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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
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Name : |
D M PALMER NZ
LIMITED |
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Formerly Known As : |
DMP HOLDINGS
LIMITED (until 10-11-1999) |
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Registered Office : |
C/o
PRICEWATERHOUSECOOPERS 36 Munroe Street
Napier South Napier 4110 |
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Country : |
New Zealand |
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Date of Incorporation : |
26.03.1999 |
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Com. Reg. No.: |
952286 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Export of fruits
and vegetables. |
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No. of Employees : |
100 employees
(JM Bostock Group Full Time employees) |
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 – 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 |
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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.
Source
: CIA
Verified Address
Subject name : D M PALMER NZ LIMITED
Business address :
18 Morgan Street
Town : Newmarket
Province : Auckland
Zip/postal code : 1023
Country : New Zealand
Tel : +64 9 3735555
Fax : +64 9 3735574
Email :
dbrasell@dmpalmer.co.nz
Website : www.dmpalmer.co.nz
Registered address
: C/o PRICEWATERHOUSECOOPERS
36 Munroe Street
Town : Napier South
Province : Napier
Zip/postal code : 4110
Country : New Zealand
Postal address : P.O. Box 9151
Town : Newmarket
Province : Auckland
Zip/postal code : 1149
Country : New Zealand
Executive Summary
Date founded or
registered : 26/03/1999
Legal form : Private Limited
Company
Chief executive : John Murray Bostock
Issued & paid
up capital : NZD 435,606
Line of business :
Export of fruits and
vegetables.
Staff employed : 100 employees (JM
Bostock Group Full Time employees)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management
experience : Management is reasonably experienced
Financial
performance : Financial performance is undetermined
Organization
structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 26/03/1999
Legal form : Private Limited Company
Registration no 952286
Registered authority
: New Zealand Companies Office
Registry status : ive/Active
Previous name : DMP HOLDINGS LIMITED (until
10-11-1999)
KISKA 272 LIMITED (until 01-09-1999)
Change of legal
form : None reported.
Key Management
Name : David Brasell
Designation : General Manager
Name : Natalia Varenik
Designation : Financial Manager
Appointments
Name : John Murray Bostock
Designation : Director
Appointment date :
18/10/99
Address : Ngatarawa Road, R D 5
Bridge Pa, Hastings 4175
New Zealand
Staff employed :
100 employees (JM Bostock Group Full Time employees)
Composition
Authorized Capital
: NZD 435,606
No of shares : 435,606 Shares
Share par value : NZD 1
Issued capital : NZD 435,606
Paid up capital : NZD 435,606
How listed : Full
List
Composition
Shareholder name :
BOSTOCK GROUP LIMITED
Address : 3 Kirkwood Road
Flaxmere, Hastings 4175
New Zealand
No. of shares : 435,606 Shares
% of shares : 100%
Structure
Name : J.B. NOMINEES LIMITED
Affiliation type :
Ultimate Holding Company
Address : 3 Kirkwood Road
Flaxmere, Hastings 4175
New Zealand
Name : BOSTOCK GROUP LIMITED
Affiliation type :
Parent Company
Address : 3 Kirkwood Road
Flaxmere, Hastings 4175
New Zealand
Name : JBK LIMITED
Affiliation type :
Sister Company
Address : 3 Kirkwood Road
Flaxmere, Hastings 4175
New Zealand
Name : JM BOSTOCK LIMITED
Affiliation type :
Sister Company
Address : 3 Kirkwood Road
Flaxmere, Hastings 4175
New Zealand
Name : JOHN BOSTOCK PROPERTIES
LIMITED
Affiliation type :
Sister Company
Address : 3 Kirkwood Road
Flaxmere, Hastings 4175
New Zealand
Related companies
and corporate
affiliations
comments: Other companies of the
Bostock Group should be considered affiliates of the
Subject.
Bank Details
Name of bank : ANZ Bank New Zealand 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
Comments : The representative contacted Ms. Natalia
Varenik declined to provide any
financial information until the inquiring party details are revealed.
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 export of fruits and
vegetables. The Subject
grows its own produce (grower owned) in Hawkes Bay region of New
Zealand.
Besides horticultural products, the Subject also imports brass and
copper
in the form of sheet, strip and tube. The Subject supplies
"Neoceram" heat
resistant ceramic glass for the use of domestic wood burning space
heaters.
Product &
services : Fruits
Apple, Organic Apple, Pear, Kiwi, Orange, Lemon
Exotic Fruits
Tamarillos, Kiwanos, Feijoas, Pepinos, Pitaya, Passionfruit,
Blueberries,
Babaco, Cherimoyas and Cape Gooseberries
Vegetables/Organic Vegetables
Onion, Buttercup Squash, Pumpkin, Maize
Juice Concentrate
Apple and kiwifruit juice concentrates
Ice Cream
Rush Munro's Ice Cream with Chocolate, Vanilla and Feijoa flavours.
Brass and copper import products ranges from automobile radiator
manufacture to air conditioning and water heating.
Purchases
International :
Asia
Sales
Local : Yes
International :
Europe, North America, Middle East and Asia
Property & Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of an
administrative office.
Branches : In
addition, the Subject operates from branches located at Hawkes Bay
and Nelson in New
Zealand.
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 : Prepayment, Bank transfer, D/P,
Credit 30-90 days
International : Prepayment, Telegraphic transfer, D/P,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, D/P,
Credit 30-90 days
International : L/C, Telegraphic transfer, D/P, Credit
30-90 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.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
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 |
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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.