MIRA INFORM REPORT

 

 

Report Date :

17.08.2007

 

IDENTIFICATION DETAILS

 

Name :

SEGARD MASUREL (NZ) LTD

 

 

Registered Office :

20-26 Ballance Street, Wellington

 

 

Country :

New Zealand (Aotearoa)

 

 

Date of Incorporation :

30.11.1965

 

 

Legal Form :

Limited Company

 

 

Line of Business :

The subject operates as wool merchants and exporters

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

COMPANY NAME     

 

SEGARD MASUREL (NZ) LTD

 

 

CORPORATE SEARCH

 

Company Number                                   18188                                                                         

                                                                                                                                                

Company                                               SEGARD MASUREL (NZ) LIMITED                                   

                                                                                                                                               

Incorporated                                           30-NOV-1965                                                               

                                                                                                                                                  

Current Status                                        REGISTERED                                                                 

                                                                                                                                                  

Entity Type                                            Company                                                                        

                                                                                                                                                  

Constitution Filed                                   No                                                                                  

                                                                                                                                                  

Annual Return Filing Month                     August                                                                            

 

 

Previous Names   

 

(Names changed prior to 1992 may not be recorded)

 

Company Name                                                                             Date Changed

MASUREL FILS NZ LIMITED                                                           31-OCT-2005

 

 

ADDRESS

 

Registered Office

20-26 Ballance Street,

Wellington

Address for Service

20-26 Ballance Street,

Wellington

 

 

Directors

 

(Where appointments are prior to February 1993 the date shown may relate to when the information was entered on this database.)

Name                                                                                        Date Appointed:

SPEIGHT, Glenn                                                                      24-NOV-1992

5 Ocean Road,, Paekakariki

WHITEMAN, Peter J                                                                 28-FEB-1997

11 Fitzroy Street, Wadestown

Share Parcels

Total Number of shares                3,611,000

                                                                                                  

Number of Shares                       1,305,500                                       

Shareholder(s)                            SEGARD ANTOINE                        France

                                                                                                  

Number of Shares                       1,305,500                                       

Shareholder(s)                            JASON HOLDING A G                    Switzerland

 

           

BUSINESS STRUCTURE

 

TRADING ADDRESS                 9TH FLOOR, 95 TO 99 Molesworth Dt WELLINGTON, NZ 6001

 

TELEPHONE                             (644) 472 3596

 

FACSIMILE                               (644) 473 9727

 

CONTROLLED ENTITY               MASUREL FILS (AUSTRALIA) LTD

 

BANK                                       Not determined 

                                               

EMPLOYEES                            Not determined

           

 

BACKGROUND

 

The subject was incorporated in New Zealand on 30 November 1965 as Masurel Fils NZ Ltd, before adopting the current style on 31 October 1995.

 

                       

OPERATIONS

 

The subject operates as wool merchants and exporters.

 

Activities are conducted from premises located at the above listed trading address.

 

 

FINANCES

 

During the current investigation, contact with the subjects Financial Controller was unable to be established. It was advised that he is away n business and could not be contacted for an interview.

 

From the subjects most recently lodged financial statements, it is noted that for the financial year ended 30 June 2005 the subject recorded consolidated revenue of $125,117,793, which resulted in an operating profit before tax of $1,716,533 and an operating profit after tax of $1,139,577 representing a Net Profit Margin of 0.91%.

 

Below is a summary of the subject’s income results for the past two financial years.

 

 

Sergard Masurel (NZ) Ltd - consolidated

 

As at 30 June 2005

As at 30 June 2004

Change (%)

Revenue

$125,117,793

$132,593,887

-5.64%

Profit b/tax

$1,716,533

$2,180,172

-21.27%

Profit a/tax

$1,139,577

$1,459,161

-21.90%

Net Profit Margin

0.91%

1.10%

-0.19%

 

As at 30 June 2005, the subject recorded total current assets of $26,806,469. They included receivables of $20,452,863 and stock on hand of $5,803,194.

 

Current liabilities at the same date totaled $15,247,599 and included payables of $9,768,294 and borrowings of $5,457,964.

 

As at 30 June 2005 the subject recorded Working Capital of $11,558,903 and a current ratio of 1.76 to 1 indicating sound liquidity levels.

 

Net Assets totaled $11,875,200 as at 30 June 2005. At this date, the subject further recorded a Debt to Equity ratio of 1.29 to 1.

 

 

 

 

Sergard Masurel (NZ) Ltd - consolidated

 

As at 30 June 2005

As at 30 June 2004

Change (%)

Revenue

$125,117,793

$132,593,887

-5.64%

Profit b/tax

$1,716,533

$2,180,172

-21.27%

Profit a/tax

$1,139,577

$1,459,161

-21.90%

Net Profit Margin

0.91%

1.10%

-0.19%

Current Assets

$26,806,469

$26,193,554

2.34%

Non Current Assets

$445,046

$340,892

30.55%

Total Assets

$27,251,515

$26,534,446

2.70%

Current Liabilities

$15,247,566

$14,781,441

3.15%

Non Current Liabilities

$128,749

$10,572

1117.83%

Total Liabilities

$15,376,315

$14,792,013

3.95%

Net Assets

$11,875,200

$11,742,433

1.13%

Working Capital

$11,558,903

$11,412,113

1.29%

Current Ratio

1.76

1.77

-0.79%

Debt to Equity

1.29

1.26

2.79%

 

 

TRADE SURVEY

 

During the current investigation, contact with the subjects 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 New Zealand on 30 November 1965 as Masurel Fils NZ Ltd, before adopting the current style on 31 October 1995.

                       

for the financial year ended 30 June 2005 the subject recorded consolidated revenue of $125,117,793, which resulted in an operating profit before tax of $1,716,533 and an operating profit after tax of $1,139,577 representing a Net Profit Margin of 0.91%.

 

As at 30 June 2005 the subject recorded Working Capital of $11,558,903 and a current ratio of 1.76 to 1 indicating sound liquidity levels.

 

Net Assets totaled $11,875,200 as at 30 June 2005.

 

                                                           

                                               

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

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