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MIRA
INFORM REPORT
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Report No. : |
493281 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PAMP SA |
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Registered Office : |
Via Alle Zocche 1, 6874
Castel San Pietro/TI, Switzerland/CH |
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Country : |
Switzerland |
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Date of Incorporation : |
14.03.1977 |
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Com. Reg. No.: |
524.3.000.674-2 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
The company engages in
the trade of various precious metals like gold, silver and platinum. |
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No. of Employees : |
80-149 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland, a country that espouses neutrality, is a 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 2011-17.
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 |
Company name
PAMP SA
PRODUITS ARTISTIQUES DE METAUX PRECIEUX SA
Operating
address
Via Alle Zocche 1
6874 Castel San Pietro/TI
Switzerland/CH
Telephone: +41 916950450
Fax: +41 916950451
Web site: http://www.pamp.ch
E-mail: info@pamp.com
WIN No.: CH0001224585
VAT-No.: CHE-116.272.272 IVA
UID-No.: CHE101369738
Profile
Established: 1977
Line of Business: Metal/steel
Industry Division: Manufacturing
Industry-code (NACE): 2441 Precious
metals production
Import/Export: Export
Export sales: 95,0%
Quality certification: ISO 9001
ISO
14001
ISO
17025
Banks: UBS
Ltd
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 80-149
Sales: CHF 40-60 Mio
Activity
The company engages in the
trade of various precious metals like gold, silver and platinum.
To physical production and
logistics functions include:
- Bullion (gold, silver and
platinum)
- Semi-finished products of
precious metals such as wire, plates, strips and bars
- Tailor-made for the watch
and jewellery industry precious metal coins
- Blanks and gold bars for
banks, financial institutions, governments and governmental mints
- Global development and
manufacture of proprietary, syndicated and custom commemorative coins and
medals.
- Refining of primary and
secondary noble metal-containing material.
Operations and Branches:
At the address, via Alle
Zocche 1, 6874 Castel San Pietro, Switzerland, we find office of the company.
Real
Estate
Real Estate: It is understood that the company owns
certain property.
Company
Register
Company No: 524.3.000.674-2
UID-No.: CHE101369738
Legal form: Company Limited by Shares
Registration: 14.03.1977
Legal status: active
Responsible Register: Registro di commercio del Cantone Ticino
History: Date of Statutes: 29.03.1984
Date of Statutes: 28.03.1980
Date of Statutes: 08.07.1982
Date of Statutes: 29.05.1996
Date of Incorporation Statutes: 11.03.1977
Date of Statutes: 12.12.2014
Date of Statutes: 24.01.2003
Entry Deleted Name
active Pamp
SA
Entry Deleted Legal domicile
active Castel
San Pietro, Switzerland
Entry Deleted Address
12.02.2016 Via
Alle Zocche 1, 6874 Castel San Pietro/TI, Switzerland/CH
12.02.2016 6874 Castel San Pietro/TI, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 6,600,000, paid up CHF 6,600,000
Entry Deleted Capital Structure
15.12.2014 6,600
Registered shares of CHF 1,000.--
15.12.2014 6,600 Bearer shares of CHF 1,000.--
Official
Administration
Title Name
President Shakarchi,
Marwan Mahmoud
Citizen:
Cologny, Switzerland
Residential
address: Meinier, Switzerland
joint
signature of two
Chief Executive Barkhordar,
Mehdi
Citizen:
Cologny, Switzerland
Residential
address: 1223 Cologny/GE, Switzerland
joint
signature of two
Director Isler,
Hans
Citizen:
Turbenthal, Switzerland
Residential
address: Confignon, Switzerland
joint
signature of two
Registered
since: 15.03.2017
Director Liess-Shakarchi,
Karma
Citizen:
France
Residential
address: Cologny, Switzerland
joint
signature of two
Director Porro,
Franco
Citizen:
Chiasso, Switzerland
Residential
address: 6830 Chiasso/TI, Switzerland
joint
signature of two
Director Walter,
Avv. Stanley
Citizen:
Sciaffusa, Switzerland
Residential
address: Collonge-Bellerive, Switzerland
joint
signature of two
Management
Title Name
General Director Haroun,
Nadia
Citizen:
France
Residential
address: Morcote, Switzerland
joint
signature of two
Registered
since: 18.03.2010
Vice-Director Arbini,
Fiorenzo
Citizen:
Italy
Residential
address: Saltrio , Italy
joint
signature of two
Registered
since: 18.03.2010
Member with procuration Candiani, Alberto
Citizen:
Italy
Residential
address: Malnate , Italy
joint
power of attorney of two
Registered
since: 18.03.2010
Member with procuration Manara, Daniela
Citizen:
Italy
Residential
address: San Fermo della Battaglia, Italy
joint
power of attorney of two
Registered
since: 20.02.2015
External
Positions
Title Name
Auditor Ernst
& Young SA,
Residential
address: Genève, Switzerland
Registered
since: 30.01.2003
Ultimate
Parent Company
Name: Sharaf
Holding SARL
City/Country: Luxembourg,
Luxembourg/LU
Direct
owner/-s
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 50-100%,
directly held
Name: MKS
(Switzerland) SA
City/Country: Genève/GE,
Switzerland/CH
Interest: 91,00%
voting right, 91,00% capital interest
Investments
It is believed that
the company has no investments.
Sisters
Name: Manfra,
Tordella & Brookes, Inc.
City/Country: New
York, United States of America/US
Name: MKS
Kıymetli Madenler Ticaret Anonim Şirketi
City/Country: Sirkeci/Istanbul,
Turkey/TR
Name: MKS
PRECIOUS METALS (AUSTRALIA) PTY LIMITED
City/Country: Sydney,
Australia/AU
Name: MKS
Precious Metals DMCC
City/Country: Dubai,
United Arab Emirates/AE
Name: MKS
Precious METALS SDN. BHD
City/Country: Kuala
Lumpur, Malaysia/MY
Name: MKS
Precious Metals (Singapore) Pte. Ltd.
City/Country: Singapur,
Singapore/SG
Name: MKS
Precious METALS (THAILAND) CO. LTD.
City/Country: Bangkok,
Thailand/TH
Name: MMTC
- PAMP INDIA PRIVATE LIMITED
City/Country: Sohna/Haryana,
India/IN
Name: Pamp
(Shanghai) Precious Metals Trading Co. Ltd
City/Country: Shanghai,
China/CN
Name: Pamp
Ventures SA
City/Country: Genève/GE,
Switzerland/CH
Financial
Data Sharaf Holding SARL
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 30.06.2017 30.06.2016
Number of months: 12 12
Currency: th.
EUR th. EUR
Balance Sheet
Intangible fixed assets 11,599.0 13,978.0
Land and buildings 39,830.0 41,191.0
Other tangible fixed assets 56,897.0 54,856.0
Tangible fixed assets 96,727.0 96,047.0
Financial fixed assets 28,926.0 26,817.0
Fixed assets 137,252.0 136,842.0
Stocks 682,539.0 666,157.0
Trade accounts receivable 73,575.0 125,249.0
Cash & Cash Equivalents 222,835.0 339,730.0
Securities 42,494.0 28,566.0
other trade accounts 61,396.0 58,343.0
Accruals 3,769.0 3,956.0
Other current assets 330,494.0 430,595.0
Current assets 1,086,608.0 1,222,001.0
Total assets 1,223,860.0 1,358,843.0
Capital 750.0 750.0
Other shareholders funds 91,183.0 79,678.0
Total shareholders equity 91,933.0 80,428.0
Minority interests 69,616.0 65,477.0
Provisions 10,106.0 10,042.0
Non current liabilities 10,106.0 10,042.0
short term debt (financial debts) 687,714.0 850,123.0
Trade accounts payable 231,474.0 223,980.0
Provisions 3,252.0 945.0
other accounts payable 129,765.0 127,848.0
other current liabilities 133,017.0 128,793.0
Current liabilities 1,052,205.0 1,202,896.0
Shareh. equity, min. int. & liabilities 1,223,860.0 1,358,843.0
Profit and loss account
Sales 173,591.0 163,936.0
Net sales 173,591.0 163,936.0
Other operating revenue 1,276.0 857.0
Operating revenue 174,867.0 164,793.0
Gross profit 174,867.0 164,793.0
Other operating expenses 140,489.0 131,853.0
Operating result 34,378.0 32,940.0
Interest revenues 15,358.0 10,286.0
Financial income 15,358.0 10,286.0
Interest expenses 764.0 42.0
other financial expenses 26,419.0 25,303.0
Financial expenses 27,183.0 25,345.0
Financial result -11,825.0 -15,059.0
Result before extraordinary items 22,553.0 17,881.0
Result before taxes 22,553.0 17,881.0
Taxes 7,483.0 4,670.0
Result before minority interests 15,070.0 13,211.0
minority interests 5,511.0 4,010.0
Result for the financial year 9,559.0 9,201.0
Cash flow
Depreciation 11,226.0 9,088.0
Cash flow 20,785.0 18,289.0
Notes
Cost of employees 45,334.0 42,663.0
Added value 79,877.0 69,674.0
Working Capital 524,640.0 567,426.0
Net Current Assets 34,403.0 19,105.0
Sales per Employee 253.8 257.4
Gross cost land and buildings 51,929.0 52,408.0
Gross cost other tangible fixed assets 142,802.0 134,049.0
Gross cost total 194,731.0 186,457.0
Employees
average 684 637
Financials
Balance sheet
publication:
The subject company
does not publish financial figures.
Legal
Actions
Control date Year No. Amount CHF Status
31.10.2014 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
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
No legal actions
determined.
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.
Sanctions
List
We did not find the
company included on the various international sanctions lists, such as the OFAC
(Office of Foreign Assets Control), the BIS (Bureau of Industry and Security),
the European Union Restrictive measures (sanctions) list, the Export Control
Organisation (ECO) of the UK, the Australian Department of Foreign Affairs and
Trade.
Payment
experiences
Payment experiences
are considered to be in order.
Remarks
- The VAT number -
CHE-116.272.272 MWST - is the Group VAT number.
- Based on the
positive financial situation of the ultimate parent company we deem stated
credit as acceptable.
Credit
Information
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 considered to be in order.
Payment experiences: Slow but correct.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.66 |
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1 |
INR 90.65 |
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Euro |
1 |
INR 79.70 |
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CHF |
1 |
INR 69.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.