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MIRA
INFORM REPORT
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Report No. : |
511386 |
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Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
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Name : |
EMAG AG |
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Registered Office : |
Ringstrasse 39 4600 Olten/SO /CH |
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Country : |
Switzerland |
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Date of Incorporation : |
1932 |
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Com. Reg. No.: |
249.3.000.021-7 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Wholesale of hides, skins
and leather |
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No. of Employees : |
6 |
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 : |
No Complaints |
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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 gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, 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 economic instability in Russia and other eastern European economies drove 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 through 2017.
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.
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Source
: CIA |
Company name and address
Emag AG
Operating address:
Ringstrasse 39 Mailing
Address:
4600 Olten/SO P.O.
Box
Switzerland/CH 4603
Olten/SO
Switzerland/CH
Telephone: +41
62 2062080
Fax: +41
62 2062081
Web site: http://www.emag.ch
E-mail: info@emag.ch
WIN Worldbox No.: CH0000772194
VAT-No.: CHE-102.212.683
MWST
UID-No.: CHE102212683
Profile
Established: 1932
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4624 Wholesale of hides,
skins and leather
Import/Export: Import,
Export
Banks: CS
Credit Suisse
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 6
Sales: CHF
8-10 Mio
Activity
The business activities
includes trading in hides and skins from beef, veal, lamb, sheep, goats and
deer. The main customers are: New Zealand, Italy, Hong Kong. The main importing
countries are: New Zealand, Italy, Hong Kong.
Operations and Branches:
At the address, Ringstrasse
39, 4600 Olten, Switzerland, we find office of the company.
Real
Estate
Information on
property ownership was not available.
Company
Register
Company No: 249.3.000.021-7
UID-No.: CHE102212683
Legal form: Company
limited by shares
Registration: 17.02.1933
Legal status: active
Responsible Register: Handelsregister des Kantons Solothurn
History: Date
of Statutes: 20.08.1976
Date
of Statutes: 09.12.2011
Date
of Statutes: 09.06.2008
Entry Deleted Name
active Emag
AG
active Emag
SA (Name translated)
active Emag
Ltd (Name translated)
Entry Deleted Legal domicile
10.06.2008 Olten,
Switzerland
10.06.2008 Wangen bei Olten, Switzerland
Entry Deleted Address
10.06.2008 Ringstrasse
39, 4600 Olten/SO, Switzerland/CH
10.06.2008 Mittelgäustrasse 2, 4612 Wangen bei Olten/SO,
Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 300,000, paid up CHF 300,000
Entry Deleted Capital Structure
13.12.2011 270
Registered shares of CHF 1,000.--
13.12.2011 30
Registered shares (preferred shares) of CHF 1,000.--
13.12.2011 300 Registered shares of CHF 1,000.--
Official
Administration
Title Name
Director Zehnder,
Christoph N.
Citizen:
Einsiedeln, Switzerland
Residential address: 4600 Olten/SO, Switzerland
single
signature
Registered
since: 26.10.1998
External
Positions
Title Name
Auditor ITERA
Wirtschaftsprüfung AG,
Residential
address: Aarau, Switzerland
Registered since: 04.12.2003
Direct
owner/-s
Owner: The
company is in family ownership.
Under Swiss Company
Law, Limited companies (AG, SA, LTD.) are not required to file information on
Shareholders of a company.
Investments
It is believed that
the company has no investments.
Financials
Balance sheet
publication:
The subject company
does not publish financial figures.
Legal
Actions
Control date Year No. Amount CHF Status
30.04.2008 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.
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: No Complaints.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.45 |
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1 |
INR 89.79 |
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Euro |
1 |
INR 78.79 |
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CHF |
1 |
INR 68.05 |
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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NIY |
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Report Prepared
by : |
TRU |
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
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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.