MIRA INFORM REPORT

 

 

Report Date :

28.02.2012

 

IDENTIFICATION DETAILS

 

Name :

G S HALL & COMPANY LIMITED

 

 

Formerly Known As :

FOREST HILL BUTCHERS LIMITED

 

 

Registered Office :

8 Taylors Road Morningside Auckland 1025

 

 

Country :

New Zealand

 

 

Date of Incorporation :

04.12.1962

 

 

Com. Reg. No.:

64044

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import, blending and distribution of herbs, spices, dehydrated vegetables, seeds, oleoresins, oils, flavours, seasonings and blend products.

 

 

No. of Employees :

25 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 180,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

New Zealand

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION DETAILS

 

 

Verified Address

 

Subject name                                     :

 

G S HALL & COMPANY LIMITED

 

Business address                               :

 

8 Taylors Road

Town                                                  :

Morningside

Province                                             :

Auckland

Zip/postal code                                   :

1025

Country                                              :

New Zealand

Tel                                                     :

+64 9 8469027

Fax                                                    :

+64 9 8495599

Email                                                 :

finance@gshall.co.nz

Website                                             :

www.gshall.co.nz

 

Registered address                             :

 

C/o STAPLES RODWAY LTD

Level 9, Tower Centre 45 Queen Street

Town                                                  :

Auckland Central

Province                                             :

Auckland

Zip/postal code                                   :

1010

Country                                              :

New Zealand

Postal address                                   :

P.O. Box 536, Shortland Street

 

Town                                                  :

 

Auckland Central

Province                                             :

Auckland

Zip/postal code                                   :

1140

Country                                              :

New Zealand

 

 

SUMMARY DETAILS

 

Executive Summary

 

Date founded or registered          :   04/12/1962

 

Legal form                                 :   Private Limited Company

Chief executive                          :   Charles Simon Henry Hall

Issued & paid up capital             :   NZD 1,430,000

Line of business             :   Import, blending and distribution of herbs, spices, dehydrated vegetables, seeds, oleoresins, oils, flavours, seasonings and blend products.

Staff employed                                                                        :   25 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 undetermined

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                                      :   Not described.

 

 

STATUTORY DETAILS

 

 

Registry Data

 

Registration date                                :   04/12/1962

 

Legal form                                          :   Private Limited Company

 

Registration no                                       64044

 

Registered authority                            :   New Zealand Companies Office

 

Registry status                                   :   Live/Active

 

Previous name                                    :   G S HALL & CO LIMITED (until 24-12-2007)

FOREST HILL BUTCHERS LIMITED (until 14-02-1968)

 

 

Change of legal form                                                                              :   None reported.

 

 

MANAGEMENT / DIRECTORS

 

Key Management

 

Name                :           Charles Simon Henry Hall

Designation       :           Chief Executive Officer

 

Name                :           Paul Cheater

Designation       :           Sales Manager

 

Name                :           Scott Robertson

Designation       :           Financial Manager

 

Name                :           Brendan Kerr

Designation    :                       Procurement Manager

 

 

BORD OF DIRECTORS/ OTHER APPOINTMENTS

 

Appointments

 

Name                            :           Charles Simon Henry Hall

Designation                   :           Director

Appointment date           :           14/04/05

Address                        :           67B Lucerne Road

Remuera, Auckland 1050

New Zealand

 

Name                            :           Gerald Simon Hall

Designation                   :           Director

Appointment date           :           19/08/85

Address                        :           4 Pukeora Avenue

Remuera, Auckland 1050

New Zealand

 

Staff employed                                                :                       25 employees

 

 

SHARE CAPITAL

 

 

Composition

 

Authorized Capital                              :   NZD 1,430,000

 

No of shares                                       :   1,430,000 Shares

 

Share par value                                   :   NZD 1

 

Issued capital                                     :   NZD 1,430,000

 

Paid up capital                                                                                         :   NZD 1,430,000

 

 

OWNERSHIP / SHAREHOLDERS

 

How listed                     :   Full List

 

Composition

 

Shareholder name          :   Jointly held by Gerald Simon Hall & P. J. Dew

Address                        :   4 Pukeora Avenue

Remuera, Auckland 1050

New Zealand

No. of shares                 :   1,429,999 Shares

 

Shareholder name          :   Gerald Simon Hall

Address                        :   4 Pukeora Avenue

Remuera, Auckland 1050

New Zealand

 

No. of shares                          :   1 Share

 

 

RELATED COMPANIES & CORPORATE AFFILIATIONS

 

Structure

 

Related companies and corporate affiliations comments:   None reported.

 

 

BANK & MORTGAGES

 

Bank Details

 

Name of bank    :   Australia and New Zealand Banking Group 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.

 

 

FINANCIAL DATA

 

Description

 

Comments        :   The representative contacted Mr. Scott Robertson declined to disclose any financial information with regards to the Subject.

 

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

 

 

OPERATION DETAILS

 

Main activities                :   The Subject imports and distributes herbs, spices, dehydrated vegetables, seeds, oleoresins, oils, flavours, seasonings and blend products etc.

Product & services         :   herbs spices seeds

dehydrated vegetables micro controlled herbs oleoresins and oils flavours colours seasoning and blended products

 

Purchases

 

International       :   Worldwide

 

Sales

 

Local                :   Yes

 

International       :   Australia, Pacific Islands

 

Property & Assets

 

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

Branches        :   None reported.

 

 

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                                       :   L/C, Prepayment, Telegraphic transfer, Credit 30-90 days

 

 

Sales Term

 

Local                                                 :   Prepayment, Bank transfer, Credit 30-90 days

 

International                                       :   L/C, Telegraphic transfer, Credit 30-90 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.49.05

UK Pound

1

Rs.77.78

Euro

1

Rs.65.89

 

 

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.