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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ABRIGO FASTENING SYSTEMS LIMITED |
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Registered Office : |
C/o FLINTOFF'S 85 Gala Street Queens Park Invercargill 9810 |
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Country : |
New Zealand |
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Date of Incorporation : |
27.09.2010 |
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Com. Reg. No.: |
3125185 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Dormant company. The Subject was previously engaged in import and distribution of fasteners and related products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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) |
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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 roughly 2% per year growth in 2010-12. 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 : ABRIGO FASTENING SYSTEMS LIMITED
Business address :
C/o FLINTOFF'S
85 Gala Street
Town : Queens Park
Province : Invercargill
Zip/postal code : 9810
Country : New Zealand
Tel : +64 3 2147979
Fax : +64 3 2146273
Registered address
: C/o FLINTOFF'S
85 Gala Street
Town : Queens Park
Province : Invercargill
Zip/postal code : 9810
Country : New Zealand
Comments : The representative Mr. Paul
Richard Kennerley contacted at +64 9 2756811
advised that he and Mr. Mark Harold Simmons has sold its business to a
different entity under the name FASTENERS DIRECT GLOBAL LIMITED under
the New Zealand Companies Office registration no 4237778 since 1
February
2013. The Subject is now a dormant company and will eventually be struck
off.
The company FASTENERS DIRECT GLOBAL LIMITED under the New Zealand
Companies Office registration no 4237778 is engaged in import and
distribution
of fasteners and related products. FASTENERS DIRECT GLOBAL LIMITED is
operating under the address 27 Aintree Avenue, Mangere, Auckland 2022,
New
Zealand.
Executive Summary
Date founded or
registered : 27/09/2010
Legal form : Private Limited
Company
Chief executive : Paul Richard Kennerley
Issued & paid
up capital : NZD 1,000
Line of business : Dormant
company. The Subject was previously engaged in import and distribution of
fasteners and related products.
Staff employed : Nil
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
stalled (dormant)
Management
experience : Management is
inadequately experienced
Financial
performance : Financial
performance is undetermined
Organization
structure : Organizational
structure is flawed
Detrimental : Serious detrimental found
Payment history : Payment punctuality is
undetermined
Credit amount
suggestion : Fully secured terms.
Comments : It
is strictly advisable to conduct all business dealings on prepayment or L/C
basisas the Subject is a dormant company.
The representative Mr. Paul Richard Kennerley contacted at +64 9 2756811
advised that he and Mr. Mark Harold Simmons has sold its business to a
different
entity under the name FASTENERS DIRECT GLOBAL LIMITED under the New
Zealand Companies Office registration no 4237778 since 1 February 2013.
The
Subject is now a dormant company and will eventually be struck off. The
company FASTENERS DIRECT GLOBAL LIMITED under the New Zealand
Companies Office registration no 4237778 is engaged in import and
distribution of fasteners and related products. FASTENERS DIRECT GLOBAL LIMITED
is
operating under the address 27 Aintree Avenue, Mangere, Auckland 2022,
New
Zealand.
Registry Data
Registration date
: 27/09/2010
Legal form : Private Limited Company
Registration no 3125185
Registered
authority : New Zealand Companies
Office
Registry status : Dormant
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Paul Richard Kennerley
Designation : Managing Director
Appointments
Name : Paul Richard Kennerley
Designation : Director
Appointment date :
27/09/10
Address : 72 Motatau Road
Papatoetoe, Auckland 2025
New Zealand
Name : Mark Harold Simmons
Designation : Director
Appointment date :
27/09/10
Address : 84 St Andrew Street
Richmond, Invercargill 9810
New Zealand
Staff employed :
Nil
Composition
Authorized Capital
: NZD 1,000
No of shares : 1,000 Shares
Share par value : NZD 1
Issued capital : NZD 1,000
Paid up capital : NZD 1,000
How listed : Full List
Composition
Shareholder name :
Mark Harold Simmons
Address : 84 St Andrew Street
Richmond, Invercargill 9810
New Zealand
No. of shares : 510 Shares
% of shares : 51%
Shareholder name :
Paul Richard Kennerley
Address : 72 Motatau Road
Papatoetoe, Auckland 2025
New Zealand
No. of shares : 490 Shares
% of shares : 49%
Structure
Related companies
and corporate affiliations comments : None
reported.
Bank Details
Name of bank : ASB Bank 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 : The Subject is a dormant
company hence financial information is not available
with New Zealand Companies Office.
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 now a dormant
company. The Subject was previously
engaged in import and distribution of fasteners and related products.
Purchases
Local : None reported.
International : None reported.
Sales
Local : None reported.
International : None reported.
Property & Assets
Premises : The Subject does not operate
from a physical premises and all
correspondence is conducted through the Subject's accountant located at
the verified heading address.
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
Local : None
International : None
Sales Term
Local : None
International : None
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.
Investigation Note
Sources : 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.54.30 |
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1 |
Rs.82.88 |
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Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.