MIRA INFORM REPORT
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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SEGARD MASUREL (NZ) LIMITED |
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Formerly Known As : |
MASUREL FILS NZ LIMITED |
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Registered Office : |
Level 9, Psis House, 20-26 Ballance Street, Wellington Central, Wellington, Zip/Postal Code 6011 |
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Country : |
New zealand |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
30.11.1965 |
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Com. Reg. No.: |
18188 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Purchasing, marketing and export of wool |
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No. of Employees : |
09 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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With Financials |
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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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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 – 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 : SEGARD MASUREL (NZ) LIMITED
Business address : Level 9, PSIS House
20-26 Ballance Street
Town : Wellington Central
Province : Wellington
Zip/postal code : 6011
Country : New Zealand
Tel : +64 4 4723596
Fax : +64 4 4739727
Email : wool@masureldirect.co.nz
Website : www.segardmasurel.co.nz
Registered address : Level 9, PSIS House
20-26 Ballance Street
Town : Wellington Central
Province : Wellington
Zip/postal code : 6011
Country : New Zealand
Postal address : P.O. Box 3473
Town : Wellington Central
Province : Wellington
Zip/postal code : 6140
Country : New Zealand
Executive Summary
Date founded or registered : 30/11/1965
Legal form : Private Limited
Company
Chief executive : Peter J Whiteman
Issued & paid up capital
: NZD 3,611,000
Sales turnover : NZD 156,093,000 (Consolidated 12
months, 30/06/2010)
Net income : NZD 3,023,000
(Consolidated 12 months, 30/06/2010)
Total fixed assets : NZD 61,321,000 (Consolidated
12 months, 30/06/2010)
Line of business : Purchasing, marketing and
export of wool.
Staff employed : 9 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 30/11/1965
Legal form : Private Limited Company
Registration no 18188
Registered authority : New Zealand Companies Office
Registry status : Live/Active
Previous name : MASUREL FILS NZ LIMITED (until
31-10-2005)
Change of legal form : None reported.
Key Management
Name : Peter J Whiteman
Designation : Managing Director
Appointments
Name : Glenn Speight
Designation : Director
Appointment date : 24/11/92
Address : 5 Ocean Road
Paekakariki
5034
New
Zealand
Name : Peter J Whiteman
Designation : Director
Appointment date : 28/02/97
Address : 11 Fitzroy Street
Wadestown,
Wellington 6012
New
Zealand
Staff employed : 9 employees
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS
113-119,
The Terrace
Wellington
6011
New
Zealand
Composition
Authorized Capital : NZD 3,611,000
No of shares : 3,611,000 Ordinary Shares
Share par value : NZD 1
Issued capital : NZD 3,611,000
Paid up capital : NZD
3,611,000
How listed : Full List
Composition
Shareholder name : SEGARD MASUREL S.A.
Address : 38 Rue Faidherbe
59200
Tourcoing
France
No. of shares : 1,805,500 Ordinary Shares
% of shares : 50%
Shareholder name : SEGARD MASUREL (NZ) LIMITED
Address : Level 9, PSIS House
20-26
Ballance Street
Wellington
Central, Wellington 6011
New Zealand
No. of shares : 1,805,500 Ordinary Shares
% of shares : 50%
Structure
Name : SEGARD MASUREL S.A.
Affiliation type : Shareholder
Address : 38 Rue Faidherbe
59200
Tourcoing
France
Name : GRAMPIAN PROPERTIES PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Unit 9, 42-46 Vella Drive
Sunshine,
VIC 3020
Australia
Comments : Property ownership for use by the group.
Name : GRAMPIAN WOOLS (AUSTRALIA) PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Unit 9, 42-46 Vella Drive
Sunshine,
VIC 3020
Australia
Comments : Wool trading.
Name : SEGARD MASUREL (AUSTRALIA) PTY LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Unit 9, 42-46 Vella Drive
Sunshine,
VIC 3020
Australia
Comments : Wool trading.
Name : SEGARD MASUREL SOUTH AFRICA (PTY)
LTD
Affiliation type : Sister Company
Address : 4 Bedford Street, Neave Industrial
Area
Port
Elizabeth 6001
South Africa
Bank Details
Name of bank : ANZ National Bank
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 : 30/06/10
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 : Consolidated Consolidated
Currency : New Zealand,
Dollar New Zealand,
Dollar
(NZD) (NZD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/06/10 30/06/09
Length of accounts : 12 months 12 months
Sale turnover / Income : 156,093,000
139,544,000
Gross profit : 9,464,000 9,005,000
Profit before tax : 4,309,000 4,119,000
Net income : 3,023,000 2,874,000
Non current assets : 2,712,000 2,386,000
Current assets : 58,609,000 39,070,000
Inventories : 22,237,000 20,867,000
Total assets : 61,321,000 41,456,000
Current liabilities : 43,803,000 25,323,000
Non current liabilities : 137,000 171,000
Total liabilities : 43,940,000 25,494,000
Share equity 17,381,000 15,962,000
Reserve : 8,000 112,000
Retained earning : 13,762,000 12,239,000
Comments : The consolidated financial
information above relates to the Subject and its
subsidiaries.
Main activities : The Subject engages in purchasing,
marketing and export of wool.
The
Subject is part of the SegardMasurel Group. Since 1906, the Segard
Masurel
Group has been involved in the New Zealand wool industry, as
well as
establishing operations in Australia, Belgium, France, South Africa.
Purchases
Local : Yes
Sales
International : Worldwide
Property &
Assets
Premises : The Subject operates from
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 %
Sales Term
International : L/C, Prepayment, Telegraphic
transfer, D/P, Credit 30-120 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.88.85 |
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Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
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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.