MIRA INFORM REPORT

 

 

Report Date :           

29.09.2011

 

IDENTIFICATION DETAILS

 

Name :

BLUE PRINT IMAGING LIMITED

 

 

Formerly Known As :

JUST SCREEN LIMITED

 

 

Registered Office :

C/O Robertson Bixley Ltd, 33 Coles Crescent,  Papakura, Auckland, Postal Code  2110

 

 

Country :

New Zealand

 

 

Date of Incorporation :

07.02.1994

 

 

Com. Reg. No.:

618723

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Providers of digital equipment and media solutions

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 180,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

New Zealand

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Identification details  Bottom of Form

 

 

Verified Address

 

Subject name                :   BLUE PRINT IMAGING LIMITED

Business address          :   3 Inlet Road

Town                             :   Takanini

Province                        :   Auckland

Zip/postal code              :   2244

Country                         :   New Zealand

Tel                                :   +64 9 2997770

Fax                               :   +64 9 2997771

Website                        :   www.blueprintimaging.co.nz  

 

Registered address        :   C/o ROBERTSON BIXLEY LTD

33 Coles Crescent

Town                             :   Papakura

Province                        : Auckland

Zip/postal code              :   2110

Country                         :   New Zealand

 

Postal address              :   P. O. Box 272 1130

Town                             :   Papakura

Province                        :   Auckland

Zip/postal code              :   2244

Country                                                           :   New Zealand

 

 

Summary details

 

Executive Summary

Date founded or registered          :   07/02/1994

Legal form                                 :   Private Limited Company

Chief executive                          :   Richard William Day

Issued & paid up capital             :   NZD 2,000

Line of business             :   Providers of digital equipment and media solutions.

Staff employed                                                                        :   35 employees

 

 

Credit risk opinion

 

Company Analysis

Country risk                               :   Country risk is minimal

Operation trend                          :   Operational trend is steady

Management experience :   Management is reasonably experienced

Financial performance                :   Financial performance is good

Organization structure                :   Organizational structure is stable

Detrimental                    :   No detrimental records found

Payment history                                    :   No payment delays noted

Credit amount suggestion     :   USD 180,000

Credit amount asked                                      :   USD 50,000

 

 

Statutory details

 

Registry Data

 

Registration date                                   :   07/02/1994

 

Legal form                                            :   Private Limited Company

 

Registration no                                         618723

 

Registered authority                              :   New Zealand Companies Office

 

Registry status                                     :   Live/Active

 

Previous name                                      :   The Subject was established under the name JUST SCREEN LIMITED

                                                            on 07-02-1994 and changed to the current style 30-07-2004.

 

Change of legal form                                                                                   :   None reported.

 

 

Management / directors

 

Key Management

 

Name                :           Richard William Day

Designation       :           Director

 

Name                :           Geoffrey Robert Milliken

Designation       :           Director

 

Name                :           David Anthony Thomas Raos

Designation       :           National Media Manager

 

Name                :           Angela Margison

Designation    :                       Administration Manager

 

 

 

 

 

Board of directors / other appointments

 

Appointments

 

Name                           :      Richard William Day

 

Designation                   :      Director

 

Appointment date          :      07/02/94

 

Address                        :      390 Clevedon-kawakawa Road, Rd 5

Papakura, 2585

New Zealand

 

Name                           :      Geoffrey Robert Milliken

 

Designation                   :      Director

 

Appointment date          :      07/02/94

 

Address                        :      247 Clevedon-kawakawa Road

Rd 5, Papakura, 2585

New Zealand

 

Staff employed                                                :            35 employees

 

 

Share capital

 

Composition

 

Authorized Capital                                 :   NZD 2,000

 

No of shares                                         :   2,000 Shares

 

Share par value                                     :   NZD 1

 

Issued capital                                       :   NZD 2,000

 

Paid up capital                                                                                              :   NZD 2,000

 

 

 

ownership / shareholders

 

How listed         :   Full List

 

Composition

 

Shareholder name          :   Richard William Day

Address                        :   390 Clevedon-kawakawa Road, Rd 5

Papakura, 2585

New Zealand

No. of shares                 :   1,000 Shares

 

Shareholder name          :   Geoffrey Robert Milliken

Address                        :   247 Clevedon-kawakawa Road

Rd 5, Papakura, 2585

New Zealand

 

No. of shares                          :   1,000 Shares

 

 

Related companies & corporate Affiliations

 

Structure

 

Name                :   JUST DIGITAL LIMITED

Affiliation type    :   Sister Company

Address            :   New Zealand

 

Name                :   SUN GRAPHIC (2005) LIMITED

Affiliation type    :   Sister Company

Address            :   New Zealand

 

Name                :   LCS 2011 LIMITED

Affiliation type    :   Sister Company

Address            :   New Zealand

 

 

Bank & mortgages

 

Bank Details

 

Name of bank    :   Bank of New Zealand

 

Address            :   New Zealand

 

Account details  :   Current Account

 

Comments                                            :   It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

 

 

Mortgages          :   None reported.

 

 

Legal Fillings

Bankruptcy fillings          :   None reported.

Court judgements           :   None reported.

Tax liens                       :   None reported.

Others                          :   None reported.

 

 

financials

 

Description

 

Comments                                            :   The representative contacted Ms. Angela Margison advised that annual turnover is between NZD 10,000,000 to NZD 20,000,000. She further declined to provide the annual financial information.

 

Private Companies in New Zealand are not required to file accounts unless classified as "Large", which at the moment means that two out of the following

- The company has a sales turnover of over NZD 20,000,000;

- The company has total assets of over NZD 10,000,000;

- The company employs 50 people or more.

The Subject does not meet the criteria of being a large Private Company.

 

 

 

Operation details

 

Main activities                :   The Subject is engaged as providers of digital equipment and media solutions.

 

Product & services         :   Digital Imaging

Screenprinting

Narrow web Printing Inks

Coatings and varnishes

 

Purchases

 

International       :   Mainly from Australia, South Korea, Japan, China, France, Germany, Italy, United Kingdom,

United States

 

 

Sales

 

Local                :   Yes

 

International       :   Very seldom to the Pacific Island

 

Key events                                           :   The asset and creditor of LABEL CONVERTERS SUPPLY LIMITED has been taken over by the Subject since March 1, 2011. As part of the transition Blue Print Imaging Limited established the entity LCS 2011 Limited on 25 February 2011 however the business will be operating as a division of Blue Print Imaging Limited and not as a separate entity of LCS 2011 Limited. As part of the term of the acquisition, Mr. David Anthony Thomas Raos will be contracted with Blue Print Imaging Limited as a National Media Manager for 3 years.

 

The acquisition by Blue Print Imaging Limited was to form a full-featured digital solutions company.

 

 

 

On 1 August 2011, Blue Print Imaging Ltd, one of New Zealand's leading providers of digital equipment and media solutions, announce the acquisition of Halifax Vogel Group's (HVG) New Zealand operation. Like Blue Print Imaging, HVG in New Zealand specialise in the supply of digital media with high quality products from suppliers including 3A Composites with brand names such as Dibond, Forex, Kapa and Gatorfoam.

 

Blue Print Imaging will run its rigid board division from the current HVG premises in East Tamaki and are taking on Mike Tate, the HVG Customer Service and Warehouse Manager. Mike will continue to service HVG's existing customers to ensure business continuity and as such the current phone and fax numbers will be remaining the same.

 

As a result of combining the wealth of experience and knowledge of Blue Print Imaging, the recently acquired LCS and now the New Zealand division of HVG, Blue Print Imaging becomes a complete solution provider to the customers they service.

 

Property & Assets

 

 

Premises                                             :   The Subject operates from premises located at the verified heading address consisting of administrative office and warehouse.

Branches                                             :   In addition, the Subject operates from branch offices located at:

 

11 Sydney Street Petone, Wellington New Zealand

+64 4 568 3555

 

32 Hawdon Street Sydenham, Christchurch New Zealand

+64 3 374 2227

 

 

Summarized country risk

 

Gross Domestic Products (GDP) & Economic Overview

 

Central bank                                          :   Reserve Bank of New Zealand

Reserve of foreign exchange & gold         :   US$ 18.421 billion

Gross domestic product - GDP               :   US$ 140,434 billion

GPP (Purchasing power parity)               :   119.791 billion of International dollars

GDP per capita - current prices               :   US$ $32,145

GDP - composition by sector                  :   agriculture: 4.6% industry: 23.7% services: 71.7%

 

Inflation                                                 2008: 4%

2009: 2.1%

2010: 2.5%

 

Unemployment rate                                2008 4.2%

2009 6.2%

2010 6.2 %

 

Public debt

(General Government gross

debt as a % GDP)                                  2008:  20.4 %

2009:   26.2%

2010:    31 %

 

Government bond ratings                        Standard & Poor's: AA+/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

 

Market value of publicly traded shares      US$ 67.061 Billion

 

Largest companies in the country            Telecom of New Zealand, Transpower, Fletcher Building,Infratil

 

Trade & Competitiveness Overview

 

Total exports                             US$29.53 billion

 

Exports commodities                 dairy products, meat, wood and wood products, fish, machinery

 

Total imports                             US$31.11 billion

 

Imports commodities                  machinery and equipment, vehicles and aircraft, petroleum, electronics,textiles,

plastics

Export - major partners               Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%

 

Import - major partners               Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%, Germany

4.7%

FDI Inflows                                2007: US$3,441 million

2008: US$4,993 million

2009: US$348 million

 

FDI Outflows                              2007: US$3,703 million

2008: US$-239 million

2009: US$-406 million

 

 

Best countries for doing business           :   3 out of 183 countries

 

Global competitiveness ranking                                                                   :   23 (ranking by country on a basis of 133, the first is the best)

 

 

Country and Population Overview

 

Total population                                    :   4.37 million

 

Total area                                             :   270,467 km2

 

Capital                                                 :   Wellington

 

Currency                                                                                                      :   New Zealand dollars (NZD)

Internet users as % of total population     : 84.38%

 

 

Payment history

 

Purchase Term

 

International                                          :   Credit 60-90 days, 20% L/C, Telegraphic transfer

 

 

Sales Term

 

Local                                                    :   Credit 30 days

 

International                                          :   Prepayment, Credit 30 days

 

 

 

Trade Reference/ Payment Behaviour

 

Comments                                            :   As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

 

 

Investigation Note

 

Sources                                               :   Interviews and material provided by the Subject

 

:   Other official and local business sources

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.18

UK Pound

1

Rs.76.65

Euro

1

Rs.66.63

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.