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Report Date : |
11.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ALTECH COMPUTERS CORPORATION (NZ) PTY LTD |
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Registered Office : |
C/o STAPLES RODWAY Level 9, Tower Centre |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
26.02.2008 |
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Com. Reg. No.: |
2100381 |
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Legal Form : |
Registered Overseas Branch of Australian Proprietary Company |
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Line of Business : |
Distribution of Information Technology (IT) products and consumables. |
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No. of Employees : |
20 employees |
RATING & COMMENTS
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MIRAs 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 : |
-- |
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 |
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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 : ALTECH COMPUTERS CORPORATION (NZ)
PTY LTD
Business address :
Unit 3, 99 Carbine Road
Town : Mt. Wellington
Province : Auckland
Zip/postal code : 1060
Country : New Zealand
Tel : +64 9 5739300
Fax : +64 9 5739399
Website : www.altechcomputers.co.nz
Registered address
: C/o STAPLES RODWAY
Level 9, Tower Centre
45 Queen Street
Town : Auckland Central
Province : Auckland
Zip/postal code : 1010
Country : New Zealand
Executive Summary
Date founded or
registered : 26/02/2008
Legal form : Registered
Overseas Branch of Australian Proprietary Company
Chief executive : Johnson Soo Wei Koo
Issued & paid
up capital : NZD 1,200
Sales turnover : NZD 14,043,237 (Non-consolidated 12
months, 30/06/2010)
Net income : NZD 53,650
(Non-consolidated 12 months, 30/06/2010)
Total fixed assets
: NZD 4,075,654
(Non-consolidated 12 months, 30/06/2010)
Line of business :
Distribution of
Information Technology (IT) products and consumables.
Staff employed : 20 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
declining
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is poor
Organization
structure : Organisational
structure is acceptable
Detrimental : Some detrimental records found
Payment history : No payment delays noted
Credit amount
suggestion : Fully secured terms.
Comments : It is
strictly advisable to conduct business dealing on prepayment or L/C basis due
to the Subject's share equity deficit. Credit can be granted with guarantee by
ALTECH COMPUTERS CORPORATION PTY LTD, which is the main operating company in
Australia.
Registry Data
Registration date
: 26/02/2008
Legal form : Registered Overseas Branch of
Australian Proprietary Company
Registration no 2100381
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Other registration
: The Subject is a Registered
Overseas Branch of Australian Proprietary Company.
The Australian Proprietary Company was registered with the Australian
Securities
and Investments Commission on 07/02/2008 under Australian Company
Number:
129595526 and Australian Business Number: 36129595526.
Key Management
Name : Johnson Soo Wei Koo
Designation : Manager
Appointments
Name : Antony
Sheen
Designation : Director
Appointment date :
26/02/08
Address : 1 Marine Drive
Chiswick, NSW 2046
Australia
Biography : Born on 16-07-1963 in Samara,
Russian Federation.
Staff employed : 20 employees
Key Advisors
Auditors : ERNST & YOUNG
680 George Street
Sydney, NSW 2000
Australia
Solicitors : LUCAS & MABIN
Barristers & Solicitors
Top Level, 109 Great South Road
Greenlane, Auckland 1051
New Zealand
Composition
Authorized Capital
: NZD 1,200
No of shares : 1,200 Ordinary Shares
Share par value : NZD 1
Issued capital : NZD 1,200
Paid up capital : NZD 1,200
How listed : Full
List
Composition
Shareholder name :
Antony Sheen
Address : 1 Marine Drive
Chiswick, NSW 2046
Australia
No. of shares : 600 Ordinary Shares
% of shares : 50%
Shareholder name :
Andrei Lessovoi
Address : 2 Goodwin Street
Kangaroo Point, QLD 4169
Australia
No. of shares : 600 Ordinary Shares
% of shares : 50%
Structure
Name : ALTECH COMPUTERS
CORPORATION PTY LTD
Affiliation type :
Associate
Address : Unit 1, Building C
350-374 Parramatta Road
Homebush, NSW 2140
Australia
Name : ALTECH COMPUTERS (HONG
KONG) LIMITED
Affiliation type :
Associate
Address : Room G, 7/F, Block 1
Kwai Tak Industrial Centre
15-33 Kwai Tak Street
Kwai Chung
Hong Kong
Name : ALTECH COMPUTERS (WA)
PTY LTD
Affiliation type :
Associate
Address : Unit 2, 8 Carbon Ct
Osborne Park, WA 6017
Australia
Name : ALTECH COMPUTERS PTY
LTD
Affiliation type :
Associate
Address : Unit 1, Building C
350-374 Parramatta Road
Homebush, NSW 2140
Australia
Bank Details
Name of bank : National Australia Bank
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 : Commercial
Registry Filings
Financial
statement date : 30/06/10
Type of accounts :
Full
audited
Currency : New Zealand,
Dollar (NZD)
Exchange rate : 1 USD = NZD
1.30 as of 08-06-2012
Summarized Financial Information
Consolidation type
: Non Consolidated Non Consolidated
Currency : New Zealand,
Dollar(NZD) New Zealand,
Dollar(NZD)
Denomination : (x1) One (x1) One
Date of financial
year end : 30/06/10 30/06/09
Length of accounts
: 12 months 12 months
Sale turnover /
Income : 14,043,237 6,770,022
Gross profit : 1,397,798 567,805
Profit before tax
: 53,650 -417,853
Net income : 53,650 -417,853
Non current assets
: 100,108 116,114
Current assets : 3,975,546 2,628,640
Inventories : 2,359,412 1,546,647
Total assets : 4,075,654 2,744,754
Current
liabilities : 4,621,898
3,344,648
Total liabilities
: 4,621,898
3,344,648
Share equity : -546,244 -599,894
Retained earning :
-547,444 -601,094
Main activities : The Subject is engaged in
distribution of Information Technology (IT)
products and consumables.
Product & services
: Computer and computer peripherals
Home theatre system
Digital Cameras
Computer software
Printers
Brand : Microsoft
Maestro, NRG and ICU (The Subject's own brands)
Intel
AMD
Lexmark
Logitech
NVIDIA
Samsung
Sony
KYOCERA
Hitachi
GENIUS
Purchases
International : Mainly Taiwan, China, Japan,
South Korea, United States, Singapore
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises : The
Subject operates from premises located at the verified heading
address consisting
an administrative office and warehouse.
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$ 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:
4.7%
industry: 24%
services: 71.3%
Inflation : 2009: 2.1%
2010: 2.3%
2011: 4.1%
Unemployment rate
: 2009: 6.2%
2010: 6.5%
2011: 6.7%
Public debt
(General
Government gross debt as
a % GDP): 2009:
26.1%
2010: 26.1%
2011: 35.8%
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$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%
PAYMENT HISTORY
Purchase Term
International :
L/C, Prepayment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local :
Prepayment, Bank 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.55.36 |
|
|
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 SCs 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.