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MIRA INFORM REPORT
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Report No. : |
498328 |
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Report Date : |
21.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MAGIC DAVOS AG |
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Registered Office : |
Talstrasse 42d, 7270 Davos Platz |
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Country : |
Switzerland |
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Date of Incorporation : |
19.10.2015 |
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Com. Reg. No.: |
CH-350.3.012.308-0 |
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Legal Form : |
Limited company - AG/SA |
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Line of Business : |
Tour operator activities |
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No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
Summary
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Company name |
Magic Davos AG |
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Operative address |
Talstrasse 42d |
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Status |
Active |
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Legal form |
Limited company - AG/SA |
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Registration number |
Trade register number: CH-350.3.012.308-0 |
Contact
information
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Company name |
Magic Davos AG |
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Operative address |
Talstrasse 42d |
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Correspondence address |
Talstrasse 42d |
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Website |
www.magicdavos.com |
Registration
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Registration number |
Trade register number: CH-350.3.012.308-0 |
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Status |
Active |
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Establishment date |
2015-10-19 |
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Legal form |
Limited company - AG/SA |
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Subscribed share capital |
CHF 100.000 |
Activities
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NACE |
7912: Tour operator activities |
Management
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Management |
Fullname: Mr Ravi Gupta |
Employees
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Year |
2018 |
2017 |
2016 |
2015 |
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Annual |
4 |
4 |
4 |
4 |
Financial
analysis
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Trend |
Can not be evaluated due to the lack of sufficient financial data |
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Profitability |
Can not be evaluated |
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Solvability |
Can not be evaluated |
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Liquidity |
Limited |
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Show amount in |
Euro |
Key
figures
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Year |
2017 |
2016 |
2015 |
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Turnover |
4.272.495 |
4.668.686 |
4.629.205 |
Financial
statement
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Last annual account |
2017 |
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Remark annual account |
There is no financial data published |
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Type of annual account |
Corporate |
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Annual account |
Magic Davos AG |
Profit
and loss
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Summary |
The turnover of the company decreased by -8.49 % between 2016 and
2017. |
Country
information
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Population |
8.3 million |
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GDP per capita |
80,346 USD |
Publications
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Remarks |
Status: Active |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.20 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 80.46 |
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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.