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MIRA INFORM REPORT
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Report No. : |
487535 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SAFDICO INTERNATIONAL
LIMITED |
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Operations and Branch Office : |
Aéroport, 1215 Genève 15 Aéroport/GE |
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Country : |
Switzerland |
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Year of Establishment : |
2012 |
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Legal Form : |
Branch of Foreign Company |
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Line of Business : |
Wholesale of Watches and
Jewellery. |
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No. of Employees : |
2 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Branch of Foreign Company |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 and address
SAFDICO INTERNATIONAL LIMITED
"Safdico SA"
Operating address:
Aéroport Postal
address:
1215 Genève 15
Aéroport/GE P.O.
Box 1138
Switzerland/CH 1211
Genève 5/GE
Switzerland/CH
Telephone: +41
227102120
Fax: +41
227102125
Web site: http://www.safdico.com
E-mail: safdico.geneve@safdico.com
WIN Worldbox No.: CH0008913611
Profile
Established: 2012
Line of Business: Consumer
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4648 Wholesale of watches and jewellery
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 2
Sales: CHF
0-1 Mio
Activity
Safdico has set unsurpassed standards of innovation,
craftsmanship and professionalism throughout the diamond industry. They have a
worldwide distribution network, employing over 250 people and specialising in
top-end, extraordinary diamonds. Thousands of carats of rough diamonds are cut
and polished monthly in South Africa, Antwerp, New York and Botswana. They are
subsequently offered to a discerning public around the world.
The company has 2 employees, working in France
and in the office in Geneva. All Businesses are carried outside Switzerland.
Operations
and Branches
At the address, Aéroport, 1215 Genève 15
Aéroport, Switzerland, we find the company's registered office
Real Estate
Real Estate: The
company owns no property.
Company Register
Registration: The
company is not recorded in the Company Register.
Legal form: Branch
of foreign company
Legal status: active
Executive board
Title Name
Chief Administration Officer Gallo,
Elena
Headquarters
WIN: MU0000354139
Name: Safdico
International Limited
City/Country: Port Louis,
Mauritius/MU
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is foreign owned.
Investments
It is believed that the company has no
investments.
Financials
Balance sheet publication:
The subject company does not publish balance sheet
or turnover figures.
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
No payment history is available.
Remarks
Note: The company is not required to keep VAT,
as the turnover of taxable services is lower than CHF 100'000.
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 difficult to assess.
Payment experiences: Unknown
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.75 |
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1 |
INR 89.39 |
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Euro |
1 |
INR 78.75 |
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CHF |
1 |
INR 68.17 |
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 : |
NIT |
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.