MIRA
INFORM REPORT
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Report Date : |
25.11.2008 |
IDENTIFICATION DETAILS
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Name : |
TOPSTYLE NEW ZEALAND PTY LTD |
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Formerly Known as : |
S.J. ENTERPRISES LIMITED |
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Registered Office : |
The Offices of Hayes Knight, Parnell
House, |
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Country : |
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Date of Incorporation : |
20.09.1994 |
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Com. Reg. No.: |
647427 |
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Legal Form : |
Propriety Limited |
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Line of Business : |
Import and Wholesale of Footwear. |
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
TOPSTYLE NEW ZEALAND PTY LTD
CORPORATE SEARCH
Company Number 647427
Company TOPSTYLE
NEW ZEALAND LIMITED
Incorporated 20-SEP-1994
Current Status REGISTERED
Entity Type Company
Constitution Filed Yes
Annual Return Filing Month July
Previous Names
Company Name Date
Changed
S.J. ENTERPRISES
LIMITED 14-JUN-1996
RAWENE ENTERPRISES
SEVEN LIMITED 10-APR-1995
Address Details
Registered Office
The Offices Of Hayes Knight
Parnell House
Address for
Service
The Offices Of Hayes Knight
Parnell House
Directors
Name
Date Appointed:
KENNY, Michael
John 10-JUN-1996
POINTON, Nigel
Russell 05-AUG-1996
Share Parcels
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Total Number of shares |
100 |
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Number of Shares |
49 |
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Shareholder(s) |
POINTON, Nigel
Russell |
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CLERK, Steven
Francis |
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Number of Shares |
49 |
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Shareholder(s) |
KENNY, Michael
John |
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CLERK, Steven
Francis |
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Number of Shares |
1 |
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Shareholder(s) |
KENNY, Michael John
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Number of Shares |
1 |
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Shareholder(s) |
POINTON, Nigel
Russell |
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BUSINESS STRUCTURE
TRADING ADDRESS 1,
AIRPORT
OAKS, MANGERE,
TELEPHONE (649) 256 9530
FACSIMIL (649) 256
9531
BANK NATIONAL
BANK OF
EMPLOYEES 5
BACKGROUND
The subject was incorporated in
Operations were established as a new venture in 1993.
OPERATIONS
The subject operates in the import and wholesale of footwear.
Activities are conducted from leased 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, he confirmed the subjects search and operational details, however declined to provide any financial or trading information as a matter of strict company policy.
It was advised that the company has been trading profitably.
The subject maintains a financing facility with its bankers. This facility is only rarely used as most operations are funded through the cashflows of the company.
Enquiries in trade quarters revealed satisfaction from one supplier contacted in dealing with the subject on a credit basis.
TRADE SURVEY
The subject is noted to import most requirements. A trade survey on the subject traced the following accounts:
- (Messe Reps) Purchases range up to $15,000 per month on short
arranged terms. Payment is met to terms and the account is considered
satisfactory, having been known since 1993.
- (Pacific Network cargo) Nominated supplier failed to respond to
correspondence despite chasing.
SUMMARY
The subject was incorporated in
Operations were established as a new venture in 1993.
Details pertaining to
the subject’s financial position were unable to be obtained for the current
enquiry.
The subject maintains a financing facility with its bankers. This
facility is only rarely used as most operations are funded through the
cashflows of the company.
Enquiries in trade quarters revealed satisfaction from one supplier
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.49.97 |
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1 |
Rs.75.45 |
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Euro |
1 |
Rs.64.21 |
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%)