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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
BINTEC DISTRIBUTORS LIMITED |
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Registered Office : |
Level 1, |
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Country : |
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Date of Incorporation : |
13.03.2006 |
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Com. Reg. No.: |
1778038 |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Import and distribution of personal protective equipment/products and van racking systems. In addition, the Subject manufactures plastic storage systems. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
NEW ZEALAND - ECONOMIC OVERVIEW
Over the past 20 years the government has transformed New Zealand from an agrarian economy dependent on concessionary British market access to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes - but left behind some at the bottom of the ladder - and broadened and deepened the technological capabilities of the industrial sector. Per capita income rose for ten consecutive years until 2007 in purchasing power parity terms, but fell in 2008-09. Debt-driven consumer spending drove robust growth in the first half of the decade, helping fuel a large balance of payments deficit that posed a challenge for economic managers. Inflationary pressures caused the central bank to raise its key rate steadily from January 2004 until it was among the highest in the OECD in 2007-08; international capital inflows attracted to the high rates further strengthened the currency and housing market, however, aggravating the current account deficit. The economy fell into recession before the start of the global financial crisis and contracted for five consecutive quarters in 2008-09. In line with global peers, the central bank cut interest rates aggressively and the government developed fiscal stimulus measures. The economy posted a 2% decline in 2009, but pulled out of recession late in the year, and achieved 1.7% growth in 2010 and 2% in 2011. Nevertheless, key trade sectors remain vulnerable to weak external demand. The government plans to raise productivity growth and develop infrastructure, while reining in government spending.
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Source
: CIA |
Verified
Address
Subject name : BINTEC
DISTRIBUTORS LIMITED
Business address : 39-45
Shelley Street
Town : Roslyn
Province : Palmerston
North
Zip/postal code : 4414
Country : New
Zealand
Tel : +64
6 3562015
Fax : +64
6 3562018
Email : admin@bintec.co.nz
Website : www.bintec.co.nz
Registered address : Level
1, 103 Carlton Gore Road
Town : Newmarket
Province : Auckland
Zip/postal code : 1023
Country : New
Zealand
Postal address : P.O.
Box 4195
Town : Manawatu
Province : Palmerston
North
Zip/postal code : 4414
Country : New
Zealand
Executive
Summary
Date founded or registered : 13/03/2006
Legal form : Limited
Private Company
Chief executive : Braedon
Mark Filleul
Issued & paid up capital : NZD 99
Line
of business : Import
and distribution of personal protective equipment/products and van racking systems.
In addition, the Subject manufactures plastic storage systems.
Staff employed : 15
employees
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 found
Payment history : No
payment delays noted
Registry
Data
Registration date : 13/03/2006
Legal form : Limited
Private Company
Registration no 1778038
Registered authority : New
Zealand Companies Office
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key
Management
Name : Braedon
Mark Filleul
Designation :
Managing Director
Name : Maurice
Filleul
Designation
: Joint Managing Director
Appointments
Name : Braedon
Mark Filleul
Designation : Director
Appointment date : 13/03/06
Address : 47A
McIntyre Road
Mangere
Bridge, Manukau 2022
New
Zealand
Name : Maurice
Filleul
Designation : Director
Appointment date : 13/03/06
Address : 11
Acorn Street
Royal
Oak, Auckland 1023
New
Zealand
Staff employed : 15
employees
Composition
Authorized Capital : NZD
99
No of shares : 99
Shares
Share par value : ZD
1
Issued capital : NZD
99
Paid up capital : NZD
99
How listed : Full
List
Composition
Shareholder name : Braedon
Mark Filleul
Address : 47A
McIntyre Road
Mangere
Bridge, Manukau 2022
New
Zealand
No. of shares : 33
Shares
Shareholder name : Maurice
Filleul
Address : 11
Acorn Street
Royal
Oak, Auckland 1023
New
Zealand
No. of shares : 33
Shares
Shareholder name : Hillary
Filleul
Address : 11
Acorn Street
Royal
Oak, Auckland 1023
New
Zealand
No. of
shares : 33 Shares
Structure
Name : SAFE-T-TEC
LIMITED
Affiliation type : Associate
Address : 39-45
Shelley Street
Roslyn,
Palmerston North 4414
New
Zealand
Bank
Details
Name of bank : ANZ
Bank 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
Comments : 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
- 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.
Main activities : The Subject is engaged in import and
distribution of personal protective
equipment/products and van racking systems.
In addition, the Subject manufactures plastic storage
systems.
Product & services : Plastic Bins
Van Racking System
Headwear: Hard hats, Forestry Sets, Visor Assemblies
Welding products: Welding Helmets, Auto Darkening Helmets,
Welding
Protection Gear
Eye/Face Protection: Safety Glasses - Value Range, Safety
Glasses - X
Generation Range, Face Shields and Visors, Eye Wash
Solutions
Clothing/Workwear products
Footwear products
Hand Protection products: Synthetic and Coated Gloves, Cut
Resistant
Gloves, Leather and General Purpose Gloves, Chemical
Resistant Gloves,
Mechanical Gloves, Welders Gloves
Breathing & Respiratory Protection: Disposable half face
masks, Half face
masks
Hearing Protection products: Ear plugs, Ear Muffs, Ear plug
Dispensers
Safety showers and eyewashes
First Aid kits
Body protection
Brand : Bintec (Plastic storage bins)
Taeki5 (Cut Resistant Glove Technology)
Medi-Tec (First Aid Protection)
Radians (Hearing Protection)
Rockman (German Made Hearing Protectors)
Safe-T-Tec (Professional Safety Equipment)
SAS (Respiratory Protection)
Aboutblu (Safety Footwear)
Shosholoza - (Gumboot Protection)
Purchases
International : Europe, Asia
Sales
Local : Yes
International : Australia
Property
& Assets
Premises : The Subject operates from premises located at the
verified heading
address consisting of a production facilities, warehouse and
administrative office.
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$ 180.548 billion
GPP (Purchasing power parity) : 126.628 billion of International dollars
GDP per capita - current prices : US$ 40,454
GDP - composition by sector : agriculture: 4.7%
industry:
24%
services:
71.3%
Inflation : 2009:
2.1%
2010:
2.3%
2011:
4%
Unemployment rate : 2009:
6.1%
2010:
6.5%
2011:
6.5%
Public debt
(General Government gross debt as
a % GDP)
:
2009: 26.1%
2010:
32.3%
2011:
37%
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 : Westpac Limited, Transpower, Fletcher Building Limited,
National Bank of New Zealand, Fonterra Co-Operative Group Ltd, Air New Zealand
Limited,
The Warehouse Group Limited, Progressive Enterprises Ltd
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%
Purchase
Term
International : Prepayment, Telegraphic transfer, D/P,
Credit 30-60 days
Sales
Term
Local : Prepayment, Bank transfer, D/P, Credit 30-60 days
International : Prepayment, Telegraphic 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
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|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 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.