signature of two
Registered
since: 23.01.2013
Member
with signing authority Rolf
Schultheiss
Citizen:
Feuerthalen, Switzerland
Residential
address: Zug, Switzerland
joint
signature of two
Registered
since: 19.02.2014
Member
with signing authority Chavdar
Tzonev
Citizen:
Huttwil, Switzerland
Residential
address: Schwyz, Switzerland
joint
signature of two
Registered
since: 13.07.2000
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Zürich, Switzerland
Registered
since: 09.12.1998
Name: ChemCore
S.A.
City/Country: Luxembourg,
Luxembourg/LU
No. of owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: ChemCore
S.A.
City/Country: Luxembourg,
Luxembourg/LU
Interest: 100,00%
voting right, 100,00% capital interest
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: mil.
USD mil. USD mil. USD mil.
USD mil.
USD
Operating revenue 7,800.0 6,800.0 6,700.0 4,450.0 2,850.0
Employees at year end 160 190 170 170 170
Offices 20 25 23 23 20
Class: 100%
Name: Kolmar
Americas Inc
City/Country: Bridgeport/Connecticut,
United States of America/US
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: Kolmar Fibres AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 1999)
Class: 100%
Name: Kolmar
Japan KK
City/Country: Tokyo,
Japan/JP
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: Kolmar
Singapore Pte Ltd
City/Country: Singapore,
Singapore/SG
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: Kolmar
UK Limited
City/Country: London/Middlesex,
United Kingdom/GB
Interest: 100,00%
voting right, 100,00% capital interest
Control date Year No. Amount CHF Status
24.07.2015 2015 0 Legal
actions
31.12.2014 2014 0 Legal
actions
31.12.2013 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
19.10.2008 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 has been listed in the following
sanction databases:
WorldCompliance
With the following information :
Kolmar Group AG (2437699)
Aliases N/A
NickNames N/A
Category Adverse Media
Sub Category Tax Evasion
Level N/A
Data source Website
Designation N/A
Primary Country CH
Position Suspected of tax evasion - March 2011
National ID N/A
Other ID N/A
Passport # N/A
Last Updated 25/11/2011
Additional Information
According to the
en.21cbh.com; March 26, 2011: Glencore International AG (GLEN.UL) and Kolmar
Group AG, two of the world’s biggest commodity traders, may be involved in
large-scale fuel smuggling and tax evasion in China. The case alllegadly
involves up to 800,000 tons of fuel and unpaid taxes of RMB 1 billion.
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 Situation: The financial situation is good.
Payment experiences: Financial obligations are paid punctually.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.89 |
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|
1 |
Rs.100.39 |
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Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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.