MIRA INFORM REPORT
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Report Date : |
16.03.2011 |
IDENTIFICATION DETAILS
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Name : |
EZIBUY OPERATIONS LTD |
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Formerly Known As : |
Ezibuy Retail Ltd |
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Registered Office : |
Level 4, The Textile Centre, |
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Country : |
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Date of Incorporation : |
14.11.2003 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import and retail of clothing,
raw materials and associated supplies |
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
EZIBUY OPERATIONS LTD
CORPORATE SEARCH
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Entity Type: |
NZ Limited Company |
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Incorporated: |
14 Nov 2003 |
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Current Status: |
Registered |
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Constitution Filed: |
Yes |
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Annual Return Filing Month: |
May |
Company
Addresses
Registered Office
Level 4, The Textile Centre,
Address for Service
Level 4, The Textile Centre,
Directors
GILLESPIE, Gerard
Francis
27
Shareholdings
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Total Number of Shares: |
1,000 |
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Extensive Shareholdings: |
No |
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1,000 |
297449 EZIBUY
LIMITED Level
4, The Textile Centre, |
BUSINESS STRUCTURE
ADMINISTRATION Level
4
PARNELL
TELEPHONE (649) 379 7238
DISTIRBUTION 31
El Prado Dr
PALMERSTON
NORTH, NZ 4470
HOLDING
ENTITY EZIBUY
LIMITED
ULTIMATE HOLDING
ENTITY EZIBUY
HOLDINGS LTD
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 650
(group)
BACKGROUND
The subject was incorporated in
On 31 March 2008 the subject was amalgamated with Ezibuy Director Ltd
and Ezibuy Imports Ltd.
The group started in
Palmerston North in 1978 and expanded to
The group now dispatches on
average 9,000 parcels a day to Australasian shoppers and employs over 650 team
members.
OPERATIONS
The subject operates in the import and retail of clothing, raw materials
and associated supplies for the group.
The group is
The group makes its core
fashion and homeware collections available through catalogues and via its
website. It also has retail stores in
The womenswear collection
offers a comprehensive range that includes three distinct brands -
Capture, Emerge and Grace Hill - plus the extended choice offered by
exclusive brands Glory, Together, Apart and Urban. A brand called Sara consisting of size 16+
women's fashion completes the range.
In addition to the
menswear, homeware and giftware ranges, the group also provides corporate
apparel and gifts, workwear, team clothing and schoolwear in
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 investigation contact with the subjects Financial
Controller Ian Thron was unable to be established. Despite messages being left,
a reply is yet to be received.
Previous investigations have revealed that for the last financial year
ended 31 March 2010 the holding entity Ezibuy Ltd recorded consolidated revenue
of NZ$241 million which resulted in an operating profit before tax of NZ$9,400,000.
TRADE SURVEY
During the current investigation, contact with the subject’s principals
was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
The group started in
Palmerston North in 1978 and expanded to
Current financial and
trading details pertaining to the subject were unable to be obtained for the
current enquiry.
Previous investigations have revealed that for the last financial year
ended 31 March 2010 the holding entity Ezibuy Ltd recorded consolidated revenue
of NZ$241 million which resulted in an operating profit before tax of
NZ$9,400,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.15 |
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1 |
Rs.72.59 |
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Euro |
1 |
Rs.62.95 |
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.