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Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
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Name : |
STYLISH CLOTHING COMPANY (1988) LIMITED |
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Registered Office : |
15 Taylors Road, Morningside, Auckland, 1025 |
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Country : |
New Zealand |
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Date of Incorporation : |
31.01.1989 |
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Com. Reg. No.: |
417633 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Distribution of clothing wear. |
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No. of Employees : |
6 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 : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (31.03.2012) |
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 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.
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Source : CIA |
Verified Address
Subject name :
STYLISH CLOTHING COMPANY (1988) LIMITED
Business address : 15 Taylors
Road
Town :
Morningside
Province :
Auckland
Zip/postal code : 1025
Country :
New Zealand
Tel :
+64 9 8155922
Fax :
+64 9 8155924
Email :
stylish@stylishclothing.co.nz
Website :
www.stylishclothing.co.nz
Registered address : 15
Taylors Road
Town :
Morningside
Province :
Auckland
Zip/postal code : 1025
Country :
New Zealand
Postal address : P.O.
Box 2414
Town :
Auckland Central
Province :
Auckland
Zip/postal code : 1140
Country :
New Zealand
Executive Summary
Date founded or registered :
31/01/1989
Legal form :
Private Limited Company
Chief executive :
Francis Frederick Bacon
Issued & paid up capital :
NZD 1,000
Line of business :
Distribution of clothing wear.
Staff employed :
6 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 undetermined
Organization structure :
Organizational structure is stable
Detrimental : No detrimental found
Payment history :
No payment delays noted
Registry Data
Registration date :
31/01/1989
Legal form :
Private Limited Company
Registration no :
417633
Registered authority :
New Zealand Companies Office
Registry status :
Live/Active
Previous name :
None reported.
Change of legal form :
None reported.
Key Management
Name :
Francis Frederick Bacon
Designation :
Managing Director
Name :
Josephine Marie Bacon
Designation :
Director
Appointments
Name :
Francis Frederick Bacon
Designation :
Director
Appointment date :
31/01/89
Address :
51 St Johns Road
St Johns, Auckland 1072
New Zealand
Name :
Josephine Marie Bacon
Designation :
Director
Appointment date :
31/01/89
Address :
110 Tarawera Terrace
St Heliers, Auckland 1071
New Zealand
Staff employed :
6 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 :
Josephine Marie Bacon
Address :
110 Tarawera Terrace
St Heliers, Auckland 1071
New Zealand
No. of shares :
750 Shares
% of shares :
75%
Shareholder name :
Francis Frederick Bacon
Address :
51 St Johns Road
St Johns, Auckland 1072
New Zealand
No. of shares :
250 Shares
% of shares :
25%
Structure
Related companies and corporate affiliations comments : None reported.
Bank Details
Name of bank : ASB Bank
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 Mr. Francis Frederick Bacon 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
three conditions are met:
- 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.
Main activities :
The Subject is engaged in distribution of clothing wear.
Purchases
International :
China
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 and warehouse.
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 :
Prepayment, Credit 30-60 days
Sales Term
Local :
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.89 |
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|
1 |
Rs.84.92 |
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Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.