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Report Date : |
14.02.2013 |
IDENTIFICATION DETAILS
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Name : |
PSP LIMITED |
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Registered Office : |
320 Rosedale Road Albany Auckland 0632 |
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Country : |
New Zealand |
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Date of Incorporation : |
15.11.1996 |
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Com. Reg. No.: |
835414 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and
distributor of plastic sheets, architectural and building products,
decorative products etc. |
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No. of Employees : |
45 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
New Zealand |
A1 |
A1 |
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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 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 : PSP LIMITED
Business address :
320 Rosedale Road
Town : Albany
Province : Auckland
Zip/postal code : 0632
Country : New Zealand
Tel : +64 9 4152800
Fax : +64 9 4152809
Email : customerservices@psp.co.nz
Website : www.psp.co.nz
Registered address
: 320 Rosedale Road
Town : Albany
Province : Auckland
Zip/postal code : 0632
Country : New Zealand
Postal address : P.O. Box 101 851
North Shore Mail Centre
Town : North Shore City
Province : Auckland
Zip/postal code : 0745
Country : New Zealand
Executive Summary
Date founded or
registered : 15/11/1996
Legal form : Private Limited
Company
Chief executive : Dean Raymond Hodgson
Issued & paid
up capital : NZD 10,000
Sales turnover : NZD 26,000,000 (Estimated
non-consolidated 12 months, 31/03/2012)
Line of business :
Import and
distributor of plastic sheets, architectural and building products,
decorative products etc.
Staff employed : 45 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 fair
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 15/11/1996
Legal form : Private Limited Company
Registration no 835414
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Graham William Gibbs
Designation : Managing Director
Name : Dean Raymond Hodgson
Designation : Director
Appointments
Name : Christopher Roy Booth
Designation : Director
Appointment date :
01/08/07
Address : 329A Beach Road
Campbells Bay, Auckland 0630
New Zealand
Name : Roydon Andrew Dew
Designation : Director
Appointment date : 01/08/07
Address : 4 Helmsdale Court
Huntington, Hamilton 3210
New Zealand
Name : Graham William Gibbs
Designation : Director
Appointment date :
15/11/96
Address : 10 Audrey Road
Takapuna, Auckland 0620
New Zealand
Name : Dean Raymond Hodgson
Designation : Director
Appointment date :
01/08/07
Address : 18 Pimento Place
New Lynn, Auckland 0600
New Zealand
Staff employed : 45 employees
Composition
Authorized Capital
: NZD 10,000
No of shares : 10,000 Shares
Share par value : NZD 1
Issued capital : NZD 10,000
Paid up capital : NZD 10,000
How listed : Full List
Composition
Shareholder name :
Jointly held by Graham William
Gibbs & Dean Raymond Hodgson
Address : Graham William Gibbs
10 Audrey Road
Takapuna, Auckland 0620
New Zealand
Dean Raymond Hodgson
18 Pimento Place
New Lynn, Auckland 0600
New Zealand
No. of shares : 10,000 Shares
% of shares : 100%
Structure
Name : LEAST OPTIONS LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 320 Rosedale Road
Albany, Auckland 0632
New Zealand
Name : PROUDTREAT (2003)
LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 320 Rosedale Road
Albany, Auckland 0632
New Zealand
Name : PSP STONECRAFT LIMITED
Affiliation type :
Sister Company
Address : 28 Poland Road
Wairau Valley, Auckland 0627
New Zealand
Name : TRANSFORM PACKAGING
LIMITED
Affiliation type :
Sister Company
Address : C/o MARLEY LOFT LIMITED
Level 6, 130 Broadway
Newmarket, Auckland 1023
New Zealand
Name : TRANSFORM TECHNOLOGIES
LIMITED
Affiliation type :
Sister Company
Address : C/o MARLEY LOFT LIMITED
Level 6, 130 Broadway
Newmarket, Auckland 1023
New Zealand
Bank Details
Name of bank : Australia And New Zealand Banking
Group Limited
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 : Provided by the
Subject
Financial
statement date : 31/03/12
Type of accounts :
Estimated key figures
Currency : New Zealand,
Dollar (NZD)
Exchange rate : 1 USD = NZD 1.20 as of
11-02-2013
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 : 31/03/12 31/03/11
Length of accounts
: 12 months 12 months
Sale turnover /
Income : 26,000,000 27,000,000
Comments : The estimated turnover was provided by Mr.
Dean Raymond Hodgson.
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 engaged in import
and distributor of plastic sheets,
architectural and building products, decorative products etc.
Product &
services : Plastic Sheets:
Acrylic, Polycarbonate, PVC, ACM, Digital & Industrial Plastics
Architectural and building products:
Roofing Systems, Corrugated Sheeting, Cladding & Fencing Systems
Decor products:
Decor Satin (Acrylic sheet), Decor Glass, Decor Infused among others.
Purchases
International :
Germany, Australia, Israel, India, Taiwan, South Korea, China, Japan,
Vietnam, United
States
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of a administrative office, showroom and warehouse.
Branches : In addition, the Subject operates from
the following branch offices and
showrooms located at:
13 Tawn Place
Pukete, Hamilton 3200
New Zealand
Tel: +64 7 8506280
72 Hammersmith Drive
Wigram, Christchurch 8042
New Zealand
Tel: +64 3 3410248
Riddlers Crescent
Petone, Wellington 5012
New Zealand
Tel: +64 4 5687180
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 tradedshares: 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 :
L/C, Prepayment, Credit 30-60 days
Sales Term
Local : Prepayment,
Bank transfer, D/P, 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.53.85 |
|
|
1 |
Rs.84.42 |
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Euro |
1 |
Rs.72.40 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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.