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MIRA
INFORM REPORT
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Report No. : |
497561 |
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Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
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Name : |
AMSLER TEX AG |
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Registered Office : |
Eichacherstrasse 5, 8904 Aesch bei
Birmensdorf/ZH |
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Country : |
Switzerland |
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Date of Incorporation : |
16.03.1983 |
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Com. Reg. No.: |
020.3.901.230-8 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of machinery
for textile, apparel and leather production. |
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No. of Employees : |
30 |
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 : |
Moderate |
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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
AMSLER TEX AG
Operating address:
Eichacherstrasse 5
8904 Aesch bei Birmensdorf/ZH
Switzerland/CH
Telephone: +41
447399100
Fax: +41
447399104
Web site: http://www.amslertex.com
E-mail: sales@amslertex.com
WIN Worldbox No.: CH0000411742
VAT-No.: CHE-108.062.293
MWST
UID-No.: CHE108062293
Profile
Established: 1983
Line of Business: Machinery
Industry Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Export
Banks: unknown
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 30
Sales: CHF
10-20 Mio
Activity
The company specialises with the modification of
garns and focuses on development and production of machines for a improved
composition of the garn, during the spinning process.
All activities are concentrated efficiently
under one roof. The company is represented in more than 50 countries. Additionally, there is a global
team of erectors responsible for ongoing installations and maintenance services.
The upgrades and modifications are offered for following system groups:
Ringspin System, Open-End System, Core System, Injection System, Auxiliary
System.
The company exports to the following counties:
Australia, Bangladesh, Hong Kong, China, Indonesia, India, Japan, Korea,
Taiwan, Thailand, Philippines, Egypt, Marocco, South Africa, Tunesia, Canada,
USA, Argentina, Brasil, Chile, Columbia, El Salvador, Guatemala, Nicaragua,
Honduras, Mexico, Peru, Venezuela, Belgium, France, Greece, Italy, Portugal,
Slovenia, Croatia, Macedonia, Bosnia-Herzegovina, Serbia and Montenegro, Spain,
Iran, Pakistan, Syria, Turkey, Usbekistan, Kasachstan.
Operations and Branches:
At the address, Eichacherstrasse 5, 8904 Aesch
bei Birmensdorf, Switzerland, we find office of the company.
Real
Estate
Real Estate: It is
understood that the company owns certain property.
Company
Register
Company No: 020.3.901.230-8
UID-No.: CHE108062293
Legal form: Company
limited by shares
Registration: 16.03.1983
Legal status: active
Responsible Register: Handelsregister
des Kantons Zürich
History: Date
of Statutes: 11.07.1990
Date
of Statutes: 24.06.2002
Date
of Statutes: 05.02.1998
Date
of Statutes: 31.10.1994
Entry Deleted Name
16.07.2002 Amsler
Tex LTD (Name translated)
16.07.2002 Amsler
Tex SA (Name translated)
11.11.1994 Amsler
Tex AG
11.11.1994 Amsler - IRO AG
Entry Deleted Legal domicile
17.03.1998 Aesch (ZH), Switzerland
17.03.1998 Zürich, Switzerland
Entry Deleted Address
17.03.1998 Eichacherstrasse 5, 8904
Aesch bei Birmensdorf/ZH, Switzerland/CH
17.03.1998 Hermetschloostrasse 75, 8048 Zürich/ZH,
Switzerland/CH
Entry Deleted Capital
16.07.2002 Share
Capital CHF 500,000, paid up CHF 500,000
Entry Deleted Capital Structure
16.07.2002 500
Registered shares of CHF 1,000.--
Official
Administration
Title Name
President, Chief Executive Bloch,
Dr. Raoul
Citizen:
Aarau, Switzerland
Residential
address: 8702 Zollikon/ZH, Switzerland
single
signature
Registered
since: 06.12.2005
Director Burckhardt,
Dr. Sebastian
Citizen:
Basel, Switzerland
Residential
address: 4125 Riehen/BS, Switzerland
joint
signature of two
Registered
since: 06.12.2005
Director Lippuner,
Daniel
Citizen:
Grabs, Switzerland
Residential
address: Altendorf, Switzerland
joint
signature of two
Registered
since: 17.11.2016
External Positions
Title Name
Auditor TRETOR
AG ,
Residential
address: Basel, Switzerland
Id:
CHE-302.042.904
Registered
since: 13.09.2016
Executive
board
Title Name
Chief Executive Officer Bloch,
Dr. Raoul
Direct
owner/-s
No. of owner/-s: 1
Owner: The
company is privately owned.
Class: 100%,
directly held
Name: Dr.
Raoul Bloch
City/Country: Zollikon/ZH,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 06.12.2005)
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
05.07.2010 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
There are irregularities on record.
Debt collection case:
JUN 2010: CHF 5'460.00, paid.
MAY 2011: CHF 307.85, paid.
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: 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 65.02 |
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1 |
INR 90.12 |
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Euro |
1 |
INR 80.91 |
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CHF |
1 |
INR 68.49 |
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 : |
KET |
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.