MIRA
INFORM REPORT
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Report Date : |
14.01.2012 |
IDENTIFICATION DETAILS
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Name : |
PSP LIMITED |
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Registered Office : |
320 Rosedale Road, Albany, Auckland , Zip/postal code 0632 |
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Country : |
New Zealand |
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Date of Incorporation : |
15.11.1996 |
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Com. Reg. No.: |
835414 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and distributor
of plastic sheets, architectural and building products, Decorative
products etc |
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No. of Employees : |
52 |
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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Maximum Credit Limit : |
USD 300,000 |
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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 – September 30, 2011
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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 |
IDENTIFICATION DETAILS
Verified Address
Subject name : PSP
LIMITED
Business address :
320 Rosedale Road
Town : Albany
Province : Auckland
Zip/postal
code : 0632
Country : New Zealand
Tel : +64 9 4152800
Fax : +64 9 4152809
Email : customerservices@psp.co.nz
Website :
www.psp.co.nz
Registered address : 320
Rosedale Road
Town : Albany
Province : Auckland
Zip/postal code : 0632
Country : New Zealand
Postal address
: PO Box 101 851
Town : North Shore Mail Centre
Province : Auckland
Zip/postal code : 0745
Country : New
Zealand
SUMMARY DETAILS
Executive Summary
Date founded or registered : 15/11/1996
Legal form : Private Limited Company
Chief executive : Dean Raymond Hodgson
Issued & paid up capital : NZD 10,000
Sales turnover : NZD 27,000,000 (Estimated
non-consolidated 12 months, 31/03/2011)
Line of business : Import and distributor of plastic
sheets, architectural and building products,
Decorative products etc
Staff employed : 52 employees
CREDIT RISK OPINION
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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 300,000
Credit amount asked : USD 300,000
STATUTORY DETAILS
Registry Data
Registration date : 15/11/1996
Legal form : Private Limited Company
Registration no : 835414
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Dean Raymond Hodgson
Designation : Managing Director
Name : Graham William Gibbs
Designation : Joint Managing Director
Name : Christopher Roy Booth
Designation : Director
Name : Roydon Andrew Dew
Designation : Director
BOARD OF DIRECTORS/ OTHER
APPOINTMENTS
Appointments
Name :
Christopher Roy Booth
Designation : Director
Appointment date : 01/08/07
Address :
329A Beach Road, Campbells Bay, Auckland 0630, New Zealand
Name :
Roydon Andrew Dew
Designation :
Director
Appointment date :
01/08/07
Address :
4 Helmsdale Court, Huntington, Hamilton 3210, New Zealand
Name :
Graham William Gibbs
Designation :
Director
Appointment date :
15/11/96
Address :
10 Audrey Road, Takapuna, Auckland 0620, New Zealand
Name :
Dean Raymond Hodgson
Designation :
Director
Appointment date :
01/08/07
Address :
18 Pimento Place
New Lynn, Auckland 0600
New Zealand
Staff employed : 52 employees
Share capital
Composition
Authorized Capital : NZD 10,000
No of shares : 10,000 Ordinary Shares
Share par value : NZD 1
Issued capital : NZD 10,000
Paid up capital : NZD 10,000
How listed : Full List
Ownership / shareholders
Composition
Shareholder name Jointly
held by Graham William Gibbs & Dean Raymond Hodgson
Address Graham
William Gibbs
10 Audrey Road
Takapuna, Auckland 0620
New Zealand
Dean Raymond Hodgson
18 Pimento Place
New Lynn, Auckland 0600
New Zealand
No. of shares : 10,000 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : PSP STONECRAFT LIMITED Affiliation type : Associate
Address : 28 Poland Road
Wairau Valley, Auckland 0627
New Zealand
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
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 1.28 as of 09-01-2012
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 : 27,000,000
Comments : The estimated turnover was provided by
Mr. Dean Raymond Hodgson.
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.
Operations details
Main activities : The Subject is engaged in import and
distributor of plastic sheets, architectural and building products, decorative products etc.
Product & services : Plastic Sheets: Acrylic, Polycarbonate,
PVC, ACM, Digital & Industrial Plastics
Architectural and building products: Roofing
Systems, Corrugated
Sheeting, Cladding & Fencing Systems
Decorative products
Purchases
International : Germany, Australia, Israel, India,
Taiwan, South Korea, China, Japan, Vietnam, United States
Sales
Local : Yes
International : No exports
Property & Assets
Premises : The Subject operates from head office
located at the verified heading address consisting of
administrative
office, showroom and warehouse.
Branches : In addition, the Subject operates from
branch offices and showroom located at:
13 Tawn Place
Pukete, Hamilton 3200
New Zealand
Tel: +64 7 8506280
72 Hammersmith Drive
Wigram, Christchurch 8042
New Zealand
Tel: +64 3 3410248
5a Riddlers Crescent
Petone, Wellington 5012
New Zealand
Tel: +64 4 5687180
Summarized country risk
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$ $34,701
GDP - composition by sector agriculture: 4.6% industry: 23.7% services: 71.7%
Inflation 2008: 4%
2009: 2.1%
2010: 2.5%
Unemployment
rate 2008:4.2%
2009: 6.2%
2010: 6.2%
Public debt
(General Government gross
debt as a % GDP) 2008: 20.4 %
2009: 26.1%
2010: 31.6 %
Government bond
ratings Standard
& Poor's: AA+/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 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$31.11 billion
Imports commodities machinery and equipment, vehicles and aircraft, petroleum,
electronics, textiles, plastics
Export - major partners Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%
Import - major partners Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%,
Germany 4.7%
FDI Inflows 2007: US$ 4,598 million
2008: US$ -1,293 million
2009: US$ 561million
FDI Outflows 2007: US$ 462 million
2008: US$ -308 million
2009: 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
:
83 %
Payment history
Purchase Term
International : L/C, Prepayment, Credit 30-60 days
Sales Term
Local : Prepayment, Bank transfer, D/P, Credit
30-60 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.51.43 |
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UK Pound |
1 |
Rs.79.10 |
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Euro |
1 |
Rs.66.17 |
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.