|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
INGRAM MICRO (N.Z.) LIMITED |
|
|
|
|
Registered Office : |
78
Apollo Drive, Rosedale, Auckland 0632 |
|
|
|
|
Country : |
New Zealand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
21.02.1984 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Engages in import and distribution of information
technology |
|
|
|
|
No. of Employees : |
310 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : INGRAM MICRO (N.Z.)
LIMITED
Business
address : 78 Apollo Drive
Town :
Rosedale
Province
: Auckland
Zip/postal
code : 0632
Country
: New Zealand
Tel : +64 9 4140100
Fax : +64 9 4140101
Email
: sales@ingrammicro.co.nz
Website
: www.ingrammicro.com.nz
Registered
address : 78 Apollo Drive
Town :
Rosedale
Province
: Auckland
Zip/postal
code : 0632
Country
: New Zealand
Postal
address : Private Bag 102-921
North Shore Mail Centre
Town :
North Shore City
Province
: Auckland
Zip/postal
code : 0745
Country
: New Zealand
Executive Summary
Date
founded or registered : 21/02/1984
Legal
form : Private
Limited Company
Chief
executive : Gary
Stephen Bigwood
Issued
& paid up capital : NZD
18,326,000
Sales
turnover : NZD 582,555,000 (Non-consolidated 12
months, 31/12/2009)
Net
income : NZD
12,436,000 (Non-consolidated 12 months, 31/12/2009)
Total
fixed assets : NZD
234,978,000 (Non-consolidated 12 months, 31/12/2009)
Line
of business : Import
and distribution of information technology (“IT”) products.
Staff
employed : 310
employees (Subject); 15,500 employees (Ingram Micro Group)
Company Analysis
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is levelling off
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is very good
Organization
structure : Organizational
structure is consistent
Detrimental
: No detrimental records found
Payment
history : No payment
delays noted
Comments : Larger
credit can still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration
date : 21/02/1984
Legal
form : Private
Limited Company
Registration
no 204636
Registered
authority : New Zealand
Companies Office
Registry
status : Live/Active
Previous
name : The Subject
was established on 21-02-1984 under the name IMAGINEERING
MICRO
DISTRIBUTORS LIMITED and changed its name to TECH PACIFIC
(N.Z.)
LIMITED on 30-10-1991.
The
Subject then adopted to the current style on 12-12-2005.
Change
of legal form : None
reported.
Key Management
Name :
Gary Stephen
Bigwood
Designation
: Managing Director
Name :
Krishnan Lakshman
Designation
: Chief Financial Officer
Name :
Stuart Alexander
Designation
: Senior General Manager -
Value Division
Name :
Melanie Wrann
Designation
: General Manager - Volume
Vendor Management
Name :
Scott Cowen
Designation
: General Manager - Vendor
Mgmt/Marketing Lead
Name :
Pedro van der Ent
Designation
: Human Resources Business
Manager
Name :
Matt Connor
Designation
: Business Operations
Manager
Appointments
Name :
Frank Adoranti
Designation
: Director
Appointment
date : 27/11/08
Address
: 5 Hogan Grove
Castle Hill, NSW 2154
Australia
Name :
Gary Stephen
Bigwood
Designation
: Director
Appointment
date : 27/11/08
Address
: 18 Whiteways Drive,
Rd 2
Albany, Auckland 0792
New Zealand
Name :
Shailendra Gupta
Designation
: Director
Appointment
date : 09/06/03
Address
: 13 Tanjong Rhu Road
The Waterside #12-02, Block 3
Singapore 436897
Singapore
Name :
Krishnan Lakshman
Designation
: Director
Appointment
date : 01/02/11
Address
: 932 Beach Road
Waiake, North Shore City 0630
New Zealand
Name :
Robert Jay Miley
Designation
: Director
Appointment
date : 22/03/07
Address
: 30 Fletcher Street
Woollahra, NSW 2025
Australia
Name :
Stephen John
Paine
Designation
: Director
Appointment
date : 22/03/07
Address
: 32 Orange Grove
Road, #M-206
Singapore 258354
Singapore
Staff employed
: 310 employees (Subject);
15,500 employees (Ingram Micro Group)
Key Advisors
Auditors
: PRICEWATERHOUSECOOPERS
PricewaterhouseCoopers Tower, Level 22
188 Quay Street
Auckland Central, Auckland, 1010
New Zealand
Composition
Authorized
Capital : NZD 18,326,000
No of
shares : 4,009,064 Ordinary
Shares
Share
par value : No par value
Issued
capital : NZD 18,326,000
Paid
up capital : NZD 18,326,000
How
listed : Full List
Composition
Shareholder
name : TECH PACIFIC HOLDINGS (NZ)
LIMITED
Address
: 78 Apollo Drive
Rosedale, North Shore City 0632
New Zealand
No. of shares : 4,009,064 Ordinary Shares
% of shares : 100%
Structure
Name :
INGRAM MICRO INC.
Affiliation
type : Ultimate Holding
Company
Address
: 1600 E. St. Andrew
Place
Santa Ana, California 92705
United States
Comments : Ingram
Micro Inc. distributes information technology (IT) products and supply chain solutions
worldwide. The company offers IT peripheral products, including printers,
scanners, displays, projectors, monitors, panels, mass storage, and tape; large
format LCD and plasma displays, enclosures, mounts, media players, content
software, content creation, and content hosting; cell phones, digital cameras,
digital video disc players, game consoles, televisions, audio, media
management, and home control; barcode/card printers, AIDC scanners and
software, and wireless infrastructure products; IP video surveillance, security
alarm systems, fire alarm systems, and access control smart cards and printers;
processors, motherboards, hard drives, and memory; and paper, carrying cases,
anti-glare screens, and ink and toner supplies. It also provides various
systems, such as rack, tower, and blade servers; desktops; portable personal
computers and tablets; and personal digital assistants, as well as business
application software, operating system software, entertainment software,
middleware, developer software tools, security and storage software, and
virtualization software. The company’s networking products comprise switches,
hubs, routers, wireless local and wide area networks, network interface cards,
cellular data cards, network-attached storage, and storage area networks; voice
over Internet protocol, communications, modems, phone systems, and video/audio
conferencing; and firewalls, virtual private networks, intrusion detection, and
authentication devices and appliances. In addition, it provides supply chain,
integration, technical and training support, financial and credit, marketing,
business intelligence, e-commerce, reseller community hosting, managed, cloud,
and mobility activation services. The company sells its products and services
to resellers through sales representatives. Ingram Micro Inc. was founded in
1979 and is headquartered in Santa Ana, California.
Name :
INGRAM MICRO ASIA
HOLDINGS INC.
Affiliation
type : Superior Holding
Company
Address
: 1600 E. St. Andrew
Place
Santa Ana, California 92705
United States
Name :
INGRAM MICRO NEW
ZEALAND HOLDINGS
Affiliation
type : Intermediate Holding
Company
Address
: 78 Apollo Drive
Rosedale, North Shore City 0632
New Zealand
Name :
TECH PACIFIC
HOLDINGS (NZ) LIMITED
Affiliation
type : Parent
Company
Address
: 78 Apollo Drive
Rosedale, North Shore City 0632
New Zealand
Name :
INGRAM MICRO PTY
LTD
Affiliation
type : Sister Company
Address
: 61 Dunning Avenue
Rosebery, NSW 2018
Australia
Related
companies and corporate
affiliations
comments
:
Other companies of the Ingram Micro Group should be considered affiliates of
the
Subject.
Bank Details
Name
of bank : Westpac Banking
Corporation
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 : 31/12/09
Type
of accounts : Full
audited
Currency
: New
Zealand, Dollar (NZD)
Exchange
rate : 1
USD = NZD 1.23 as of 10-09-2012
Summarized Financial Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency
: New
Zealand, Dollar New Zealand, Dollar US Dollar
(NZD) (NZD)
(USD)
Denomination
: (x1) One (x1) One (x1) One
Date
of financial year end : 31/12/09 31/12/08 31/12/11
Length
of accounts : 12 months 12 months 12 months
Sale
turnover / Income : 582,555,000 578,470,000 36,328,701,000
Gross
profit : 49,911,000
51,187,000 1,908,282,000
Operating
profit : 458,646,000
Profit
before tax : 21,221,000
23,594,000 387,871,000
Net
income : 12,436,000
15,898,000 244,240,000
Non
current assets : 124,774,000
118,997,000 528,114,000
Current
assets : 110,204,000
104,737,000 8,618,402,000
Inventories
: 42,063,000
40,560,000 2,942,164,000
Total
assets : 234,978,000
223,734,000 9,146,516,000
Current
liabilities : 63,676,000
81,570,000 5,509,875,000
Non
current liabilities : 57,039,000
40,438,000 363,864,000
Total
liabilities : 120,715,000
122,008,000 5,873,739,000
Share
equity : 114,263,000
101,726,000 3,272,777,000
Retained
earning : 95,149,000 82,713,000 2,444,995,000
Comments : The
non-consolidated financial information above relates to the Subject only. The
Subject's latest financial information is not available at the registry.
The group’s consolidated financial information above relates
to the Subject’s
Ultimate Holding Company Ingram Micro Inc. and all its
subsidiaries which include the Subject.
Main activities : The
Subject engages in import and distribution of information technology (“IT”)
products.
The Subject also provides resellers with support in sales,
technical pre-sales, professional services, marketing, logistics, and vendor
engagement.
The Subject is ultimately owned by Ingram Micro Inc. based
in United
States of America.
Ingram Micro Inc., a Fortune 100 company, is the world’s
largest technology distributor and a leading technology sales, marketing and
logistics company for the IT industry worldwide. As a vital link in the
technology value chain, Ingram Micro creates sales and profitability
opportunities for vendors and resellers through unique marketing programs,
outsourced logistics services, technical support, financial services and
product aggregation and distribution. Ingram Micro Inc. supports global
operations through an extensive sales and distribution network throughout North
America, Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific:
- Local sales offices and/or representatives in 26 countries
- 105 distribution centers worldwide
- Representing more than 1,300 vendors
- Serving more than 190,000 resellers in approximately 145
countries
- Providing support through approximately 15,500 world-wide
associates
- The only global broad-based IT distributor in Asia
Product & services : - IT
Peripherals: Server, printers, scanners, displays, projectors, monitors,
panels, digital signage products, cell phones, digital cameras, digital video
disc players, game consoles, televisions, barcode/card printers, AIDC scanners,
AIDC software, Internet protocol video surveillance, security alarm systems,
fire alarm systems, access control smart card, desktops; portable personal,
computers and tablets
- Software products: business application software, operating
system software, entertainment software, middleware, developer software tools,
security software (firewalls, intrusion detection, and encryption), storage
software and virtualization software
- Networking products: switches, hubs, routers, wireless
local area networks, wireless wide area networks, network interface cards,
cellular data cards, network-attached storage and storage area networks
- Communication products incorporate Voice over Internet
Protocol (or VoIP), communications, modems, phone systems and video/audio
conferencing
- Network security hardware includes firewalls, Virtual
Private Networks (or
VPNs), intrusion detection, and authentication devices and
appliances.
Brand
: 3M
3COM
APC by Schneider
ADOBE
ANTEC
ASUS
ACER
AMD
AOC
ASUSTEK
ADEXUS
BELKIN
BROTHER
Built NY
BIRCH
CISCO
CANON
CA
CHERRY
CRUCIAL
COREL
COGNITIVE TPG
CASH BASES
CRYSTAL REPORTS
CISCO SYSTEMS INTERNATIONAL BV
DATALOGIC
D-LINK
DATAMAX-ONEIL
DO NOT USE - IMATION ANZ PTY LTD
DYNALINK/NETCOMM
DATAMAX
DIVOOM
DOVE
DIGIPOS
DENSO
EPSON
EATON
ERGOTRON
EVOLIS
EVOLUTION
EBN
EAGLHEAD
ELO
eMachines
FUJI XEROX
FEC
FUJIFILM
FIRICH
GN NETCOM
GE
HP
HAUPPAUGE
HANDSFREE
HYUNDAI
IBM
INTEL
IMATION
IN WIN
INGRAM MICRO
IOMEGA
I-MATE
INGENICO
IT POWER
IOGEAR
JAVELIN
KINGSTON
KONICA MINOLTA
KYOCERA
KENSINGTON
Kanex
Konftel
KINGSTON TECHNOLOGY
KASEYA
KINGSTON DIGITAL
LEXMARK
LENOVO
LOGITECH
LASER
LG
LIVESCRIBE
LEXAR
LITHO-LAV
LINKCRAFT
MOTOROLA
MICROSOFT
MODEMPAK
MCAFEE
MSI
MYOB
Monitors
MARCVELOUS
MDR
MAGTEK
MAXXMEDIA
MEDIAFRENZ
NETGEAR
NETCOMM
OKI
Oceans
OPTICON
ORACLE
PRINTEX
PHILIPS
POSIFLEX
PUDNEY
POWERWARE
POSBOX
QUICKEN
RIM
SONY
SYMANTEC
SAMSUNG
SOCKET
SEAGATE
SWANN
SYMBOL
SAP
ST-Lab
Silverstone
SWEEX
TARGUS
TEKLYNX
TANDBERG
TOSHIBA
TRANSCEND
TOMTOM
TEGATECH
TREND MICRO
TOTAL INTERACTIVE
TRANS LINK
UNIDEN
VERBATIM
V7
VANTEX
WESTERN DIGITAL
WACOM
XEROX
ZEBRA
ZOTAC
Purchases
Local
: Yes
International : Imports
mainly from Asia and in addition imports from United States, Europe and
Australia.
Sales
Local
: Yes
International
: Pacific Islands
Property & Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of administrative office.
Branches
: The Subject in
addition operates from branch office located at: Wellington Office
Level 7, TeRenCo House
86-96 Victoria Street
Wellington
New Zealand
Tel: +64 4 4703880
Auckland Warehouse
25 Falcon Avenue
(Corner of Falcon Ave & Edsel Way)
Manukau 2104, Auckland
New Zealand
Tel: +64 9 4140691
Christchurch Warehouse and Office
40 Ballarat Way
Wigram, Christchurch 8042
New Zealand
Tel: +64 3 3412189 / 3392850
Intellectual
property : IBM Business Partner
Awards
IBM: Business Partner Awards 2009 – Matt Harrison Winner
People’s
Choice Distributor Award
Vantex Awards 2009
Motorola: 2009 Distributor of the Year NZ - Vantex
Motorola: Motorola MVP Award – Winner Eric Ryda
Zebra: 2009 Distributor of the Year
Enterprise North Shore & Westpac Bank Business
Excellence Awards
Supreme winner North Shore Business Awards 2009
Winner of Excellence in Sustainability award 2009
Winner of Employer of Choice award 2009
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)
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
Local
: Credit 45-60
days
International
: Credit 45-60
days after B/L
Sales Term
Local
: Credit
card, Prepayment, Bank transfer, Credit 30-60 days
International
: Credit 30
days, Telegraphic transfer
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.55.33 |
|
|
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.