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Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
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Name : |
WEBBING & TAPES REM LIMITED |
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Formerly Known As : |
WEBBING & TAPES (NZ) LIMITED |
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Registered Office : |
C/o CHARTERED ACCOUNTING (WILLIAMS) LIMITED Unit 9, 22A |
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Country : |
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Date of Incorporation : |
22.06.2000 |
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Com. Reg. No.: |
1044538 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and sales of webbing and tape products. |
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No. of Employees : |
18 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 : |
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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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 : WEBBING & TAPES REM LIMITED
Business address :
22 Patrick Street
Town : Onehunga
Province : Auckland
Zip/postal code : 1061
Country : New Zealand
Tel : +64 9 6222043
Fax : +64 9 6222409
Email : info@webbing.co.nz
Website : www.webbing.co.nz
Registered address
: C/o CHARTERED ACCOUNTING (WILLIAMS)
LIMITED
Unit 9, 22A Kalmia Street
Town : Ellerslie
Province : Auckland
Zip/postal code : 1051
Country : New Zealand
Postal address : P.O. Box 13 721
Town : Onehunga
Province : Auckland
Zip/postal code : 1643
Country : New Zealand
Executive Summary
Date founded or
registered : 22/06/2000
Legal form : Private Limited
Company
Chief executive : Roger Paul Mill
Issued & paid
up capital : NZD 100,000
Line of business :
Manufacturing and
sales of webbing and tape products.
Staff employed : 18 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
Organisation
structure : Organisational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date
: 22/06/2000
Legal form : Private Limited Company
Registration no 1044538
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : WEBBING & TAPES (NZ) LIMITED
(until 11-05-2006)
STANDARD 4800 LIMITED (06-07-2000)
Change of legal
form : None reported.
Comments : The Subject commenced trading
in May 2006 following a merger between
Webbing & Tapes NZ Ltd, New Zealand Ribbon Manufacturing and Ribbon
and
Elastic Manufacturers Limited (REM).
Key Management
Name : Roger Paul Mill
Designation : Managing Director
Name : John George Smart
Designation : General Manager
Appointments
Name : Roger Paul Mill
Designation : Director
Appointment date :
22/06/00
Address : 9 Glen Atkinson Street
St Heliers, Auckland 1071
New Zealand
Name : John George Smart
Designation : Director
Appointment date :
01/08/11
Address : 5B Towai Street
St Heliers, Auckland 1071
New Zealand
Staff employed :
18 employees
Composition
Authorized Capital
: NZD 100,000
No of shares : 100,000 Shares
Share par value : NZD 1
Issued capital : NZD 100,000
Paid up capital : NZD 100,000
How listed : Full List
Composition
Shareholder name :
Jointly held by Lesley Lorraine
Mill, Roger Paul Mill & TRUSTS LIMITED
Address : Lesley Lorraine Mill &
Roger Paul Mill
9 Glen Atkinson Street
St Heliers, Auckland 1071
New Zealand
TRUSTS LIMITED
Level 2, 1 Broadway
Newmarket, Auckland 1023
New Zealand
No. of shares : 100,000 Shares
% of shares : 100%
Structure
Name : VICTORIA MANAGEMENT LIMITED
Affiliation type :
Associate
Address : 22 Patrick Street
Onehunga, Auckland 1061
New Zealand
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 Mr. John
George Smart 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 engages in manufacturing and
distribution of webbing and
tape products.
WT Distributors is a division of the Subject which is responsible for
the
marketing and sales of all webbing and tape products manufactured in its
New Zealand factory together with an extensive range of ancillary
imported
outdoor products such as PVC Banner material, PVC clear sheet, self
piercing eyelets, buckles and accessories.
The Subject supplies its products to marine, window furnishings,
clothing,
transport and outdoor industries.
Product &
services : Webbing and Binding products: Polyester Webbing, Polypropylene
Webbing, Weldable Webbing, Elastic products, Jacquard Webbing, Cotton
Webbing & Binding
Windows Furnishings: Curtain Tapes
Fasteners & Tools: Plastic Buckles, Press Stud Fasteners, Rope
Hooks,
Self Piercing Eyelets
Apparel Trimming: Cotton & Polycotton Tapes
Signage products: PVC Banner material, PVC clear sheet etc
Brand : PROCOTE
PROFLEX
TECPRO
UVPRO
WEBPRO
Purchases
International :
Asia, Europe, United States
Sales
Local : Yes
International :
Australia, Middle East
Property & Assets
Premises : The Subject operates from premises at the
verified heading address
consisting of a production facility and warehouse.
Branches : In addition, the Subject operates from a
showroom, warehouse and
distribution center located at:
108 Mays Road
Onehunga, Auckland 1061
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
International :
Prepayment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local :
Prepayment, Bank transfer, Credit 30-90 days
International :
Prepayment, Telegraphic transfer, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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1 |
Rs.91.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.