MIRA INFORM REPORT
|
Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
FOX INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
51 Yule Street, Kilbirnie, |
|
|
|
|
Country : |
New Zealand |
|
|
|
|
Date of Incorporation : |
16.06.2004 |
|
|
|
|
Com. Reg. No.: |
1526391 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Import and sales of food products such as rice, spice, oil, lentils etc. |
|
|
|
|
No. of Employees : |
01 employee |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment
Behaviour : |
No Complaints |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
New Zealand |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
New Zealand - ECONOMIC OVERVIEW
Over the past 20 years the government has transformed New Zealand from an agrarian economy dependent on concessionary British market access to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes - but left behind some at the bottom of the ladder - and broadened and deepened the technological capabilities of the industrial sector. Per capita income rose for ten consecutive years until 2007 in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer spending drove robust growth in the first half of the decade, helping fuel a large balance of payments deficit that posed a challenge for economic managers. Inflationary pressures caused the central bank to raise its key rate steadily from January 2004 until it was among the highest in the OECD in 2007-08; international capital inflows attracted to the high rates further strengthened the currency and housing market, however, aggravating the current account deficit. The economy fell into recession before the start of the global financial crisis and contracted for five consecutive quarters in 2008-09. In line with global peers, the central bank cut interest rates aggressively and the government developed fiscal stimulus measures. The economy posted a 2% decline in 2009, but pulled out of recession late in the year, and achieved 1.7% growth in 2010 and 2% in 2011. Nevertheless, key trade sectors remain vulnerable to weak external demand. The government plans to raise productivity growth and develop infrastructure, while reining in government spending.
Source cIA
Verified Address
Subject name : FOX INTERNATIONAL LIMITED
Business address : 51 Yule Street
Town : Kilbirnie
Province : Wellington
Zip/postal code : 6022
Country : New Zealand
Tel : +64 4 3872016
Email : swasoori@hotmail.com
Registered address : 51 Yule Street
Town : Kilbirnie
Province : Wellington
Zip/postal code : 6022
Country : New Zealand
Comments : The Subject does not operate
from a physical office in Australia and all
correspondence is conducted through the Subject’s director
residential
premises
verified above.
Executive Summary
Date founded or registered : 16/06/2004
Legal form : Private Limited
Company
Chief executive Sudesh Chander Wasoori
Issued & paid up capital
: NZD 100
Sales turnover : NZD 3,000,000 (Estimated
Non-consolidated 12 months, 31/03/2012)
Line of business : Import and sales of food
products such as rice, spice, oil, lentils etc.
Staff employed : Mr. Sudesh Chander Wasoori
is the only director and employee of the Subject
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 16/06/2004
Legal form : Private Limited Company
Registration no 1526391
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Sudesh Chander Wasoori
Designation : Managing Director
Appointments
Name : Sudesh Chander Wasoori
Designation : Director
Appointment date : 16/06/04
Address : 51 Yule Street
Kilbirnie,
Wellington 6022
New
Zealand
Staff employed : Mr. Sudesh Chander Wasoori is the
only director and employee of the Subject
Composition
Authorized Capital : NZD 100
No of shares : 100 Shares
Share par value : NZD 1
Issued capital : NZD 100
Paid up capital : NZD
100
How listed : Full List
Composition
Shareholder name : Sudesh Chander Wasoori
Address : 51 Yule Street
Kilbirnie,
Wellington 6022
New
Zealand
No. of shares : 100 Shares
% of shares : 100%
Structure
Name : NEEDS TRADING LIMITED
Affiliation type : Associate
Address : 51 Yule Street
Kilbirnie,
Wellington 6022
New
Zealand
Name : SAFFRON HERB LIMITED
Affiliation type : Associate
Address : 51 Yule Street
Kilbirnie,
Wellington 6022
New
Zealand
Bank Details
Name of bank : ANZ Bank New Zealand 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
: Provided by the Subject
Financial statement date : 31/03/12
Type of accounts : Estimated key figures
Currency : New Zealand,
Dollar (NZD)
Exchange rate : 1 USD = NZD 1.21 as of
06-12-2012
Summarized
Financial Information
Consolidation type : Non Consolidated
Currency : New Zealand,
Dollar (NZD)
Denomination : (x1) One
Date of financial year end : 31/03/12
Length of accounts : 12 months
Sale turnover / Income : 3,000,000
Comments : The estimated turnover was
provided by Mr. Sudesh Chander Wasoori.
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.
Main activities : The Subject is engaged in import
and sales of food products such as rice,
spice,
oil, lentils etc.
Purchases
International : India, Europe
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from
residential premises located at the verified
heading
address consisting of an administrative office.
Branches : None reported.
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, Telegraphic
transfer, Credit 30-60 days
Sales Term
Local : Prepayment, Cash, Bank transfer, 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.54.20 |
|
UK Pound |
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.