|
Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUHRMANN NZ 1983 LIMITED |
|
|
|
|
Registered Office : |
Unit 8, 75
Peterborough Street Christchurch Central Christchurch 8013 |
|
|
|
|
Country : |
New Zealand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
24.08.1983 |
|
|
|
|
Com. Reg. No.: |
207447 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Subject
operates as a wool broker |
|
|
|
|
No. of Employees : |
10 |
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 : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 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 :
FUHRMANN NZ 1983 LIMITED
Business
address : Unit 8, 75 Peterborough
Street
Town : Christchurch Central
Province : Christchurch
Zip/postal
code : 8013
Country : New Zealand
Tel : +64 3 3796173
Fax : +64 3 3650747
Email : fuhrmann@xtra.co.nz
Website : www.gschneider.com
Registered
address : Unit 8, 75 Peterborough
Street
Town : Christchurch Central
Province : Christchurch
Zip/postal
code : 8013
Country : New Zealand
Postal address
: P.O. Box 1164
Town : Christchurch Central
Province : Christchurch
Zip/postal
code : 8140
Country : New Zealand
Executive Summary
Date registered : 24/08/1983
Legal form : Private Limited
Company
Chief
executive : Peter
Jens Christensen
Issued &
paid up capital : NZD 1,993,901
Sales turnover
: NZD 62,341,190 (Non-Consolidated 12 months, 31/12/2012)
Net income : NZD 109,364
(Non-Consolidated 12 months, 31/12/2012)
Total fixed
assets : NZD
29,315,031 (Non-Consolidated 12 months, 31/12/2012)
Line of
business : Wool
broker.
Staff employed
: 10 employees
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is steady
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment
history : No payment
delays noted
Credit amount
asked : Not described.
Registry Data
Date founded :
22/09/1938
Registration
date 24/08/1983
Legal form : Private Limited
Company
Registration
no 207447
Registered
authority : New Zealand
Companies Office
Fiscal/ Tax no
: 044-936-461
Other
registration no : New
Zealand Business Number: 9429039998101
Registry
status : Live/Active
Previous name
: None reported.
Change of
legal form : None
reported.
Key Management
Name : Peter Jens Christensen
Designation : Chief Executive Officer
Name : John Moore Henderson
Designation : Director
Name : Stephen Francis Finnie
Designation : Director
Appointments
Name : Donald Richard Belgre
Designation : Director
Appointment
date : 26/06/06
Address : 3/40 Benelong Road
Cremorne, NSW 2090
Australia
Name : Peter Jens Christensen
Designation : Director
Appointment
date : 30/11/92
Address : 25 Godley Drive
Sumner, Christchurch 8081
New Zealand
Name : Stephen Francis Finnie
Designation : Director
Appointment
date : 16/04/01
Address : 108 Malcolm Avenue
Beckenham, Christchurch 8023
New Zealand
Name : John Moore Henderson
Designation : Director
Appointment
date : 18/03/92
Address : 629 Main North Road
Belfast, Christchurch 8051
New Zealand
Name : Claudio Lacchio
Designation : Director
Appointment
date : 26/06/06
Address : Via Castellazzo 19/A
13898 Occhieppo Superiore (BI)
Italy
Staff employed
: 10 employees
Key Advisors
Auditors : DELOITTE
50 Hazeldean Road
Addington, Christchurch 8024
New Zealand
Composition
Authorized
Capital : NZD 1,993,901
No of shares : 1,993,901 Ordinary Shares
Share par
value : NZD 1
Issued capital
: NZD 1,993,901
Paid up
capital : NZD 1,993,901
How listed : Full List
Composition
Shareholder
name : E R FOSTER NZ
LIMITED
Address : Unit 8, 75
Peterborough Street
Christchurch Central, Christchurch 8013
New Zealand
No. of shares
: 1,652,133
Ordinary Shares
Shareholder
name : Peter Jens
Christensen
Address : 25 Godley Drive
Sumner, Christchurch 8081
New Zealand
No. of shares
: 175,635
Ordinary Shares
Shareholder
name : John Moore
Henderson
Address : 629 Main
North Road
Belfast, Christchurch 8051
New Zealand
No. of shares
: 99,758
Ordinary Shares
Shareholder
name : Stephen Francis
Finnie
Address : 108 Malcolm
Avenue
Beckenham, Christchurch 8023
New Zealand
No. of shares
: 66,375
Ordinary Shares
Structure
Name : G.SCHNEIDER S.A.
Affiliation
type : Ultimate Holding
Company
Address : 1 2, Rue Guillaume Schneider
L - 2522 Luxembourg
Luxembourg
Comments : G. Schneider SA processes and
markets natural fiber including wool, cashmere,
and silk. The company was incorporated
in 1999 and is based in Luxembourg.
Name : FUHRMANN 1735 N.V.
Affiliation
type : Intermediate Holding
Company
Address : Koningslaan 17
1075AA Amsterdam
Netherlands
Name : E R FOSTER NZ LIMITED
Affiliation
type : Parent Company
Address : Unit 8, 75 Peterborough
Street
Christchurch Central, Christchurch 8013
New Zealand
Name : WAIHI WOOLS (1981)
LIMITED
Affiliation
type : Wholly-owned
Subsidiary
Address : Unit 8, 75 Peterborough
Street
Christchurch Central, Christchurch 8013
New Zealand
Name : FUHRMANN S.A.
Affiliation
type : Associate
Address : Ruta 25 Chacra 73 Lote 4 A
C.P. 9100 -Rawson, Chubut
Argentina
Bank Details
Name of bank : Bank of 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
Source of
financial statement : Commercial
Registry Filings
Financial
statement date : 31/12/12
Type of
accounts : Full
audited
Currency : New Zealand,
Dollar (NZD)
Exchange rate
: 1 USD = NZD
1.23
Summarized Financial Information
Consolidation
type : Non Consolidated Non
Consolidated
Currency : New Zealand, Dollar
(NZD)
New Zealand, Dollar
(NZD)
Denomination : (x1) One (x1)
One
Date of financial year end : 31/12/12 31/12/11
Length of
accounts : 12 months 12 months
Sale turnover
/ Income : 62,341,190 71,945,792
Gross profit :
1,255,525 1,951,968
Profit before
tax : 164,287 1,102,520
Net income : 109,364 7 91,051
Non current
assets : 1,194,047 911,388
Current assets
: 28,120,985 29,512,195
Inventories : 12,796,201 18,018,620
Total assets :
29,315,031 30,423,584
Current
liabilities : 23,838,161 25,399,859
Non current
liabilities : 184,732 67,202
Total
liabilities : 24,022,893
25,467,061
Share equity :
5,292,138 4,956,523
Retained
earning : 2,759,818 2,650,454
Main
activities : The Subject operates
as a wool broker.
Product &
services : Wool
Purchases
Local : Yes
International
: Australia
Sales
International
: China, India, Hong Kong, United
States
Property & Assets
Premises : The Subject operates from premises at the
verified heading address
consisting of an administrative office.
Branches : None reported.
Other property
: Total NBV of property, plant and equipment as of 31-12-2012 was NZD 1,194,047
Gross Domestic Products (GDP) &
Economic Overview
Central bank :
Reserve
Bank of New Zealand
Reserve of
foreign exchange & gold : US$
17.012 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 : 2010: 2.3%
2011: 4%
2012: 2.1%
Unemployment
rate : 2010: 6.5%
2011: 6.5%
2012: 6%
Public debt
(General
Government gross debt as
a % GDP)
: 2010: 32.3%
2011: 37%
2012: 36%
Government
bond ratings : Standard & Poor's: AA
Moody's rating: Aaa
Moody's outlook: STA
Market value
of publicly traded
shares
: US$71.66 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$37.73 billion
Exports
commodities : Dairy products, meat, wood
and wood products, fish, machinery
Total imports
: US$35.65 billion
Imports
commodities : Machinery and equipment,
vehicles and aircraft, petroleum, electronics,
textiles, plastics
Export - major
partners : Australia 22.2%, China 12.5%, US 8.5%, Japan 7.1%
Import - major
partners : China 16.1%, Australia 15.9%, US 10.4%, Japan 6.3%, Singapore 4.6%,
Germany 4.3%
FDI Inflows : 2009: US$-761 million
2010: US$636 million
2011: US$3,369 million
FDI Outflows :
2009: US$-1,037 million
2010: US$591 million
2011: US$2,856 million
Best countries
for doing business : 3 out of 185
countries
Global
competitiveness ranking : 23
(ranking by country on a basis of 144, the first is the best)
Country and Population Overview
Total population
: 4.46 million
Total area : 270,467 km2
Capital : Wellington
Currency : New Zealand
dollars (NZD)
Internet users
as % of total
Population : 86%
Purchase Term
Local : Prepayment, Bank transfer, Credit
up to 90 days
International
: Prepayment, Telegraphic transfer,
Credit up to 90 days
Sales Term
International
: L/C, Document against payment,
Credit up to 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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 |
|
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.