MIRA INFORM REPORT
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Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
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Name : |
GROUNDWORKS GROUP LIMITED |
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Formerly Known As : |
PAUSELLI INTERNATIONAL LIMITED |
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Registered Office : |
19 Edith Street, Fairfield,
Dunedin, Zip/postal code 9018 |
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Country : |
New Zealand |
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Date of Incorporation : |
19.07.2010 |
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Com. Reg. No.: |
3032801 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Sales and rental of civil construction machinery, portable drilling rigs, air compressors etc. |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s 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 : |
Moderate |
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Payment
Behaviour : |
Slow |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : GROUNDWORKS GROUP LIMITED
Business address : 19 Edith Street
Town : Fairfield
Province : Dunedin
Zip/postal code : 9018
Country : New Zealand
Tel : +64 274 327716
Email : info@groundworkgroupltd.com
Website : www.groundworkgroupltd.com
Registered address : 19 Edith Street
Town : Fairfield
Province : Dunedin
Zip/postal code 9018
Country : New Zealand
Comments : The Subject does not operate from a physical office and all correspondence is
conducted through the Subject’s director residential premises verified above.
Executive Summary
Date founded or registered : 19/07/2010
Legal form : Private Limited
Company
Chief executive : Stephen James Beeby
Issued & paid up capital
: NZD 100
Line of business : Sales and rental of civil
construction machinery, portable drilling rigs, air
compressors etc.
Staff employed : 3
employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is in
start-up phase
Management experience : Management is modestly experienced
Financial performance : Financial performance is
undetermined
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 19/07/2010
Legal form : Private Limited Company
Registration no 3032801
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : PAUSELLI INTERNATIONAL LIMITED
(until 28-02-2012)
TURCHI
INTERNATIONAL LIMITED (until 28-02-2012)
TURCHI
GUARDRAIL INTERNATIONAL LIMITED (until 29-11-2011)
CONSTRUCTION
SAFETY TRAINING LIMITED (until 16-05-2011)
Change of legal form : None reported.
Key Management
Name : Stephen James Beeby
Designation : Managing
Director
Appointments
Name : Stephen James Beeby
Designation : Director
Appointment date : 19/07/10
Address : 19 Edith Street
Fairfield,
Dunedin 9018
New
Zealand
Staff employed : 3 employees
Composition
Authorized Capital : NZD 100
No of shares : 100 Shares
Share par value : NZD 1
Issued capital : NZD 100
Paid up capital : NZD
100
How listed : Full List
Composition
Shareholder name : Stephen James Beeby
Address : 19 Edith Street
Fairfield,
Dunedin 9018
New
Zealand
No. of shares : 100 Ordinary Shares
% of shares : 100%
Structure
Name : GUARD RAIL INSTALLATIONS LIMITED
Affiliation type : Sister Company
Address : 19 Edith Street
Fairfield,
Dunedin 9018
New
Zealand
Name : CITY DIESEL SUPPLIES LIMITED
Affiliation type : Sister
Company
Address : 19 Edith Street
Fairfield,
Dunedin 9018
New
Zealand
Name : BEEBY HOLDINGS LIMITED
Affiliation type : Associate
Address : 19 Edith Street
Fairfield, Dunedin 9018
New Zealand
Bank Details
Name of bank : ASB Bank 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.
Description
Comments : Due to the
Subject’s recent date of establishment, financial information is not available.
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 engages in sales and
rental of civil construction machinery,
portable drilling rigs, air compressors etc.
Product & services :
· Pauselli Equipment
· Generators
· Portable Air Compressors
· GPS Location Systems
· Portable Drilling Rigs
· Robotic Cameras
Purchases
International : Mainly from Europe, Asia
Sales
Local : Yes
International : North America, South America, New Zealand,
Asia, Pacific Islands
Property &
Assets
Premises : The Subject operates from residential
premises located at the verified
heading
address consisting of an 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$33.24billion
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 Dollar (NZD)
Internet
users as % of total population
:
83 %
Purchase Term
International : Prepayment, D/P, Telegraphic
transfer, Credit 30-90 days
Sales Term
Local : Prepayment, D/P, Bank
transfer, Credit 30-90 days
International : Prepayment, D/P, Telegraphic
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.52 |
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UK Pound |
1 |
Rs.88.49 |
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Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.