MIRA INFORM REPORT

Report Date :

05.12.2008

IDENTIFICATION DETAILS

Name :	DAVIDSON PLASTICS (AUCKLAND) LTD
Registered Office :	51B Druces Road, Manukau City, Auckland
Country :	New Zealand
Date of Incorporation :	23 August 1990
Com. Reg. No.:	481081
Legal Form :	Private Limited Company
Line of Business :	Manufacture of Low Density Polyethylene Plastic Film and Plastic Bags

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
Payment Behaviour :	No Complaints
Litigation :	Clear

REGISTERED NAME

DAVIDSON PLASTICS (AUCKLAND) LTD

CORPORATE SEARCH

Company Number	481081
Company	DAVIDSON PLASTICS (AUCKLAND) LIMITED
Incorporated	23-AUG-1990
Current Status	REGISTERED
Entity Type	Company
Constitution Filed	Yes
Annual Return Filing Month	November

Previous Names   

(Names changed prior to 1992 may not be recorded)

No Previous Names on record

Address Details

Registered Office

51B Druces Road

Manukau City

Auckland

Address for Service

51b Druces Road

Manukau City

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:

DAVIDSON, Gary Robert 23-AUG-1990

51B DRUCES ROAD, MANUKAU CITY

Share Parcels

	Total Number of shares	10,000
	Number of Shares	9,998
	Shareholder(s)	DAVIDSON, GARY ROBERT	51b Duces Road, Manukau City
		WILLIAMS, WILLIAM KENNETH	51b Duces Road, Manukau City
		DANIEL, DAVID CLOSTER	33 Selwyn Street, Onehunga
	Number of Shares	2
	Shareholder(s)	DAVIDSON, GARY ROBERT	51b Druces Road, Manukau City

BUSINESS STRUCTURE

TRADING ADDRESS 51b Druces Hwy

MANUKAU, NZ

TELEPHONE (649) 263 9955

MOBILE 021 979 959

ASSOCIATED ENTITY DAVIDSON PLASTICS TAURANGA LTD

BANK BANK OF NEW ZEALAND

EMPLOYEES 10

BACKGROUND

The subject was incorporated in New Zealand on 23 August 1990 under the current style.

Operations were originally founded as a new venture in 1985.

OPERATIONS

The subject operates in the manufacture of low density polyethylene plastic film and plastic bags.

Products Include: 

• Loose Cut Bags / perforated bags
• Shrink Film / bundle wrap
• Magazine wrap / flow wrap
• Stretch Wrap / pallet wrap
• Bags on Rolls
• Produce Bags
• Rubbish Bags and bin liners
• Plastic Bags Can Be Plain or Printed
• Degradable Plastic
• Large industrial liners perforated on rolls
• Perforated sheets / pallet caps
• Timber wrap plain + printed and coloured to suit
• Polytubing
• Resealable bags

FINANCES

The subject is not required to lodge financial statements with the New Zealand Companies Office.

During the current interview conducted with Director Gary Davidson, he confirmed the subjects search and operational details, however declined to provide any financial information as a matter of strict company policy.

Subsequently details in this regard were unable to be obtained during the current investigation.

In regards to asset backing, Director Gary Davidson is advised to own the premises located at the above listed trading address.

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

TRADE SURVEY

A trade survey on the subject traced the following accounts:

(The Packaging Connection) Purchases average $3,000 to $6,000 per month on 20 day terms. Payment is met in 20 days and the account is considered satisfactory, having been known over 5 years.

(Polypak Plastics) Nominated supplier failed to respond to correspondence despite chasing.

SUMMARY

The subject was incorporated in New Zealand on 23 August 1990 under the current style.

Operations were originally founded as a new venture in 1985.

In regards to asset backing, Director Gary Davidson is advised to own the premises located at the above listed trading address.

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.69
UK Pound	1	Rs.72.96
Euro	1	Rs.63.46

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%)

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