MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
FUHRMANN NZ 1983 LIMITED |
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Registered Office : |
Unit 8, 75 Peterborough Street, Christchurch Central, Christchurch, postal code 8013 |
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Country : |
New Zealand |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.09.1938 |
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Com. Reg. No.: |
207447 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wool Brokers |
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No. of Employees : |
10 employees |
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 400,000 |
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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 30th, 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 |
Verified Address
Subject name : FUHRMANN NZ 1983 LIMITED
Business address : Unit 8, 75 Peterborough Street
Town : Christchurch Central
Province : Christchurch
Zip/postal code : 8013
Country : New Zealand
Tel : +64 3 3796173
Fax : +64 3 3650747
Email : fuhrmann@xtra.co.nz
Website : www.gschneider.com
Registered address : Unit 8, 75 Peterborough Street
Town : Christchurch Central
Province : Christchurch
Zip/postal code : 8013
Country : New Zealand
Postal address : P O Box 1164
Town : Christchurch Central
Province : Christchurch
Zip/postal code : 8140
Country : New Zealand
Executive Summary
Date founded or registered : 22/09/1938
Legal form : Private Limited
Company
Chief executive : Peter Jens Christensen
Issued & paid up capital
: NZD 1,993,901
Sales turnover : NZD 56,515,460 (Non-consolidated 12
months, 31/12/2010)
Net income : NZD 487,666
(Non-consolidated 12 months, 31/12/2010)
Total fixed assets : NZD 25,876,069
(Non-consolidated 12 months, 31/12/2010)
Line of business : Wool brokers.
Staff employed : 10 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management experience : Management is reasonably experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is
consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 400,000
Credit amount asked : Not described.
Registry Data
Date founded : 22/09/1938
Registration date : 24/08/1983
Legal form : Private Limited
Company
Registration no 207447
Registered authority : New Zealand Companies Office
Fiscal/ Tax no : 044-936-461
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Peter Jens Christensen
Designation : Chief Executive Officer
Name : John Moore Henderson
Designation : Director
Name : Stephen Francis Finnie
Designation : Director
Appointments
Name : Donald Richard Belgre
Designation : Director
Appointment date : 26/06/06
Address : 3/40 Benelong Road
Cremorne, NSW
2090
Australia
Name : Peter Jens Christensen
Designation : Director
Appointment date : 30/11/92
Address : 25 Godley Drive
Sumner,
Christchurch 8081
New
Zealand
Name : Stephen Francis Finnie
Designation : Director
Appointment date : 16/04/01
Address : 108 Malcolm Avenue
Beckenham, Christchurch 8023
New Zealand
Name : John Moore Henderson
Designation : Director
Appointment date : 18/03/92
Address : 629 Main North Road
Belfast,
Christchurch 8051
New
Zealand
Name : Claudio Lacchio
Designation : Director
Appointment date : 26/06/06
Address : Via Castellazzo 19/A
13898
Occhieppo Superiore , Biella
Italy
Staff employed : 10 employees
Key Advisors
Auditors : DELOITTE
50
Hazeldean Road
Christchurch
8011
New Zealand
Composition
Authorized Capital : NZD 1,993,901
No of shares : 1,993,901 Ordinary Shares
Share par value : NZD 1
Issued capital : NZD 1,993,901
Paid up capital : NZD
1,993,901
How listed : Full List
Composition
Shareholder name : E R FOSTER NZ LIMITED
Address : Unit 8, 75 Peterborough
Street
Christchurch
Central, Christchurch 8013
New
Zealand
No. of shares : 1,628,132 Ordinary Shares
Shareholder name : Peter Jens Christensen
Address : 25 Godley Drive
Sumner,
Christchurch 8081
New
Zealand
No. of shares : 164,486 Ordinary Shares
Shareholder name : John Moore Henderson
Address : 629 Main North Road
Belfast,
Christchurch 8051
New
Zealand
No. of shares : 149,638 Ordinary Shares
Shareholder name : Stephen Francis Finnie
Address : 108 Malcolm Avenue
Beckenham,
Christchurch 8023
New
Zealand
No. of shares : 51,645
Ordinary Shares
Structure
Name : G.SCHNEIDER S.A.
Affiliation type : Ultimate
Holding Company
Address : 12, Rue Guillaume Schneider
L - 2522 Luxembourg
Luxembourg
Name : FUHRMANN
1735 N.V.
Affiliation type : Intermediate Holding
Company
Address : Koningslaan 17
1075AA Amsterdam
Netherlands
Name : E
R FOSTER NZ LIMITED
Affiliation type : Parent Company
Address : Unit 8, 75 Peterborough Street
Christchurch Central,
Christchurch 8013
New Zealand
Name : WAIHI
WOOLS (1981) LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Unit 8, 75 Peterborough Street
Christchurch Central,
Christchurch 8013
New Zealand
Name : FUHRMANN
S.A.
Affiliation type : Associate
Address : Ruta
25 Chacra 73 Lote 4 A
C.P. 9100 -Rawson,
Chubut
Argentina
Name : SCHNEIDER
AUSTRALIA PTY LTD
Affiliation type : Associate
Address : Suite 8, 130 Pacific Highway
St.Leonard, NSW 2065
Australia
Bank Details
Name of bank : Bank of New Zealand
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 : 31/12/10
Type of accounts : Full audited
Currency : New
Zealand, Dollar (NZD)
Exchange rate : 1 USD = NZD
1.23 as of 14-03-2012
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 : 31/12/10 31/12/09
Length of accounts : 12 months 12 months
Sale turnover / Income : 56,515,460 49,858,275
Gross profit : 1,286,203
2,175,643
Profit before tax : 809,696 966,034
Net income : 487,666
672,155
Non current assets : 904,430 906,572
Current assets : 24,971,639 19,990,733
Inventories : 15,355,808 11,586,110
Total assets : 25,876,069
20,897,305
Current liabilities : 21,654,768 17,169,266
Non current liabilities : 55,829 50,233
Total liabilities : 21,710,597 17,219,499
Share equity : 4,165,472 3,677,806
Retained earning : 1,859,403 1,371,737
Main activities : The Subject is engaged as wool
brokers.
Purchases
Local : Yes
International : Australia
Sales
International : China, India, Hong Kong, United
States
Property &
Assets
Premises : The Subject operates from
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%
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, 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$31.11 billion
Imports commodities machinery and equipment, vehicles and aircraft, petroleum,
electronics, textiles, plastics
Export - major partners Australia 22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%
Import - major partners Australia 20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%,
Germany 4.7%
FDI Inflows 2008: US$ 3,441 million
2009: US$ 4,993 million
2010: 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 Dollar (NZD)
Internet
users as % of total population
:
84.38 %
Purchase Term
Local : Prepayment, Bank
transfer, Credit up to 90 days
Sales Term
International : L/C, Document against payment,
Credit up to 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.31 |
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UK Pound |
1 |
Rs.79.04 |
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Euro |
1 |
Rs.65.82 |
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.