x
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Report Date : |
16.02.2012 |
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Tel. No.: |
3-9600892 |
IDENTIFICATION DETAILS
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Name : |
ARIES INTERNATIONAL LIMITED |
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Registered Office : |
35 Charles Upham Avenue, Hillmorton, Christchurch, 8025 |
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Country : |
New Zealand |
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Date of Incorporation : |
13.02.2003 |
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Com. Reg. No.: |
1274602 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and distribution engineering machinery |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Poor |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : ARIES INTERNATIONAL LIMITED
Business address : 35 Charles Upham Avenue
Town : Hillmorton
Province : Christchurch
Zip/postal code : 8025
Country : New Zealand
Tel : +64 3 9600892
Fax : +64 3 9600895
Email : chun18nz@yahoo.co.nz
Registered address : 35 Charles Upham Avenue
Town : Hillmorton
Province : Christchurch
Zip/postal code : 8025
Country : New Zealand
Comments : The Subject does not operate from a physical office in New Zealand and all correspondence is conducted through the Subject's director residential premises.
Executive Summary
Date founded or registered : 13/02/2003
Legal form : Private Limited Company
Chief executive : Chun Xiang
Issued & paid up capital : NZD 21,000
Sales turnover : NZD 100,000 (Estimated non-consolidated 12 months, 31/03/2011)
Line of business : Import and distribution engineering machinery.
Staff employed : Ms. Chun Xiang is the only director and employee
Country risk : Country risk is minimal
Operation trend : Operational trend is declining
Management experience : Management is inadequately experienced
Financial performance : Financial performance is poor
Organization structure : Organizational structure is acceptable
Detrimental : No detrimental records found
Payment history : Unknown
Credit amount suggestion : Fully secured terms.
Credit amount asked : Not described.
Comments : It is strictly advisable to conduct business dealing on prepayment or L/C due to the fact that the Subject operates on a small scale.
Registry Data
Registration date : 13/02/2003
Legal form : Private Limited Company
Registration no 1274602
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Chun Xiang
Designation : Director
Appointments
Name : Chun Xiang
Designation : Director
Appointment date : 13/02/03
Address : 35 Charles Upham Avenue
Hillmorton, Christchurch 8025
New Zealand
Staff employed : Ms. Chun Xiang is the only director and employee
Composition
Authorized Capital : NZD 21,000
No of shares : 21,000 Shares
Share par value : NZD 1
Issued capital : NZD 21,000
Paid up capital : NZD 21,000
How listed : Full List
Composition
Shareholder name : Chun Xiang
Address : 35 Charles Upham Avenue
Hillmorton, Christchurch 8025
New Zealand
No. of shares : 21,000 Shares
% of shares : 100%
Structure
Name : ENGINEERING CAD SERVICES LIMITED
Affiliation type : Sister Company
Address : 35 Charles Upham Avenue
Hillmorton, Christchurch 8025
New Zealand
Bank Details
Name of bank : The National Bank of New Zealand Ltd
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 : 31/03/11
Type of accounts : Estimated key figures Currency
: New Zealand, Dollar (NZD)
Exchange rate : 1 USD = NZD 1.20 as of 13-02-2012
Summarized Financial Information
Consolidation type : Non Consolidated
Currency : New Zealand, Dollar
(NZD) Denomination : (x1) One
Date of financial year end : 31/03/11
Length of accounts : 12 months
Sale turnover / Income : 100,000
Comments : The estimated financial figure was provided by Ms. Chun Xiang however she declined to provide any comparative figures.
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 distribution engineering machinery.
Purchases
International : Taiwan, China, Turkey, United Kingdom
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from residential premises located at the verified heading address consisting of administrative office.
Branches : None reported.
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$ $32,145
GDP - composition by sector : agriculture: 4.6%
industry: 23.7%
services: 71.7%
Inflation : 2008: 4%
2009: 2.1%
2010: 2.5%
Unemployment rate: 2008: 4.2%
2009: 6.2%
Public debt
(General Government gross debt as a % GDP)
: 2008: 20.4%
2009: 26.2%
Government bond ratings : Standard & Poor's: AA+/Stable/A-1+
Moody's rating: Aaa
Market value of publicly traded shares : US$ 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%
Purchase Term
International : Credit 60 days
Sales Term
Local : 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
Investigation Note
Sources : Interviews and material provided by the Subject
: Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
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|
1 |
Rs.77.45 |
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Euro |
1 |
Rs.64.89 |
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 |
-- |
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.