MIRA
INFORM REPORT
|
Report Date : |
23.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KIWI AIR PTY LTD |
|
|
|
|
Registered Office : |
1 Peel Street Gisborne |
|
|
|
|
Country : |
New Zealand |
|
|
|
|
Date of Incorporation : |
20.10.2005 |
|
|
|
|
Com. Reg. No.: |
1701663 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Leasing of Aircraft and Training of Pilots. |
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
KIWI AIR PTY LTD
CORPORATE SEARCH
Company Number 1701663
Company KIWI
AIR LIMITED
Incorporated 20-OCT-2005
Current Status REGISTERED
Entity Type Company
Constitution Filed Yes
Annual Return
Filing Month March
Previous Names
No Previous Names on record
Address Details
Registered Office
1 Peel Street
Gisborne
Address for Service
431 Awapuni Road
Rd1
Gisborne
Directors
Name Date
Appointed:
EDWARDS, Kathryn Alice
25-JUN-2007
126 Sheehan Street, Gisborne
STEVENSON, Andrew Francis Barr
20-OCT-2005
431 Awapuni Road, Rd 1, Gisborne
STEVENSON, Andrew Guy
25-JUN-2007
8 Wall Street, Taupo
WILLIAMS, Eileen Margaret Mary
25-JUN-2007
Awapuni Road, RD1, Gisborne
Total Number of shares 100
Number of Shares 35
Shareholder(s) EDWARDS, Kathryn Alice 126 Sheehan Street, Gisborne
Number of Shares 35
Shareholder(s) STEVENSON, Andrew Guy 8 Wall Street, Taupo
Number of Shares 15
Shareholder(s) STEVENSON, Andrew Francis Barr 431 Awapuni Road, Rd 1, Gisborne
Number of Shares 15
Shareholder(s) WILLIAMS, Eileen Margaret Mary Awapuni Road, Rd1, Gisborne
BUSINESS STRUCTURE
TRADING ADDRESS Awapuni
Rd
RD1
GISBOURNE, NZ
TELEPHONE (649) 867 9081
FACSIMILE (649) 867
9852
BANK BNZ
EMPLOYEES Not
determined
BACKGROUND
The subject was incorporated in New Zealand on 20 October 2005 to
commence operations under the current style.
The subject was formed to restructure the assets and operations of an
existing business that has been established for over 20 years.
OPERATIONS
The subject operates in the in leasing of aircraft and training of
pilots.
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 the subjects Financial Controller, she 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, the subject is noted 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:
- (BDO Spices – Accountant) Purchases are of an undisclosed amount with payment due on the 20th day of the following month. Payment is met to terms and the account is considered satisfactory, having been known over 20 years.
- (G C Aviation) Purchases average $25,000 with payment due on the 20th day of the following month. Payment is met to terms and the account is considered satisfactory, having been known over 3 years.
- (Flight care) Nominated supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in New Zealand on 20 October 2005 to
commence operations under the current style.
The subject was formed to restructure the assets and operations of an existing
business that has been established for over 20 years.
Details pertaining to the subject’s financial position were unable to be
obtained for the current enquiry.
In regards to asset backing, the subject is noted 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.
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%)