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Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ELECTRODIP
LIMITED |
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Registered Office : |
12 Stewart Street Te Puke Western Bay Of Plenty 3119 |
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Country : |
New Zealand |
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Date of Incorporation : |
29.03.2000 |
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Com. Reg. No.: |
1024146 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and distribution of automated sheep dip machine. |
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No. of Employees : |
7 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 – 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 |
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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 : ELECTRODIP LIMITED
Business address :
11 King Street
Town : Te Puke
Province : Western Bay Of Plenty
Zip/postal code : 3119
Country : New Zealand
Tel : +64 7 5738512
Fax : +64 7 5738025
Website : www.electrodip.co.nz
Registered address
: 12 Stewart Street
Town : Te Puke
Province : Western Bay Of Plenty
Zip/postal code : 3119
Country : New
Zealand
Executive Summary
Date founded or
registered : 29/03/2000
Legal form : Private Limited
Company
Chief executive : Martin Balfour Carey
Issued & paid
up capital : NZD 100
Line of business : Manufacturing and
distribution of automated sheep dip machine.
Staff employed : 7 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management
experience : Management is
modestly 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
: 29/03/2000
Legal form : Private Limited Company
Registration no 1024146
Registered
authority : New Zealand Companies
Office
Registry status : Live/Active
Previous name : ELECTROQUIP LIMITED (until
08-02-2012)
Change of legal
form : None reported.
Key Management
Name : Martin Balfour Carey
Designation : Managing Director
Appointments
Name : Martin Balfour Carey
Designation : Director
Appointment date :
29/03/00
Address : 12 Stewart Street
Te Puke, Western Bay Of Plenty 3119
New Zealand
Name : Raewyn Patricia Carey
Designation : Director
Appointment date :
29/03/00
Address : 12 Stewart Street
Te Puke, Western Bay Of Plenty 3119
New Zealand
Staff employed : 7 employees
Composition
Authorized Capital
: NZD 100
No of shares : 100 Shares
Share par value : NZD 1
Issued capital : NZD 100
Paid up capital : NZD 100
How listed : Full
List
Composition
Shareholder name :
Jointly held by Martin Balfour
Carey & Raewyn Patricia Carey
Address : Martin Balfour Carey &
Raewyn Patricia Carey
12 Stewart Street
Te Puke, Western Bay Of Plenty 3119
New Zealand
No. of shares : 100 Shares
% of shares : 100%
Structure
Related companies
and corporate affiliations comments :
None reported.
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. Martin Balfour Carey advised that the Subject’s
annual turnover is
between NZD 1 to 2 million.
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 automated sheep dip
machine.
Purchases
International :
Italy, Australia
Sales
Local : Yes
International : United
Kingdom, Australia, Turkey, United Arab Emirates, Argentina,France
Property & Assets
Premises : The
Subject operates from premises at the verified heading address
consisting of a
workshop facility, warehouse and administrative office.
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
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
Local : Bank transfer, Credit 30-90 days
International : Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Bank transfer, 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.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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.