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Report No. : |
341527 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
COTTON-TEX AG |
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Registered Office : |
Werkstrasse 12a 9444 Diepoldsau/SG |
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Country : |
Switzerland/CH |
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Date of Incorporation : |
19.06.1980 |
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Com. Reg. No.: |
320.3.019.580-8 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
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No. of Employee : |
5 |
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 |
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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.
|
Source
: CIA |
COTTON-TEX AG
Operating address:
Werkstrasse 12a
9444 Diepoldsau/SG
Switzerland/CH
Telephone: 071 7379137
Fax: 071 7379138
E-mail: cottontex@cottonch.com
VAT-No.: CHE-107.973.714 MWST
UID-No.: CHE107973714
Established: 1980
Line
of Business: Trade brokers
Industry
Division: Wholesale trade
Industry-code (NACE): 4619 Agents involved in the sale of a variety
of goods
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 5
Sales: CHF 4-6 Mio
The business activities are the trade with textile products and special products of various kinds.
Information on property ownership was not available.
Company
No: 320.3.019.580-8
UID-No.: CHE107973714
Legal
form: Company limited by
shares
Registration: 19.06.1980
Legal
status: active
Responsible
Register: Handelsregister des Kantons
St. Gallen
History: Date of Incorporation
Statutes: 19.06.1980
Date of
Statutes: 05.03.2015
Date of
Statutes: 07.12.2009
Date of
Statutes: 04.05.2009
Date of
Statutes: 21.06.1999
Date of
Statutes: 25.04.1997
Entry Deleted Name
active Cotton-tex
AG
Entry Deleted Legal domicile
active Diepoldsau,
Switzerland
Entry Deleted Address
active Werkstrasse
12a, 9444 Diepoldsau, Switzerland/CH
Entry Deleted Capital
25.06.2010 Share
Capital CHF 300,000, paidup CHF 300,000
30.06.1999 25.06.2010 Share Capital CHF 1,050,000, paidup CHF
1,050,000
Entry Deleted Capital Structure
16.03.2015 300
Registered shares of CHF 1,000.--
25.06.2010 16.03.2015 300 Bearer shares of CHF 1,000.--
30.06.1999 25.06.2010 1,050 Bearer shares of CHF 1,000.--
Title Name
Director Jörg Büsel
Citizen:
Austria
Residential
address: Balgach, Switzerland
single
signature
Registered
since: 07.06.1993
Title Name
General
Manager Jörg Büsel
Citizen:
Austria
Residential
address: Balgach, Switzerland
single
signature
Registered
since: 07.06.1993
Owner: The company is privately
owned.
Class: 100%
Name: Jörg Büsel
City/Country: Balgach/SG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Cotton-tex
Handels-GmbH
City/Country: Götzis, Austria/AT
Interest: 100,00% voting right,
100,00% capital interest
Class: 20-29%
Name: MONTFORT
Kunststofftechnik GmbH
City/Country: Koblach, Austria/AT
Interest: 20,68% voting right,
20,68% capital interest
Class: 0-9%
Name: Sina Wind S.R.L.
City/Country: Rovereto, Italy/IT
Interest: 5,00% voting right,
5,00% capital interest
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Control date Year No. Amount CHF Status
19.09.2005 2005 0 Legal
actions
31.12.2004 2004 0 Legal
actions
31.12.2003 2003 0 Legal
actions
31.12.2002 2002 0 Legal
actions
31.12.2001 2001 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.65.63 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
SDA |
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.