MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GENERAL CABLE NEW ZEALAND LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
03-04-1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer and supplier of cable solutions for energy,
communications, data and electronic systems |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
REGISTERED NAME
GENERAL CABLE NEW ZEALAND LTD
CORPORATE SEARCH
Company Number 899143
Company GENERAL
CABLE NEW ZEALAND LIMITED
Incorporated 03-APR-1998
Current Status REGISTERED
Entity Type Company
Constitution Filed Yes
Annual Return
Filing Month March
Previous Names
Company Name Date
Changed
BICCGENERAL CABLE NEW
BICC CABLES
WORDSWORTH ENTERPRISES LIMITED 08-MAY-1998
Address Details
Registered Office
Address for Service
General Cable New Zealand Limited
Directors
Name Date
Appointed:
BIRKETT, Christopher Barham 01-JAN-2004
KENNY, Gregory B 09-OCT-2000
7756 Tecumseh Trail,
SHANKS, Paul Nicholas 31-JAN-2001
SIVERD, Robert J 01-JAN-2004
WHYTE, Campbell James 01-JUN-2001
Total Number of shares 48,000,100
Number of Shares 48,000,100
Shareholder(s) 907463
- GENERAL CABLE HOLDINGS
Generalcable New
Zealand Limited,
BUSINESS STRUCTURE
TRADING ADDRESS
Christchurch
TELEPHONE (643) 348 5199
FACSIMILE (643) 348 5567
HOLDING ENTITY
GENERAL CABLE
HOLDINGS NZ
ULTIMATE HOLDING
ENTITY
GENERAL CABLE
CORPORATION -
BANK
Not determined
EMPLOYEES
Not determined
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates as a leading manufacturer and supplier of
cable solutions for energy, communications, data and electronic systems in
Activities are conducted from premises located at the above listed trading address.
FINANCES
The subject is not required to lodge financial statements with the New Zealand Companies Office.
During the current investigation, contact with the subjects Financial Controller was unable to be established. Despite numerous messages being left, no reply has been received.
As a result, details pertaining to the subjects financial and trading position were unable to be obtained for the current enquiry.
For the last financial year ended 31 December 2006, the holding entity General Cable Holdings New Zealand Ltd recorded consolidated revenue of NZ$230,251,000 which resulted in an operating profit before tax of $21,400,000 and after tax of $15,250,000.
At 31 December 2006, the
At 31 December 2006, the
The subject is ultimately owned by General Cable Corporation, a
The group is a leader in the development, design, manufacture, marketing and distribution of copper, aluminium and fibre optic wire and cable products for the energy, industrial, specialty and communications markets
For the last financial year ended 31 December 2006, the global group recorded sales of US$3,665.1 million which resulted in Net Income of US$135.3 million.
TRADE SURVEY
During the current investigation, contact with the subject’s principals was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
Details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
For the last financial year ended 31 December 2006, the holding entity General Cable Holdings New Zealand Ltd recorded consolidated revenue of NZ$230,251,000 which resulted in an operating profit before tax of $21,400,000 and after tax of $15,250,000.
At 31 December 2006, the
At 31 December 2006, the
The subject is ultimately owned by General Cable Corporation, a
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)