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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
PIPELINE
INDUSTRIES LIMITED |
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Registered Office : |
50 Patiki Road Avondale Auckland 1026 |
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Country : |
New Zealand |
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Date of Incorporation : |
04.02.1972 |
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Com. Reg. No.: |
83293 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, distribution and retail sales of couplings & fittings, hoses, clips & clamps, valves, air couplings, pump, strainers, nozzles. |
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No. of Employees : |
30 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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.
Source : CIA
Verified Address
Subject name : PIPELINE INDUSTRIES LIMITED
Business address :
48-50 Patiki Road
Town : Avondale
Province : Auckland
Zip/postal code : 1026
Country : New Zealand
Tel : +64 9 8284710
Fax : +64 9 8289165
Email : pipelinewam@xtra.co.nz
Website : www.hoseshop.co.nz
Registered address
: 50 Patiki Road
Town : Avondale
Province : Auckland
Zip/postal code : 1026
Country : New Zealand
Executive Summary
Date founded or
registered : 04/02/1972
Legal form : Private Limited
Company
Chief executive : Warwick Andrew McKenzie
Issued & paid
up capital : NZD 2,000
Line of business :
Import, distribution
and retail sales of couplings & fittings, hoses, clips & clamps,
valves, air couplings, pump, strainers, nozzles.
Staff employed : 30 employees
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 undetermined
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 04/02/1972
Legal form : Private Limited Company
Registration no 83293
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Warwick Andrew Mckenzie
Designation : Managing Director
Appointments
Name : Warwick Andrew McKenzie
Designation : Director and Company Secretary
Appointment date :
11/03/91
Address : 77 Pleasant Road
Glen Eden, Auckland 0602
New Zealand
Staff employed : 30 employees
Composition
Authorized Capital
: NZD 2,000
No of shares : 2,000 Shares
Share par value : NZD 1
Issued capital : NZD 2,000
Paid up capital : NZD 2,000
How listed : Full
List
Composition
Shareholder name :
Warwick Andrew McKenzie
Address : 77 Pleasant Road
Glen Eden, Auckland 0602
New Zealand
No. of shares : 1,900 Shares
Shareholder name :
Barbara Patricia McKenzie
Address : 77 Pleasant Road
Glen Eden, Auckland 0602
New Zealand
No. of shares : 100 Shares
Structure
Name : WAM NEW ZEALAND LIMITED
Affiliation type :
Sister Company
Address : 50 Patiki Road
Avondale, Auckland 1026
New Zealand
Bank Details
Name of bank : The National 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
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
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.
Main activities : The Subject engages in import,
distribution and retail sales of couplings &
fittings, hoses, clips & clamps, valves, air couplings, pump,
strainers,
nozzles.
The Subject supplies to various different industries including marine,
food &
beverage, mining, agricultural, petrol/chemical and industrial.
Purchases
International : Mainly from Europe, Asia
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of an administrative office and retail store.
Branches : In addition, the Subject operates from
retail stores located at:
285 East Tamaki Road
Otara, Auckland 2016
New Zealand
Tel: +64 9 2716433
418 West Street
Allenton, Ashburton 7700
New Zealand
Tel: +64 3 3081307
157 Hilton Highway
Washdyke, Timaru 7910
New Zealand
Tel: +64 3 6882823
696 Devon Road
Waiwhakaiho, New Plymouth 4312
New Zealand
Tel: +64 6 7591561
page 8 / 11
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 30-90 days
Sales Term
Local : Cash,
Credit card, Bank transfer, D/P, 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.52.82 |
|
|
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.68.61 |
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 |
|
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 |
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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.