MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZINDIA LTD |
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Registered Office : |
36-54 Kingsford Smith Street, Wellington |
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Country : |
New Zealand |
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Date of Incorporation : |
14.06.2004 |
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Com. Reg. No.: |
1521564 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Independent Log Export Company with all products
Distributed to India. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
ZINDIA LTD
CORPORATE SEARCH
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Company Number |
1521564 |
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Company |
ZINDIA LIMITED |
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Incorporated |
14-JUN-2004 |
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Current Status |
REGISTERED |
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Entity Type |
Company |
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Constitution Filed |
Yes |
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Annual Return Filing Month |
June |
Previous Names
No Previous Names on record
Address Details
Registered Office
36-54 Kingsford Smith Street
Wellington
New Zealand
Address for Service
36-54 Kingsford Smith Street
Wellington
New Zealand
Directors
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Name |
Date Appointed: |
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Share Parcels
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Total Number of shares |
3,000,000 |
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Number of Shares |
1,500,000 |
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Shareholder(s) |
807957 - FLIGHT FORESTRY LIMITED |
8 Alma Street North, Renwick, Marlborough 7352 |
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Number of Shares |
1,500,000 |
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Shareholder(s) |
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BUSINESS STRUCTURE
TRADING ADDRESS 8 Alma St
North Renwick Marlborough, NZ
TELEPHONE (643) 578 1099
MOBILE 021 514 714 – Richard Osborne
FACSIMILE (643) 578 4613
HOLDING ENTITIESFLIGHT FORRESTRY LTD
SOUNDS OF FOREST LTD
BANK ANZ NATIONAL BANK
EMPLOYEES 4
BACKGROUND
The subject was incorporated in New Zealand on 14 June 2004 under the current style as a new venture.
OPERATIONS
The subject operates as an independent log export company with all product distributed to India.
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 interview conducted with Director, Richard Osborne, he advised that for the last financial year ended 31 March 2008, the subject traded profitably and recorded revenue of NZ$50,000,000 to NZ$60,000,000.
A similar result is forecast for the current financial year ending 31 March 2008.
The New Zealand wood industry as a whole generates $3.1 billion annual in export revenue.
India is New Zealand’s second fastest growing export market and the fifth largest overall.
The subject maintains financing facilities with ANZ National Bank which is used to assist in funding Working Capital requirements.
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:
(Nelson Forest) Purchases average NZ$150,000 to NZ$200,000 per month on 20 day terms. Payment is met in 20 days and the account is considered satisfactory, having been known since 2004.
(643 578 2298) Purchases average over NZ$10,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known since 2004.
SUMMARY
The subject was incorporated in New Zealand on 14 June 2004 under the current style as a new venture.
For the last financial year ended 31 March 2008, the subject traded profitably and recorded revenue of NZ$50,000,000 to NZ$60,000,000.
The subject maintains financing facilities with ANZ National Bank which is used to assist in funding Working Capital requirements.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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%)