MIRA INFORM REPORT
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Report Date : |
24.08.2012 |
IDENTIFICATION DETAILS
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Name : |
CARTER HOLT HARVEY PULP & PAPER LIMITED |
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Registered Office : |
173 Captain Springs Road,
Onehunga, Auckland, Zip/postal code 1061 |
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Country : |
New zealand |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
23.05.2003 |
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Com. Reg. No.: |
1308173 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Producer of kraft linerboard
and hardwood pulp |
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No. of Employees : |
1,100 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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New Zealand |
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 |
Verified Address
Subject name : CARTER HOLT HARVEY PULP & PAPER
LIMITED
Business address : State Highway 1
Town : Tokoroa
Province : Waikato
Zip/postal code : 3491
Country : New Zealand
Tel : +64 7 8855999
Fax : +64 7 8855614
Website : www.chhpulpandpaper.com
Registered address : 173 Captain Springs Road
Town : Onehunga
Province : Auckland
Zip/postal code : 1061
Country : New Zealand
Postal address : Private Bag 6
Town : Tokoroa
Province : Waikato
Zip/postal code : 3444
Country : New Zealand
Executive Summary
Date founded or registered : 23/05/2003
Legal form : Private Limited
Company
Chief executive : Jon Ryder
Issued & paid up capital
: USD 474,444,843
Sales turnover : USD
410,805,833 (Non-consolidated 12 months, 31/12/2004)
Net income : USD -37,863,357
(Non-consolidated 12 months, 31/12/2004)
Total fixed assets : USD 569,025,583
(Non-consolidated 12 months, 31/12/2004)
Line of business : Producer of kraft
linerboard and hardwood pulp.
Staff employed : 1,100 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Comments : Larger credit can still be considered. The Subject is
well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date : 23/05/2003
Legal form : Private Limited Company
Registration no 1308173
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Jon Ryder
Designation : Chief Executive Officer
Name : Bryce McCheyne Murray
Designation : Chief Financial Officer
Name : Andrew Anquetil
Designation : Supply Chain Stores Manager
Name : Lyndon Haugh
Designation : Energy Manager
Appointments
Name : Gregory Alan Cole
Designation : Director
Appointment date : 25/06/09
Address : 18 Tarata Street
Mount
Eden, Auckland 1024
New
Zealand
Name : Allen Philip Hugli
Designation : Director
Appointment date : 25/06/09
Address : 1 Hay Place
Epsom,
Auckland 1023
New
Zealand
Name : Bryce McCheyne Murray
Designation : Director
Appointment date : 23/12/09
Address : 14 Siota Crescent
Kohimarama,
Auckland 1071
New
Zealand
Name : Helen Dorothy Golding
Designation : Alternate Director
Appointment date : 23/12/09
Address : 75 Evans Street
Rozelle,
NSW 2039
Australia
Staff employed : 1,100 employees
Composition
Authorized Capital : USD 474,444,843
No of shares : 474,444,843 Shares
Share par value : USD 1
Issued capital : USD 474,444,843
Paid up capital : USD
474,444,843
How listed : Full List
Composition
Shareholder name : CARTER HOLT HARVEY LIMITED
Address : 173 Captain Springs Road
Onehunga,
Auckland 1061
New
Zealand
No. of shares : 474,444,843
Shares
Structure
Name : RANK GROUP LIMITED
Affiliation type : Ultimate Holding Company
Address : Level 9, 148 Quay Street
Auckland Central,
Auckland 1010
New
Zealand
Comments : The company is a privately held
investment company in Auckland, New Zealand.
The company acquisition includes companies from the packaging, consumer goods, building supplies, and automotive aftermarket industries. The company is 100% owned by Mr. Graeme Hart which is New Zealand richest man with a net worth of USD 5.5 billion as of March 2011.
Name : FERNBROOK INVESTMENTS
LIMITED
Affiliation type : Holding Company
Address : Level 9, 148 Quay Street
Auckland
Central, Auckland 1010
New
Zealand
Comments : Investment holding company.
Name : RANK GROUP INVESTMENTS
LIMITED
Affiliation type : Intermediate Holding Company
Address : Level 9, 148 Quay Street
Auckland
Central, Auckland 1010
New
Zealand
Comments : Investment holding company.
Name : CARTER HOLT HARVEY
LIMITED
Affiliation type : Parent Company
Address : 173 Captain Springs Road
Onehunga,
Auckland 1061
New
Zealand
Comments : Carter Holt Harvey Ltd., a
forest products company, provides wood products, pulp, and
paper and packaging products. It offers paper bags and montage graphics. The company was formerly known as Carter Holt Holdings Ltd. and changed its name to Carter Holt Harvey Ltd. in the year 1985. Carter Holt Harvey Ltd. was founded in 1859 and is headquartered in Auckland, New Zealand.
Name : CARTER HOLT HARVEY HBU LIMITED
Affiliation type : Sister Company
Address : 173 Captain Springs Road
Onehunga,
Auckland 1061
New
Zealand
Name : CARTER HOLT HARVEY
INSURANCE LIMITED
Affiliation type : Sister Company
Address : 173 Captain Springs Road
Onehunga,
Auckland 1061
New
Zealand
Name : CARTER HOLT HARVEY
FULLCIRCLE RECYCLING LIMITED
Affiliation type : Sister Company
Address : 173 Captain Springs Road
Onehunga,
Auckland 1061
New
Zealand
Name : CARTER HOLT HARVEY
PENROSE MILL LIMITED
Affiliation type : Sister Company
Address : 173 Captain Springs Road
Onehunga,
Auckland 1061
New
Zealand
Name : CARTER HOLT HARVEY
PACKAGING NZ LIMITED
Affiliation type : Sister Company
Address : 173 Captain Springs Road
Onehunga, Auckland 1061
New Zealand
Name : CARTER HOLT HARVEY EQUITIES LIMITED
Affiliation type : Sister Company
Address : 173 Captain Springs Road
Onehunga,
Auckland 10 61
New
Zealand
Related companies and corporate affiliations comments
Other companies of the Rank Group should be considered affiliates of the Subject.
Bank Details
Name of bank : Bank of New Zealand
Address : New Zealand
Account details : Current Account
Name of bank : ASB Bank Limited
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.
Description
Source of financial statement
: Commercial Registry Filings
Financial statement date : 31/12/04
Type of accounts : Full audited
Currency : US Dollar (USD)
Consolidation type : Non Consolidated Non Consolidated
Currency : US Dollar (USD) US Dollar (USD)
Denomination : (x1) One (x1) One
Date of financial year end : 31/12/04 31/12/03
Length of accounts : 12 months 7 months
Sale turnover / Income : 410,805,833
170,139,391
Profit before tax : -48,055,394 -29,059,807
Net income : -37,863,357 -24,687,797
Non current assets : 422,975,450 458,158,509
Current assets : 146,050,133 127,426,066
Inventories : 81,153,693 75,810,538
Total assets : 569,025,583 585,584,575
Current liabilities : 34,415,155 39,668,205
Non current liabilities : 122,716,739 96,159,324
Total liabilities : 157,131,894 135,827,529
Share equity : 411,893,689 449,757,046
Retained earning : -62,551,154 -24,687,797
Comments : The Subject latest financial information
is not available
Main activities : The Subject is engaged as producer
of kraft linerboard, hardwood pulp,
corrugated cardboard etc.
The
Subject operates from four mills located in Kinleith, Tasman, Whakatane, and
Penrose.
Purchases
International : Asia, Europe, United States
Sales
Local : Yes
International : Australia, Asia countries
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of production mill, warehouse and
administrative office.
This production facilities is
also known as the Kinleith Mill.
Kinleith Mill is located near Tokoroa in New Zealand's Central North Island Region.
Kinleith is the largest mill, producing bleached and unbleached softwood kraft pulp and a range of linerboards and medium used in packaging.
Branches : In addition, the Subject operates from 3 other production mills located at Tasman,
Whakatane, and Penrose.
Tasman Mill is located in the Bay
of Plenty Region of New Zealand near Kawerau. Here the Subject manufactures a
range of specialty pulp products used by manufacturers of high quality paper,
tissue and building products. Whakatane Mill is also located in the Bay of
Plenty Region of New Zealand near the Whakatane township. Here the Subject
manufactures a range of coated cartonboards used to package FMCG products.
Penrose Mill is located in Auckland, close to a ready supply of waste paper
from New Zealand's largest population centre and to two of the country's
largest producers of corrugated packaging
Gross Domestic
Products (GDP) & Economic Overview
Central bank Reserve Bank of New Zealand
Reserve of foreign exchange & gold US$ 20.562 billion
Gross domestic product - GDP US$ 153.252 billion
GPP (Purchasing power parity) 120.2 billion of International dollars
GDP per capita - current prices US$ $34,701
GDP - composition by sector agriculture: 4.6% industry: 23.7% services: 71.7%
Inflation 2008: 4%
2009: 2.1%
2010: 2.5%
Unemployment
rate 2008:4.2%
2009: 6.2%
2010: 6.2%
Public debt
(General Government gross
debt as a % GDP) 2008: 20.4 %
2009: 26.2%
2010: 31 %
Government bond
ratings Standard
& Poor's: AA+/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 67.061 Billion
Largest companies in the country : Telecom of New Zealand, Trans power, 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$31.11 billion
Imports commodities machinery and equipment, vehicles and aircraft, petroleum,
electronics, textiles, plastics
Export - major partners Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%
Import - major partners Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%,
Germany 4.7%
FDI Inflows 2008: US$ 4,5981 million
2009: US$ -1,293 million
2010: US$ 561 million
FDI Outflows 2008: US$ 462 million
2009: US$-308 million
2010: US$589 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 Dollar (NZD)
Internet
users as % of total population
:
84.38%
Purchase Term
Local : Prepayment, Bank
transfer, Credit up to 150 days
International : L/C, Telegraphic transfer,
Credit up to 150 days
Sales Term
Local : Prepayment, Bank transfer,
Credit up to 150 days
International : L/C, Telegraphic transfer,
Credit up to 150 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.38 |
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UK Pound |
1 |
Rs.87.80 |
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Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.