MIRA INFORM REPORT

 

 

Report No. :

496975

Report Date :

15.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

COGETEX SA

 

 

Registered Office :

Avenue de la Praille 26, Case postale 1916, 1227 Carouge/GE

 

 

Country :

Switzerland

 

 

Date of Incorporation :

17.08.1983

 

 

Com. Reg. No.:

660.0.470.983-2

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

The company operates as a merchant in textiles, handling a range of products that extends from fibres to fabrics, including yarn and cloth, grey and bleached, made of cotton and a large variety of other raw materials and blends. The company sources and distributes monthly through its extensive network tens of millions of meters of fabric, as well as thousands of tons of yarn.

 

 

No. of Employees :

30

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Switzerland

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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.

 

Source : CIA

 

Company name

 

Cogetex SA

 

 

Operating address

 

avenue de la Praille 26

Case postale 1916

1227 Carouge/GE

Switzerland/CH

 

Telephone:                   +41 228279797

Fax:                             +41 228279898

Web site:                      http://www.cogetex.com

E-mail:                         cogetex@cogetex.com

VAT-No.:                      CHE-116.300.603 TVA

UID-No.:                       CHE103204195

 

 

Profile

 

Established:                 1958

Line of Business:          Consumer goods wholesale

Industry Division:          Wholesale trade

Industry-code (NACE):  4641       Wholesale of textiles

Import/Export:              Import, Export

Banks:                         UBS Ltd

                                    BCV Banque Cantonale Vaudoise

                                    CS Credit Suisse

                                    Crédit Agrigole (Suisse) SA

Organisation level:        Ultimate Parent

 

 

Operational Figures

 

Coverage:                    Company

Figures:                        estimated

Financial year:              2017

Employees:                  30

Sales:                          CHF 10-20 Mio

 

 

Activity

 

The company operates as a merchant in textiles, handling a range of products that extends from fibres to fabrics, including yarn and cloth, grey and bleached, made of cotton and a large variety of other raw materials and blends. The company sources and distributes monthly through its extensive network tens of millions of meters of fabric, as well as thousands of tons of yarn.

 

Operations and Branches:

At the address, avenue de la Praille 26, 1227 Carouge, Switzerland, we find office of the company.

 

Affiliated companies:

 

Mexom SA

avenue de la Praille 26

Case postale 1976

1227 Carouge

 

COGECOT SA

avenue de la Praille 26

1227 Carouge

 

 

Real Estate

 

Real Estate:                  The company owns buildings.

Value:                          CHF 12,500,000.--

 

 

Company Register

 

Company No:               660.0.470.983-2

UID-No.:                       CHE103204195

Legal form:                   Company limited by shares

Registration:                 17.08.1983

Legal status:                 active

Responsible Register:   Registre du commerce du canton de Genève

History:                        Date of Statutes: 26.07.1994

                                    Date of Statutes: 18.05.2015

                                    Date of Statutes: 02.12.2011

                                    Date of Statutes: 18.06.1997

 

Entry          Deleted      Name

active                           Cogetex SA

 

Entry          Deleted      Legal domicile

active                           Carouge (GE), Switzerland

 

Entry          Deleted      Address

active                           Avenue de la Praille 26, 1227 Carouge GE/GE, Switzerland/CH

 

Entry          Deleted      Capital

27.08.2015                    Share Capital CHF 8,000,000, paid up CHF 8,000,000

                  29.02.2012  Share Capital CHF 18,000,000, paid up CHF 18,000,000

29.02.2012  27.08.2015  Share Capital CHF 12,000,000, paid up CHF 12,000,000

 

Entry          Deleted      Capital Structure

27.08.2015                    16,000 Bearer shares of CHF 500.--

                  29.02.2012  36,000 Bearer shares of CHF 500.--

29.02.2012  27.08.2015  24,000 Bearer shares of CHF 500.--

 

 

Official Administration

 

Title                                           Name

Vice-President, Director               Babecoff, Eric

                                                  Citizen: Vernier, Switzerland

                                                  Residential address: Troinex, Switzerland

                                                  Born: 29.06.1960

                                                  single signature

                                                  Registered since: 25.01.1995

 

 

External Positions

 

Title                                           Name

Auditor                                       Deloitte SA,

                                                  Residential address: Genève, Switzerland

                                                  Id: CHE-411.931.790

                                                  Registered since: 29.09.2017

 

 

Executive board

 

Title                                           Name

Chief Executive Officer               Babecoff, Eric

 

 

Direct owner/-s

 

No. of owner/-s:            1

Owner:                         The company is privately owned.

 

Class:                          100%, directly held

Name:                          Eric Babecoff

City/Country:                Troinex, Switzerland/CH

Interest:                        100,00% voting right, 100,00% capital interest (since 2017)

 

 

Investments

 

Class:                          100%, directly held

Name:                          COGECOT SA

City/Country:                Carouge/GE, Switzerland/CH

Interest:                        100,00% voting right, 100,00% capital interest

 

 

Financials

 

Balance sheet publication:     

The subject company does not publish financial figures.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

25.07.2016          2016                           0                                      Legal actions

31.12.2015          2015                           0                                      Legal actions

31.12.2014          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

23.02.2009          2009                           0                                      Legal actions

31.12.2008          2008                           0                                      Legal actions

31.12.2007          2007                           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-116.300.603 MWST - is the Group VAT number.

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.99

UK Pound

1

INR 90.83

Euro

1

INR 80.58

CHF

1

INR 68.56 

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.