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Report Date : |
06.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LYFESTILE PROCUREMENTS LIMITED |
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Registered Office : |
44E Crooks Road
East Tamaki Auckland 2013 |
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Country : |
New Zealand |
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Date of Incorporation : |
02.11.2006 |
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Com. Reg. No.: |
1878291 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Import and wholesale
distribution of apparels, clothing accessories and textile products. |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 :
LYFESTILE PROCUREMENTS
LIMITED
Business
address : 44E Crooks Road
Town : East Tamaki
Province : Auckland
Zip/postal
code : 2013
Country : New Zealand
Tel : +64 9 2710416
Fax : +64 9 2710419
Email : info@lyfestile.co.nz /
sales@lyfestile.co.nz
Website : www.lyfestile.co.nz
Registered
address : 44E Crooks Road
Town : East Tamaki
Province : Auckland
Zip/postal
code : 2013
Country : New Zealand
Executive Summary
Date founded
or registered : 02/11/2006
Legal form : Private Limited
Company
Chief
executive : Craig
Raymond Dalton
Issued &
paid up capital : NZD 1,000
Line of
business : Import
and wholesale distribution of apparels, clothing accessories and textile
products.
Staff employed
: 5 employees
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Credit amount
asked : Not described.
Registry Data
Registration
date : 02/11/2006
Legal form : Private Limited Company
Registration
no 1878291
Registered
authority : New Zealand Companies
Office
Fiscal/ Tax no
: 9429033795072
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None reported.
Key Management
Name : Craig Raymond Dalton
Designation : Joint Managing Director
Name : Bilkish Homi Vazifdar
Designation : Joint Managing Director
Appointments
Name : Craig Raymond Dalton
Designation : Director
Appointment
date : 01/10/09
Address : 830 Linwood Road, Rd 1
Papakura, Auckland 2580
New Zealand
Name : Bilkish Homi Vazifdar
Designation : Director
Appointment
date : 02/11/06
Address : 6 Pounamu Place
Shelly Park, Auckland 2014
New Zealand
Staff employed
: 5 employees
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 : Craig Raymond Dalton
Address : 830 Linwood Road, Rd 1
Papakura, Auckland 2580
New Zealand
No. of shares
: 500 Shares
% of shares : 50%
Shareholder
name : Bilkish Homi Vazifdar
Address : 6 Pounamu Place
Shelly Park, Auckland 2014
New Zealand
No. of shares
: 500 Shares
% of shares : 50%
Structure
Name : XTERRA NEW ZEALAND LIMITED
Affiliation
type : Sister Company
Address : 44E Crooks Road
East Tamaki, Auckland 2013
New Zealand
Name : SOLE 97 LIMITED
Affiliation
type : Associate
Address : 44E Crooks Road
East Tamaki, Auckland 2013
New Zealand
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 representative contacted Ms. Bilkish
Homi Vazifdar advised that the
Subject’s annual turnover is between NZD 1 million to NZD 1.5 million.
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 import and wholesale distribution of apparels,
clothing accessories and textile
products.
Product &
services : Gloves
Men's Clothing
Scarves
Homeware
Socks
Headwear
Brand : LYFESTILE
THE GOOD HOUSEWIFE
Purchases
International
: India, China, Hong Kong
Sales
Local : Yes
International
: No exports.
Property & Assets
Premises : The Subject operates from premises at the
verified heading address
consisting of a warehouse and 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$33.24 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
: Telegraphic transfer, Credit 30-60 days
Sales Term
Local : Bank
transfer, Prepayment, Credit 30-60 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.61.69 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.84.07 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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.