MIRA INFORM REPORT
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Report Date : |
18.03.2011 |
IDENTIFICATION DETAILS
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Name : |
ARIES INTERNATIONAL LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13.02.2003 |
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Legal Form : |
Limited Company |
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Line of Business : |
subject operates
as the purchasing arm of the group |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME
ARIES INTERNATIONAL
LTD
CN: 1274602
CORPORATE SEARCH
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Entity Type: |
NZ Limited Company |
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Incorporated: |
13 Feb 2003 |
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Current Status: |
Registered |
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Constitution Filed: |
No |
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Annual Return Filing Month: |
February |
Registered Office
Address for Service
Directors
XIANG, Chun
Shareholdings
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Total Number of Shares: |
21,000 |
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Extensive Shareholdings: |
No |
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21,000 |
XIANG, Chun |
BUSINESS STRUCTURE
TRADING ADDRESS 35 Charles Upha Ave
TELEPHONE (643) 960 0892
ASSOCIATED ENTITIES ENGINEERING CAD SERVICES LTD
PRECISION CNC LTD T/AS REVOLUTION PRECISION
MACHINERY
BANK NATIONAL
BANK OF
EMPLOYEES 1 plus 2 part time
BACKGROUND
The subject was incorporated in
OPERATIONS
The group operates
in the import, repair and distribution of industrial machine tools including
toolroom and sheetmetal machinery.
The subject
operates as the purchasing arm of the group.
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 Manager he advised that the subject operates as the purchasing arm of the group with most sales conducted by Precision CNC Ltd.
The group generally generates revenue of between NZ$500,000 and NZ 800,000 per annum.
For the last financial year ended 31 March 2010 the group recorded revenue of NZ$400,000. A similar result is expected for the current financial year ending 31 March 2011.
The subjects operations in recent years have been affected by the global financial crisis.
The group presently has sales contracts on hand valued at NZ$800,000. These sales will be included in the 2012 financial results.
Stock levels are generally between $200,000 and $300,000. At present stock levels are valued at $700,000.
The Group maintains an overdraft facility with its bankers which has a $20,000. This facility is rarely used as operations are generally funded through the internal cash flows of the company.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
1. (Mackley Transport) Nominated supplier failed to trace an account under the subjects name.
SUMMARY
The subject was incorporated in
The subject operates as the purchasing arm of the group with most sales conducted by Precision CNC Ltd.
The group generally generates revenue of between NZ$500,000 and NZ 800,000 per annum.
For the last financial year ended 31 March 2010 the group recorded revenue of NZ$400,000. A similar result is expected for the current financial year ending 31 March 2011.
The group presently has sales contracts on hand valued at NZ$800,000. These sales will be included in the 2012 financial results.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.24 |
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1 |
Rs.72.57 |
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Euro |
1 |
Rs.63.00 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.