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Report Date : |
29.08.2012 |
IDENTIFICATION DETAILS
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Name : |
DAVIS TRADING
COMPANY LIMITED |
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Formerly Known As : |
EDIBLE OILS LIMITED (until 05 Aug 1971) |
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Registered Office : |
91 Carbine Road Mt Wellington Auckland 1060 |
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Country : |
New Zealand |
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Date of Incorporation : |
30.06.1967 |
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Com. Reg. No.: |
20032 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, repackaging and distributors of food ingredients. |
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No. of Employees : |
200 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 : DAVIS TRADING COMPANY
LIMITED
Business address :
91 Carbine Road
Town : Mount
Wellington
Province : Auckland
Zip/postal code : 1060
Country : New Zealand
Tel : +64 9
5742250
Fax : +64 9
5730055
Website : www.davis.co.nz
Registered address
: 91 Carbine Road
Town : Mt
Wellington
Province : Auckland
Zip/postal code : 1060
Country : New Zealand
Postal address : P.O. Box 132159
Town : Sylvia
Park
Province : Auckland
Zip/postal code : 1644
Country : New Zealand
Executive Summary
Date founded or
registered : 30/06/1967
Legal form : Private Limited
Company
Chief executive : Michael Thomas McGuinness
Issued & paid
up capital : NZD 760,800
Sales turnover : USD 100,000,000 (Estimated
Non-consolidated 12 months, 31/03/2011)
Line of business :
Importers,
repackaging and distributors of food ingredients.
Staff employed : 200 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
Registry Data
Registration date
: 30/06/1967
Legal form : Private Limited
Company
Registration no 20032
Registered
authority : New Zealand
Companies Office
Registry status : Live/Active
Previous name : EDIBLE OILS LIMITED
(until 05 Aug 1971)
Change of legal
form : None reported.
Key Management
Name : Michael Thomas
McGuinness
Designation : Chief Executive Officer
Appointments
Name : Daniel John Coates
Designation : Director
Appointment date :
01/09/02
Address : 21 Orakau Avenue
Epsom, Auckland 1023
New Zealand
Name : Philip John Marshall
Designation : Director
Appointment date : 31/03/01
Address : 3/108 Kauri Point Road
Katikati, Bay Of Plenty 3166
New Zealand
Name : Kerry Alexander McGown
Designation : Director
Appointment date :
01/07/97
Address : 12F Military Road
Boulcott, Lower Hutt 5010
New Zealand
Name : Michael Thomas
McGuinness
Designation : Director
Appointment date :
01/04/87
Address : 21 Benbow Street
St Heliers, Auckland 1071
New Zealand
Name : Ian Warren McSweeney
Designation : Director
Appointment date :
16/03/94
Address : 62 Te Awe Awe Street
Palmerston North 4410
New Zealand
Staff employed : 200 employees
Composition
Authorized Capital
: NZD 760,800
No of shares : 760,800 Shares
Share par value : NZD 1
Issued capital : NZD 760,800
Paid up capital : NZD 760,800
How listed : Full
List
Composition
Shareholder name :
Michael Thomas McGuinness
Address : 21 Benbow Street
St Heliers, Auckland 1071
New Zealand
No. of shares : 434,970 Shares
Shareholder name :
Daniel John Coates
Address : 21 Orakau Avenue
Epsom, Auckland 1023
New Zealand
No. of shares : 125,309 Shares
Shareholder name :
Philip John Marshall
Address : 3/108 Kauri Point Road
Katikati, Bay Of Plenty 3166
New Zealand
No. of shares : 67,785 shares
Shareholder name :
Maree Marshall
Address : 3/108 Kauri Point Road
Katikati, Bay Of Plenty 3166
New Zealand
No. of shares : 67,785 shares
Shareholder name :
Jointly held by Kerry Alexander
McGown & Laura McGown
Address : Kerry Alexander McGown
& Laura McGown
12F Military Road
Boulcott, Lower Hutt 5010
New Zealand
No. of shares : 36,359 Shares
Shareholder name :
Ian Warren McSweeney
Address : 62 Te Awe Awe Street
Palmerston North 4410
New Zealand
No. of shares : 28,592 shares
Structure
Name : THE THREE MAC COMPANY
LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 91 Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Name : DAVIS FOODS LIMITED
Affiliation type : Associate
Address : 91 Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Name : TUSCAN PROPERTY
INVESTMENTS LIMITED
Affiliation type :
Associate
Address : 91 Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Bank Details
Name of bank : Westpac 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.
Description
Source of
financial statement : External Sources
Financial
statement date : 31/03/11
Type of accounts :
Estimated key figures
Currency : US Dollar (USD)
Consolidation type
: Non Consolidated
Currency : US Dollar (USD)
Denomination : (x1) One
Date of financial
year end : 31/03/11
Length of accounts
: 12 months
Sale turnover /
Income : 100,000,000
Comments : 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
three conditions are met:
- 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 meets the criteria of being a large Private Company however
is
exempted from filling their financial information.
Main activities : The Subject is engaged in
importation, repackaging and distribution of food
Ingredients.
Purchases
International : Thailand, China, India, South Korea, Japan,
Malaysia, Indonesia, United
States, Australia, Tunisia, Fiji, Italy, Holland
Sales
Local : Yes
International :
Pacific Islands, Australia
Property & Assets
Premises : The Subject operates from the verified
heading address consisting of
warehouse and administrative office.
Branches : In addition, the Subject operates from
branch office located at:
315 Main Street
Palmerston North 4410
New Zealand
Tel: +64 6 3573199
20 Te Puni Street
Petone, Lower Hutt 5012
New Zealand
Tel: +64 4 5682009
48 Hammersmith Drive
Wigram, Christchurch 8042
New Zealand
Tel: +64 3 3583428
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$ 180.548
billion
GPP (Purchasing
power parity) : 126.628
billion of International dollars
GDP per capita -
current prices : US$ 40,454
GDP - composition
by sector : agriculture:
4.7%
industry: 24%
services: 71.3%
Inflation : 2009:
2.1%
2010: 2.3%
2011: 4%
Unemployment rate
: 2009: 6.1%
2010: 6.5%
2011: 6.5%
Public debt
(General
Government gross debt as
a % GDP): 2009:
26.1%
2010: 32.3%
2011: 37%
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 : Westpac
Limited, Transpower, Fletcher Building Limited, National Bank of New Zealand,
Fonterra Co-Operative Group Ltd, Air New Zealand Limited, The Warehouse Group
Limited, Progressive Enterprises Ltd
Trade & Competitiveness Overview
Total exports : US$33.24
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$4,598 million
2009: US$-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 : 25
(ranking by country on a basis of 142, 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: 83%
Purchase Term
International :
Prepayment, D/P, Telegraphic transfer, Credit 30-120 days
Sales Term
Local :
Prepayment, D/P, Bank transfer, Credit 30-120 days
International :
Prepayment, D/P, Telegraphic transfer, Credit 30-120 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.55.78 |
|
|
1 |
Rs.88.04 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
-- |
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.